What happened at 3:45est???

Discussion in 'Trading' started by Dustin, Oct 2, 2002.

  1. Dustin


    All of a sudden about 40 stocks I watch dropped their bids a dollar or more and some printed blocks. Look at ITW, IBM, EK for example.

    Was that a huge sell program?? Hedge fund blow up??
  2. my stock dropped but the cock brought it right back up
  3. Bryan Roberts

    Bryan Roberts Guest

    i'd love to know because i was short adi and he moved the bid down one buck...i made a lousy 10 cents on it...what the f---!!!
  4. ElCubano


    15:47 ET Breakdown into close being blamed on an institutional sell program

    15:54 ET Trading floors abuzz with talk that sell program was errant
    Market managing a minor bounce off lows of the session. Hearing talk that the sell program that took equities down late was supposed to be entered in dollar terms, but was apparently entered as shares. Obviously, we have no confirmation of this, but talk of it is going around. And, given bearish slant by most traders of late, it does not seem like a rumor put out in hopes of rescuing the market.

  5. dvcma


    Don't feel bad CVX Bid 65.00 Ask 71.50 (at 3:40 EST)stayed there for a minute or two - got scared cancelled all my orders:confused:
  6. well, well...

    about time
  7. Weasel


    GE's bid dropped to 23 with an ask of 24.60 (low of the day) and what looked like a ton of stock for sale at 24.60. Then a large block 769k printed at 24.60 and they ran the stock to 24.80 on some very large blocks. If this happened to a number of other stocks I'd think it must have been some type of program trading. The talking heads on the idiot box (CNBC) said there was a large seller in the S&P pits.
  8. dude next to me had 5k stop at 60.00 in IBM
    Dropped bid to 55.
    Tried to cancel stop order immediately.
    4 Minutes later got filled at 58.75/
    Sent 5k Market to get out of screw job
    covered 59.90.
    How is that for a $6,000 fuck job
  9. Rumor was a sell program got stuck in sell mode at Bear Sterns.
    Just sending sell , sell over and over and over and over again

  10. nitro


    PREM dropped to -3.89. I was fortunate enough to notice this at the moment it happened.

    #10     Oct 2, 2002