You put your money down, you play the game. In 1987 meltdorn, Nikkei was offered at 500, with no takers for about 5 minutes. Yesterday the various gold/silver were trading like crazy. Was a great day. Hopefully gold wont tank back to 275 and go back to sleep for 20 years though
Incredible that those trades in YI at -10% or more didn't get busted. Personally I noticed it right as it happened, put an order to buy YI but never transmitted it, as I was not sure beyond which price they would get busted by CBOT (i was sure they'd get busted, just not at what level). YI just stood there at -10% for MINUTES.
that sucks, one reason not to trade the mini, I noticed the big elecytronic contract didn't spike down. Anyway silver seems to go down much faster than it goes up ( one reason i didn't get involved in it and was kicking myself for that until yesterday and today), any explanation for that ?
I just want to mention that I have been calling on the ecbot to see what can be done to reduce this type of thing ... all I can say is it sometimes even happens in gold too ... but not to such an extreme as what happened in silver on the ecbot
Keep in mind that when the Dow dropped 500 points that day, people were stunned. There was serious talk by serious people of major brokers not honoring trades and major banks trying to figure out what their exposure to each other was, before trading anything in Asia that night etc etc. People were really scared about a meltdown. Of course, the world marched on and all the great trades are but a memory. I think it was a Shearson Tokyo broker who started the buying actually that pushed Nikkkei back up, dont remember 100% though - getting old. Another interesting factoid, was that diamond prices popped higher quicker than gold.
looks like gold ZG had some nutty action shortly after 8:30 am EST dropped $5-10 on up to 200+ contracts came back to the figure within a minute somebody has got to do something about this ... its dangerous ... :eek:
You're right - that is ridiculous. If they don't correct/bust that abberation I wouldn't go near zg with a 40 foot barg pole.