Posted by Michael Collins

Stocks Freak Out Again: 130 Point Move In Dow In 15 Minutes On No Volume

Submitted by Tyler Durden on 05/21/2010 15:08 -0500 Once again, we get to see just how broken our stock market is, one which takes no prisoners, and will trample over everyone and everything as the Primary Dealers use your own money against you to shake every single person out. A 130 point move in the Dow in the matter of minutes on no volume is about all you need to know to lose all confidence in stocks, and call up TDAmeritrade and close your account (you won't be allowed to trade when the market is crashing anyway). Good thing we had a fake rumor in the morning to prevent an all out rout into Friday with the Dow looking to open well into 9000. Additionally, with credit not moving, and obviously not buying this move, there is nobody left who can claim the market is anything even remotely resembling orderly, efficient or fair. SkyNet is again rising. Graph 1 Graph 2

Also see Pecunia Emptor by Numerian

What do you do when those who are meant to protect you simply no longer care? Who is left to make money from? Only themselves. There are not many short squeezes left in their pocket. Do you think retail wants any part of this? What is the point of marking up prices when there is nobody to sell to but one another?

They shot themselves in the foot with the flash crash. It was a blatant maneuver as we all know to move influence political legislation. There is a reason we have supposedly autonomous branches. When Central bankers are using the markets to influence legislation we have a coup d'etat ladies in gentleman. This is nothing short of a financial coup perpetrated against the American public.

• Pres. Obama announced Volcker Rule: Market shakedown and the newstream begins that Prop trading cannot be banned.
• Llyod Blankfein goes on the stand: Market collapse into the close to assure he is not badgered.
• Financial Regulation begins to make headway as Senators finally attempt to bring amendments to the floor and the day a Full Fed Audit is considered: The markets begin crashing and only reverse when Sanders is taken into a backroom. A deal is made to turn this into a false bill because they knew Senators could not vote against a Fed audit so they diluted it to solve the problem.
• Greece & PIGS bondholders need cash as liquidity seizes, the Euro begins the walk to the river Styx and LIBOR skies: President Obama gets on the phone to Merkel to coerce a bailout (Look how well it worked for us), Bernanke begins making the rounds, and the IMF courageously volunteers 57 Billion in American taxpayer money for a bailout to buy FUCKING BONDS so that banks again take no haircut in restructuring.
• Derivatives spin off/naked derivatives & Mccantwell/McCain (Glass-Steagall) are attempting to come to a vote: Markets are crashed, phone calls are made, Rahm & The President make phone calls to take the pressure off and a vote to cloture is rushed. The vote fails the first time..markets crash THE NEXT DAY they bring the vote to the floor again to prevent the amendments from being voted on and it passes. Banks sell off into the close to pretend they do not like the bill.

In the meantime Oil continues to hemorrhage in the Gulf, unemployment claims continue to rise, 99er's begin to fall off benefits, Credit cards & Foreclosures continue to climb, Mark to Market vanishes into the land of the Unicorns,Food stamps reach record levels (Modern day Soup Lines), Manufacturing jobs contract and are never to be seen again, Incumbents are being tossed, Savers see a continuous wealth transfer, small business ceases to exists, home prices continue to fall, QE ends, Fannie & Freddie is ignored and costing billions a month and our money supply has gone parabolic.How all this data equates to record bank bonuses, perfect trading quarters for all of the big banks, skying gold and a Dow at 10,000? This is 2010 America in name only. Close to 1500 people now have created a shared fascist government.