Berserk, Broken Rampathon Algo "Buys" The S&P At 2,130

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?

With 4 seconds to go in today's "market" day-session, this happened:

Source: NanexLLC

 

There's only one man "expert" enough in the use of ETFs to handle a job like that. From his profile (link):

 

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


Probably because the Fed is willing to "eat" the losses rather than explain why it buys SPY, via Citadel, on DirectEdge.