DOW Future - down 120 points in a few ticks?

[wfo]

Very annoyed - went long on the DOW last night after the close around 9:15pm (UK time) and was happy as the position came to me... Checked it again around 10pm and I'd been stopped out when I should have been well in the money! IG Index tell me (and I've checked, so they're not telling porkies unfortunately) that as the DOW future reopened at 9:30pm (UK time) last night, it was down 120 points for a couple of ticks before instantly reverting to its previous level.

Net result, I've lost some money and lost all of the upside from the trade (it's currently up 80 points).

Now I can't argue with IG, but is this sort of price action legal on the underlying future? Looks like some serious manipulation to me...

 

[Lord Flasheart]

Very annoyed - went long on the DOW last night after the close around 9:15pm (UK time) and was happy as the position came to me... Checked it again around 10pm and I'd been stopped out when I should have been well in the money! IG Index tell me (and I've checked, so they're not telling porkies unfortunately) that as the DOW future reopened at 9:30pm (UK time) last night, it was down 120 points for a couple of ticks before instantly reverting to its previous level.

Net result, I've lost some money and lost all of the upside from the trade (it's currently up 80 points).

Now I can't argue with IG, but is this sort of price action legal on the underlying future? Looks like some serious manipulation to me...

its legal im afraid.You could have been on the other side of the coin and had your target hit.On a plus note if you had been trading futures the market might have gone through your stop,but with s/b its unlikely

 

[wfo]

Oh well thanks for the reply.... Will teach me when to put trades on in the future!

 

[avtarsaini]

WFO, I did the same. Placed a long at 8.45pm. was grinning at 9.45pm until I logged on. I checked with IG and got the same response as you. I also have an account with city index (not as good a platform) and looked at their charts - shows the same drop and immediate return within a few ticks. Doesnt make sense to me though reassured a bit by lord Flash that it is legal. Still cant understand how or why this has happened though. Does anyone know, and how often does it occour on the indices. I thought the dow was too big to manipulate/fluctuate like this. Cheers.
Av.