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Started By
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What just happened? Why'd the market fall and rebound so quickly today?
Posted on 4/23/13 at 12:23 pm
Posted on 4/23/13 at 12:23 pm
At lunch noticed a chart of tvix went from 2.81 to 3.15 and right back down in a matter of minutes....what caused a spike in the vix so quickly?
3
Posted on 4/23/13 at 12:24 pm to ThaBigFella
Someone hacked into AP's twitter account and posted that the white house was bombed and the President was injured.
Posted on 4/23/13 at 12:27 pm to ThaBigFella
I noticed that too... Cray cray...
Posted on 4/23/13 at 12:28 pm to Janky
quote:
Someone hacked into AP's twitter account and posted that the white house was bombed and the President was injured.
Holy shite, this was legit...
Posted on 4/23/13 at 12:29 pm to ThaBigFella
quote:
What just happened? Why'd the market fall and rebound so quickly today?
I sold all of my stocks and then bought back....
This post was edited on 4/23/13 at 12:32 pm
Posted on 4/23/13 at 12:30 pm to LSURussian
quote:
I sold all of my stocks and then bought back....
Posted on 4/23/13 at 12:31 pm to LSURussian
quote:
I sold all of my stocks and then bought back....
Fastest fingers on the planet
Posted on 4/23/13 at 12:32 pm to Janky
It's amazing to me that one tweet has that much immediate effect on the markets...
Posted on 4/23/13 at 12:32 pm to Janky
quote:TWSS
Fastest fingers on the planet
Posted on 4/23/13 at 12:35 pm to OnTheBrink
quote:
It's amazing to me that one tweet has that much immediate effect on the markets
I know. It shows you how much news (good or bad) has a big effect on the market.
Posted on 4/23/13 at 12:36 pm to Janky
Crazy shite, but I have to wonder about someone who makes his investment decisions based on the AP twitter feed?
Posted on 4/23/13 at 12:39 pm to Cold Cous Cous
quote:
Crazy shite, but I have to wonder about someone who makes his investment decisions based on the AP twitter feed?
I'm sure it was an HFT as opposed to an actual person. While I can't be 100% sure, I doubt traders are hanging out on twitter all day.
Posted on 4/23/13 at 12:40 pm to Cold Cous Cous
quote:
Crazy shite, but I have to wonder about someone who makes his investment decisions based on the AP twitter feed?
I was just coming to reply again and saw your post. Exactly, I mean could you imagine seeing that tweet and the first thing you think is "Holy shite, the end is here. Must withdraw all of my money now." I didn't realize there were that many of "them" out there to make that big of a difference on the market.
Posted on 4/23/13 at 12:44 pm to OnTheBrink
quote:
I didn't realize there were that many of "them" out there to make that big of a difference on the market
Equity space is very, very full of HF algorithmic traders. However, dealers can still move the market more than anybody and HF guys aren't the big reason we had such a bounce today.
Want to go down the equity platform and HFT/quote stuffing rabbit hole? Click here and have fun.
ETA: Little clarity on the algorthim traders, there are some HF shops that have programs that scan news and immediately trade based on breaking news as soon as it hits the feed. They just code it to look for key nouns and verbs.
This post was edited on 4/23/13 at 12:45 pm
Posted on 4/23/13 at 12:48 pm to BennyAndTheInkJets
quote:
Click here and have fun.
Might as well be in Chinese.
quote:
They just code it to look for key nouns and verbs.
Interesting. Thanks for the reply.
Posted on 4/23/13 at 12:49 pm to BennyAndTheInkJets
From zerohedge: LINK
Posted on 4/23/13 at 12:51 pm to BennyAndTheInkJets
So, can anything be learned from this.
For example, I have a postition in XOM and GE, and both of those positions experienced the same downward spike. I noticed KO did as well. Those are the only ones I follow that spiked, but I am sure more did.
Is it safe to assume that HF's own a lot of each of those?
For example, I have a postition in XOM and GE, and both of those positions experienced the same downward spike. I noticed KO did as well. Those are the only ones I follow that spiked, but I am sure more did.
Is it safe to assume that HF's own a lot of each of those?
Posted on 4/23/13 at 12:54 pm to OnTheBrink
I think what he's saying is that the HFTs and dealers just hit SELL when this tweet came out.
This post was edited on 4/23/13 at 12:55 pm
Posted on 4/23/13 at 12:54 pm to BACONisMEATcandy
quote:
From zerohedge
A comment under the article from "The Limerick King":
The market was crashed by a tweet
The algos just cannot be beat
A simple display
Of rules gone astray
And how HFT algos cheat
Posted on 4/23/13 at 12:54 pm to BACONisMEATcandy
ZH is a really good source when they link Nanex, EPFR, ICI, ISI, Strategas, Rosenberg, or a few other economists.
That article is case in point why there will always be human jurisdiction over equity markets. If that wasn't immediately bounced back, the physical exchange would halt trading, cancel the trades, then reopen. You can't just create Skynet and unhook the leash. The physical exchange would not cancel a set of large block orders from dealers unless it completely unraveled the market or it was started by a "flash" type scenario.
That article is case in point why there will always be human jurisdiction over equity markets. If that wasn't immediately bounced back, the physical exchange would halt trading, cancel the trades, then reopen. You can't just create Skynet and unhook the leash. The physical exchange would not cancel a set of large block orders from dealers unless it completely unraveled the market or it was started by a "flash" type scenario.
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