Right edge thoughts: $130 Million in trades busted on a series of PUMP trades on Russell 2000... Hmmm..Why would someone buy all the offers in a market with no offers and more to the point, who can afford to lose $130 Million.... except....

Earlier we reported on a completely inexplicable 10% surge in the IWR ETF resulting from a whole lot of busted trades. We didn't know precisely how many trades were involved until the kind folks at Nanex sent us this cheat sheet. The answer: 1,379,128 shares of IWR! Which, at the prices crossed, amounts to just over $130 million. We wonder: which algo could afford to lose $130 million on what in retrospect was a busted fat finger, and just what is the purpose of lifting every single offer into an offerless market beyond the point of ridiculousness? Luckily, the trades, which crossed just after close, did not happen 5 minutes earlier, or the market would have seen a fully blown inverse flash crash, carrying across all asset classes. On the other hand, we know of one person who is very focused on the Russell 2000 as an indication of the overall strength of the economy. Is the Fed now, in perpetuating its 3rd mandate, solely focused on buying IWR (and/or other) ETFs?

From Nanex:

And below are the actual 1,379,128 busted shares:

Cancelled Trades:

tc|NxTime|Symbol|Listed Exg|CorrectionType|OrgSeq|OrgCond|OrgPrice|OrgSize|
16:53:10|eIWM|PACF|Cancel;Busted;|225190|98|94.35000|292|
16:53:10|eIWM|PACF|Cancel;Busted;|225191|98|94.35000|500000|
16:53:10|eIWM|PACF|Cancel;Busted;|225192|98|94.35000|499708|
16:53:10|eIWM|PACF|Cancel;Busted;|225193|98|94.35000|230|
16:53:10|eIWM|PACF|Cancel;Busted;|225194|98|94.35000|560|
16:53:10|eIWM|PACF|Cancel;Busted;|225195|98|94.35000|928|
16:53:10|eIWM|PACF|Cancel;Busted;|225196|98|94.35000|581|
16:53:10|eIWM|PACF|Cancel;Busted;|225197|98|94.35000|178|
16:53:10|eIWM|PACF|Cancel;Busted;|225198|98|94.35000|1200|
16:53:10|eIWM|PACF|Cancel;Busted;|225199|98|94.35000|2360|
16:53:10|eIWM|PACF|Cancel;Busted;|225200|98|94.35000|7638|
16:53:10|eIWM|PACF|Cancel;Busted;|225201|98|94.35000|2800|
16:53:10|eIWM|PACF|Cancel;Busted;|225202|98|94.35000|1000|
16:53:10|eIWM|PACF|Cancel;Busted;|225203|98|94.35000|4562|
16:53:10|eIWM|PACF|Cancel;Busted;|225204|98|94.35000|2800|
16:53:10|eIWM|PACF|Cancel;Busted;|225205|98|94.35000|2638|
16:53:10|eIWM|PACF|Cancel;Busted;|225206|98|94.35000|2800|
16:53:10|eIWM|PACF|Cancel;Busted;|225207|98|94.35000|181|
16:53:10|eIWM|PACF|Cancel;Busted;|225208|98|94.35000|204|
16:53:10|eIWM|PACF|Cancel;Busted;|225209|98|94.35000|609|
16:53:10|eIWM|PACF|Cancel;Busted;|225210|98|94.35000|591|
16:53:10|eIWM|PACF|Cancel;Busted;|225211|98|94.35000|9409|
16:53:10|eIWM|PACF|Cancel;Busted;|225212|98|94.35000|291|
16:53:10|eIWM|PACF|Cancel;Busted;|225213|98|94.35000|2509|
16:53:10|eIWM|PACF|Cancel;Busted;|225214|98|94.35000|1000|
16:53:10|eIWM|PACF|Cancel;Busted;|225215|98|94.35000|6191|
16:53:10|eIWM|PACF|Cancel;Busted;|225216|98|94.35000|3809|
16:53:10|eIWM|PACF|Cancel;Busted;|225217|98|94.35000|2800|
16:53:10|eIWM|PACF|Cancel;Busted;|225218|98|94.35000|1000|
16:53:10|eIWM|PACF|Cancel;Busted;|225219|98|94.35000|1991|
16:53:10|eIWM|PACF|Cancel;Busted;|225220|98|94.35000|8009|
16:53:10|eIWM|PACF|Cancel;Busted;|225221|98|94.35000|1591|
16:53:10|eIWM|PACF|Cancel;Busted;|225222|98|94.35000|1209|
16:53:10|eIWM|PACF|Cancel;Busted;|225223|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225224|98|94.35000|7391|
16:53:11|eIWM|PACF|Cancel;Busted;|225225|98|94.35000|2609|
16:53:11|eIWM|PACF|Cancel;Busted;|225226|98|94.35000|2800|
16:53:11|eIWM|PACF|Cancel;Busted;|225227|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225228|98|94.35000|113|
