Joe Saluzzi calls it out on Bloomberg.

[WildspitzE]

Courtesy of Zerohedge... I like this guy. Go Joe. (check out the intervention commentary amidst all the political stuff)

"Joe Saluzzi of Themis Trading on Bloomberg TV, discussing several critical topics extensively covered on Zero Hedge previously: the real state of the economy, high frequency program trading and outright market manipulation. Maybe this will explain some of the persistent questions readers have about Zero Hedge's obsession with Goldman's domination of the Principal Program Trading market.

To quote Joe:
"I have a feeling one day the door is gonna close, everyone is going to be running for the exits, there is going to be a major move in the market and everyone is going to wonder "what happened?"

There is problem structurally in the equity markets that nobody wants to talk about. There is intervention, there is manipulation going on. No one has exact proof of what is going on but it's out there, and the real liquidity has been gone for a while. People don't understand, the liquidity is not coming back."
Must Watch."

[ThePythonicCow]

Re: Joe Saluzzi calls it out on Bloomberg.

Nice one - thanks.

Perhaps when iTulip closes down for a second time, because they can't make budget because no one wants to even think about any kind of "investment" that can be manipulated by a computer ... then perhaps it will be time to think about getting back in this market.

Meanwhile, I might as well "invest" in some government lottery or gambling casino action that I am pretty sure is rigged by the mafia. This isn't investment. It's expensive entertainment. It used to be that people invested in their retirement by building and stocking a good home and by nuturing strong families and communities and taking care of their elders as they hoped to be taken care of in turn. Besides, they didn't really retire, so much as adapt how they contributed to family and community to their changing capacities as they got older. Nowadays people invest in their retirement by "investing" in casino tokens, and old people "contribute" by watching more TV. This is not going to turn out well.

... excuse me ... gotta run now and get back to rebalancing my portfolio for tomorrows trades :rolleyes:.

[cjppjc]

Re: Joe Saluzzi calls it out on Bloomberg.

Very informative. Thank you.

[Raz]

Re: Joe Saluzzi calls it out on Bloomberg.

Thanks for posting this, Wildspitzer.

I like Tyler Durden, too, and I listened to it right after lunch.

The Quants and Fund Managers who play with OPM are running this game, along with occasional plays by the PPT. When it does finally top out there will be a mini-crash. Then the market will either crumble back to the 600s basis SPX, or it will move higher as the worldwide fiat machine sends "money" fleeing into equities and metals.

Should be a most interesting time, to say the least.