FinancialAdvisor's College Class (FACC)

[roguedolphin]

Traders puzzled by eery "911" closing of S&P futures

http://www.rense.com/general29/9111.htm


CHICAGO - In an ironic twist, the September Standard & Poor's 500 futures contract closed Tuesday at 911.00 — a day before the one-year anniversary of the terrorist attacks.

There was some buzz on the Chicago Mercantile Exchange stock index futures trading floor Wednesday about why that happened, but there were no reports of collusion or price-fixing.

"It was bizarre, it was strange, but it wasn't manufactured," said Richard Canlione, vice president of institutional financial futures at Salomon Smith Barney. "It was just the rules of coincidence ... That's just where the market was."

"It just proves the market God was with us, remembering the day, too," said one CME trader.

The start of trading was delayed Wednesday in honor of those killed in the attacks.

Market players noted prices were already moving higher throughout Tuesday after two prior up days, so it wasn't as if an abrupt change in direction took place to achieve the numerical equivalent of Sept. 11.

Some thought perhaps suspicious activity could have taken place, but most brushed it off as a "patriotic rally" and didn't see the harm in it.

"I'm always kinda paranoid, and I find the fact that we settled there kind of eerie, but I don't think we should dwell on it or read too much into it," said Tim Haefke, a stock index futures trader and president of Top-Notch Trading.

The futures contract is an obligation to buy or sell a basket of stocks composing the Standard & Poor's stock index at a set date for a fixed price.

(EDITORS: Kristina Zurla is a correspondent for Dow Jones Newswires)



Rogue comment....There is much "manipulation" in human history. Our economy is "manipulated" by the Federal Reserve. When it is time to bring this economy down....it WILL happen. It is destined.....and a part of their "Grand Vision".

Rogue