This Is What A $130 Million Market Levitating Fat Finger Looks Like

Tyler Durden's picture

Earlier we reported on a completely inexplicable 10% surge in the IWR ETF resulting from a whole lot of busted trades. We didn't know precisely how many trades were involved until the kind folks at Nanex sent us this cheat sheet. The answer: 1,379,128 shares of IWR! Which, at the prices crossed, amounts to just over $130 million. We wonder: which algo could afford to lose $130 million on what in retrospect was a busted fat finger, and just what is the purpose of lifting every single offer into an offerless market beyond the point of ridiculousness? Luckily, the trades, which crossed just after close, did not happen 5 minutes earlier, or the market would have seen a fully blown inverse flash crash, carrying across all asset classes. On the other hand, we know of one person who is very focused on the Russell 2000 as an indication of the overall strength of the economy. Is the Fed now, in perpetuating its 3rd mandate, solely focused on buying IWR (and/or other) ETFs?

From Nanex:

And below are the actual 1,379,128 busted shares:

Cancelled Trades:

tc|NxTime|Symbol|Listed Exg|CorrectionType|OrgSeq|OrgCond|OrgPrice|OrgSize|
16:53:10|eIWM|PACF|Cancel;Busted;|225190|98|94.35000|292|
16:53:10|eIWM|PACF|Cancel;Busted;|225191|98|94.35000|500000|
16:53:10|eIWM|PACF|Cancel;Busted;|225192|98|94.35000|499708|
16:53:10|eIWM|PACF|Cancel;Busted;|225193|98|94.35000|230|
16:53:10|eIWM|PACF|Cancel;Busted;|225194|98|94.35000|560|
16:53:10|eIWM|PACF|Cancel;Busted;|225195|98|94.35000|928|
16:53:10|eIWM|PACF|Cancel;Busted;|225196|98|94.35000|581|
16:53:10|eIWM|PACF|Cancel;Busted;|225197|98|94.35000|178|
16:53:10|eIWM|PACF|Cancel;Busted;|225198|98|94.35000|1200|
16:53:10|eIWM|PACF|Cancel;Busted;|225199|98|94.35000|2360|
16:53:10|eIWM|PACF|Cancel;Busted;|225200|98|94.35000|7638|
16:53:10|eIWM|PACF|Cancel;Busted;|225201|98|94.35000|2800|
16:53:10|eIWM|PACF|Cancel;Busted;|225202|98|94.35000|1000|
16:53:10|eIWM|PACF|Cancel;Busted;|225203|98|94.35000|4562|
16:53:10|eIWM|PACF|Cancel;Busted;|225204|98|94.35000|2800|
16:53:10|eIWM|PACF|Cancel;Busted;|225205|98|94.35000|2638|
16:53:10|eIWM|PACF|Cancel;Busted;|225206|98|94.35000|2800|
16:53:10|eIWM|PACF|Cancel;Busted;|225207|98|94.35000|181|
16:53:10|eIWM|PACF|Cancel;Busted;|225208|98|94.35000|204|
16:53:10|eIWM|PACF|Cancel;Busted;|225209|98|94.35000|609|
16:53:10|eIWM|PACF|Cancel;Busted;|225210|98|94.35000|591|
16:53:10|eIWM|PACF|Cancel;Busted;|225211|98|94.35000|9409|
16:53:10|eIWM|PACF|Cancel;Busted;|225212|98|94.35000|291|
16:53:10|eIWM|PACF|Cancel;Busted;|225213|98|94.35000|2509|
