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Nasdaq, NYSE to Cancel Some Trades Made During Selloff
CNBC ^
| 05/06/2010
| CNBC
Posted on 05/06/2010 3:59:06 PM PDT by The Magical Mischief Tour
Nasdaq Operations said it will cancel all trades executed between 2:40 p.m. to 3 p.m. showing a rise or fall of more than 60 percent from the last trade in that security at 2:40 p.m or immediately prior.
Nasdaq said the stocks affected and break points will be disseminated soon.
TOPICS: Breaking News
KEYWORDS: dija; dow; economy; nasdaq; nyse; stocks
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To: The Magical Mischief Tour
We have a serious glitch in our FREE market. Someone is tampering with the evidence.
To: rovenstinez
3
posted on
05/06/2010 4:02:23 PM PDT
by
Palter
(Kilroy was here.)
To: The Magical Mischief Tour
OOPS!
Looks like the wrong people must have made some money.
4
posted on
05/06/2010 4:03:38 PM PDT
by
blam
To: The Magical Mischief Tour
WHAT THE FU-HELL is this all about!?
Sounds like somebody gambled and lost, and wants their money back!
It’s not who you know. It’s who you . . . .
5
posted on
05/06/2010 4:05:27 PM PDT
by
mark3681
To: The Magical Mischief Tour
How can they legally do this?
6
posted on
05/06/2010 4:05:32 PM PDT
by
rawhide
To: The Magical Mischief Tour
So a stockholder (or their goofy software) panics and sells at too low a price and now the exchange is undoing the transaction?
7
posted on
05/06/2010 4:05:35 PM PDT
by
farmguy
To: The Magical Mischief Tour
Whoa! Just how can they do that legally? I smell some lawsuits coming...
8
posted on
05/06/2010 4:06:29 PM PDT
by
Deagle
To: The Magical Mischief Tour
A what-the-hell moment
??????
9
posted on
05/06/2010 4:06:42 PM PDT
by
lapsus calami
(What's that stink? Code Pink ! ! And their buddy Murtha, too!)
To: The Magical Mischief Tour
Why did you remove the NYSE from the title??
10
posted on
05/06/2010 4:07:14 PM PDT
by
FourPeas
(God Bless America)
To: The Magical Mischief Tour
Hard to keep an illusion of a free market when they do all their sleight of hand slowly and in front of your face.
11
posted on
05/06/2010 4:07:41 PM PDT
by
Bogey78O
(Don't call them jihadis. Call them irhabis. Tick them off, don't entertain their delusion.)
To: The Magical Mischief Tour
12
posted on
05/06/2010 4:08:56 PM PDT
by
ConservativeMind
(Hypocrisy: "Animal rightists" who eat meat & pen up pets while accusing hog farmers of cruelty.)
To: The Magical Mischief Tour
Obama: ‘I Do Think at a Certain Point You’ve Made Enough Money’
To: The Magical Mischief Tour
You Think Today's Market Was Nuts? It Wasn't Anything Compared To April 4, 2000 Joe Weisenthal
May. 6, 2010, 5:46 PM
Today was pretty wild, but if you want to see wild, take a trip down memory lane to the NASDAQ on April 4, 2000, when the market was at one point down 14% before snapping back to nearly even. The wild action is highlighted in yellow.
On that day the NASDAQ opened at 4283, hit 3649 at mid-day, and closed at 4148.
And then what? A week later the market was back at those depressed levels.
[snip]
14
posted on
05/06/2010 4:09:13 PM PDT
by
blam
To: The Magical Mischief Tour
15
posted on
05/06/2010 4:09:52 PM PDT
by
ColdOne
(:^))
To: The Magical Mischief Tour
So what happens to those trades that were automatic stop losses triggered by positions caused by the error?
I think those traders are SOL.
16
posted on
05/06/2010 4:11:06 PM PDT
by
AU72
To: The Magical Mischief Tour
Paging Tom Clancy, NASDAQ owes you royalties for “Debt of Honor”...
17
posted on
05/06/2010 4:11:32 PM PDT
by
RightOnTheLeftCoast
(Obama: running for re-election in '12 or running for Mahdi now? [http://en.wikipedia.org/wiki/Mahdi])
To: The Magical Mischief Tour
Now we have stock market do overs? WT?!
18
posted on
05/06/2010 4:14:54 PM PDT
by
444Flyer
(We shall not be moved.)
To: blam
Looks like the wrong people must have made some money. More like the wrong people LOST money.
19
posted on
05/06/2010 4:17:46 PM PDT
by
P-Marlowe
(LPFOKETT GAHCOEEP-w/o*)
To: The Magical Mischief Tour
Well, isn’t that special. How do they get the authority to do that?
20
posted on
05/06/2010 4:20:48 PM PDT
by
livius
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