By Hedge Ly
Here we are again, "the daily flash crash", this time the most heavily traded and supposedly most liquid security in the world shit its pants 9.55% after hours moving from 118.50ish to 106.46 in just about 15 seconds. Nearly 7 million shares changed hands in that period of time. To me it looks like a cash/futures arbitraging algo jumped the gun pre Apple earnings causing every other algo monitoring the market to think the entire fucking world was ending. DONT WORRY EVERYONE THEY ARE CANCELLING 500 MILLION in trades... what a pile a piss.
The markets should not be acting like this, there needs to be something done. If this would have happened during regular hours all hell would have broken loose, this is the saving grace. Think about it, we have the LQD crash, AAPL 11 point crash these are highly liquid and correlated names, when the house of cards starts to tip the whole house will crash so fast we might not have a chance to hit the sell button. I know i will because i got the Armageddon hot key programmed.
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