16:53:10|eIWM|PACF|Cancel;Busted;|225214|98|94.35000|1000|
16:53:10|eIWM|PACF|Cancel;Busted;|225215|98|94.35000|6191|
16:53:10|eIWM|PACF|Cancel;Busted;|225216|98|94.35000|3809|
16:53:10|eIWM|PACF|Cancel;Busted;|225217|98|94.35000|2800|
16:53:10|eIWM|PACF|Cancel;Busted;|225218|98|94.35000|1000|
16:53:10|eIWM|PACF|Cancel;Busted;|225219|98|94.35000|1991|
16:53:10|eIWM|PACF|Cancel;Busted;|225220|98|94.35000|8009|
16:53:10|eIWM|PACF|Cancel;Busted;|225221|98|94.35000|1591|
16:53:10|eIWM|PACF|Cancel;Busted;|225222|98|94.35000|1209|
16:53:10|eIWM|PACF|Cancel;Busted;|225223|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225224|98|94.35000|7391|
16:53:11|eIWM|PACF|Cancel;Busted;|225225|98|94.35000|2609|
16:53:11|eIWM|PACF|Cancel;Busted;|225226|98|94.35000|2800|
16:53:11|eIWM|PACF|Cancel;Busted;|225227|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225228|98|94.35000|113|
16:53:11|eIWM|PACF|Cancel;Busted;|225229|98|94.35000|277|
16:53:11|eIWM|PACF|Cancel;Busted;|225230|98|94.35000|9610|
16:53:11|eIWM|PACF|Cancel;Busted;|225231|98|94.35000|2800|
16:53:11|eIWM|PACF|Cancel;Busted;|225232|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225233|98|94.35000|2129|
16:53:11|eIWM|PACF|Cancel;Busted;|225234|98|94.35000|7871|
16:53:11|eIWM|PACF|Cancel;Busted;|225235|98|94.35000|2800|
16:53:11|eIWM|PACF|Cancel;Busted;|225236|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225237|98|94.35000|4232|
16:53:11|eIWM|PACF|Cancel;Busted;|225238|98|94.35000|200|
16:53:11|eIWM|PACF|Cancel;Busted;|225239|98|94.35000|5568|
16:53:11|eIWM|PACF|Cancel;Busted;|225240|98|94.35000|2800|
16:53:11|eIWM|PACF|Cancel;Busted;|225241|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225242|98|94.35000|2832|
16:53:11|eIWM|PACF|Cancel;Busted;|225243|98|94.35000|600|
16:53:11|eIWM|PACF|Cancel;Busted;|225244|98|94.35000|6568|
16:53:11|eIWM|PACF|Cancel;Busted;|225245|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225246|98|94.35000|2800|
16:53:11|eIWM|PACF|Cancel;Busted;|225247|98|94.35000|10000|
16:53:11|eIWM|PACF|Cancel;Busted;|225248|98|94.35000|804|
16:53:11|eIWM|PACF|Cancel;Busted;|225249|98|94.35000|1996|
16:53:11|eIWM|PACF|Cancel;Busted;|225250|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225251|98|94.35000|10000|
16:53:11|eIWM|PACF|Cancel;Busted;|225253|98|94.35000|2800|
16:53:11|eIWM|PACF|Cancel;Busted;|225254|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225255|98|94.35000|10000|
16:53:11|eIWM|PACF|Cancel;Busted;|225256|98|94.35000|2800|
16:53:12|eIWM|PACF|Cancel;Busted;|225257|98|94.35000|1000|
16:53:12|eIWM|PACF|Cancel;Busted;|225258|98|94.35000|22404|
16:53:12|eIWM|PACF|Cancel;Busted;|225259|98|94.35000|27596|
