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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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Tue, 01/21/2014 - 12:19 | Link to Comment One And Only
One And Only's picture

The Waddell and Reed terrorists are back.

Tue, 01/21/2014 - 12:28 | Link to Comment Vampyroteuthis ...
Vampyroteuthis infernalis's picture

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

Tue, 01/21/2014 - 12:34 | Link to Comment Zero_Sum
Zero_Sum's picture

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

Tue, 01/21/2014 - 12:36 | Link to Comment Clint Liquor
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.

Tue, 01/21/2014 - 12:51 | Link to Comment insanelysane
insanelysane's picture

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

Tue, 01/21/2014 - 13:31 | Link to Comment MarsInScorpio
MarsInScorpio's picture

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

-30-

Tue, 01/21/2014 - 13:55 | Link to Comment New World Chaos
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:  http://www.veteranstoday.com/2014/01/01/11-examples/

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.

Tue, 01/21/2014 - 14:17 | Link to Comment BKbroiler
BKbroiler's picture

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

Tue, 01/21/2014 - 18:08 | Link to Comment BringOnTheAsteroid
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.

Tue, 01/21/2014 - 21:49 | Link to Comment X_mloclaM
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

Tue, 01/21/2014 - 13:38 | Link to Comment Uber Vandal
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.

 

Tue, 01/21/2014 - 12:31 | Link to Comment TeamDepends
TeamDepends's picture

Sell Mortimer, SELL!!!

Tue, 01/21/2014 - 12:40 | Link to Comment eclectic syncretist
eclectic syncretist's picture

This extra liquidity is actually benefical to markets as blah blah blah........

Tue, 01/21/2014 - 13:08 | Link to Comment StacksOnStacks
Tue, 01/21/2014 - 12:20 | Link to Comment USA USA
USA USA's picture

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

Tue, 01/21/2014 - 12:22 | Link to Comment The man with po...
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.

Tue, 01/21/2014 - 12:22 | Link to Comment rubearish10
rubearish10's picture

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

Tue, 01/21/2014 - 12:48 | Link to Comment FuzzyDunlop21
FuzzyDunlop21's picture

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

Tue, 01/21/2014 - 13:01 | Link to Comment Keyser
Keyser's picture

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

Tue, 01/21/2014 - 13:06 | Link to Comment eclectic syncretist
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.

Tue, 01/21/2014 - 12:22 | Link to Comment The man with po...
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!

Tue, 01/21/2014 - 12:23 | Link to Comment fooshorter
fooshorter's picture

Their starting to get desperate.

Tue, 01/21/2014 - 12:28 | Link to Comment Skateboarder
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.

Tue, 01/21/2014 - 12:33 | Link to Comment TeamDepends
TeamDepends's picture

Until it doesn't.  (raises binoculars to eyes, scans horizon for Black Swan)

Tue, 01/21/2014 - 12:43 | Link to Comment Bearwagon
Bearwagon's picture

Thar she blows!

Tue, 01/21/2014 - 13:01 | Link to Comment Keyser
Tue, 01/21/2014 - 12:48 | Link to Comment GrinandBearit
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.

Tue, 01/21/2014 - 14:41 | Link to Comment TeamDepends
TeamDepends's picture

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

Tue, 01/21/2014 - 14:45 | Link to Comment Iam_Silverman
Iam_Silverman's picture

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

 

*peeve*

 

Nyuk, nyuk, nyuk!

Tue, 01/21/2014 - 16:13 | Link to Comment JoBob
JoBob's picture

Fooshorter: "Their starting to get desperate."

"They're"

There. Fixed it for you.

Tue, 01/21/2014 - 12:24 | Link to Comment thatthingcanfly
thatthingcanfly's picture

Yeah, but the miners are green!

Tue, 01/21/2014 - 12:41 | Link to Comment BandGap
BandGap's picture

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

WTF is up with that?

Tue, 01/21/2014 - 12:50 | Link to Comment thatthingcanfly
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.)

Tue, 01/21/2014 - 12:26 | Link to Comment Eastwood
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.

 

Tue, 01/21/2014 - 12:27 | Link to Comment Calculus99
Calculus99's picture

Just gamblers gamblin.

Tue, 01/21/2014 - 12:28 | Link to Comment Spungo
Spungo's picture

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

Tue, 01/21/2014 - 12:30 | Link to Comment Dr. Engali
Dr. Engali's picture

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

Tue, 01/21/2014 - 12:30 | Link to Comment Flakmeister
Flakmeister's picture

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

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

Tue, 01/21/2014 - 13:03 | Link to Comment oddjob
oddjob's picture

all signs point to Wing night.

Tue, 01/21/2014 - 12:30 | Link to Comment TheRideNeverEnds
TheRideNeverEnds's picture

why aren't you buying the dip?

Tue, 01/21/2014 - 12:32 | Link to Comment Seasmoke
Seasmoke's picture

They are letting us know. UST > S&P

Tue, 01/21/2014 - 12:34 | Link to Comment Cornholiovanderbilt
Cornholiovanderbilt's picture

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

Tue, 01/21/2014 - 12:37 | Link to Comment Dr. Engali
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!

Tue, 01/21/2014 - 12:42 | Link to Comment Bearwagon
Bearwagon's picture

Right, doctor, all too right. No one will get outta here alive.
Inside looking out: http://www.youtube.com/watch?v=gZM25ZG6ZZU

Tue, 01/21/2014 - 13:06 | Link to Comment Keyser
Keyser's picture

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

 

Tue, 01/21/2014 - 14:09 | Link to Comment DannoH
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.

