We noted previously the comedic melt-up in stocks in the last few minutes of the day [2] but away from the simple-to-see shenanigans in VIX and the major equity indices, Nanex [3] shows a massive number of stocks experienced a stunning coordinated WTF moment at 1550ET... unrigged?
Not enough riggedness in the major indices...?
[4]
Take a look under the covers... (via Nanex) [3]
On Friday, June 27, 2014 at 15:50:00 - 143 stocks suddenly moved at least 2% (with some exceeding 10%) in just a few seconds. There were 678 stocks that moved 1/2 of a percent or more. This explosion of trading activity dwarfed even the closing seconds of the day, when the annual Russell Reconstitution process occurred (changing of symbols in the Russell Indexes). In the one second at 15:50:00, approximately 400 stocks had NBBOs (National Best Bid/Offer) that were crossed (best bid price greater than best ask price) and more than 1000 stocks had NBBOs that were locked (best bid price equals best ask price).
1. Each line represents one of 678 stocks that moved 0.5% or more.
The noticeable green line is the price track of the stock of MannKind Corp (symbol MNKD) which had a significant (unrelated) news event.
2. Same chart as above, but color coded by reporting exchange.
Note the many green lines after 16:00 when the market closes. These are dark pool trades which were reported late.
3. Each line represents one of the 143 Stocks that moved 2% or more in a few seconds at 15:50:00. Value scale shows percent change from 15:50:00.
4. Zooming in closer (27 seconds) we can see there were several waves of explosive activity.
5. Chart shows about 5 seconds of time.
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Did someone make a dark pool angry?