16:53:12|eIWM|PACF|Cancel;Busted;|225260|98|94.35000|16000|
16:53:12|eIWM|PACF|Cancel;Busted;|225261|98|94.35000|700|
16:53:12|eIWM|PACF|Cancel;Busted;|225262|98|94.35000|6000|
16:53:12|eIWM|PACF|Cancel;Busted;|225263|98|94.35000|6000|
16:53:12|eIWM|PACF|Cancel;Busted;|225264|98|94.35000|4000|
16:53:12|eIWM|PACF|Cancel;Busted;|225265|98|94.35000|2000|
16:53:12|eIWM|PACF|Cancel;Busted;|225266|98|94.35000|2000|
16:53:12|eIWM|PACF|Cancel;Busted;|225267|98|94.35000|2000|
16:53:12|eIWM|PACF|Cancel;Busted;|225268|98|94.35000|2000|
16:53:12|eIWM|PACF|Cancel;Busted;|225269|98|94.35000|300|
16:53:12|eIWM|PACF|Cancel;Busted;|225270|98|94.35000|100|
16:53:12|eIWM|PACF|Cancel;Busted;|225271|98|94.35000|100|
16:53:12|eIWM|PACF|Cancel;Busted;|225272|98|94.35000|100|
16:53:12|eIWM|PACF|Cancel;Busted;|225274|98|94.35000|1500|
16:53:12|eIWM|PACF|Cancel;Busted;|225275|98|94.35000|800|
16:53:12|eIWM|PACF|Cancel;Busted;|225276|98|94.35000|200|
16:53:12|eIWM|PACF|Cancel;Busted;|225277|98|94.35000|400|
16:53:12|eIWM|PACF|Cancel;Busted;|225278|98|94.35000|100|
16:53:12|eIWM|PACF|Cancel;Busted;|225279|98|94.35000|2400|
16:53:12|eIWM|PACF|Cancel;Busted;|225280|98|94.35000|2200|
16:53:12|eIWM|PACF|Cancel;Busted;|225281|98|94.35000|5000|
16:53:12|eIWM|PACF|Cancel;Busted;|225282|98|94.35000|500|
16:53:12|eIWM|PACF|Cancel;Busted;|225283|98|94.35000|500|
16:53:12|eIWM|PACF|Cancel;Busted;|225284|98|94.35000|200|
16:53:12|eIWM|PACF|Cancel;Busted;|225285|98|94.35000|300|
16:53:12|eIWM|PACF|Cancel;Busted;|225286|98|94.35000|200|
16:53:12|eIWM|PACF|Cancel;Busted;|225287|98|94.35000|250|
16:53:12|eIWM|PACF|Cancel;Busted;|225288|98|94.35000|1140|
16:53:12|eIWM|PACF|Cancel;Busted;|225289|98|94.35000|250|
16:53:13|eIWM|PACF|Cancel;Busted;|225290|98|94.35000|266|
16:53:13|eIWM|PACF|Cancel;Busted;|225291|98|94.35000|1500|
16:53:13|eIWM|PACF|Cancel;Busted;|225292|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225293|98|94.35000|1190|
16:53:13|eIWM|PACF|Cancel;Busted;|225294|98|94.35000|4000|
16:53:13|eIWM|PACF|Cancel;Busted;|225295|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225296|98|94.35000|115|
16:53:13|eIWM|PACF|Cancel;Busted;|225297|98|94.35000|470|
16:53:13|eIWM|PACF|Cancel;Busted;|225298|98|94.35000|10400|
16:53:13|eIWM|PACF|Cancel;Busted;|225299|98|94.35000|2002|
16:53:13|eIWM|PACF|Cancel;Busted;|225300|98|94.35000|620|
16:53:13|eIWM|PACF|Cancel;Busted;|225301|98|94.35000|100|
16:53:13|eIWM|PACF|Cancel;Busted;|225302|98|94.35000|500|
16:53:13|eIWM|PACF|Cancel;Busted;|225303|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225304|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225305|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225306|98|94.35000|250|
