What happened with INTC??

E

EricP

Anyone know what caused the huge spike down in INTC 15 min ago? Extremely wierd... Appears to be an error of some sort.

The stock dropped 4% ($6 billion in market cap) during a two minute period on HUGE volume (~5MM shares). This was followed by a near instant recovery...

I never thought this sort of error (sure looks like an error) could happen in an extremely liquid stock like Intel.

-Eric
 
11:10 INTC Intel follow-up: With respect to bad trade talk, hearing firm tried to sell 10K shares, but that 1 mln sold instead (24.71 -0.06
 
Quote from EqtTrdr:

11:10 INTC Intel follow-up: With respect to bad trade talk, hearing firm tried to sell 10K shares, but that 1 mln sold instead (24.71 -0.06
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Thanks for the quick reply. That error made my day.

-Eric
 
Some hedge fund must have needed to make their quarter.

So they "accidentally" sell a million intel, knowing it will probably be busted. And at the same time, they buy the SPY, QQQQ, DIA, all other semi conductor names on the spike down. Heck, they might even make money without the original trade being busted.

Oh yeah, they probably could have picked up a ton more intel on the lows as the move forced all the vwap programs to sell like crazy.
 
Quote from Htrader:

Some hedge fund must have needed to make their quarter.

So they "accidentally" sell a million intel, knowing it will probably be busted. And at the same time, they buy the SPY, QQQQ, DIA, all other semi conductor names on the spike down. Heck, they might even make money without the original trade being busted.
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lol "accidentally"

love it
 
Quote from Htrader:

So they "accidentally" sell a million intel, knowing it will probably be busted.
More...

I haven't heard any trade busting news to date. Please post if you read or hear news on this.

Thanks,
-Eric
 
My boss said that COCO was hit for like 10 points one day that they broke the sell order on him. Said they put him short from where he sold his stock. this was like 2 years ago
 
Quote from Dustin:

This thread helped my somewhat pathetic trading day. I picked up 4k at .72 :-)
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I only took a little nibble at it. Didn't think it would rally back to the highs.
 

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Quote from Dustin:

This thread helped my somewhat pathetic trading day. I picked up 4k at .72 :-)
More...

Dustin,

lol. I just lucked out, I guess. We were talking about it from the moment it happened in a chatroom where I talk with other traders during the day... My cost basis was about 24.45, although I am worried about a possible trade break.

-Eric
 
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