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?
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: Message:
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?
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.
..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 expiration...market 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...