“On January 14, 2008, in the early hours of trading, prices of the March 2008 eMini (ES) futures contract began oscillating rapidly. After about 4 seconds and 100 oscillations, the price swings widened to the equivalent of about 400 points on the Dow Jones Industrial Average. The oscillations then abruptly stopped and in less than 2 seconds, the price collapsed 5.3% from its peak: the equivalent of a 760 point drop in the Dow. After reaching bottom, the market was halted for 10 seconds. Prices returned to normal levels within the next few minutes. Between 5:30am and 8:00am that morning, the exchange canceled most of the trades.”
I’m pretty much interested in market finance the same way Dawkins is interested in God.
(via Nanex ~ 25-Mar-2013 ~ eMini Algo Disaster on 14-Jan-2008)
I have an idea. Let’s put computers in charge of this shit… what could go wrong?
via Tumblr http://thenelsontwins.tumblr.com/post/48017137726
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