The flash crash was due to prop desks at banks shutting down. They provided a service that the government is shutting down...
True for stocks probably. Especially with the breakers installed. But I think futures and FX will work fine.
ENDSONGS: I couldnt agree more w you. The price action felt VERY much like may 6th... Def capable of it happening with these conditions. Breakers or none
Yeah Eurostox, I've been trying to play longer term PA with smaller trade sizes more. The daily clearly shows a downtrend. And with the herd mentality of all these trading algos, there have been lots of wild intraday swings in the last months. Most of the swings have been to the downside.
This one is about 1.3% in 30 minutes but it is petering out due to breakers/profit taking. Still 30 minutes to go though...
This one petered out at ~1.7% in an hour. Everytime it seems we are gonna hit 3%, profit taking prevails...
We will see what happens today. Big rundown overnight. So there will either be lots of profit taking or panic selling today. Or a combination. There should be plenty of action today either way.
I put all factors into my "calamaity jane fall off the cliff" formula and the chance is 21.3254% we get a flash crash soon. Of course, if we dont have one, the the chances are 100%, Ef