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.
You’re exactly right. There are games afoot. The exchanges are trying to protect big players that got destroyed by automated trading today. I understand automated trading and all, but have you noticed how natural gas “stabilized” so quickly. Commodities aren’t usually that quick to come back. Just weird.
I’m glad I’m not the only one who thought of that.
SEC, actually. All the exchanges have the same rules and they're all posted publicly on their websites, i.e., "this is the definition of a bogus trade".
If I have $20 in my bank account and I go to withdraw it and the ATM spits out $200, I'm not entitled to that profit, because of the error. Same goes for markets. The players know the rules.
It is both sad and exciting to be alive now. I think this generation will be the one that sees the culmination of history with our own eyes. If you are secure in your knowledge of Who ultimately wins, there is nothing more exhilirating that to see promises made 6000 years ago be fulfilled.
Yes there are tough times now, and worse coming. But like labor pains, they will be quickly forgotten in the joy of the coming age.
could this be a dry run for a terrorist attack on our markets?
The dry run was in the late summer of 2008. Hedge funds control wall street while the public gets cheated.
Hedge funds are just like the investment pools of the 1920s which were outlawed. Joe Kennedy was one of those “operators” back then.
Somebody made a lot of money today. George Soros, we’re looking in your direction.
Obama is a criminal.
Something’s is not right about the event that took place today.
Another par for the course of bad things hitting this nation.
Yeah how? And its not much of a free market now that Gov controls the economy. We are almost ready to start our soviet style 5 year plan.
Wasn’t that a terrific book? Mash that together with “Sum of All Fears” and ...well, it’s like reading the headlines over the past decade. Without the sappy feel-good ending, unfortunately.
I guess the Commies have full control of Wall Street now.
I wonder how they can cancel trades without telling why?
Ok, this sounds kind of crazy and I’m not sure they can do this and I have read the entire thread of comments too.
First, I don’t get how such a “huge” mistake could get by all the stop-gaps for a million/billion dollar trade. I think that is a bogus explanation. A distraction.
Second, some are thinking more like economic warfare. There were a lot of indicators back in 2008, that someone, took advantage of a weakness in the system then.
Either way, if this was a mistake or an attack, the smart move by the SEC is to nullify the trades and restore value. Thereby hopefully protecting the country. This looks more like they learned something back in 2008 that is not openly discussed with the public.
I keep thinking about something then President Bush said and we railed against it, “I destroyed capitalism in order to save it,” or something to that effect. We had cotton stuffed in our ears at the time and a crazy election about to happen. We disagreed with him, maybe we should revisit what he was trying to tell us.
Who is gonna stop them?
Nahce clean job, Elmo.
Where is Clinton and her Russian Reset Button when ya need it?
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