that type of nonsense sometimes happens in commodities probably caused by this man asking for payment of prior funds due from overleveraged customers http://newyork.grubstreet.com/13_goodhumor_lg.jpg
Is it some kind of stop loss trigger? I hope this guy post something here. Maybe his boss stabbed a big spike in his a** now.
Guys, might sound a little weird to all of you! I assume the spike till 1687 wasn't a fat finger, but was backed up by a lotta of logic. Lets begin it this way - Somewhere after the markets started improving after the March 2009, Nasdaq has been outperforming S&P and Dow Jones. I assume the markets improved much more than they actually deserved (i.e. cus the US Govt. printed hell lotta $$ and circulated in the monetary system) - The direct effect of which was seen in the markets. Since the last week, markets have been crashing (only apart from the day when the US GDP was released, markets rose up to 2-2.5%). The very next day they took a fall again. Now this guy with 15k Lots would have had a long position for the Dec contract and must be expecting the markets to correct down to a fair value i.e. 20-25% down the current levels. Nasdaq iscurrently trading at 1670 . Hats off to whoever took that position I may be wrong, Please correct if anyone out here has better views.