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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TFF who wrote (9601)11/23/2001 5:24:05 PM
From: Dan Duchardt  Read Replies (1) of 12617
 
TFF,

You would think that after a while the powers that be would recognize that all trades following an even like that are tainted. Picking a price level as a cutoff is ridiculous. Canceling an opening trade and retaining what was intended to be a closing trade as an open on the other side is worse than ridiculous.

An interesting point to consider is the impact the trade had on the market, and the potential gain of a well funded player to drive the market into a tailspin and reap a huge gain resulting from the carnage. I've been wondering for some time now about what goes on in the middle of the night in the index futures market, and the effect of a price move during those hours on the opening of the equities markets. Though I haven't looked at the exact numbers, a few thousand futures contracts moved in the off hours seems like an awfully small tail wagging the big dog that stirs around 9:30 each morning.

Dan
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