16:53:11|eIWM|PACF|Cancel;Busted;|225229|98|94.35000|277|
16:53:11|eIWM|PACF|Cancel;Busted;|225230|98|94.35000|9610|
16:53:11|eIWM|PACF|Cancel;Busted;|225231|98|94.35000|2800|
16:53:11|eIWM|PACF|Cancel;Busted;|225232|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225233|98|94.35000|2129|
16:53:11|eIWM|PACF|Cancel;Busted;|225234|98|94.35000|7871|
16:53:11|eIWM|PACF|Cancel;Busted;|225235|98|94.35000|2800|
16:53:11|eIWM|PACF|Cancel;Busted;|225236|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225237|98|94.35000|4232|
16:53:11|eIWM|PACF|Cancel;Busted;|225238|98|94.35000|200|
16:53:11|eIWM|PACF|Cancel;Busted;|225239|98|94.35000|5568|
16:53:11|eIWM|PACF|Cancel;Busted;|225240|98|94.35000|2800|
16:53:11|eIWM|PACF|Cancel;Busted;|225241|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225242|98|94.35000|2832|
16:53:11|eIWM|PACF|Cancel;Busted;|225243|98|94.35000|600|
16:53:11|eIWM|PACF|Cancel;Busted;|225244|98|94.35000|6568|
16:53:11|eIWM|PACF|Cancel;Busted;|225245|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225246|98|94.35000|2800|
16:53:11|eIWM|PACF|Cancel;Busted;|225247|98|94.35000|10000|
16:53:11|eIWM|PACF|Cancel;Busted;|225248|98|94.35000|804|
16:53:11|eIWM|PACF|Cancel;Busted;|225249|98|94.35000|1996|
16:53:11|eIWM|PACF|Cancel;Busted;|225250|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225251|98|94.35000|10000|
16:53:11|eIWM|PACF|Cancel;Busted;|225253|98|94.35000|2800|
16:53:11|eIWM|PACF|Cancel;Busted;|225254|98|94.35000|1000|
16:53:11|eIWM|PACF|Cancel;Busted;|225255|98|94.35000|10000|
16:53:11|eIWM|PACF|Cancel;Busted;|225256|98|94.35000|2800|
16:53:12|eIWM|PACF|Cancel;Busted;|225257|98|94.35000|1000|
16:53:12|eIWM|PACF|Cancel;Busted;|225258|98|94.35000|22404|
16:53:12|eIWM|PACF|Cancel;Busted;|225259|98|94.35000|27596|
16:53:12|eIWM|PACF|Cancel;Busted;|225260|98|94.35000|16000|
16:53:12|eIWM|PACF|Cancel;Busted;|225261|98|94.35000|700|
16:53:12|eIWM|PACF|Cancel;Busted;|225262|98|94.35000|6000|
16:53:12|eIWM|PACF|Cancel;Busted;|225263|98|94.35000|6000|
16:53:12|eIWM|PACF|Cancel;Busted;|225264|98|94.35000|4000|
16:53:12|eIWM|PACF|Cancel;Busted;|225265|98|94.35000|2000|
16:53:12|eIWM|PACF|Cancel;Busted;|225266|98|94.35000|2000|
16:53:12|eIWM|PACF|Cancel;Busted;|225267|98|94.35000|2000|
16:53:12|eIWM|PACF|Cancel;Busted;|225268|98|94.35000|2000|
16:53:12|eIWM|PACF|Cancel;Busted;|225269|98|94.35000|300|
16:53:12|eIWM|PACF|Cancel;Busted;|225270|98|94.35000|100|
16:53:12|eIWM|PACF|Cancel;Busted;|225271|98|94.35000|100|
16:53:12|eIWM|PACF|Cancel;Busted;|225272|98|94.35000|100|
16:53:12|eIWM|PACF|Cancel;Busted;|225274|98|94.35000|1500|
16:53:12|eIWM|PACF|Cancel;Busted;|225275|98|94.35000|800|
16:53:12|eIWM|PACF|Cancel;Busted;|225276|98|94.35000|200|
16:53:12|eIWM|PACF|Cancel;Busted;|225277|98|94.35000|400|
16:53:12|eIWM|PACF|Cancel;Busted;|225278|98|94.35000|100|
16:53:12|eIWM|PACF|Cancel;Busted;|225279|98|94.35000|2400|
16:53:12|eIWM|PACF|Cancel;Busted;|225280|98|94.35000|2200|
16:53:12|eIWM|PACF|Cancel;Busted;|225281|98|94.35000|5000|
16:53:12|eIWM|PACF|Cancel;Busted;|225282|98|94.35000|500|
16:53:12|eIWM|PACF|Cancel;Busted;|225283|98|94.35000|500|
16:53:12|eIWM|PACF|Cancel;Busted;|225284|98|94.35000|200|
16:53:12|eIWM|PACF|Cancel;Busted;|225285|98|94.35000|300|
16:53:12|eIWM|PACF|Cancel;Busted;|225286|98|94.35000|200|
16:53:12|eIWM|PACF|Cancel;Busted;|225287|98|94.35000|250|
16:53:12|eIWM|PACF|Cancel;Busted;|225288|98|94.35000|1140|
16:53:12|eIWM|PACF|Cancel;Busted;|225289|98|94.35000|250|
16:53:13|eIWM|PACF|Cancel;Busted;|225290|98|94.35000|266|
16:53:13|eIWM|PACF|Cancel;Busted;|225291|98|94.35000|1500|
16:53:13|eIWM|PACF|Cancel;Busted;|225292|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225293|98|94.35000|1190|
