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You mean 6:30 pm EST?
Could be anything. And since the talking heads always have some excuse,
here's my take on the situation:
Any kind of shock can cause a slip of the fingers in order execution in
a illiquid market.
The Philthydelphia Beagles losing to Tampa Bay on a 62 yards field goal
try with time running out could have caused an emotionally exhausted
trader to messed up his / her orders.[Obviously, I'm a NY Giants fan :-) ]
Or it could have been a Pittsburgh fan fainting when the Atlanta Falcons
beat the Steelers in overtime, hitting the keyboards as he / she fell down.
Or it could been the shock of seeing the New York Times admitting they
screwed up badly by releasing the details of the SWIFT program,
hindering any investigation or monitoring of the financing of terrorist
activities.
Or it could been the news that the heads at the BBC admitted that they
have a leftist bias and actually have to re-edit a lot of their
reporting to tone down their anti-American rants.
Or Barack Obama announcing he's going to run for President in 2008. If
he runs, it is likely he'll win the Democratic Nomination as it would be
politically incorrect to vote against him (much less to bad mouth him)
in the primaries and we would not have to face the potential of another
Clinton presidency (and end the political dynasties of 2 families of
more than 20 years.).
Then there's always the capture of Osama bin Laden rumors. Always a
favorite when you want to cause a run up.
Could be anything. Could even be the end of Ramadan.
CSS wrote:
What rumor shortly before 12:30 p.m. New York time this afternoon (Sunday)
caused the S&P futures to explode to the upside then, slightly more slowly,
settle back to their original level?
Carroll
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