"We risk becoming the best informed society that has ever died of ignorance"
- Rubén Blades

"You can't make up anything anymore. The world itself is a satire. All you're doing is recording it"
- Art Buchwald

"It's getting exciting now, two and one-half. Think of everything we've accomplished, man. Out these windows, we will view the collapse of financial history. One step closer to economic equilibrium"
- Tyler Durden

"It is your corrupt we claim. It is your evil that will be sought by us. With every breath, we shall hunt them down."
- Boondock Saints

Monday, October 22, 2012

PLW And The Farce That Is The Securities And Exchange Commission

It's 8:57 and the SEC is just now signing into their Brazzer's accounts and prepping to be paid to look the other way as financial malfeasance continues to expand.  For 14 minutes this morning, starting at 08:21:30 ticker PLW (PowerShares 1-30 Ladder Treasury Port) took over 800,000 quotes with no trades.  The SEC states that entering order not intended to be filled goes against federal law.  But who gives a flying fuck anymore in America circa 2012?
 


NOTE THE SPACING OF THE SEQUENCE LENGTH IN TIME (RED DOTS):
 
Per NANEX:
1. PLW 1 second interval chart showing bids and offers color coded by exchange
Those solid red lines are hundreds of thousands of bids/asks jammed together and far away from the NBBO (gray shading)

2. PLW 100 millisecond interval chart showing bids and offers color coded by exchange
Still can't make out individual bids/offers because there are so many

3. PLW 25 millisecond interval chart showing bids and offers color coded by exchange
Even at a 25 millisecond resolution, there are too many bids/offers to distinguish individual shapes. 

Posted by Paul Revere at 10/22/2012 09:08:00 AM