How long ‘fore you realise what you missed
How long ‘fore we we get out and may get pissed
You get all the books from the corn exchange
Really mad at this outrage
How long how long ‘fore you realise that all’s strange
I don’t care what the people may say
I don’t give a – anyway – Mott the Hoople, “Death May Be Your Santa Claus”
I’m not shocked that there’s been a major system breakdown and that the Nasdaq has had to stop trades and trading until they get it fixed (Did they try rebooting? Hoohah.) I am however quite surprised that the stocks on the NYSE and other indices that are still trading haven’t reacted in the slightest to that breakdown.
Remember my articles talking about how nobody trusts the markets or the brokers or the TBTF banks or the FED or the government regulators any more? People don’t trust the system but when the system actually breaks, they don’t care?
Anyway, there’s nothing we can do about the system breakdown and frankly, we’ll look to take advantage of any technical price dislocations as a result of this kind of nuttiness if it so presents itself. I guarantee those aforementioned untrustworthy market makers are indeed gaming this breakdown. They’ve got the edge for now, so don’t try to compete on that.
In the meantime, here’s an album from a band with one of the stupidest names ever that absolutely rocks and that I highly recommend.