Weird SPI action

[Nick29]

That was some weird ass action in the SPI just now. 4760 to 4680 in about 2 seconds.

 

[skc]

Re: SPI

That was some weird ass action in the SPI just now. 4760 to 4680 in about 2 seconds.

That's the Aussie happy new year flash crash...

Tried to catch the bounce with my CFD provider - but they are smarter than that and didn't have the price available for trading

 

[Broadway]

Re: SPI

That's the Aussie happy new year flash crash...

Tried to catch the bounce with my CFD provider - but they are smarter than that and didn't have the price available for trading

Those cfd providers are crooks.
They wouldn't dare provide liquidity in a situation where they know they would lose a few bucks. Stick to the spi futures.
I wonder if that crash was planned and executed to pick up some longs, or just a spontaneous random event. If it was planned they need to be identified, shamed and shot.
But im sure we'll never hear anything about it.

 

[quinn123]

Re: SPI

"a spontaneous random event"?

Is that a Joke? You can't believe that was just some black swan event, had to be caused by something.

 

[Joolean]

Re: SPI

Here's a delta breakdown of that crash from eSignal data.
Bit strange that there were no stops down there? Or possibly the data's just not very valid during such an event.

 

[Liar's Poker]

Re: SPI

Couldn't just be some large fund managers doing some last minute profit taking for the year?

-Liar-

 

[Broadway]

Re: SPI

Couldn't just be some large fund managers doing some last minute profit taking for the year?

-Liar-

They would have sorted that type of stuff out pre-Xmas, when there was some liquidity and they wouldnt be on holidays. (Im guessing).
I have to agree I think someone nasty with deep pockets likely planned this for the thin trading times when no-one is watching.
Thing I dont understand is it happened around 2.05 pm, which is usually when the smarties figure out how the stocks were going to close at the closing auction at 2.10pm.
The banks and bhp/rio all had a 2.10pm closing auction price way below the 2pm last price.
I need someone with expert knowledge of this time usually between 1600 and 1610 to explain this to me.
Anyway, happy new year.

 

[tech/a]

DAX dropped 80 ticks in a minute.

JOOLEAN
That market profile come with e signal data?
Do you have to request it or is it just another charting alternative available?
How do you find Market Profile to trade the SPI with?

 

[Joolean]

DAX dropped 80 ticks in a minute.

JOOLEAN
That market profile come with e signal data?
Do you have to request it or is it just another charting alternative available?
How do you find Market Profile to trade the SPI with?

No it's custom software tech/a and though it does tpo charts, I don't personally use them or the market profile methodology (though I've read the books. The above is just a bid/ask volume chart I thought some might be interested in seeing the breakdown of that crash.

I don't get how it can it plummet 70 points at 1 contract per point all the way down without hitting something. Those sellers at the bottom sure got screwed, or perhaps they were just speculative shorts late to the party. Happy New Year for them. Not.

 

[Alpha_Bet]

The above is just a bid/ask volume chart I thought some might be interested in seeing the breakdown of that crash.

I don't get how it can it plummet 70 points at 1 contract per point all the way down without hitting something. Those sellers at the bottom sure got screwed, or perhaps they were just speculative shorts late to the party. Happy New Year for them. Not.

Thanks for that chart and volume. Yeah, it's a seasonal hazard. Look @ Dax flash crash and also stoppie hunt $AUD on 27/12/10.
Seeing that data you provided on SPI just reminds and reinforces why I switched my focus to OS futures and away from the domestic market. Cheers

 

[Broadway]

I don't get how it can it plummet 70 points at 1 contract per point all the way down without hitting something.

Id like to hear an explanation for that as well.
Is there someone who is required to provide 1 contract liquidity at all times?
Did a program provide that 1 contract liquidity all the way down.
And how is it related to the low stocks close.

 

[skc]

Because the cash XJO also "crashed" some 40pts at the 2:10pm close it probably wasn't a flash crash or glitch. Over the weekend I thought someone just decided to have a lower starting point for Q1 2011 but based on today's SPI action someone just wanted to do some selling...