ES low 1358 ?????

Quote from abxs:

http://www.tradertom.com/analysis.htm

He writes:

"...Someone, an unfortunate soul, just made an error and sold 60,000 e-mini contracts and plunged the market for a minute or so. Now we are back up to where we were."
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that does not explain why it went up first, then down hard.
Furthermore the single downticks where all on volume <10k so I don't know why he did not a little more research before posting something that is obviously not true.
 
Quote from Topsurfi:

that does not explain why it went up first, then down hard.
Furthermore the single downticks where all on volume <10k so I don't know why he did not a little more research before posting something that is obviously not true.
More...

I'm not sure what the single trade size limit is in ES, but I'm sure it is less than 60,000. So if someone actually wanted to move that kind of size, they would have to break the order up into smaller chunks. Therefore you would not see a single trade for anywhere near 60,000 ES.
 
To GLOBEX traders:
Mon Jan 14 03:34:47 2008 EST

GLOBEX has ruled to bust a number of trades which occurred between 01:01 and 01:05 Chicago time in the ranges specified below for each contract:

ESH8 - executions above 14,220 and below 13,980
SPH8 - execution below 13,980
NQH8, NDH8 - executions below 19,060
ZDH8, YMH8, DDH8 - executions below 12,550
EMDH8 - executions below 79,350
NQM8 - executions below 1,922
ER2H8 - executions below 70,230

We shall be removing any such executions from your account shortly.
 
Quote from RichardRimes:

...WHY are they (globex) allowed to do that? and WHO choses which strikes to bust?
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uhh...maybe something about maintaining a fair and orderly market??
 
Quote from Trader5287:

To GLOBEX traders:
Mon Jan 14 03:34:47 2008 EST

GLOBEX has ruled to bust a number of trades which occurred between 01:01 and 01:05 Chicago time in the ranges specified below for each contract...
More...

Hey, 87! I see that chat is working again. :)

Past my bedtime. See you in the later AM.
 
Quote from RichardRimes:

WHO decides to bust trades?
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They must have a night crew..Has to be lower managment people.

They must look at their own account to "help" make that decision.

Would not be surprised if they see who did it and why, and if it is a big house they "fix it"
 
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