16:53:13|eIWM|PACF|Cancel;Busted;|225307|98|94.35000|636|
16:53:13|eIWM|PACF|Cancel;Busted;|225308|98|94.35000|547|
16:53:13|eIWM|PACF|Cancel;Busted;|225309|98|94.35000|1000|
16:53:13|eIWM|PACF|Cancel;Busted;|225310|98|94.35000|1000|
16:53:13|eIWM|PACF|Cancel;Busted;|225311|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225312|98|94.35000|1400|
16:53:13|eIWM|PACF|Cancel;Busted;|225313|98|94.35000|321|
16:53:13|eIWM|PACF|Cancel;Busted;|225314|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225315|98|94.35000|100|
16:53:13|eIWM|PACF|Cancel;Busted;|225316|98|94.35000|100|
16:53:13|eIWM|PACF|Cancel;Busted;|225317|98|94.35000|1000|
16:53:14|eIWM|PACF|Cancel;Busted;|225318|98|94.35000|389|
16:53:14|eIWM|PACF|Cancel;Busted;|225319|98|94.35000|120|
16:53:14|eIWM|PACF|Cancel;Busted;|225320|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225321|98|94.35000|350|
16:53:14|eIWM|PACF|Cancel;Busted;|225322|98|94.35000|800|
16:53:14|eIWM|PACF|Cancel;Busted;|225323|98|94.35000|139|
16:53:14|eIWM|PACF|Cancel;Busted;|225324|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225325|98|94.35000|400|
16:53:14|eIWM|PACF|Cancel;Busted;|225326|98|94.35000|155|
16:53:14|eIWM|PACF|Cancel;Busted;|225327|98|94.35000|184|
16:53:14|eIWM|PACF|Cancel;Busted;|225328|98|94.35000|1725|
16:53:14|eIWM|PACF|Cancel;Busted;|225329|98|94.35000|200|
16:53:14|eIWM|PACF|Cancel;Busted;|225330|98|94.35000|300|
16:53:14|eIWM|PACF|Cancel;Busted;|225331|98|94.35000|380|
16:53:14|eIWM|PACF|Cancel;Busted;|225332|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225333|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225334|98|94.35000|300|
16:53:14|eIWM|PACF|Cancel;Busted;|225335|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225336|98|94.35000|101|
16:53:14|eIWM|PACF|Cancel;Busted;|225337|98|94.35000|200|
16:53:14|eIWM|PACF|Cancel;Busted;|225338|98|94.35000|1170|
16:53:14|eIWM|PACF|Cancel;Busted;|225339|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225340|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225341|98|94.35000|270|
16:53:14|eIWM|PACF|Cancel;Busted;|225342|98|94.35000|119|
16:53:14|eIWM|PACF|Cancel;Busted;|225343|98|94.35000|300|
16:53:14|eIWM|PACF|Cancel;Busted;|225344|98|94.35000|300|
16:53:14|eIWM|PACF|Cancel;Busted;|225345|98|94.35000|49700|
16:53:14|eIWM|PACF|Cancel;Busted;|225346|98|94.35000|400|
16:53:14|eIWM|PACF|Cancel;Busted;|225347|98|94.35000|775|
16:53:15|eIWM|PACF|Cancel;Busted;|225348|98|94.35000|125|
16:53:15|eIWM|PACF|Cancel;Busted;|225349|98|94.35000|200|
16:53:15|eIWM|PACF|Cancel;Busted;|225350|98|94.35000|100|

