Talk about a bias. I'll give you credit for at least admitting it. Of course it's manipulative. My point was "was the news really worth an 80 point move?" Of course the answer is no. I suspect most people would have seen it that way too and sold into the markets the next day. That's what efficient markets are about. Why did these traders leave those resting orders in place? I don't know but they did and no one forced them too. They knew there were risks to leaving the orders on, and they accepted them, only to get bailed out by the CME later on. Lucky them. As for you scenario, that would leave the "team" short contracts wouldn't it? If they were long at the close, and bought contracts in AH only to sell later on, who would they sell to, they were the only significant demand in that market.
NO YOU COULDN'T SAY THE SAME THING ABOUT THE PEOPLE IN THE WTC AIRPLANES. THAT IS POOR AND DISTASTEFUL TO COMPARE AN AFTERHOURS SPIKE TO THE MURDERING OF INNOCENT PEOPLE ANYWAY YOU LOOK AT IT! FINANCIAL LOSS CAN'T BE COMPARED TO MURDER IN MY BOOK. The difference is trading is all about profit/loss and risk management. Those are the hallmarks of trading. Flying is about transportation, not about death anyway you look at it. I think trading is one of the most honest/greedy professions there is, and that's why it's great. Do you take people money, Yes. Do they take yours yes. But no one is forced into making a trade (except MMs). You knowingly buy. Someone knowingly sells. For all the greed and money that's made, it's made honestly.
The ovelooked problem is that STILL after 3 years, people are still trying to game a .01 gain in est's, by a company that's still overpriced (CSCO) in this case. Order mechanics aside, the fact that this was remotely ascribed as a reason, says not one lesson in 36 months has been learned. Sad really.