Anyone watching this? On ZeroHedge, interesting stock market stuff...
jmski52
Posts: 22,820 ✭✭✭✭✭
Huge last-second sell order on the market, last day of July trading...
The comments seem to indicate that "something is ready" for tomorrow, probably a takedown in gold. We shall see.
What's also quite interesting is that it happened a year ago too.
Could it be that the only mullets left to skim are in the mini contract pools? Maybe cohodk can shed some light.
The comments seem to indicate that "something is ready" for tomorrow, probably a takedown in gold. We shall see.
What's also quite interesting is that it happened a year ago too.
Could it be that the only mullets left to skim are in the mini contract pools? Maybe cohodk can shed some light.
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.
I knew it would happen.
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Please, would you explain what this is and what this means?
Speak to me as if I was a small child.
peacockcoins
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
At least thats what it appears to me and my ho. Iv'e sure been wrong before and not saying we will not have a couple more sideway channeling moves, but a base appears to be building in the 26.00-28.00 range. Just like to see it breach that 28.00 range and hold it.
Please, would you explain what this is and what this means?
Speak to me as if I was a small child.
I've never seen a purple cow; I never hope to see one,
But just the same, I'd rather see a purple cow than be one.
Somebody's computer was programmed to sell a whole bunch (i.e. a WHOLE BUNCH) of mini stock fund contracts right before the monthly close. This allows the trades to execute without allowing enough time for the rest of the market to react before the close.
These contracts are generalized stock index funds. By dumping a bunch of stock fund shares, the closing prices for the individual stocks don't reflect the market's selling pressure yet because the mini contracts haven't executed their own trades to balance their books - but they will tomorrow.
Most stock fund managers are gauged on their monthly and quarterly performances. Since this trade isn't reflected in the 2nd Quarter (or in July), the asset prices for any funds that holds (or held) these contracts will officially be reported as higher than they really are for that period. I'm sure that this was a consideration for whoever did the selling, i.e. from a bonus standpoint.
In the meantime, whoever sold those contracts now has ample liquidity to cover a bunch of shorts in the gold market when the price of gold drops tomorrow. The price of gold will drop along with the general market once the impact of these mini contract sales is felt.
The conspiracy part of this is to assume that whoever dumped the stock fund mini-contracts is also short gold in a big way, i.e., manipulating the gold market as well. We already know about Goldman Sachs "black box" flash trading program and how they regard their "mullet" clients. And who knows, it may not be Goldman Sachs. The problem is that the conspiracy stuff just gets deeper and more involved every time another scandal comes along.
Any way you look at it, this isn't normal hedging activity or normal trading activity based on valuation. It's manipulation and is geared to hurt the little guys who happened to be playing in mini contracts when they should know better by now.
That's my take on the situation. Maybe I'm all screwed up. Tomorrow will tell.
I knew it would happen.
<< <i>FOMC meeting leak? >>
not impossible, but I can't imagine they'd made a 2 day meeting into a 1 day meeting by making a decision early.
It could be that they know the FED's news would be bullish for gold. Therefore a hit today and another one tomorrow may be needed to not let it get above the
$1630 or $1650 resistance levels on the rebound. The FED meeting results this year have nearly all been played to coordinate a gold hit. The odds favor the same
tomorrow. Gold just completed what appears to be a 19 day cycle. So a couple of days (2-6) down would be well timed with this FOMC announcement....not to mention
Thursday's full moon.
Seems like some other commods such as oil, wheat, sugar, etc. were already sniffing this out early this morning.
<< <i>The FED meeting results this year have nearly all been played to coordinate a gold hit. >>
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
So, hey, I'll buy more.
Easy Kramer... Easy ......
<< <i>
<< <i>The FED meeting results this year have nearly all been played to coordinate a gold hit. >>
and a prior run up in gold.
maybe they actually use the words "start date" and "QE" in the same sentence this time?
eh.
seems pointless to try (although, sticking it to the creditors may be their ultimate goal).
Everyone is talking fiscal cliff, no one is also talking economic action. Perhaps Uncle Ben will again mention the need for congress to get off their butts and decide something. Its not like the swearing in will happen before thanksgiving or anything.
they "rumor" for retail (rfr), stooge $$$ goes in long, ( if u really ponder it y would any1 buy/invest on rumor of QE?) & they all get out, ala what was posted earlier there was some buyers/liquidity for a massive sell order & it filled without a crash...
only thing matters now is what the eu dude pulls out of his hat...
Hmmmmmmm. I still wouldn't have wanted to be owner of those minis when they got hit, and it does appear that roadrunner was on target in saying that gold was getting ready for the traditional pre-FOMC meeting hit.
I knew it would happen.
Liberty: Parent of Science & Industry
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>10:45 AM Eastern - my premonitions about stocks were proven (partly) wrong. Stocks spiked on the open and then drifted downward while Gold gapped down by about 1% and has stayed down since.
Hmmmmmmm. I still wouldn't have wanted to be owner of those minis when they got hit, and it does appear that roadrunner was on target in saying that gold was getting ready for the traditional pre-FOMC meeting hit. >>
Don't sell yourself short. Did you see what they did to GDX, NUGT, and GDXJ this morning? The shorts crushed them....then bought them back. The volume in NUGT (large miner 3X etf) was absolutely mind boggling and dwarfed the GDX volume, which has never happened before. Massive volume ratio spikes in GDX vs. SPY as well as GLD vs. UDN. Off the charts crazy action.....and not a peep out of Ben yet.
This action was the 1 OFF of all 1 OFFS. They crushed what they could. And did a fine job of it imo. Look at Rare Earth Element (REE), KGC, BVN, and miner/industrial metal stocks.
Someone made a killing in less than 30-45 min this morning. The volume in NUGT within 30 min was 3X it's highest ever DAILY volume. 85% of Nugt's market cap traded today while
only 16% of GDX was traded. These two have prior to today always maintained a proportional relationship. None of the other PM 2x/3x etf's saw anything close to this kind of action.
Probably every Nugt sell stop on the books was wiped out today. 15% down and then 19% up.
I just went onto the S&P site and added those symbols to their tracking chart. Amazing stuff.
Quote of the day from ZeroHedge, today:
"In our investigations, we concentrate on suspicious cartel agreements that include derivatives. This includes possible secret agreements about the determination of these lending rates," says European Competition Commissioner Joaquín Almunia. In other words, the investigators are interested in more than the manipulation of global interest rates to benefit specific parties. It's also possible that the enormous market for derivatives was manipulated.
Libor Article
Got physical?
I knew it would happen.
Keep those analyses coming!
Liberty: Parent of Science & Industry
<< <i>Huge last-second sell order on the market, last day of July trading...
The comments seem to indicate that "something is ready" for tomorrow, probably a takedown in gold. We shall see.
What's also quite interesting is that it happened a year ago too.
Could it be that the only mullets left to skim are in the mini contract pools? Maybe cohodk can shed some light. >>
Well, lets look at the facts. Yes, the was some 60,000 contracts traded in the final minute. There were also 1.8 million contracts traded all day. The day before that was 1.4 million contracts and the day before that was 2.4 million contracts. So, overall, even with this "huge" trade--which really isnt huge--overall daily volume was only average.
The fact that the trade happened on the last day of the month is not surprising either. Lets look at todays news--a big hedge fund said they were returning $2 billion back to investors. Maybe this trade is related to the hedge fund liquidating?
And liquidity dropped because the market closed. What a strange occurance.
Snipe hunting is not time well spent.
Knowledge is the enemy of fear
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......