Does Skynet rule the markets?

The blue chips (SPY) this morning are trading barely changed from their close yesterday after a much anticipated employment report that showed 10 times the number of job losses expected in the pre-release surveys.

Big yawn, right? Yes and no. Trading in SPY before the opening bell shows significant price swings coinciding with the release.

At the minute of the release, SPY's price dropped by 0.6%. Then the market opened to a stable price, which within two hours was trading at about the point where things left off at yesterday's close.

Who are these people??? The ones making the prices go so crazy with meaningless swings when there's a major release??

Insomniac  traders and interns overdosing on coffee and donuts?

Is it a secret agreement between CNBC and market makers to manipulate prices so CNBC will have something to report?? (The markets are down in early trading after the employment report showed an unexpected loss of 85,000 jobs. yada yada ya...)

Perhaps it is the computers, operating on their own.

Has Skynet taken over the markets?!?!?!?

Makes you wonder. Where is John Connor when we need him?


Topics: economic releases, Skynet, Terminator, financial media, John Connor, Sarah Connor Chronicles, artificial intelligence, evil computers take over the world, Judgment Day