Hurricane Sandy: Wall Street Shuts Down; Trading May Not Resume Until Wednesday

All US Equity Markets Closed Monday (And Maybe Tuesday) Due To Sandy (ZeroHedge, oct 29, 2012):

Late Updates – after a day of consultation and realization that if the algos were left alone to play then things could go a little pear-shaped – NYSE and NASDAQ will now be totally closed tomorrow:

  • *U.S. EQUITY MARKETS TO CLOSE ON OCT. 29 FOR STORM, SEC SAYS
  • *NEW YORK STOCK EXCHANGE TO CLOSE MARKETS FOR STORM
  • *NASDAQ OMX MARKETS CLOSED TOMORROW ON HURRICANE SANDY  :NDAQ US
  • *CBOE TO CLOSE EXCHANGES OCT. 29 BECAUSE OF HURRICANE SANDY

Via NYSE:

“In consultation with other exchanges and market participants, NYSE Euronext will close its markets on Monday, Oct. 29, 2012 and pending confirmation on Tuesday, Oct. 30, 2012’’

“We support the consensus of the markets and the regulatory community that the dangerous  conditions developing as a result of Hurricane Sandy will make it extremely difficult to ensure the safety of our people and communities, and safety must be our first priority’’

“We will work with the industry to determine the next steps in restoring trading as soon as the situation permits’’

Add to this, SIFMA’s recommendation that bond markets close at midday – which is all a little moot given MTA’s closure and tomorrow looks like being a busy day for the European desks…

Hurricane to close Wall St on Monday, possibly Tuesday (Reuters, Oct 29, 2012):

U.S. stock and options markets will be closed on Monday and possibly Tuesday, the exchange operator said, going back on a plan that would have kept electronic trading going on Monday.

As Hurricane Sandy bears down on the New York area, regulators, exchanges and brokers grew increasingly worried about the integrity of markets and the safety of employees.

It will be the first time the market has closed for a weather-related event since Hurricane Gloria on September 27, 1985.

Wall Street shuts for storm; trading may not resume until Wednesday (Los Angeles Times, Oct 28, 2012):

As Hurricane Sandy barrels down on the East Coast, Wall Street is shutting down.

The nation’s two biggest trading platforms — the New York Stock Exchange and the Nasdaq Stock Market — have both closed for business. They said trading might not get back to normal until Wednesday.

This would be the first time trading has been halted in all U.S. stocks since a four-day stretch after the Sept. 11, 2001, terrorist attacks.

Read moreHurricane Sandy: Wall Street Shuts Down; Trading May Not Resume Until Wednesday

The Shorts Have Left The Building

The Shorts Have Left The Building (ZeroHedge, Feb. 10, 2012):

Following the market’s “sudden” realization in December that the ECB had been quietly pumping $800 billion, or more than the entire QE2, into the market (sterilized? yeah right – when one lends out cash in exchange for worthless crap nobody else wants, and certainly not the Bundesbank, it is not sterilized), it became all too clear that the market’s response in 2012 would be a deja vu of 2011, if only for a while. Sure enough 2012 has been a tic-for-tic transposition of the market move in 2011. The only question is how far it would go, before, like back in 2011 again, it rolled over. To get a sense of one of the best indicators of an overextended rally, we go to the NYSE whose short interest update confirms that the rally, at least based on ongoing short squeeze dynamics (which as we said in mid-January has been the best strategy for a bizarro market) is now over. Sure enough, according to the latest data, short interest has collapsed from a multi-year high in September of 16 billion shorts, which coincided with the market lows, to essentially the lowest print seen in the past 4 years at 12.5 billion shares, a level which has not been breached once in the New Normal phase of market central planning. In other words, those who look at short interest and covering as a market inflection point, the time has come to take advantage of the short mauling, and bet on the market rolling over. That said, all it takes is for a central bank chairman somewhere to sneeze the wrong way, and this best laid plan will promptly collapse.

‘Anonymous’: A Personal Message Regarding The Validity Of Operation Invade Wall Street

The elitists plan is to take away the internet from you.

Flashback:

Former CIA Director Michael Hayden: Build A New Internet To Improve Cybersecurity

Congressman Ron Paul on the Cyber Security Act: ‘They are doing everything in the world to control the internet.’

Law Professor: Counter Terrorism Czar Told Me There Is Going To Be An i-9/11 And An i-Patriot Act:

Lawrence Lessig, a respected Law Professor from Stanford University told an audience at this years Fortune’s Brainstorm Tech conference in Half Moon Bay, California, that “There’s going to be an i-9/11 event” which will act as a catalyst for a radical reworking of the law pertaining to the internet.

