CAN’T GET YOUR TRADE BUSTED? JUST GUN THE S&P’S….
25 June 2009 by TPC
3 Comments
I was reviewing today’s trading in search for the answer to the question of the day: why the heck did the market rally 2%? Someone with a much bigger account than Joe Schmo placed a trade in the middle of last night that rivaled periods of today’s intra-day volume. This trade sent S&P futures up over 1% in a matter of seconds. There was no news at the time that warranted such a move. Did a big player need to break even on a sizable overnight trading error? Probably not, but that’s as good a guess as any for today’s move….
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TPC, I watched that happen realtime. Loaded up some snp shorts tonight. Glad I cut loose some of my SRS PM this morning. VXX got pounded today. Hoping to average in here AH.
It was probably some fat fingered idiot at Goldman Sachs They had to spend the whole day correcting their PnL.
And what about the last half hour!
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