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Citigroup Loses $1.2 Billion In 100 Millisecond Flash Crash

 
Anonymous Coward
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08/27/2012 06:56 PM
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Citigroup Loses $1.2 Billion In 100 Millisecond Flash Crash
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"Everyone’s favorite government-subsidized bank – Citigroup – flash-crashed to the tune of a $1.2bn market-cap loss in 100 milliseconds this morning.

It’s quiet out there; too quiet. But if you were watching carefully this morning, everyone’s favorite government-subsidized bank – Citigroup – flash-crashed to the tune of a $1.2bn market-cap loss in a fraction under 100 milliseconds. A 1.3% micro-crash on absolutely massive volume so perfectly visualized thanks to Nanex. When does this ‘liquidity-providing’ fiasco stop?"
[link to blog.alexanderhiggins.com]
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Flash crash huh? Looks like a large holder dumped their stock. I bet it regains some points before it dumps again. Looks like those in the know are leaving the markets in an orderly fashion to keep the illusion going as long as possible. They don't want it to crash all at once because they would lose their money too. What they want is to drop share price enough that it looks like a good buy in by causing it to move up a little, causing people (Gamblers) to place more bets. Once it regains some of it's losses it will dump again as another large shareholder takes their turn.

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