All,


Our suppliers have informed us that the LSE is currently having a problem, which is resulting in the slow running of level 1 and level 2, and is effecting all vendors, they are working to resolve it.

Ian

Even if I wanted to trade, I can't get any sort of quote on individual stocks.

oops a daisy - wish i could of gone long on that happening !!! :-} sell lse - they'll get battered in morning !

Streaming gone again imho

All,

the latest frin the LSE:

This is to inform you that due to on-going connectivity issues to resume a fair and stable market the Closing Auction will commence from 16:21 onwards. The Closing Auction will uncross as scheduled at 16:35 onwards (subject to a 30 second random period).

Best regards,

Geoff

Cheers.

I knew I should have stayed in bed!

Ah.

A spot of overtime for the contractors overnight!

Shorting LSE seems a gimme tomorrow, if the system works.

farcical - but makes it interesting for tomorrow !

what should have been one of the best trading opportunities in a long time was not to be , whatever the reason private investors should get a reasonable explanation from the LSE

My theory,

Is this the Russians, Al Kida, Alex Salmon, (Scottish National Party) aliens, Does this mean Armageddon?
Or is it Gordon Brown and Co having made the UK bankrupt ordered the closure of the LSE and therefor the suspension of trade whilst they secretly cash in all their shares and leave the country for a non domicile tax haven before anyone notices.
And whats the auction for, GB perhaps. The end is nigh, Doomed, we are all doomed.
Now I wonder if they have tried clearing cookies and then logging out and back in again. It usually works with MoneyAm.
Perhaps Ian and Co should give them a bell.

i guess the j boys are still on holiday without internet connection..hence the deliberate cock up

not if you traded the indices as they were working pretty much normally throughout, so i don't know why the griping from the odd poster above ....... i traded Dow CFDs with IG very satisfactorily and profitably today, the outage making no difference whatsoever

The same sort of thing used to happen during peak market conditions in 1929 you know..............The poor old carrier pidgeons used to suffer from wing muscle strain..............

would have been a lot worse if markets had been plummeting - even more unhappy bunnies then ! But its not all over yet , the yanks may go into meltdown before close

certainly Dow lookls to have boiled over and is now ONLY +170 at 11393

Accidental?

Thanks to Aleman and Madasafish

Markets manipulated to get the Dow up. Pumping the UK market for an hour and then suspending it is a good way to get the US off on the right foot. It buys time so they can work out how to sort Lehman which is much more complicated.

Alternative trading system Turquoise (http://www.tradeturquoise.com/tq_about.shtml) responsible. Set up so hedge funds could invest as if nothing was wrong and then bail out when it when it went tits up before anyone else could tell.
Turquoise and Chi-X, rival share-trading systems are backed by investment banks, were working all day without problems and were understood to be busier than normal. Hedge funds can sell out while the main market is shut with their buddies running your pensions buying the unwanted stock at no personal loss?

Short hedge funds killing the market by submitting millions of self cancelling orders to buy time followed by trading off-market to try to offset my exposed positions.

And thnaks to Energyi from the darkside -lengthy but interesting

== IMAGINARY CONVERSATION / Back in mid-June ===

China Representative (CR):
"Secretary Paulson, your dollar is very weak, and we are getting concerned. We are holding about $1.0 Trillion of Dollars, and falls are harming China's wealth. Most of this is invested in the debt of your mortgage giants, Fannie Mae and Freddie Mac. Their share prices are weak now too, and we are getting worried. What can be done?"


Henry Paulson (HP):
"Yes, I am aware of your holdings of Dollars. We think the dollar is now too weak. Too many speculators are ganging up on it."

(CR): "We would like to see a stronger dollar. Isn't there something that can be done?"

(HP): "I believe so. We have a plan. But we will need your help."

(CR): "We are interested to hear your plan."

(HP): "As you know, we have hundreds of Hedge Funds in the US, and here are thousands of them around the world."

(CR): "There are many Hedge Funds in Hong Kong, and a few are setting up in China now."

(HP): "Many of these hedge funds have been shorting the dollar. They have made billions doing this, and many funds now have huge positions short the dollar, and long the Euro, or long so-called 'commodity currencies' like the Australian Dollar or the Canadian Dollar. Some are also borrowing dollars, to buy Gold or to buy Oil or or to buy Energy or Mining stocks. They win as the Dollar falls, and they win as commodities rise."

(CR): "We are aware of these trades. How can we stop this?"

(HP): "When I was at Goldman Sachs, we watched the behavior of many Hedge Funds. Most use massive leverage, and they take big positions in relation to their underlying capital."

(CR): "Yes. We know that."

(HP): "The thing is, they have risk limits, and if positions move against them, then they will close off their positions, to stop the losses. Very often, a move of 3%, 4%, or 5%, will be enough to get the Hedge Funds to cover the positions. We intend to intervene in the markets soon, to push the dollar higher, to hit those limits. When the funds start covering their positions, that will force the dollar higher still. We need to start things off by buying dollars, and when the Funds start buying too to cover, their buying will force the dollar up higher. Some of the hedge funds will see a change in the direction of momentum, and even swing around the other way, and become long, rather than short on dollars.

Also, I want to mention - whatever dollars we buy, we will be able to turn around and sell later. I expect to make money on this intervention. This is really only possible because too many hedge funds are on the same side of the trade now. They are way too imbalanced on the side against the dollar. We can turn that around, through this action."

(CR): "Mr. Secretary, that is a brilliant plan! Burn the speculators, and get them to become dollar buyers!"

(HP): "Yes, we believe this will work. But we will need your help. We want to get the timing right."

(CR): "I believe we can offer help. But you will need to start the process, we can join in, once the dollar has begun to turn up. What timing do you have in mind?"

(HP): "Soon, very soon. The oil price has gone up too far. Demand is already beginning to falter in the US, and I understand that China will soon reduce its oil subsidies, and that will help to cut demand in China."

(CR): "Yes, that is true. Malaysia, Indonesia, and India, have cut their oil subsidies. We have agreed to do the same in China."

(HP): "Saudi Arabia has agreed to add another 500,000 barrels per day to supply. That will kick in soon. We thing oil will fall to at least $110, perhaps $100 or lower."

(CR): "We also have similar projections..."

(HP): "The right time to be buying dollars will be when Oil is falling. Then Gold willl be weak, and all the commodity plays will be under pressure: the commodity currencies will be weak, oil, gold, ... and mining and energy shares too."

(CR): "Hmmm. Interesting. We want to buy some gold, and some energy stocks too. That's where we plan to invest some of our dollars. A few hundred billion, even."

(HP): "We have been expecting that, as we spoke before. Isn't it better to wait for them to get cheaper?"

(CR): "We will help... In fact, I think there may be a way we can get our Chinese banks to buy dollars too."

(HP): "My country appreciates China's help. We have a long relationship of co-operation. Do not worry about your holdings in debt of Fannie and Freddie. We will not let you lose on that. My plan will help the holders too. But we must wait for the right time."

(CR): "You can count on us. But you will need to lead this process. We are ready to follow."

(HP): "Right. Watch oil and gold. That will be a sign the game is underway. I will alert a few close friends in the Hedge Fund Business. They can help too."

(CR): "A great plan."
===

With Charts: http://www.greenenergyinvestors.com/index.php?showtopic=4178

Thanks to IanT for yesterdays updates.

These conspiracy theories are hilarious. If it wasn't so serious for the future of London's reputation generally or the LSE in particular I would think one up myself.

zscrooge,

Excellent, would be funnier if there was not an element of truth in it.
Are you ex MI5 by chance.

You might think that.... ;-))