Tue, 01/21/2014 - 12:42 | Link to Comment GrinandBearit
GrinandBearit's picture

It always goes down MUCH faster than it goes up.

Bulltards take note.

Tue, 01/21/2014 - 12:42 | Link to Comment Hindenburg...Oh Man
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. 

Tue, 01/21/2014 - 13:43 | Link to Comment Hindenburg...Oh Man
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. 

Tue, 01/21/2014 - 12:46 | Link to Comment jtz5
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...

Tue, 01/21/2014 - 12:49 | Link to Comment Rising Sun
Rising Sun's picture

Bagholders meeting after the close.

Tue, 01/21/2014 - 12:50 | Link to Comment youngman
youngman's picture

If I was an investor...and I needed to sell something...I do not think I would do it this way....

Tue, 01/21/2014 - 12:50 | Link to Comment Spungo
Spungo's picture

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

Miners were up about 3% in Toronto yesterday. New York is catching up.

Tue, 01/21/2014 - 13:03 | Link to Comment El Hosel
El Hosel's picture

..... Miners are breaking out, nobody noticed?

http://finviz.com/quote.ashx?t=gdx&ty=c&ta=1&p=d

Tue, 01/21/2014 - 13:03 | Link to Comment the grateful un...
the grateful unemployed's picture

the miners are the leading indicator, they crashed in 96, while stocks went to a blowoff high in 2000, (but the miners held their value, during that crash, and that's all you should hope for here) then in late 2002 they broke out of the range, and lead the market higher. now the PMs have crashed again, 96 redux. will it take four years for the stock market to catch up on the downside? probably not this time, and are the miners going to make you rich, (yes relative to what stocks are going to do to your portfolio i think so) i dont believe there has been a bull market (other then cyclical) in gold in the last hundred years. and i think one is possible now. confidence in fiat doesn't occur suddenly like weimar germany, it takes years, and competing cyber currencies, all of which can erode confidence in fiat even further as they come and go. and there is the matter of mass delusion (iphone tulip mania) but you cant build an economy on tulips and the iphone doesnt fix poverty or hunger or make us more secure, or give us autonomy. so its just the first pitch of the first inning. 

Tue, 01/21/2014 - 12:51 | Link to Comment the grateful un...
the grateful unemployed's picture

mcluhan said 'the stock market was created by the telegraph and the telephone, and its panics are engineered by carefully orchestrated stories in the press.." a carefully orchestrated story is what they sometimes call Fedspeak. as to alarming people, that's done by rumors, not by coverage. if we stop fixating on the stock market it will crash. Now that Maria Bartiromo has left CNBC, the carefully orchestrated story has been written, its all over but the shouting.

Tue, 01/21/2014 - 13:02 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Unpossible!

Tue, 01/21/2014 - 13:03 | Link to Comment Sufiy
Sufiy's picture

Welcome to the Gold World:

 


Dr Paul Craig Roberts: Hows And Whys Of Gold Price Manipulation 


  The story about Gold manipulation goes viral now and Gold is at the very important breaking out point now. The markets can not be manipulated forever, particularly when physical supply is going to China these days. http://sufiy.blogspot.co.uk/2014/01/dr-paul-craig-roberts-hows-and-whys-...

Tue, 01/21/2014 - 13:04 | Link to Comment Sufiy
Sufiy's picture


Dr. Paul Craig Roberts - U.S. Gold Gone


Dr Paul Craig Roberts continues to share his great inside into the real state of the U.S. economy and ongoing game of the Musical Chairs with mounting evidence that there is No Gold left in the Gold Fractional Reserve System any more.   Today's action in the market is very interesting: Gold was Smashed-down from the all-important levels $1250 - $1270 after which Shorts will be burned, but Gold Stocks are not biting into this new attack and are holding well to the upside so far. It is the very important sign of the strength of the Gold market break out to the upside. http://sufiy.blogspot.co.uk/2014/01/dr-paul-craig-roberts-us-gold-gone-g...

Tue, 01/21/2014 - 13:16 | Link to Comment Warrior85
Warrior85's picture

This volatility is almost worse than trading bitcoin with Plus500

Tue, 01/21/2014 - 13:17 | Link to Comment Spungo
Spungo's picture

October 2008: Canadian gold mining index bottoms out.
March 2009: TSX composite index bottoms out. (5 months lag)
December 2013: Canadian gold mining index bottoms out.
_________: TSX composite index bottoms out?

5 months lag would be around May. A lot of different signs are pointing to this time being a potential problem. Margin debt is at an all time high, stock market is highly overvalued, Obamacare is taking effect, disappointing holiday numbers are coming in, Q1 will probably be a disaster as well, smart money jumped out of the market last summer, short term bonds actually have negative yield because people don't trust the banks and they don't want to buy long term bonds because the interest rates are expected to rise. I wish everyone luck with this market, but I wouldn't touch this until it has at least a 50% correction.

Tue, 01/21/2014 - 13:35 | Link to Comment Thalamus
Thalamus's picture

Its about time they started killing the stock market.  I would take this as prescient of things to come. 

Tue, 01/21/2014 - 13:38 | Link to Comment Spungo
Spungo's picture

The stock market crashes when a woman drives it.

Tue, 01/21/2014 - 13:56 | Link to Comment Oldwood
Oldwood's picture

Hillary?

Tue, 01/21/2014 - 13:44 | Link to Comment The_Ungrateful_Yid
The_Ungrateful_Yid's picture

S&P making a comeback?

Tue, 01/21/2014 - 14:08 | Link to Comment Hindenburg...Oh Man
Hindenburg...Oh Man's picture

of course! Have't you seen this episode before? It's a re-run: "so up we melt..." 

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