Senator Jay Rockefeller: Internet Is The ‘No.1 National Hazard’

For your information …



YouTube 08.10.2011

I clarify a few more things I may have forgot to mention or made a mistake during the first video. link: http://93.17.7.151/webdav/greenshell.php

TRANSCRIPT:
_________________

Greetings citizens of the world, I am TheAnonMessage.

There’s been some con flict, as always. Many people refuse to accept that Operation Invade Wall Street is a reality. Some say it is a COINTELPRO agent tactic to set the map for a false flag operation.

I am here to say that I am the messenger. As the messenger, I cannot take sides. I am not supporting or opposing invade wall street, and it was wrong of me to say that the operation has been terminated.

Read more‘Anonymous’: A Personal Message Regarding The Validity Of Operation Invade Wall Street

Anonymous: NYSE Hack Compromised


The flag used by hackers in the group known as Anonymous

Anonymous NYSE Hack Compromised, Group Says [Video] (Long Island Press, Oct. 7, 2011):

The hackers that claimed to be part of Anonymous are now saying that their plan to shut down the New York Stock Exchange Monday has been compromised.

TheAnonMessage had posted a video four days ago stating that the group was supporting the Occupy Wall Street protests by taking the NYSE down. Now, a message under the video reads:

BREAKING EMERGENCY UPDATE: Warning: The Operation #invadewallstreet HAS BEEN COMPROMISED. Do not participate. People may still hack NYSE. They will do it at their own risk.

This was after a tweet from AnonyOps said, “WARNING: To ALL people! DO NOT PARTICIPATE IN #invadewallstreet AGENT named hypotenuse has infiltrated AnonOps IRC.”

Read moreAnonymous: NYSE Hack Compromised

Hacker Group ‘Anonymous’ Announces It Will ‘Erase’ The NYSE ‘From The Internet’ On 10/10/2011 (Video)

… and then the elitists will take away the internet from you (as planned).

Flashback:

Former CIA Director Michael Hayden: Build A New Internet To Improve Cybersecurity

Congressman Ron Paul on the Cyber Security Act: ‘They are doing everything in the world to control the internet.’

Law Professor: Counter Terrorism Czar Told Me There Is Going To Be An i-9/11 And An i-Patriot Act:

Lawrence Lessig, a respected Law Professor from Stanford University told an audience at this years Fortune’s Brainstorm Tech conference in Half Moon Bay, California, that “There’s going to be an i-9/11 event” which will act as a catalyst for a radical reworking of the law pertaining to the internet.



YouTube Added:03.10.2011

A new Anonymous statement to the media regarding a DDOS attack set forth to take place October 10th. DDOS information is annotated.

IRC LINK: irc.project-pm.org #invadewallstreet
(or for NetTalk users, 85.115.208.246)

TRANSCRIPT:
_________________

Greetings, Institutions of the Media.
We are Anonymous.
The events transpiring within Wall Street have caught our eye.

Read moreHacker Group ‘Anonymous’ Announces It Will ‘Erase’ The NYSE ‘From The Internet’ On 10/10/2011 (Video)

Liquidations Coming: Hedge Fund Margin Debt Surges – Total Free Cash Lowest Since July 2007, Just Prior To Quant Wipe Out

The NYSE has released its January margin debt data. Not surprisingly, total margin debt hit a peak of $290 billion, the highest since September 2008, but the one category that shows just how much purchasing is occurring on margin is total Free Credit less Total Margin Debt drops to the lowest since the all time credit bubble peak in July of 2007!

At ($45.9 billion) this number is just below the ($52.8) billion last seen just before the August 2007 quant wipe out which blew up Goldman’s quant desk, and arguably was the catalyst for the beginning of the end. In other words, as we have shown, everyone is now purchasing on margin and the level of investor net worth is the lowest in over 3 years.

Which means that should the market decline from this week persist and the Fed be unable to stop it, the margin calls will start coming in fast and furious, and unwinds in otherwise stable products like gold and silver are increasingly possible as hedge funds proceed to outright liquidations.

Submitted by Tyler Durden on 02/24/2011 11:54 -0500

Source: ZeroHedge

Matt Taibbi: Why Isn’t Wall Street in Jail? (Rolling Stone)

Financial crooks brought down the world’s economy — but the feds are doing more to protect them than to prosecute them


Illustration by Victor Juhasz

Over drinks at a bar on a dreary, snowy night in Washington this past month, a former Senate investigator laughed as he polished off his beer.

