This is ridiculous. Some loser hacked the Associated Press’s twitter account and published a story that two bombs detonated at the white house, injuring Obama.
This is more reason to hate high frequency trading, where robots run amok based upon baseless faux news, which could be easily discarded by people with brains.
Now look at the drop in the SPY, following that fake news.
How many people just got stopped out of positions due to this?
I hope the testicle fondlers who did this get buried in a Federal prison.
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Give it time. Soon the robots and drones will have 3d printed brains ($DDD) and there will be no need for humans whatsoever.
You can make serious money doing this crap, maybe.
That’ll teach those news reading algos. All of them have an instant loss.
Yep, that was weird, my port has been humming along all day and then splat…knuckleheads. GTAT rockign though and I was just about to pull the trigger and buy some on your initial post about solar and didn’t. Two weeks I had my eye on PWER as it was pulling in and didn’t buy and we all know what happened yesterday.
some hack short a ton of /ES futes just made a ton …the new scam!
Came really close to gap fill ES
Nano seconds…and over 70% plus off all trades these days come from that. Darn you Physic Geeks/Quants
just be smart and do what we do…don’t use stop ..you’lll be fine your all going to FEMA camps anyway !
The price action actually made me think a bomb might of gone off, oddly enough.
Just came here when I saw the flash crash.
Wot a mess.
I wonder if anyone models a flash crash into their spreadsheets or VAR.
Another difficult thing to account for. Total joke.
Everyone jokes about the effect of HFT’s, but how is it possible that this is the type of market the sec is allowing to exist?
it tells me that there’s no real bid underthe market. What if the story was real? At the pace we were moving we would have hada down 1,000 DOW day…Something needs to be done as this is a joke.
Senior Fly,
I think the “home” link on the top navigation is broken.
I keep getting a banned page when I click on it,
Of course..I could be banned.
Not sure.
A reminder that day trading is an idiots game.
An idiots game? I caught part of the run up in the morning for +3.00pts, and once the uptrend line was broken I got short with a stop order under the small support shelf that formed prior to the news. The volume was massive which confirmed the move, unfortunately price recovered and half my position was taken out @ b/e, but the other half was scaled out at obvious support levels where price was expected to bounce.. daytrading is not an idiots game if you understand basic TA
Obviously this kind of occurrence is absurd and unethical, but if your expecting fair markets or ethical behavior in markets your in the wrong business (obviously this news was created so people could position themselves short), wall street has always been cut throat, people profit from tragic news stories all the time, insider trading, and the financial media is a total joke. I expect things will only get worse, not better, so expect it, deal with it, and if possible learn to profit from it. To day traders this was an opportunity, and day traders are the only people who had a chance of making some coin off of this kind of movement, it happened fast, but even news driven markets create technical signals
I’m steamed because I didn’t make any money off that debacle.
The Little Guy ~ hosed again!
I was piloting the John Deere around the front 40. Completely missed the trigger finger mess. Welcome to 2013 and the real reasons markets move.
Love the action. I have a handful of bids that got hit during the mini flash. ka ching