Did anyone see the spike in the Dax in the first 5 minutes of the market this morning (12/27)? The March Contract jump from 8180 to 8250 in the blink of an eye. Eurex told me that it was not a "fat finger"!! Does anyone know what this was due to? A stop going off perhaps? I got hurt a little bit but was able to recover.
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dax spike
- Thread starter Eytan936
- Start date
market been closed for days..very thin order book...wouldn't take much for someone to hunt for the stops left in the system. Personally the market is still too thin for me i will return after New Year.
Quote from Eytan936:
Did anyone see the spike in the Dax in the first 5 minutes of the market this morning (12/27)? The March Contract jump from 8180 to 8250 in the blink of an eye. Eurex told me that it was not a "fat finger"!! Does anyone know what this was due to? A stop going off perhaps? I got hurt a little bit but was able to recover.
Gee, who'd think that on the first day after a 2 day holiday layoff that there'd be stops above the all time high. Duh.
Yes it was a zillion cascading buy stops. The Eurex folks must have been snickering at your inquiry.
Quote from Pa(b)st Prime:
Gee, who'd think that on the first day after a 2 day holiday layoff that there'd be stops above the all time high. Duh.
Yes it was a zillion cascading buy stops. The Eurex folks must have been snickering at your inquiry.
Certainly looked that way. The DAX book is pretty thin in the hour before the cash market opens and probably even thinner than usual due to the festive season, which would exacerbate the effect. It was quite impressive really.
Quote from Eytan936:
Did anyone see the spike in the Dax in the first 5 minutes of the market this morning (12/27)? The March Contract jump from 8180 to 8250 in the blink of an eye. Eurex told me that it was not a "fat finger"!! Does anyone know what this was due to? A stop going off perhaps? I got hurt a little bit but was able to recover.
Might want to ask SocGen if they know anything about this mysterious move?