Why the EUREX Spike Today?

Discussion in 'Index Futures' started by himself, Aug 8, 2003.

  1. himself

    himself

    At exactly 5:00 AM Eastern Time, 11:00 AM Central European Time,
    the Eurex indices spiked sharply today.

    I noticed the same thing happen a couple of weeks ago.

    Any idea what happened (happens) at that time?

    Thanks
     
    #1     Aug 8, 2003
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  2. RSPhoenix

    RSPhoenix

    Hi,

    I think there is no special reason for these spikes. We saw strong short-selling early this week and its continuation in the first few minutes this morning. That's why I suppose some stop orders responsible for this little rally at 11 AM CET.

    Let's look at the FDAX 09/03 Time&Sales:

    10:59:00 last: 3347.0 total volume: 12924
    11:00:33 last: 3351.5 total volume: 13403
    11:00:35 last: 3359.0 total volume: 13702

    You can see heavy activity at that time. This indicates some emergency trades. There was no decisive reason apart from the stop of the short term downtrend.

    bye!
     
    #2     Aug 8, 2003
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