Radio Utopie

Zum chaostheorien.de-Bericht vom 7. Juli 2010, in dem es darum ging, dass gewisse Vertreter der „Finanzaristokratie“ unlautere Mittel zur Profitmaximierung nutzen, gibt es zwei Ergänzungen, die uns nicht ganz unerheblich erscheinen.

Um Einschätzungen von Experten zu dem Video, das Karl Denninger veröffentlichte, zu erhalten, verschickte ich – wie berichtet – einige Emails. Darunter befand sich auch eine an den Marktkommentator und Gründer der Investmentberatungsfirma SmartKnowledgeU, J. S. Kim. Herr Kim nimmt als langjähriger Marktteilnehmer und –bebachter wie folgt Stellung:

“Actually this is old news to a lot of us. Anyone that trades markets sees the market manipulation daily, from hockey stick saves at end of markets. From pre-market US Fed Reserve future buying designed to make markets gap open higher at trading, from realizations that last month, only20 stocks accounted for 30% of the daily trading volume on the NYSE, and only 99 accounted for about half of all daily volume.

In regard to the specific bid/ask manipulation that Denninger refers too, Wall Street programs are programmed to pull bids once they see an offer at that price and move the bid up one tick higher to make people chase them. Yes this is illegal, but so are many other things Wall Street does. The „Boyz“ make the laws so as long as they control the HFT algorithmic trading programs and pay off the regulators, they‘ll continue to do this forever. I have actually discovered the following. Say I see an options contract I want to buy on the S&P500 for $2.58 a contract. The bid is $2.54 and the ask is $2.58. If I put a buy order at $2.58 even though the computers say I should be able to buy at $2.58 and that my buy order should be filled, instead, what happens often is that the ask price immediately moves to $2.59 as the contracts offered at $2.58 are immediately pulled. I have found that to get an order filled at $2.58 when the best ask price is $2.58 to sometimes put a limit order in at a higher price at $2.59 as ludicrous as this sounds. Then my buy order will be filled at $2.58 instead of the computers pulling the offered contracts at $2.58 and manipulating the price higher to make people chase a higher price. I think the computers are programmed to tick the price up one tick when an order comes in that matches the current ask price so if a limit order is placed one tick above, it messes up the computer algorithms and makes your order more likely to be matched.

In any event, markets have been fraudulent for 100 years. This nonsense that Denninger refers to I believe is nothing new and has been happening ever since markets were computerized. The only difference is that technology has progressed whereby we can now spot their scams but the scams certainly have not multiplied. They‘ve always been there.“

Ferner nahm Max Keiser für seinen „Keiser Report No. 59“ (http://maxkeiser.com/) die „Markt-Manipulation live“-Geschichte auf, indem er Karl Denninger ausführlich dazu befragte. Der diesbezüglich relevante Teil beginnt ab Minute 12:40:

http://market-ticker.denninger.net/archives/2498-Tickerguy-With-Max-Keiser-On-Manipulation.html

08.07.2010 Markt-Manipulation live