Ron's Matrix Sentry

Welcome!

Like most people who end up with their own blog, I have become overwhelmed with the job of managing information. I subscribe to numerous feeds and literally swim as hard as I can just to stay up to date. Many people I know have asked about where I source my news and commentary and it becomes an awkward, unwieldy experience trying to encapsulate a cogent reply. So this blog is my attempt to point people to a single place where information I follow flows. My blog list is very extensive and I have tried to whittle it down substantially. I am also on the prowl for more blogs, therefore all recommendations will be highly valued! I have daily feed straight to this site some of my favorite content. Daily review of Mish Shedlock, Nathan Martin, Jim Sinclair, GATA, and Martin Armstrong are essential IMO and will be posted here. Also, I endeavor to provide weekly Technical Analysis of Gold, Silver, US Dollar, and select markets. I hope to provide some with an exposure to technical analysis, and at the same time hone my own skills. Also, I will be adding commentary to the daily feeds from other sources. In time, this will be the primary focus of my blog as frequent visitors will channel feeds appearing here directly to their own sites and will come here for either analysis or commentary. I hope you find some utility here and it serves you well out there in the Matrix!

Thursday, May 6, 2010

Denial – Sickening pronouncements by media, disgusting moves by Exchanges

by noreply@blogger.com (Nathan A. Martin)

First it was the Proctor and Gamble supposed fat finger (Citi denies it and no single entity owns a billion shares), and now the NASDAQ is destroying the marketplace and confidence by doing this:

Nasdaq to Cancel All Trades of Stocks Moving More Than 60%

May 6 (Bloomberg) -- Nasdaq OMX Group Inc. said it will cancel all trades of stocks at prices that were 60 percent above or below the last price at 2:40 p.m. or immediately prior.

The exchange operator said in a statement it will cancel all trades "greater than or less than 60 percent away from the consolidated last print in that security at 14:40:00 or immediately prior."

Nasdaq said it coordinated the decision with all other exchanges.

Let me ask you this, why should you be playing in a market where if you make a winning trade they can take it away from you? Pure gambling, the criminals are in charge, there is no rule of law. These actions will destroy confidence, not build it and the people running the markets will eventually get what’s coming to them.

The media is absolutely shell shocked looking for any excuse plausible why the selling was not for real. It was for real, the market was saved by intervention, but the media can’t admit the crash much less the intervention. Denial isn’t just a river in Egypt, that’s for sure…