Today's explosion: $4B emini covering

Tuesday, November 14, 2006 | 04:30 PM

I've checked the grapevine, and have it on fairly good authority:  Today's explosion was caused by a covering (or unwinding of) a 122k emini SPX contracts.

That's a notational value of $4B.

Spx_emini_1


Someone's stop loss got triggered big and ugly . . .

Tuesday, November 14, 2006 | 04:30 PM | Permalink | Comments (38) | TrackBack (0)
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Comments

is that what a major hedge fund blow-up looks like?

how much longer are we going to feel the ramifications of this?

Posted by: emd | Nov 14, 2006 4:41:31 PM

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