4 seconds before the close, one super-bullish algorithm exuberantly bought a massive $200 million worth of the S&P 500 ETF up to a 2,130 level on the index in one second... and no - it was not a fat finger!! It was 1,147 trades! Now who do we know that is an 'expert' in ETF trading? [7]
With 4 seconds to go in today's "market" day-session, this happened:
[8]
Source: NanexLLC
$SPY [9] ex-div tomorrow - did it play a role? Will they bust those trades before options close. tick.tick.tick.
— Eric Scott Hunsader (@nanexllc) December 18, 2014 [10]
Each dot is a stock trade. Notice the $SPY [9] column of trades all the way up 3% pic.twitter.com/NbmJfTibJv [11]
— Eric Scott Hunsader (@nanexllc) December 18, 2014 [12]
$SPY [9] spike wasn't 1 trade. Or 10, or 100. It was 1,147 trades (610K shares): pic.twitter.com/WpNQsnVJyh [13]
— Eric Scott Hunsader (@nanexllc) December 18, 2014 [14]
There's only one man "expert" enough in the use of ETFs to handle a job like that. [7] From his profile (link [15]):
[16]
[17]
But have no fear... those trades will be DK'd asap.
- NASDAQ ISSUES E-MAILED STATEMENT ON 'SPY' TRADES
- POTENTIALLY ERRONEOUS `SPY' TRANSACTIONS BEING PROBED
- TRANSACTIONS WERE EXECUTED BETWEEN 15:59:00-16:00:00 ET
Or maybe not: ALL TRADES IN 'SPY' WILL STAND
[18]
Probably because the Fed is willing to "eat" the losses rather than explain why it buys SPY, via Citadel, on DirectEdge.
