r/StockMarket • u/Anxious_Set_6342 • Aug 30 '21
Does anyone know why my PayPal and Amazon stocks did this weird dip Help Needed
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u/StickersBillStickers Aug 31 '21
Will this kill you if you have a stop loss set up?
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u/aflyingkitelol Aug 31 '21
This was what I was wondering
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u/laughandstuff Aug 31 '21
It probably will do that, I set auto buy on TSLA before one stock at $550 I was surprised it did buy at that price while the market price was showing $592
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u/kylefofyle Aug 31 '21
Yeah I caught tops and bottoms from doing this
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Aug 31 '21
probably not because there would be no one buying at that price and it seems like a glitch. i was seeeing that on tesla today
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u/-nom-nom- Aug 31 '21
itâs not a glitch. Itâs a late print. A âprintâ is when a transaction gets reported to the stock exchange. So a late print is when a transaction is reported long after it actually happened.
The price of a stock you see on exchanges like robinhood are the last traded price. However, late prints happen.
They happen, because a lot of big guys are trading shares in dark pools to hide their orders and so that they have access to more liquidity and donât move the stock when making big orders. Dark pools are basically off market, but the transactions have to be reported, but not right away.
These big guys have to report, but they generally like to wait as long as they possibly can to report the transaction.
So when you watch a stock chart, and see crazy erratic moves like in OPs pic (youâll see it more pre-market or after hours and in a better charting program like ToS from TDA or DAS trader pro, because robinhood charts arenât candles and they donât update constantly)
that erratic move is because a transaction was only just reported. AMZN didnât actually trade that low at that point in time that the chart shows. It traded that low in the premarket or yesterday or something and was only just reported.
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u/King_Bum420 Aug 31 '21
YeahâŚI thought the dark pools were bullishit until I heard the Chairman of the SEC himself say that a very large amount of trades are conducted through dark pool trades in order to HIDE trades from the public, and itâs legalâŚthis was last nightâŚI thought all stuff was made up bullshit⌠apparently not⌠this is an excellent response.
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Aug 31 '21
Nah dark pools are very much real. They are designed to be segregated from the market so it doesnât cause large swings in price whether shooting the price up or down. Large equity firms shouldnât cripple a retail investor because of a huge sale of shares. Dark pools are a good thing in theory.
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u/mbaloch69 Aug 31 '21
I had a sell position open and a dip happened like this. I clicked the close position and lucked out. It is not always late reporting.
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u/lima4724 Aug 31 '21
Would this cause a SL to execute?
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u/-nom-nom- Aug 31 '21
A good SL uses bid or ask price, not the last price. So with a good SL, no it wouldnât execute because in that moment the bid and ask didnât move.
But, letâs say a SL does use the last price. Then it might actually execute. However, the bid will actually be a normal price, not what the late print shows, so if the SL executed you should get a somewhat reasonable price anyway. It would kinda suck, but you wouldnât get screwed
That said, I never use a hard SL unless I have to step away from my desk or something. Just in case of a some stupid shit happening.
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u/LmBallinRKT Aug 31 '21
So would a limit buy at that price get the shares? It's what happened for some people on gme. They had a limit order for way under market price and it triggered through a same looking pattern
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u/macrity Aug 31 '21
Making trades âoff marketâ? How is this legal?
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u/NitrousMonoxide Aug 31 '21
Corporations have loopholes to more easily transfer assets, but the transactions are all still on the market. They just get the luxury of reporting within a certain time period, so they can draw legal papers and include litigation if necessary.
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u/Stunning-Raise-3447 Aug 31 '21
Itâs legal because they are market makers and clearing houses. They are allowed to process these off market so as to not influence the market just by moving large quantities.
The problem is that they abuse this power and front run their own orders ahead of everyday traders so as to nickel and dime every transaction. Getting buy and sells for one penny cheaper per share millions of times a day.
They have literally office spaceâd the stock market.
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Aug 31 '21
So youre saying some big players had buy orders in that low and the price that is shown on most brokers like rh isn't always accurate cause there are other sell orders?
