Home » Most Recent Stories

CAN’T GET YOUR TRADE BUSTED? JUST GUN THE S&P’S….

25 June 2009 by Cullen Roche 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….

es626

Disclosures - Unless otherwise noted, authors have no positions in any securities mentioned and readers should never consider this to be investment advice. Always consult your financial advisor before acting on any ideas. Comments Guideline - Readers who denigrate authors or other readers will be banned without warning. This site does not tolerate any sort of reader abuse. The goal of this site is to create an environment that is conducive to learning and better understanding of the monetary system and the investment world. We expect readers to behave maturely and responsibly. We welcome and encourage intense and intelligent discourse, but the site adheres to a strict 1 strike policy. While it is your right to speak freely, it is not your right to behave childishly. Above all else, please enjoy the site. It is intended to be used as an educational tool and we hope the intelligent and mature debate will further that purpose. We hope readers will make an effort to respect that goal. Comments with excessive linking or foul language will be moderated before posting.
Comments
  • prescient11

    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.

    06/25/2009 at 4:55 PM
  • AndyD

    It was probably some fat fingered idiot at Goldman Sachs They had to spend the whole day correcting their PnL.

    06/25/2009 at 5:09 PM
  • Dean

    And what about the last half hour!

    06/25/2009 at 6:57 PM