Monday, January 6, 2014
GLD Gold ETF 1-Minute Chart Mini Flash Crash and Recovery
A bulk selling move occurs in gold futures where gold rises to 1247, then flushes to 1232 then recovers to 1240. GLD performs a mini flash crash from over 120 down to 117, -3%, then recovers back up over 119, in 60 seconds 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.
Note Added 2:04 PM: The proverbial 'fat finger' trade is blamed for the mini flash crash but the CME now describes the gold behavior as a 'velocity logic event' and it actually suspended gold trading for 10 seconds.