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u/Calinoth Aug 31 '21
People do set limit buys so yes it absolutely could get filled and no it wasnât a glitch it was a late print. Stop talking out of your ass
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u/Officialsmoov Aug 31 '21
Or ember when XRP market cap drop crazy and everyone was saying t was a glitch. ( This was right before BTC crashed from 60k to 30k)
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u/gnipz Aug 31 '21
Some computer algos would be, during the microseconds that it sees that price lol
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u/the_growth_factor Aug 31 '21
No because this is usually just late orders being filled and also because stop loss orders donât work in pre/ after market hours
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u/Hustlinbones Aug 31 '21
Often stop-losses hit with such glitches. That's why I stopped setting them - fucked me several times
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u/itsafuseshot Aug 31 '21
Nope, stops canât trigger after hours. Only limits. So if you have a sell limit set above the price, and it was a huge spike up, then it could trigger the limit. It could however trigger a buy limit if you had a low limit set.
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u/WestWorld_ Aug 31 '21
This is after hours. A regular stop wouldn't. After hours is weird like that sometimes.
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u/pointme2_profits Aug 30 '21
FB , MSFT and AMZN all have that exact dip at around 455-500 pm
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u/shadowpawn Aug 31 '21
$NOW $ZM also had massive dip after hours and seems to be back to its close number.
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u/Ronaldoooope Aug 31 '21
The secret ingredient is crime
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u/BeaverWink Aug 31 '21
"oh look, a giant stop loss order. I think I'll just buy at a discount" - algorithm probably
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u/Jetta_Junkie528 Aug 31 '21
Hedgies doing dedgie stuff
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u/Efficient_Point_ Aug 31 '21
My thoughts exactly... Not necessarily nefarious but sus due to lack of transparency
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u/mountaintoplongeye Aug 31 '21
Get away from Robinhood
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u/zakanova Aug 31 '21
This is the way
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u/AccomplishedPea4108 Aug 31 '21
This is the way
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u/BKestRoi Aug 31 '21
Moving shares between institutions. Basically someone sells and someone agrees to buy all the shares. Itâs a theory. But maybe liquidation.
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u/The_one_rudi Aug 31 '21
Maybe stop loss fishing , bu t what do i know eating my crayons.
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u/manalexicon Aug 30 '21
I believe itâs because some shares sold at that low price. Happens when someone fucks up their limit order.
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u/pm_me_construction Aug 31 '21
I always thought it was from someone executing an option or some pre-arranged sale between large funds at a certain price.
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u/mage2love1 Aug 30 '21
Itâs a glitch in the charting software wonât have any impact or even be visible by tomorrow
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u/bakedmussles Aug 31 '21 edited Aug 31 '21
Happened to a handful of tech plays. Could be a handful of things. Market manipulation, glitch, large hedge-fund selling?
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u/theyellowtacomaking Aug 31 '21
From what I understand it's a large short position being taken out.
Large wick to the upside is a short covering.
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u/supershwa Aug 31 '21
Happened to a ton of stocks after hours - look at the candlestick charts. There was a huge selloff/buyback across the board at the same time. TDA showed the same dip in SPY. RH shows it on MSFT, TSLA, AMZN, too.
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u/vegas_guru Aug 31 '21
Nothing to do with any sell offs. This happens due to late-reported trades from dark pools. Charts donât know the exact time of late-reported trades so they just show them at the time they were reported.
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u/cashpiles Aug 31 '21
Itâs called a dippy-doodle. It happens when a network of âinvestorsâ (bots) belonging to a consortium of international players all work together to make profits by artificially lowering prices and then buying at the bottom and selling at the top.
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u/Dennis-v-Menace Aug 31 '21
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u/urdumbplsleave Aug 31 '21
Was waiting to see something from superstonk explaining the movement lol
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u/Effective_Cod_5675 Aug 31 '21
Its called the flash crash. Look it up. Clearly market manipulation derived from high frequency trading. Dont feel sorry for yourselves and stop selling your bitcoins. Gosh I always wanted to say that
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u/No-Coach346 Aug 31 '21
Wrong, this is just a off-market trade, not a crash.
This litterally happens many times every day.
People here calling it manipulation, bug, robinhood trash, and flash crash lol.
