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Online Share Trading

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WTF happended at 16h48

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Rovert
Super Contributor
Anybody know what happened on the market at 16h48 ; some huge dips in prices across a number of shares...MPC, TRU, AGL. Technical glitch?
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14 REPLIES 14
Prow
Occasional Contributor
I think its the Malema news, not sure!
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Prow
Occasional Contributor
I think its the Malema news, not sure!
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SimonPB
Valued Contributor
what malema news ??
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jaj
Frequent Contributor
You're right Simon. Who cares about some nobody that's elevated by the media. I think people place far to much importance on Malema. Current politicians are far to shrewd to allow him to come back in regardless of who wins at Mangaung.
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stores
Super Contributor
I think that there is a serious technical problem either with OST or the JSE...The small daily graph on AGL shows a completely different picture compared to the stated closing price..Unusualtransactions have occurred on STX40 as well today.
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wattleido
Occasional Contributor
Looked to me like an institution started its auction algo system before the auction. So huge at market orders came in to many of the large cap stocks just before the auction and triggered some huge down selling.
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Russ
Super Contributor
Another good reason to have low price alerts rather than stop losses?Thankfully I wasn't at my computer when this happened. I would have freaked out if I had seen MPC for example drop from 12400 to 11400 in the blink of an eye.Surely this needs to be investigated?
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wattleido
Occasional Contributor
It was obviously a big institution as a lot of trades took place in different shares so doubt the JSE will investigate (although I believe they should). The JSE was more than happy to reverse significantly smaller and fewer trades in GBG yesterday though so I just get the feeling the big institutions and the algos associated with them get preferential treatment being the bigger sources of the JSE's income, but that's just me ranting. Who ever did this though will have a crummy looking P&L but whether that was firm or client funds I don't know. This was a win for the humans in some ways though as who ever had bids lower down will have bought at very nice prices, but alas yes those who had stops in place wont be happy.
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SimonPB
Valued Contributor
nah, doesn't look like @market trades coz they hit all the bids on the way down .. this was a lack of bids .. maybe off market trades being entered into market ..
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SimonPB
Valued Contributor
of course the JSE will investigate, in facty they the only exchange on earth that monitors in real time .. point is just coz we don;t understand doesn't mean it's fraud ..
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Rovert
Super Contributor
I hope we find out what happened ; imagine you got stopped out due to a technical glitch only to close up by a large % from your trigger....not good.
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SimonPB
Valued Contributor
you won't find out (unless you contact the JSE, an even then maybe, maybe not) .. but it happens, getting stopped out on odd price move ..
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Shard
Super Contributor
Fat finger on a Top40 Trade
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Shard
Super Contributor
Estimated R30mil loss for the institution/person
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