Nanex Research

Nanex ~ 15-Feb-2013 ~ Retail Shelling

On February 15, 2013 at 14:02:30, the Retail Sector began a steep slide that would take it down 2.5% over the next 30 minutes. Looking closer at the trading data for the SPDR S&P Retail ETF (symbol XRT), we find a possible fake-out rally at 14:00:34 followed by a 216,091 share trade on a Dark Pool about 1 minute before the slide begins.

1. XRT showing trades color coded by exchange and NBBO (gray shading).

2. Zooming in..

3. Zooming in closer. The dark pool trade (big green/white square) maybe related to the fake-out rally preceding it. The price slide begins at 14:02:30.

4. Zooming in, showing the fake-out rally that may be related to the large dark pool trade.

Nanex Research