Why is nasdaq e-mini so "jumpy" today?

C

canadian_dude

Anyone notice the e-mini has been bouncing up and down so fast today ALL DAY that you hardly know where to make your bid?

I know it jumps around a lot at opening, but its 10:45 already and it has been jumping up and down 2 or 3 points almost constantly since opening. I don't think I have ever seen the price move this fast for this long since I started trading them 8 months ago.

What's going on? I know its a strong "up" day so far, but the price volatility is just nuts. You think you will bid 1042, but see see executions happening at 1045 a second later, then its 1043, a tick at 1046, back down to 1042 again, all within 10 seconds. I hardly know where to make my bid/offer to get a "fair" price. You can't even hit the offer because you don't know what the current offer is, it keeps moving too fast.

Any insight into this ?????
 
yeah, I called e-local and was told its the CME sending out erroneous quotes. that explains everything. I know the eminis move around a lot, but these quotes were ridiculous. I was told to use limit orders only if I did any trading, otherwise I could get "butchered" on the price (their words, not mine)
 
This is the notice I received with the jumping price quotes. It's still happening as I write this at 11:09

Notice Number:

Message: MDAPI 2.0 users are reporting latencies. GCC is escalating.
 
Globex screwed us all pretty hard today. The quotes were so messed up. I can't believe that they still don't have it together over there.
 
can we form a class action lawsuit against Globex. I know that you sign those forms when you get quotes, which say the bad data could come accross, but Globex has had bad data TOO MANY TIMES!!! I mean, it gets to a point where a judge will side with you if you can show how the system constantly goes down. I've lost money due to this crap. Is not cool. I do everything to make sure that I have redundancy. I have back up computers. I have a stable internet conection, and a backup modem, ready to connect if needed. I can't believe that I'm doing all that I can, and it still isn't reliable.
 
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