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By Jamie Coleman || May 6, 2010 at 19:44 GMT
|| 42 comments || Add comment
Major US bank had an order to sell $15 mln of S&P e-mini contracts. Accidentally sold $15 bln…
You any good at milking?
what’s a few decimal points amongst friends…..
If you can move stocks on 15 billion like that, something’s SERIOUSLY wrong!
Is Goldman the bank? For their sake, I hope not.
Fantastic Job Jamie .I usually would have gone out for a run by now. I only made it from the bed to my laptop today! That was loads of fun! Hope europe and asia keep the action up so sean and gerry can get some. Cheers
How can one make such a blunder that would have cost the world billions in losses
Dozed off in front of my laptop
, don’t wanna shut down but gotta sleep 
… bye all 
So does this mean selling will continue or will the market try to recover from the blunder?
LUUUUUuuuucy! Did you call IT and get that sticky zero key fixed on your keyboard?
Good point Michael Miller
Lucy – LOL, DC!
What a day…holy cow and for what…WOW…OOOOOOPPPPPPPPSSSSSSSSSSS!!!!!!! on the day when all else was happening…heads are gonna roll I betcha!!!!
rest up taj! More fun to come.
OMG..poor those who loss thru this madness..Can they put in a claim with Citi for their loss…I wonder…
A few weeks ago, I warned on the intraday spike for the Dow, to 11,000. That “more than likely” that was a single entity doing that. That’s what lower volume activity gets you. This isn’t over. Don’t get comfortable.
went all in…eur/usd long..expect cb intervention into germany vote on overnite and pot massive rally on eur across bd, also feel ecb will offer some sort of debt buy program across all europe…
selloff in euro is wayyy overdone now. a bound to mid 1.30’s???then we reaseess..other thoughts???
Where you been zz
Phil – have you ever been taken out by a 200 – 300 pip spike that appeared out of nowhere and did not appear on other platforms and then tried to claim it back ? Never gonna happen …
Thats nasty!! Is that bank or something – which does not know the difference between millions and billions. If I have an account with them I will definitely remove my account!!!!
Yes, we ought to spend a moment thinking about those who have suffered losses in this fiasco. OK, done? When’s the next wave of selling coming?
I’ll be taking my account to them, George
What I am wondering about is, how is going to be responsible for paying all the margin calls that hit people because of this oops trade? A lot of people were probably taken out of positions due to this.
[...] From ForexLive: [...]
annie been waiting and following…
well now ive heard it all …. oh joy …
Maybe by the (december 2110) holidays zz. Just a joke. I would be really careful on that one. Europe is on a soft euro policy right now. Hows things going?
doing great hart…friday to be very telling
Lets not forget NFP tomorrow….
Asian and European markets will be in dolldrums today and Man to top that its Friday – mostly risk aversion. Would this another Black Friday in Asian and European markets!!!
Well we certainly don’t have to worry about profit taking zz.
strange stuff. Think of what happen with E/CHF earlier today. Foreshadowing this collapse during NY, hmm sounds like a deliberate move by someone.
[...] to ForexLive, a big error at a major trading firm caused today’s market [...]
Everything happens for a reason.
vix closed over 40
How do you think the asian markets would react to this insanity we just had today
“Accidentally”, yea sure. They’ll do it again, after they had this outcome
Jamie,
Whats your take on Friday markets?
Maybe, however,,… it is easier for some people to blame a bad finger, or computer error, than to consider that maybe US equities are 30% over-valued and close to tipping point.
From top to bottom in all Yen pairs
GBY/JPY: 1260 PIPS
EUR/JPY: 1020
AUD/JPY: 850
USD/JPY: 580
CHF/JPY: 600
CAD/JPY: 900
TOTAL PIPS: 5210
Yes definitely the day to be long YEN
@FLUFFY: Agreed. You can’t go from around 6000 on the Dow to 11k plus on nothing but air, and expect it to last forever. Consumer spending is up, but consumer borrowing is up MORE. Where is the money coming from? The banks, who are borrowing it from the US government printing presses at 0%. And exactly how long can this last? Well, about a year, apparently. Tomorrow should be even more fun.
Will the exchange undo the trades?
I accidentally got involved in trading Forex and sold my peace of mind……………worth billions-