Dec 20, 2012: Mini flash-crash / ES 1441.25 to 1391.25!
Was anyone here on the right side during the mini-flash crash a couple of hours ago? Did anyone get caught on the wrong side?
Was watching it just as it began to do the sell down. Obviously, was overdone ... even with illiquid overnight mkt. News driven to begin with, but the 30 or so + dive that rebounded wasn't what could be considered a "fair" market structure. just my thoughts. See where it ended up after the dive. The only thing that might legitimately have been a factor was that there may have been a lot of sell stop orders that kicked in when looking at the chart and where they'd be placed below prior swings over the last two weeks of trading for those long.
Here is a detail of it from Nanex, but doesn't name the culprit.