Whoa Baby! What happened?

I had an order to sell stop @854.75 that day. I cancelled it about 4 PM because I did not expect the market to get to this level, plus it was rising at that time, but still far away from my entry, and not declining.

However, I wonder if my order would have gotten filled on the way up or rather on the way down, when the market was dropping? It was an OCA order with a stop loss 5 pts away from the entry and a preliminary target of 10 pts.

Thanks.
 
Yeah, it was just one of those random confluences things. Sort of like what happened to Long Term Capital , only this lasted on ly 10 seconds.

My risk matrix includes random 100 point spikes on ES, does yours?
 
Well, "Whatever" the cause -
here we all sit - - - still awaiting a ...."Decent".... explanation -

"WE JUST CAN'T FIGURE IT OUT" ....... is suppose to suffice ?

The longer it Ferments ........... the more it Stinks.

CME's new Motto -
....................... SILENCE IS GOLDEN .........................
 
Quote from Tea:

[It was determined by the Exchange that March 2003 E-mini S&P 500 trades executed at a price higher than 860.00 were outside the six-point no-bust range for the contract, and that those trades should be “busted” (cancelled


Would somebody explain this rule to me or what, if anything, it has to do with setting that 860 limit because that would be 12 away from 848 which is where I at least recall the event starting.

I'm missing the message here I guess.

Geo
More...
 
Earlier in this thread, I called the electronic exchanges "casinos". I have been thinking about this, and I would like to retract that statement and apologize to all casinos. I have never heard of a casino that takes away a player's winnings after the turn is over, like any serious industry, casinos are capable of making valid and final decisions on the spot. Sometimes they are right, sometimes they are wrong, but at least you don't have to worry about anyone changing his mind 20 minutes later.
 
Quote from Trader5287:
Would somebody explain this rule to me or what, if anything, it has to do with setting that 860 limit because that would be 12 away from 848 which is where I at least recall the event starting.
More...

This implies to me that someone arbitrarily determined that the action up to 856.00 was "normal".
 
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