“We Call Bullshit On The ‘Bots Again!”
Via Global Macro Monitor,
ZeroHedge.com
Jun 16, 2017
Before hitting the hay we need to call a big B.S. on the bastard ‘bots from Rip (Off) City. They screwed us again yesterday (June 14) in crude oil futures.
First, before we get into the trade, a little background.
We have posted about our experiences of being ripped off by these “so-called” trading ‘bots, who prey and stalk the markets, looking to pick-off traders through blatant market manipulation. Flash crash, my arse.
We put on a short position in nattie Thursday night before driving back from Sacramento to the Bay Area. We checked the market at dinner and see its down about 1 percent, we feel happy and give high fives. Then we look at the position and we have none!
It was taken out (buy stop) as a Seek and Destroy Bot came in around around 9 pm, guns the market to the upside to take out all the buy stops of the short sellers, then turns around and guns it to the downside to destroy all sell stops of longs. Finally, moves the market back to where it was before all the nonsense began. Not a bad day’s work for the robot. – GMM, January 2017
But, this is the doozy:
Remember the AP Twitter hack in April 2013, where,
“Wall Street collided with social media on Tuesday, when a false tweet from a trusted news organization sent the US stock market into free fall.
The 143-point fall in the Dow Jones industrial average came after hackers sent a message from the Twitter feed of the Associated Press, saying the White House had been hit by two explosions and that Barack Obama was injured. The fake tweet, which was immediately corrected by Associated Press employees, caused a sensation on Twitter and in the stock market.” – The Guardian
That one cost us big as our long stops were hit.
The Rest…HERE
