Tuesday, December 24, 2013
COPPER Daily Chart Flash Spike and Flash Crash on Error Trade
Today's flash spike and flash crash is in copper trading. Copper spiked higher, leaping about +4.6% higher above the opening price at 3.30, on what is dubbed an "error trade." Yep, the good ole 'error trade' this time. If it isn't a fat finger, or a software glitch, then surely it must be an error trade. Copper collapsed after the spike higher but still finished up about +2%. Any trades above 3.42 were pulled back down and adjusted to this price level. Weird behavior in the RUT yesterday, today copper. Lift up the corner of the rug so the copper trading glitch can be swept underneath. A -2.5% drop may not seem like much of a flash crash but it is when it occurs over a few minutes time. Watch your wallet. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.