What happened with INTC??

Discussion in 'Trading' started by EricP, May 12, 2005.

  1. EricP


    Anyone know what caused the huge spike down in INTC 15 min ago? Extremely wierd... Appears to be an error of some sort.

    The stock dropped 4% ($6 billion in market cap) during a two minute period on HUGE volume (~5MM shares). This was followed by a near instant recovery...

    I never thought this sort of error (sure looks like an error) could happen in an extremely liquid stock like Intel.

  2. 11:10 INTC Intel follow-up: With respect to bad trade talk, hearing firm tried to sell 10K shares, but that 1 mln sold instead (24.71 -0.06
  3. EricP


    Thanks for the quick reply. That error made my day.

  4. Htrader

    Htrader Guest

    Some hedge fund must have needed to make their quarter.

    So they "accidentally" sell a million intel, knowing it will probably be busted. And at the same time, they buy the SPY, QQQQ, DIA, all other semi conductor names on the spike down. Heck, they might even make money without the original trade being busted.

    Oh yeah, they probably could have picked up a ton more intel on the lows as the move forced all the vwap programs to sell like crazy.

  5. lol "accidentally"

    love it
  6. EricP


    I haven't heard any trade busting news to date. Please post if you read or hear news on this.

  7. Dustin


    This thread helped my somewhat pathetic trading day. I picked up 4k at .72 :)
  8. My boss said that COCO was hit for like 10 points one day that they broke the sell order on him. Said they put him short from where he sold his stock. this was like 2 years ago
  9. Htrader

    Htrader Guest

    I only took a little nibble at it. Didn't think it would rally back to the highs.
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  10. EricP



    lol. I just lucked out, I guess. We were talking about it from the moment it happened in a chatroom where I talk with other traders during the day... My cost basis was about 24.45, although I am worried about a possible trade break.

    #10     May 12, 2005