ES between 3 and 3:15 pm CST on 2/4/03

Discussion in 'Index Futures' started by daydreaming, Feb 4, 2003.

  1. What happened on 2/4/2003 between 3 and 3:15 pm CST? ES quotes went as high as 948 from 847 in 3 minutes? Did Globex have a technical problem or somebody was trying to clean up stops? Is this common?
  2. Marty


    Subject: ESH3 Trades above 86000 are in question
    This is a Message From: GLOBEX Control Center
    Effect Date: Tue February 4, 2003 03:16 pm CST
    Notice Number:

  3. qdz2


    This happens once two to three months. Learn it before you play futures. Good luck.

  4. qdz,
    I have been trading es for about a year & have seen nothing like this before. I also see nothing like this in historical charts. Are you sure about your comment - particularly regarding the size of this spike?
  5. gnome


    Did some fool bid for 5000 at the market when CSCO's earnings report hit to cause that? :cool:
  6. McCloud



    These death spikes used to happen more often up to a couple of years ago..fwiw
  7. Usually in response to surprise intraday rate cuts.

    Check out 1/03/01, and 4/18/01.

    I remember these well since I was long both times, and bailed for lunch each time.

    But they don't happen much anymore.
  8. ..and lets not forget oct 15, 1998...that was really sinister...about 2 minutes after the bond market closed and the day before october options went flying and never looked back...set up the entire final move higher into 2000...

    its a good thing greenspan does not have the proverbial "bullets" anymore...that kind of trickery should be removed from the markets...
  9. nitro


    All trades above 860 are busted per CME.

    They are investigating the problem.

  10. Stops are you friend.
    #10     Feb 4, 2003