“Everything’s fucked up, and nobody goes to jail,” he said. “That’s your whole story right there. Hell, you don’t even have to write the rest of it. Just write that.”

I put down my notebook. “Just that?”

“That’s right,” he said, signaling to the waitress for the check. “Everything’s fucked up, and nobody goes to jail. You can end the piece right there.”

Nobody goes to jail. This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world’s wealth — and nobody went to jail. Nobody, that is, except Bernie Madoff, a flamboyant and pathological celebrity con artist, whose victims happened to be other rich and famous people.

This article appears in the March 3, 2011 issue of Rolling Stone. The issue is available now on newsstands and will appear in the online archive February 18.

The rest of them, all of them, got off. Not a single executive who ran the companies that cooked up and cashed in on the phony financial boom — an industrywide scam that involved the mass sale of mismarked, fraudulent mortgage-backed securities — has ever been convicted. Their names by now are familiar to even the most casual Middle American news consumer: companies like AIG, Goldman Sachs, Lehman Brothers, JP Morgan Chase, Bank of America and Morgan Stanley. Most of these firms were directly involved in elaborate fraud and theft. Lehman Brothers hid billions in loans from its investors. Bank of America lied about billions in bonuses. Goldman Sachs failed to tell clients how it put together the born-to-lose toxic mortgage deals it was selling. What’s more, many of these companies had corporate chieftains whose actions cost investors billions — from AIG derivatives chief Joe Cassano, who assured investors they would not lose even “one dollar” just months before his unit imploded, to the $263 million in compensation that former Lehman chief Dick “The Gorilla” Fuld conveniently failed to disclose. Yet not one of them has faced time behind bars.

Instead, federal regulators and prosecutors have let the banks and finance companies that tried to burn the world economy to the ground get off with carefully orchestrated settlements — whitewash jobs that involve the firms paying pathetically small fines without even being required to admit wrongdoing. To add insult to injury, the people who actually committed the crimes almost never pay the fines themselves; banks caught defrauding their shareholders often use shareholder money to foot the tab of justice. “If the allegations in these settlements are true,” says Jed Rakoff, a federal judge in the Southern District of New York, “it’s management buying its way off cheap, from the pockets of their victims.”

To understand the significance of this, one has to think carefully about the efficacy of fines as a punishment for a defendant pool that includes the richest people on earth — people who simply get their companies to pay their fines for them. Conversely, one has to consider the powerful deterrent to further wrongdoing that the state is missing by not introducing this particular class of people to the experience of incarceration. “You put Lloyd Blankfein in pound-me-in-the-ass prison for one six-month term, and all this bullshit would stop, all over Wall Street,” says a former congressional aide. “That’s all it would take. Just once.”

But that hasn’t happened. Because the entire system set up to monitor and regulate Wall Street is fucked up.

Just ask the people who tried to do the right thing.

Read moreMatt Taibbi: Why Isn’t Wall Street in Jail? (Rolling Stone)

Long Before German Deal, NYSE Was Mostly Symbolic

The Germans will regret this deal very soon.

German Börse In Talks To Buy The New York Stock Exchange


German company will acquire Big Board, but exchange is already mostly symbolic

NEW YORK (AP) — Why would anyone want to sell a centerpiece of capitalism like the New York Stock Exchange? Because despite its fame and its fabled floor, it’s a lousy way to make money.

A German company will acquire the Big Board in a deal that creates the world’s largest exchange operator but does not stop the decades-long evolution of stock trading from shouting floor brokers to the cold, quiet hum of computers.

The deal announced Tuesday values the New York exchange’s old parent company, NYSE Euronext, at $10 billion. The NYSE and Euronext, which owns exchanges in several European capitals, merged in 2007.

Read moreLong Before German Deal, NYSE Was Mostly Symbolic

NYSE Common Stock Volume Plunges To Sub-2001 Levels

When we pointed out our volume chart earlier, which indicated that volume is now a laughable joke, we received one of the traditionally amusing responses, “ZH misses the point on volume because they data mine and only compare it to the volume during the crisis. SPY volume is STILL higher today than it was pre-2007. So are we to believe that the crisis volume levels are the “real” levels for volume? If you compare back to pre-crisis, volume is actually still pretty high.” Here is our response.

For those who refuse to accept the reality, and/or are unable to interpret what the chart says, allow us to explain: NYSE common stock volume is lower than it was in 2010, in 2009, in 2008, in 2007, in 2006, in 2005, in 2004, in 2003, in 2002 and in 2001. We stopped there (couldn’t help it – felt obligated to data mine a little bit).

Read moreNYSE Common Stock Volume Plunges To Sub-2001 Levels