Friday, May 18, 2012

FACEBOOK Friday............

Forget today that the S&P 500 e-mini futures plunged to four-month lows at 1290, or Treasury yields crashed back to their record lows, or Gold and Silver surged or Oil dropped to almost a $90 handle.

Today was all about one thing - the disaster that's Facebook - between the late opening, overwhelmed systems, a dump to the syndicate bid and almost 600,000,000 shares traded with the syndicate soaking it all up at $38.00 early and into the close.

How could any exchange system stand up to the tens of billions of rapid-fire quotes and the quote manipulation brought about by the mainframes inside the dark pools.

They won't talk any truth on CNBC, it's all cheerleading by the media touts.

The market structure is broken.  Today was a gallant effort by the IT guys at Nasdaq.  They lost big.

The blame being tossed around should go straight to the SEC.  The market structure is broken.

Algo's trading against algo's in hundredths of pennies.    Wrong.   Small investors lose.

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