I know what it was, I put in an order for a 100 QQQ's mkt GTC. Looks like they ran the futures up on my massive buying. Sorry all.
Like a lot of others I was thinking of shorting the spike but them when I saw how wide spread it was I held off. If it was just one stock I would have gone through. You think that is a wise strategy in the long run?
massive spike?? The market has been so dead the last few days, I'll welcome any kind of movement. The summer doldrums are here. There was a time not too long ago that would produce a dozen of those type moves every day, without any news............(the good old days)
There was a million share block of QQQ's at the time of the spike. It was also time to squeeze the lazy shorts, cause there are no longs to squeeze. The biggest pack of fools gets the most attention.
My opinion: I don't think it's wise getting involved with weird shit like that. Only cause I believe your outcome will be more down to luck than anything. You could also make the case that if it was just one stock then there is some "secret" news to it, and it's not "just a spike".
stop or stop limit? with a limit stop order you would be ok but with a stop your order would be a market order once triggered.
but then with a stop limit order if it blows right through your price you might not get filled. Is that right? Cheers Mike