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Somewhat of a newbie here, but what the heck is going on with the S&P Emini?
Normally, overnight trading will be 1-10 contracts every few minutes. Last night, (2:02 am EST, Monday, January 14th,2008) over 50,000 emini contracts were traded in a single minute. The price went up 20 points, down 75 points and then back up 40 points.
As best as I can determine, these are not bad ticks.
Anyone have a clue what is going on here? This smells awfully fishy.
Also, during a big drop a few weeks ago after a fed announcement during the day session, I noticed that there was a huge drop in the number of contracts being traded - all the while the price was falling off a cliff.
What is really setting the E-mini price? I was under the impression that pricing was determined strickly by supply & demand. Is there a sub-market trading the emini's that I don't know about?
I would appreciate any input.
- Bill
Normally, overnight trading will be 1-10 contracts every few minutes. Last night, (2:02 am EST, Monday, January 14th,2008) over 50,000 emini contracts were traded in a single minute. The price went up 20 points, down 75 points and then back up 40 points.
As best as I can determine, these are not bad ticks.
Anyone have a clue what is going on here? This smells awfully fishy.
Also, during a big drop a few weeks ago after a fed announcement during the day session, I noticed that there was a huge drop in the number of contracts being traded - all the while the price was falling off a cliff.
What is really setting the E-mini price? I was under the impression that pricing was determined strickly by supply & demand. Is there a sub-market trading the emini's that I don't know about?
I would appreciate any input.
- Bill