Violent Dump Of 6,800 E-Minis Leads To Flash Sale

Tyler Durden's picture

Starting at 11:06, S&P futures began to slide, picked up at 11:09, then at ~11:11:11, someone decided to dump 6,800 e-mini contracts in one second all at once in a nice fiduciary-duty-worthy trade as Europe begins to close and POMO ends: the kind of idiotic dumping through the bid stack that is not only allowed, but encouraged in gold and silver. That is around $625 million notional in a second. Volume overall was huge in the last few minutes (as the chart below shows). VIX jerked 0.4 vols higs to 13.4%; JPY banged higher against the USD (but stocks still well below JPY expectations); and bonds quickly bid 1-2bps. This dump in the S&P drops it back to one-week lows.

This is dramatically hgher volume than normal for the European close...


As the waterfall selling progressed...


Ad as is clear, once the S&P 500 tagged UNCH for year-to-date, the selling began...


Paging Waddell & Reed...

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One And Only's picture

The Waddell and Reed terrorists are back.

Vampyroteuthis infernalis's picture

More like the HFT terrorists. They keep robbing everyone at gunpoint.

Zero_Sum's picture

Efficient markets, Bitchez! Let me get some more of that liquidity. It'll cure what ails ya!

Clint Liquor's picture

Strange morning for PM Miners. Currently, up on a down PM day and up in New York while down in Toronto.

insanelysane's picture

Someone needed some cash to cover their NFL bets from the weekend.

MarsInScorpio's picture

No mistake; the precise 11:11:11 was a signal.


New World Chaos's picture

The puppetmasters have an 11 fetish.  11 represents exceeding God.  It is also associated with destruction.  Will they kick the legs out?

Here's an interesting article on numerological relationships involving 9/11, the 3/11 Madrid bombing, and the 3/11 Fukushima tsunami:

Either it's all coincidence (unlikely), or numerology is real (yeah right), or the world is secretly run by evil people who either believe in numerology or at least use it to give untraceable commands to minions.  Masons are in power everywhere.  Agency managers need to know that investigating certain mass murders is not a path to career advancement or even good health.  Media leaders need to know when to Get With The Program.  In that sense, numerology really does work.  Numerologically auspicious false flags are more likely to get the full weight of the system to push the hidden agenda.

BKbroiler's picture

Well any headline that starts with "Violent Dump" has my attention.

BringOnTheAsteroid's picture

The lack of scientific and critical thinking among people here is astounding. You have hand picked several events that contain an 11 somewhere in the date. You don't mention whether the day is important or month or year for that matter. What you have demonstrated is a absolute classic example of confirmation bias. The human mind sure can operate at both end of the intelligence spectrum. It's a signal, it's a signal alright that people need to spend a bit less time Dancing with the stars and a bit more time educating themselves on the vaguaries of the human mind.

X_mloclaM's picture

This could be better stated: "Numerologically auspicious false flags are more likely to get the full weight of the system to push the agenda"

And is meant only to improve, as is quite a post

Uber Vandal's picture

11th hour of the 11th day of the 11th Month of 1918, and hosilities cease to end the Great War, The War to End All War, (WWI) which began in 1914.

In short, this is not a good sign.


TeamDepends's picture

Sell Mortimer, SELL!!!

USA USA's picture

Fat Finger.......They thought they were selling GOLD!

The man with pointy horns's picture

Sloppy finger more like, it's like a video game where you press the wrong controll and then your sprite dies.

rubearish10's picture

Let it be habit forming just like money printing, Pot, drinking and buying Puts and bullets!.

FuzzyDunlop21's picture

Yes definite mix up, this shall be reversed expect SPX + 30 tomorrow, GLD -40

Keyser's picture

That was earlier today. They had to make up for missing MLK day yesterday...

eclectic syncretist's picture

I'm wishing I would have bought twice as much GSS at 0.41.  It's up over 12% to 0.60 today.

The man with pointy horns's picture

The loss of 1 S&P 500 point is about the same as several thousand American lives.

Bleedin terrists!

fooshorter's picture

Their starting to get desperate.

Skateboarder's picture

Not quite. I forget which flash sale (sometime in '12?), but I remember when ZH showed a cool 2B changing hands it. And shit pops back like nothing happened, of course.

GrinandBearit's picture

"They're" starting to get desperate.

"Their" bank accounts have been stolen. 

I want to kick Bernanke down "there".

Nothing against you personally Foo, just a pet peve of mine.

TeamDepends's picture

Ours is "could of been".  Really shanks our shiv.

Iam_Silverman's picture

"Nothing against you personally Foo, just a pet peve of mine."




Nyuk, nyuk, nyuk!

JoBob's picture

Fooshorter: "Their starting to get desperate."


There. Fixed it for you.

thatthingcanfly's picture

Yeah, but the miners are green!

BandGap's picture

Own a bit of EXK, was shocked that it is up over 3%.

WTF is up with that?

thatthingcanfly's picture

I also own some EXK. Been on a tear since the first of the year. (I'm still not up to zero yet though.)

Eastwood's picture

11:11:11am - "I want you to know that all those pikers at the NASD are finally off our ass!" - WR MD.

11:12:00am- "$%^@! Joe Bob, stop leaning on the $%@%&^* sell button!" - WR MD.


Calculus99's picture

Just gamblers gamblin.

Spungo's picture

I wonder if this has anything to do with those banks calling for a market top and demanding an immediate crash.

Dr. Engali's picture

Time to introduce a little fear into the "market", and scare people into treasuries.

Flakmeister's picture

Seems the market picked up a touch of giardiasis...

Nothing like that little critter to bring on violent dumps...

oddjob's picture

all signs point to Wing night.

TheRideNeverEnds's picture

why aren't you buying the dip?

Seasmoke's picture

They are letting us know. UST > S&P

Cornholiovanderbilt's picture

It'll be green in minutes.  Someone just got a hot ash in their lap.  Chill!

Dr. Engali's picture

This is a test...this is only a test. had this been an actual emergency, there are no exits. You all are fucked!

Bearwagon's picture

Right, doctor, all too right. No one will get outta here alive.
Inside looking out:

Keyser's picture

And always remember children, it's best to run away from a nuclear detonation!!!


DannoH's picture

When you see the flash...DUCK! And cover. I miss the 50's, which is ironic because I was born in the 70's.

GrinandBearit's picture

It always goes down MUCH faster than it goes up.

Bulltards take note.

Hindenburg...Oh Man's picture

Actually the market should be severely down, but thanks to the usual overnight, low volume ramp up, it merely takes futures down to around 0.0. Let the low volume, slow ramp recovery now begin. 

Hindenburg...Oh Man's picture

A dramatic dump, but as of 12:42 the NASDAQ has slowly ramped itself back up to where we started at the beginning of this mini drama. typical. 

jtz5's picture

I guess it makes sense...ramp the market to obscene levels, give people phantom $, then crash the market and have those people buy treasuries to get the Fed off the hook.  Brilliant...