16:53:13|eIWM|PACF|Cancel;Busted;|225294|98|94.35000|4000|
16:53:13|eIWM|PACF|Cancel;Busted;|225295|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225296|98|94.35000|115|
16:53:13|eIWM|PACF|Cancel;Busted;|225297|98|94.35000|470|
16:53:13|eIWM|PACF|Cancel;Busted;|225298|98|94.35000|10400|
16:53:13|eIWM|PACF|Cancel;Busted;|225299|98|94.35000|2002|
16:53:13|eIWM|PACF|Cancel;Busted;|225300|98|94.35000|620|
16:53:13|eIWM|PACF|Cancel;Busted;|225301|98|94.35000|100|
16:53:13|eIWM|PACF|Cancel;Busted;|225302|98|94.35000|500|
16:53:13|eIWM|PACF|Cancel;Busted;|225303|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225304|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225305|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225306|98|94.35000|250|
16:53:13|eIWM|PACF|Cancel;Busted;|225307|98|94.35000|636|
16:53:13|eIWM|PACF|Cancel;Busted;|225308|98|94.35000|547|
16:53:13|eIWM|PACF|Cancel;Busted;|225309|98|94.35000|1000|
16:53:13|eIWM|PACF|Cancel;Busted;|225310|98|94.35000|1000|
16:53:13|eIWM|PACF|Cancel;Busted;|225311|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225312|98|94.35000|1400|
16:53:13|eIWM|PACF|Cancel;Busted;|225313|98|94.35000|321|
16:53:13|eIWM|PACF|Cancel;Busted;|225314|98|94.35000|200|
16:53:13|eIWM|PACF|Cancel;Busted;|225315|98|94.35000|100|
16:53:13|eIWM|PACF|Cancel;Busted;|225316|98|94.35000|100|
16:53:13|eIWM|PACF|Cancel;Busted;|225317|98|94.35000|1000|
16:53:14|eIWM|PACF|Cancel;Busted;|225318|98|94.35000|389|
16:53:14|eIWM|PACF|Cancel;Busted;|225319|98|94.35000|120|
16:53:14|eIWM|PACF|Cancel;Busted;|225320|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225321|98|94.35000|350|
16:53:14|eIWM|PACF|Cancel;Busted;|225322|98|94.35000|800|
16:53:14|eIWM|PACF|Cancel;Busted;|225323|98|94.35000|139|
16:53:14|eIWM|PACF|Cancel;Busted;|225324|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225325|98|94.35000|400|
16:53:14|eIWM|PACF|Cancel;Busted;|225326|98|94.35000|155|
16:53:14|eIWM|PACF|Cancel;Busted;|225327|98|94.35000|184|
16:53:14|eIWM|PACF|Cancel;Busted;|225328|98|94.35000|1725|
16:53:14|eIWM|PACF|Cancel;Busted;|225329|98|94.35000|200|
16:53:14|eIWM|PACF|Cancel;Busted;|225330|98|94.35000|300|
16:53:14|eIWM|PACF|Cancel;Busted;|225331|98|94.35000|380|
16:53:14|eIWM|PACF|Cancel;Busted;|225332|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225333|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225334|98|94.35000|300|
16:53:14|eIWM|PACF|Cancel;Busted;|225335|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225336|98|94.35000|101|
16:53:14|eIWM|PACF|Cancel;Busted;|225337|98|94.35000|200|
16:53:14|eIWM|PACF|Cancel;Busted;|225338|98|94.35000|1170|
16:53:14|eIWM|PACF|Cancel;Busted;|225339|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225340|98|94.35000|100|
16:53:14|eIWM|PACF|Cancel;Busted;|225341|98|94.35000|270|
16:53:14|eIWM|PACF|Cancel;Busted;|225342|98|94.35000|119|
16:53:14|eIWM|PACF|Cancel;Busted;|225343|98|94.35000|300|
16:53:14|eIWM|PACF|Cancel;Busted;|225344|98|94.35000|300|
16:53:14|eIWM|PACF|Cancel;Busted;|225345|98|94.35000|49700|
16:53:14|eIWM|PACF|Cancel;Busted;|225346|98|94.35000|400|
16:53:14|eIWM|PACF|Cancel;Busted;|225347|98|94.35000|775|
16:53:15|eIWM|PACF|Cancel;Busted;|225348|98|94.35000|125|
16:53:15|eIWM|PACF|Cancel;Busted;|225349|98|94.35000|200|
16:53:15|eIWM|PACF|Cancel;Busted;|225350|98|94.35000|100|

Right edge thoughts

Thursday, April 28, 2011

$130 Million in trades busted on a series of PUMP trades on Russell 2000... Hmmm..Why would someone buy all the offers in a market with no offers and more to the point, who can afford to lose $130 Million.... except....

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