I was not, but you pre-market people were. The stock market was still open for a bit after the first attack, so what is your memory of how you and other traders were impacted by the news? Did you stop trading and watch the news?
The futures were up a bit even after the first plane hit. Then the second plane hit and the market collapsed.
i was getting ready to take my series 55 that day and was getting some last minute studying at home before the test...I hadnt seen anything until 11:00 when i finally picked up the phone......
Yup. Futures jumped when the first plane hit. I assume traders believed the Fed would have to cut rates as this event would no doubt hurt the ecconomy. The instant the second plane hit, futures moved neative to around -100.
i got out of the WTC subway station 15 minutes before the first plane hit i got into the office in one of Trinity buildings, and remember the futures and semiconductor stocks that i was watching being up in the premarket I heard a noise similar to what a truck makes when it falls into a hole in a road, futures on my screen took a huge dive, i automatically shorted some of the stocks i was watching without knowing what had happened some paper started flying outside of the window as if it was some kind of parade, somebody said that a plane crushed into a building close by and that we should get out, i got out and saw the second plane crush i ran towards the park away from the WTC and tall building, and remember everybody running towards the buildings that were hit, i saw both building collapse and got out of the area on boats that took people to new jersey
I had a limit buy order working at the time. Saw the quotes jumping around and decided to cancel it. If I remember correctly not long afterward the quotes froze.
The kin...no offense bro but the futures jumped because that is called a head fake! It happens all the time on a smaller scale...spike the market by buying a bunch all at once...then sell twice as much on the way down as suckers...like yourself continue to buy! and support your selling when in reality the smart money just bought and really has an intention of getting short.. dude.. it happens all teh time look at some 10 second charts .. i.e. Lets say I want to short 10,000 shares of stock ABC I might buy 3000 then 3000 then then 4000 all in about 2 seconds... as i move the price highe .. forcing the stochastics to tip upwards.. and making a new higher high and other start to buy based on indicators .. i start selling in 200 and 300 lot increments as to not move the mkt too much lower until i have sold 20K shares.. now I am net short 10K shares and i got a much better fill becaseu I inflated the price... the spike had nothing to do with the fed dropping rates..
When the first plane hit, most thought it was a tragic accident. When the 2nd plane hit, everone *knew* it was on purpose i.e. a terror attack. That was when the panic set in. But thanks for the expose on how a bsd such as yourself manipulates the markets at everyone else's expense.
i covered them a few days later as soon as i got access to trading for about 10% profit, i didn't care how the trades turned out just wanted to have the account clean and without positions