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gwar5's picture

So many fat swollen fingers and I thought Bloomberg cut their salt off.

bigelkhorn's picture

Yes totally busted. I cant stand to watch when this morons say it was a fat finger when we know this is what is going on. 

I subscribe to the guy from australia and his FFT economic newsletter at http://www.forecastfortomorrow.com  that guy has called many big events before they have happend, including the stock market crash in 2008 and the current financial collapse of the US. (currently happening) I found him from a friend last year, and he has some important work.


These guys are no fat finger they are also calling for 1400 in the stockmarket coming soon. 

redpill's picture

Whoever owns these fucking machines should be forced to take responsibility for their actions, and this shit would clear up in a hurry.

longorshort's picture

Guys this is a spammer on board.

DavidC's picture

longorshort,
Explain please?

DavidC

hambone's picture

Look at TNA - flashed just ahead of IWR to exactly $95 from moments before $93'ish...coincidence???

Cdad's picture

Hambone,

It doesn't mean anything.  There is no problem.  It was an honest mistake.  Fat finger.  Get over it.  Nothing to see here.  Duncan Niederauer is a very nice man.

Ham, did your mother breast feed you?  Do you believe in aliens?  Do you eat a lot of fluoride?  

Sheesh....just baaaaallow the sheeeeple.  I hear shares of Caterpillar are historically cheap.

hambone's picture

Cdad,

thanks for asking and yes, my mother did cut me off from the good stuff right away (curse of being the 3rd child); I believe Mexicans and Europeans (among others) live in America; and I like the taste of toothpaste if that's what you mean? 

Thanks also for the hot stock tip...

Most importantly seems I and many other ZH'ers need to retake our civics, finance, economics, and history courses to better align w/ the new Merica we live in. 

aint no fortunate son's picture

SRTY dropped about 15 cents on about 5000 shares dumped at 15:59:59 before they brought it back on a couple hundred shares at 16:00:00

Cdad's picture

Is the Fed now, in perpetuating its 3rd mandate, solely focused on buying IWR (and/or other) ETFs?

Ummmm....Tyler....ummmmm....I'm a reasonable man.  I don't believe in UnicornDew powered cars, nor do I think  $12 burrito chain stores are the answer to America's inverse wealth effect.  However, I'm going out on a limb and answering YES to your question.  Wasn't it you that discovered just how ridiculous the T Bill buyers at the Fed really are?  Can we assume similar equity skills?

Cognitive Dissonance's picture

Is the Fed now, in perpetuating its 3rd mandate, solely focused on buying IWR (and/or other) ETFs?

Does a bear shit in the woods........or the Fed's executive washroom?

Cdad's picture

Speaking as a bear, I prefer the woods, brother Cog.

Cognitive Dissonance's picture

Speaking from personal experience and being smarter than your average bear, that poison ivy can be a bitch. :>)

Exit stage right.

Misean's picture

"Exit stage right."

That's Snagglepuss's line.

Cognitive Dissonance's picture

Yogi's right, not Snagglepuss's.

 

 

Cognitive Dissonance's picture

There is great joy in reliving our early childhood television conditioning. However that also means senility is just around the corner.

The only thing I don't look forward to is the Depends. Though seen from a posistive point of view all those fine fillies at the nursing home will assume the bulky gathering between my legs simply means old CD is happy to see them. At that point I'll need all the help I can get. :>)

RockyRacoon's picture

You're in rare form today.  Get a little nap did ya?

vxpatel's picture

sleep aid...particularily when made into infused olive oil or butter

 

http://en.wikipedia.org/wiki/Cannabis_indica

New_Meat's picture

bearz b excluded from any Fed washroom, don't cha' know ;-) - Ned

dizzyfingers's picture

An idea is born.

Let's ALL poop in the Fed's executive washroom!!!

Pepe's picture

Well, at least finally we found the smoking gun, the true WMD's

dizzyfingers's picture

Yep, and they weren't in Iraq.

Does this announcement mean that lawsuits by pension funds will follow?

That'll be fun to watch.

nevadan's picture

Does this explain the spike in TF at the close?

disabledvet's picture

Chairsatan..."meet hell."

John McCloy's picture

Only ZH good stuff.
More nonsense to keep the sheep tamed from selling until it all comes crashing down.

buzzsaw99's picture

More busted trades. What a joke.

Blythe's picture

Probably be a bear raid on DNDN tomorrow after Zytiga approval today.

 

Short interest up 22% from 3/30 to 4/15 on the stock.

GolfHatesMe's picture

Do they send the trades through Waddel and Reed?

