ES Volume Surges At Close As $3.3 Billion Sale Hits The Tape

Tyler Durden's picture

It appears someone rather big just couldn't wait until the debt ceiling resolution was found, and instead decided that defection is the better part of a ponzified game theory. As such, just after the last second of trading, they dumped about $3 billion worth in ES. In the last tick, or just after, over 65k contracts of ES were sold at $50k per. Obama better find a resolution tomorrow or this dumpathon will be a humble appetizer of what is coming up.

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Re-Discovery's picture

Extreme Bull flash, i.e. if Bove says it, it must be wrong.

101 years and counting's picture

FDIC insured cash?  ROFL!  if there's a bank run, good luck getting your money from the insolvent FDIC....who wont be able to borrow from the Treasury since they cant sell any more debt.  The only safe haven I know of, and chosen, is CASH held outside of a bank.  imo, get your money before this hits the mainstream.

TruthInSunshine's picture

TD said: Obama better find a resolution tomorrow or this dumpathon will be a humble appetizer of what is coming up.


AKA the Hank Paulson/Ben Bernanke 'oooh boooga boooga, boo! boo! There will be tanks in the streets! There will be Martial Law, bitchez!' if Wall Street isn't given a big, wet sloppy fiat job, transferring Main Street USD to Wall Street, charade.


Booga! Boooga! Boo! Stocks gonna' plunge and your retirement plans destroyed, yo. Give us what we want and we'll toss you a bone.

DeadFred's picture

It's all part of the plan and it wasn't some renegade investor who dumped at that most opportune time. Lots here will agree with that assessment but unlike most I don't think it's part of a plan to get a good deal on the debt ceiling plan. There isn't going to be a plan, at least not before the default. The banks control the government, not the other way around. The banks will make a killing on the crisis that comes out of the default and they will get their precious QE afterward. The squid has homed in on our 401Ks as the best food around it and won't be detered.

If you have it available take out two months of cash and put it in a safety deposit box. Stores will take fiat for food if/when the credit system freezes. You aren't getting any interest on it anyway so what do you lose, five bucks a month? Great swan insurance.

yabyum's picture

101years, If you could not get your cash from a fubar bank it would be the last straw. J6p would be ripping lungs out by sundown.

pods's picture

A truly scary scenario is if digital fiat decouples from physical FRNs.   That would implode society in a cocaine heartbeat.  Bennie says he can drop FRNs from a helicopter, but he knows he can't.  He can only move the decimal place on the spreadsheet.  

If there ever was a run on physical cash, it would be hyperinflation overnight, as the printing would have to be in large bills to satisfy demand for cash.  That would destroy confidence when the first 10k notes hit the street.


Manthong's picture

"He rejects gold because it "is too illiquid and there is not enough of it,""

Yeah, you can't get enough of it -- at today's prices, but you CAN get enough of it at $5K or more an ounce. 

SheepDog-One's picture

So billionaires are panic selling now? That doesnt sound good.

slaughterer's picture

Noticed that ES dump as well.  Looks like some algos are picking up the pieces though. 

hedgeless_horseman's picture

...they dumped about $3 billion worth in ES.

Just remember, one algo's sale is another algo's purchase.  Said another way, there are always two sides to every trade.

andybev01's picture

Honestly, I read this as "defecation is the better part of a ponzified game theory."

I suppose it doesn't make a difference either way.

OuaisBla's picture

It's called Distribution phase.

the not so mighty maximiza's picture

Somebody needs us to take on more debt somewhere.   Warning shot salvo.

Dr. Engali's picture

Let the selling begin. Last one out turn out the lights.

espirit's picture

Last algo holding will be the one with the empty bag. get the picture?

Pure Evil's picture

How bout?

Last one holding the bag turns out the lights.


GeneMarchbanks's picture

The bigger question is what that sad sap will be buying next? Something with some heft...

midtowng's picture

This year's SPX chart is looking suspiciously like a great, big head-and-shoulders top.

max2205's picture

Dark Pool swapping

Re-Discovery's picture

"Obama better find a resolution tomorrow"

I simultaneously laughed and threw up when I read this.  Net result - not good.

mynhair's picture

W&R is restricted to after hours trading now?

FunkyMonkeyBoy's picture

Sorry, that was me, will buy that back by end of close friday when the ES hits 1200.

Cassandra Syndrome's picture

No worries. I suspected Robotrader shorted at the close.

PulauHantu29's picture

What is an "ES?" I am sorry to be so stupid, and complain alot...but please tell me what ES is?

JohnG's picture

No such thing as a stupid question.

/ES is Bloomberg ticker for e-mini s&p futures.

Havana White's picture

"No such thing as a stupid question."

<  Will you marry me?  >

JohnG's picture

OK, ok, you got me on that one.

When one is seeking knowledge it's still true that there are no stupid questions.

mess nonster's picture

Zerohedge is an autodidact's paradise.

DeadFred's picture

There may not be any stupid questions but this is fight club so you may get your head ripped off anyway. Don't worry, virtual ripping off of heads doesn't hurt much. Try for a good place to see a host of futures markets.

mynhair's picture

Oweblahma can't find his ass with both hands.  Why else are his staff expenses so high?

pods's picture

He can find Mrs. O's in the dark though!


razorthin's picture

IWM on verge of crossing below the McGinley Dynamic for the first time on the monthly chart since crossing above it in April 09. It actually already has but I'm waiting for separation to confirm.  The last time it crossed below it - July 07.

mynhair's picture

Sounds bullish for TZA, whoever McGinley is.

Scoted's picture

That is a hell of a lot.

Where did you get the figure $50k per contract????

JohnG's picture

The notional value of one contract is US$50 times the value of the S&P 500 stock index.

Hedgetard55's picture

RIMM got, well, rammed for 6%. Jim? Jimmy C?

SwingForce's picture

Oh, but no! Top tick in GOLD? A ha ha ha ha ha ha 

mynhair's picture

When is the next Oweblahma lecture scheduled?

mess nonster's picture

Someone out there waaaay leveraged. Fear and panic can call the top in this game of chicken. It would be very ironic if Washington reached a solution on the debt ceiling, only to discover that the apocaypse happened anyway. (Tough on their egos, methinks...)

Franken_Stein's picture


This dump is brought to you courtesy of the Plunge Invocation Team (PIT).


Re-Discovery's picture

I can't wait until the headline crosses the tape that there is a "Resolution" to the debt ceiling crisis.  The false flags that can be traded on that headline will let me convert skads of worthless paper into physical and finish building my sheeple-proof perpetual palace.

Critical Path's picture

Heres to hoping a dumpathon allows me to scoop up some more metal at a discount.