of course I cannot see how many contracts exactly were sold, since I have only tick data to compute from. The screenshot is made of my software running. The blue line indicates that there was severe resistance to the small rally before the downmove (5 pts). I estimate someone sold something between 5 - 15k during this phase. It could be 30k contr. as well, about 70k were traded totally during this time. The blue line (an indicator I developed for myself) shows anyway that something was not right with this micro rally anyway.
Aaron, Yeah, FP got it right. I was thinking the same thing, but I was startled for at least thirty seconds as I heard the squawk go to into complete and utter pandimonium. When I looked at the ES and the NQ and did a quick mental calculation that something bizzarre had happened in YM, I tried to get long Qs. The bid was at .65, the offer was at .62 (!) and I kept seeing .54's go by!!!!????? I could not lift the offer on the Qs to save my life. nitro
the most successful scam is the simple one. So simple that it always get a comment like this. They did it and they get away with it, it was an easy trade so they will take it again and again.
It is not so much a matter how simple a scam is, it matters much more how good you destroy every evidence for it.
For the more adventurous, : how about this... someone entered a stop order to sell a massive amount (mistakenly added a few 0's) of contracts if the market hit some deep low. The stop order was seen or "smelled", and those B*stards on the pit floor know where the big stop orders are , dont let anyone tell u different, the market was thin so it was tee'd up nicely to bang a big sell order in an illiquid market to drive down SnP to that limit where they sold to the poor fellow... arbitrage took the index back up swiftly... Kaboom! someones loaded
You realize that 10,000 contracts is half a billion dollars BP to throw out there on the hope that the trade is broken? Also, following your logic.....one would also need significant additional BP to place the other "half" of the trade.......where the illicit profit is actually realized...also with the hope that it is NOT broken...... Billion dollars BP on a scam that any rube can see. Yep - makes perfect sense to me now.......