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 | 4351700 One And Only
One And Only's picture

The Waddell and Reed terrorists are back.

Tue, 01/21/2014 - 12:28 | 4351734 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

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

Tue, 01/21/2014 - 12:34 | 4351745 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 | 4351755 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 | 4351800 insanelysane
insanelysane's picture

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

Tue, 01/21/2014 - 13:31 | 4351919 MarsInScorpio
MarsInScorpio's picture

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


Tue, 01/21/2014 - 13:55 | 4351926 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:

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 | 4352159 BKbroiler
BKbroiler's picture

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

Tue, 01/21/2014 - 18:08 | 4353277 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 | 4354045 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 | 4351951 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 | 4351702 TeamDepends
TeamDepends's picture

Sell Mortimer, SELL!!!

Tue, 01/21/2014 - 12:40 | 4351763 eclectic syncretist
eclectic syncretist's picture

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

Tue, 01/21/2014 - 13:08 | 4351857 StacksOnStacks
Tue, 01/21/2014 - 12:20 | 4351704 USA USA
USA USA's picture

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

Tue, 01/21/2014 - 12:22 | 4351711 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 | 4351715 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 | 4351791 FuzzyDunlop21
FuzzyDunlop21's picture

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

Tue, 01/21/2014 - 13:01 | 4351823 Keyser
Keyser's picture

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

Tue, 01/21/2014 - 13:06 | 4351844 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 | 4351708 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 | 4351718 fooshorter
fooshorter's picture

Their starting to get desperate.

Tue, 01/21/2014 - 12:28 | 4351733 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 | 4351748 TeamDepends
TeamDepends's picture

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

Tue, 01/21/2014 - 12:43 | 4351773 Bearwagon
Bearwagon's picture

Thar she blows!

Tue, 01/21/2014 - 13:01 | 4351827 Keyser
Tue, 01/21/2014 - 12:48 | 4351786 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 | 4352291 TeamDepends
TeamDepends's picture

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

Tue, 01/21/2014 - 14:45 | 4352306 Iam_Silverman
Iam_Silverman's picture

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




Nyuk, nyuk, nyuk!

Tue, 01/21/2014 - 16:13 | 4352770 JoBob
JoBob's picture

Fooshorter: "Their starting to get desperate."


There. Fixed it for you.

Tue, 01/21/2014 - 12:24 | 4351722 thatthingcanfly
thatthingcanfly's picture

Yeah, but the miners are green!

Tue, 01/21/2014 - 12:41 | 4351764 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 | 4351797 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 | 4351727 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 | 4351728 Calculus99
Calculus99's picture

Just gamblers gamblin.

Tue, 01/21/2014 - 12:28 | 4351735 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 | 4351737 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 | 4351739 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 | 4351838 oddjob
oddjob's picture

all signs point to Wing night.

Tue, 01/21/2014 - 12:30 | 4351740 TheRideNeverEnds
TheRideNeverEnds's picture

why aren't you buying the dip?

Tue, 01/21/2014 - 12:32 | 4351747 Seasmoke
Seasmoke's picture

They are letting us know. UST > S&P

Tue, 01/21/2014 - 12:34 | 4351751 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 | 4351757 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 | 4351766 Bearwagon
Bearwagon's picture

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

Tue, 01/21/2014 - 13:06 | 4351850 Keyser
Keyser's picture

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


Tue, 01/21/2014 - 14:09 | 4352114 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 | 4351767 GrinandBearit
GrinandBearit's picture

It always goes down MUCH faster than it goes up.

Bulltards take note.

Tue, 01/21/2014 - 12:42 | 4351769 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 | 4351979 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 | 4351781 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...

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