Bartanist's picture

A U-tube video that if not a fake itself would show that the birth certificate is a forgery.

http://www.youtube.com/watch?v=QNJfdKClbH4&feature=player_embedded

There are multiple possibilities:
1. The vidoe is correct and Obama knows it is a forgery
2. The video is a correct and Obama does not know it is a forgery
3. The video is a fake. I have not tried myself, but why would you believe me?
4. It is an intentional distraction by Obama or someone else to keep people from being focused on the real and important issues

The question is: if the video is correct then why would they make it such an obvious fraud? To discredit Obama? Was Trump a plant?

If you wanted to tear apart the US and create as much polarization, then is this not something you would do? Who is the real enemy here?

Demogorgon's picture

The video is accurate. A co-worker downloaded the document directly from the WH website, opened it in Illustrator, and all those layers are still in the document.

Why? Your guess is as good as mine.

chubbar's picture

It's clear that Obama's "legality" is in play.

For me it was always a question of when this card was going to be played, not "if". No rational humans first official act, upon being sworn in as president, is to seal ALL personal records from the time of their birth.

Secondly, then spend over 2 million dollars in legal fees to keep a simple long form birth certificate from the public view (and allow an officer in the US Air Force to go to prison as a result of a challenge to the presidents citizenship) if there were no problems with it.

Thirdly, if one looks at the congressional record with regard to the different bills brought forth to manage this little inconvenience, in the early stages of his run for president, it is clear that many people on both sides of the aisle are/were aware of this issue and trying to "manage" it.

Therefore, this was/is a set up. This was always meant to be revealed at the appropriate time. Probably meant as a trigger for a greater event (collapse?). All in due time it will be clear, I certainly don't know the end game.

Bear's picture

Oh, by the way, if Thump runs as a third party candidate, we have Obama for eight years.

Hephasteus's picture

No. Obama can't get anything done. They are going to toss him in the trash.

Old our biggest problem is appearing to be concerned about human rights Joe Biden is going to take the shit storm reigns.

channel_zero's picture

That's a feature, not a bug.

Common_Cents22's picture

Yep, Ross Perot didn't like the Bush's, so he may have made a deal with Clinton.  Ross Perot 19% of the vote talkin turkey to hard workin American people gave us Clinton for 8 years.

Trump is an opportunist and could be a big spoiler.  Trump is creating leverage for himself and could make a big deal w/ either side.

 

 

SheHunter's picture

Does no one reveling in this BS understand that prior to anyone being OK'd to run for a high rank office in the USA that person's history is scoured by our intelligence operatives?  This is a non-issue.  If O'B was not a legal citizen this truth would have been exposed prior to his run for prez.  God damn it people.  Isn;t there anything else important with which to entertain your left and right hemispheres?

Jeffrey Lebowski's picture

Youre totally full of shit. the "Intel operatives" as you call them do nothing of the sort. Anyone or fool can run for president, if the "party" picks him up, there is NO ONE who can stop that machine from putting forth its candidate....You'd be wise to back up your claims with actual proof, otherwise get off of ZH

Abby Normal's picture

I just downloaded it and opened it in Photoshop.  The copy I downloaded did not have any layers, channels or paths, so I believe this video is false unless the White House just changed this document.

Demogorgon's picture

Photoshop won't reveal the layers in this type of document. You need to open it in Illustrator. It may have been created in PS, and whoever created it wasn't aware that layers that are invisible in PS are visible in Illustrator.

Common_Cents22's picture

Yep, they thought they created a flat file in PS as it appears to be.  Wrong.

unnamed enemy's picture

well i just did the same and there is only 1 layer - so theres no way to prove anything now.

channel_zero's picture

It's an electronic document, there's no way to prove anything anyway.

Why many of you jokers will hang onto this particular distraction remains a mystery.

channel_zero's picture

The video in question is junk.

OCR software exports in layers.  It's a feature.  As in text in one layer, graphics in another in a perfect case.

 

Photoshop layers aren't Illustrator layers.  Different engines.

Then the rocket scientist declares a very old bug in illustrator as proof that it's a forgery.

Bear's picture

Cannot find the 'pdf' anywhere ... I question the authenticity of this