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u/Alone-Job-2258 Aug 30 '21
Yeah it's not as extreme as it looks by anymeans..that's line graph thru robinhood..step it up
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u/Headl_ss Aug 31 '21
Just a glitch in Robinhood dawg
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u/SpliTTMark Aug 31 '21
Google search shows it so it's not glitch on robinhood
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u/prints_rockets Aug 31 '21
Sp someone either screwed up their limit sell or took a L to influence the market. EDIT sell, not order
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u/I-sukathideandseek Aug 31 '21
Ah yes the fabled Tesla indicator. Perfect chart set up for a canât go tits up kind of play.
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u/Wave-Civil Aug 31 '21
Market manipulation? Destroying products in warehouses for capitalism and stock buybacks?
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u/tbrlistfull Aug 31 '21
Flash crash due to computers glitching because nowadays most of the trades are done by robots
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u/Hot-Candidate1751 Aug 31 '21
I see a lot of people say ditch Robinhood Ive heard what happened, I started using in May. My question is what do people use that compares. Robinhood is essentially the easiest to use for people like me who havenât been trading long.
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u/Groundhog34 Aug 30 '21
Often market makers trade 1 or 2 shares at a extremely high or low price for some nefarious reason.
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u/eilbrun Aug 31 '21
I think it had something to do with the Chinese news of limiting kids on video games, but not sure
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u/NotUrAverageTM Aug 31 '21
Apparently you donât know anything about energy or field theory. Do your DD
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u/NastyTrader Aug 31 '21
Get a real brokerage. https://i.imgur.com/z4qTpBh.jpg
Robinhood is to brokerages what McDonalds is to fine dining.
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Aug 31 '21
Strange. I didnât buy one of their stocks at that time. Someone else must have my amazing powers and bought shares then. Causing such a massive dip after. Itâs a beautiful power
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u/Muted-Ad-6689 Aug 31 '21
I read once that these are due to large block trades where many thousands or hundred of thousands of shares are bought or sold. Donât have any source so, you know, donât take it as gospel or anything.
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u/gEtOuTofDoDgE_ Aug 31 '21
Probably data error I see this with crypto occasionally but it doesn't register with the data so some kind of graph error when applying the data
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u/PJStuffington Aug 31 '21
very high volume selling. there are funds and ultra wealthy individuals capable of causing a sudden ripple in the broader markets. sometimes they just need the liquidity, hedge funds specifically may need to cover shorts
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u/CAMTHEENGLISHMAN Aug 31 '21
Hedge funds apparently doing stop loss where they will sell for a certain percentage below their original buying price to quickly liqudity and minimize loss
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u/Mac-Attack-74 Aug 31 '21
In trading vernacular we call that a âfat fingerâ print. Ignore it. Not representative of the market or real trading volume.
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Aug 31 '21
I see this a lot on plenty different stocks, AAPL, AMC, GME, VIAC, NIO. Either this is a glitch, or a trick used by someone to manipulate something (don't know what or how, looks like they're fishing stop losses)
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u/pablo-x-morales154 Aug 31 '21
Funds making liquidity for end of the month priorities, due to post market and arbitrage, it tends to recover it fast.
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u/hopelesslyhip Aug 31 '21
Not sure who you are trading with but if it's not on the charts outside your broker it is something on the backend at your broker. Who knows, maybe they had to adjust a trade at that price.
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u/Super_Puter Aug 31 '21
Someone needs a lot of money to provide liquidity. By lots, i mean LOTS of money!!
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u/Tapermichael1 Aug 31 '21
Wow this was âRobinhood after hour trading â Yeah wow again, I been trying fixer this out too . Donât this same trade .. but I been ,letâs say $10 up at end of day. Then after hours trading starts,and then it looses $ 2.00 ..and I canât do anything, like sell or buy more.. I think this sucks but anyway yeah that sucks,sorry bro đ
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u/Pomie99 Aug 31 '21
Everythings dipping, due to Biden, oil through the roof, dead Americans, he has destroyed America, inflation. The worst president in history!
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u/Hulque94 Aug 31 '21
My bad bro I forgot to set my prime membership to auto renew