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Visualizing The Overnight Stock Index Futures "Fat Finger?" Rout

Tyler Durden's picture





 

As we noted overnight, at 22:08:32 ET, a large wave of sell orders hit many stock index futures contracts. Most notably, Nanex notes, over 6,000 March 2014 eMini contracts traded in 1 second. After closer inspection, it appears that trading began almost simultaneously in several contracts, with the March 2014 eMini (ES) starting just a few milliseconds before the others. It's unclear whether the trades in the other contracts were a reaction to the eMini or part of the same sell program... but the slowness of reversion in prices makes it clear that while the mainstream media would like to shrug it off as just another "fat finger," it was anything but.

 

Via Nanex,

Comparing ES, NQ, TF and YM at 22:08:32 on December 15, 2013.



Closeup of the collapse - and the clear indication it was not a single fat-finger trade...

(each pixel is 25 milliseconds)

 

and here each pixel is 1 millisecond...


Does that look like a "fat finger" to you?
 


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Mon, 12/16/2013 - 14:33 | Link to Comment idea_hamster
idea_hamster's picture

"Does that look like a fat finger to you?"

From the SEC enforcement division to market participants?  Yes.  Yes it does.

Mon, 12/16/2013 - 14:36 | Link to Comment overexposed
overexposed's picture

It's merely a blip in the SEC's regularly scheduled porn-watching marathon.

Mon, 12/16/2013 - 14:40 | Link to Comment kliguy38
kliguy38's picture

Get Bart Chilton on their trail.......he's a "bulldog".......hehehehehehhehehehehehe

Mon, 12/16/2013 - 14:48 | Link to Comment tenpanhandle
tenpanhandle's picture

It's a new phenom called fat hand trade.  Fat hand have 4 fat fingers.

Mon, 12/16/2013 - 17:46 | Link to Comment Keyser
Keyser's picture

Is that anything like the 5 finger death punch?

Mon, 12/16/2013 - 17:58 | Link to Comment Loucleve
Loucleve's picture

I was thinking more the "five finger palm exploding heart technique".

Kill Bill II.

Mon, 12/16/2013 - 14:38 | Link to Comment WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

My doctor is 6' 2" and has "fat fingers" ouch!  He could work for Goldman Sachs taking care of the Muppets.

Mon, 12/16/2013 - 20:27 | Link to Comment Lost My Shorts
Lost My Shorts's picture

Wait wait wait.  Wall Street is supposed to pump stocks and suppress gold.  Now you are trying to say they are suppressing stocks???  You got more explaining to do.  What about the wealth effect ??  Who is supposedly suppressing stocks and why?

Mon, 12/16/2013 - 14:39 | Link to Comment max2205
max2205's picture

1 pixel = 1 millisecond. ..wow..just wow....my charts updare 5 seconds...a trillion times slower..or something like that

Mon, 12/16/2013 - 14:42 | Link to Comment maskone909
maskone909's picture

the market's gangrenous infection known as central planning has just gone systemic.  those who have been in the market for a while know what im talking about, especially here at ZH.  deer in headlights moment is coming very, very, soon. 

Mon, 12/16/2013 - 14:51 | Link to Comment tenpanhandle
tenpanhandle's picture

The cure is now feeding on the cured.

Mon, 12/16/2013 - 14:48 | Link to Comment ebworthen
ebworthen's picture

"Nothing to see here, move along."

Mon, 12/16/2013 - 14:47 | Link to Comment HUGE_Gamma
HUGE_Gamma's picture

"it traded down to the 50dma in sunday overnight trading where there was heavy support and subsequently rallied from there on low volume." - fixed

Mon, 12/16/2013 - 14:58 | Link to Comment Racer
Racer's picture

Don't most of the US people now have 'fat fingers' as well as fat rest of their bodies?!

Mon, 12/16/2013 - 15:04 | Link to Comment RockRiver
RockRiver's picture

It looks like one big ass order no matter how it was enetered.

Mon, 12/16/2013 - 15:12 | Link to Comment Yen Cross
Yen Cross's picture

      As Cdad always says, "What a financial wasteland these markets have become." It was so obvious after the Tankan & Chinese MFG releases what was going on last night. By the time Euurope opened everything was back in the green for the squeeze. Bonds and F/X have just traded sideways.

Mon, 12/16/2013 - 15:18 | Link to Comment Godisanhftbot
Godisanhftbot's picture

 so what was it then....

 

 a bitcoin arb?

Mon, 12/16/2013 - 15:41 | Link to Comment undercover brother
undercover brother's picture

this pattern is obvious to me.  some knucklehead dropped his sushi lunch on his keyboard, inadvertantly hitting the "sell everything" button, then spent the rest of the afteroon trying to buy back his position.

Mon, 12/16/2013 - 15:48 | Link to Comment Godisanhftbot
Godisanhftbot's picture

 wrong, it was a Bratwurst lunch

Mon, 12/16/2013 - 16:05 | Link to Comment nightshiftsucks
nightshiftsucks's picture

I think not,he was watching porn and shot his wad.

Mon, 12/16/2013 - 16:55 | Link to Comment Exponere Mendaces
Exponere Mendaces's picture

Thanks to NANEX for doing the due diligence that the SEC is either too incompetent or too unwilling to actually do. It will be the record of how a market completely went off the rails, suitable for later entries in the great big book of financial failures and debacles.

Mon, 12/16/2013 - 23:39 | Link to Comment Hedge Fund of One
Hedge Fund of One's picture

But who took the other side and bought into and/or at the bottom of that big sell?

Tue, 12/17/2013 - 00:48 | Link to Comment TheReplacement
TheReplacement's picture

I have to confess.  It was me, both sides of the trade.  I made took my profits on one side and bought back in at lower prices on the other.  See you on the other side bitches!

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