Fat Finger

AAPL showing a high trade of 99,999.999 on Scottrade!

Talk about your fat finger.
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Some people on CNBC and BB Radio are trying to make this drop a story about a fat-finger trade on PG. Ok, there may have been a fat-finger trade for PG, but how can anyone buy this story?
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Rumors of bank lending in europe frozen.
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Somebody stuck long when the margin requirements went to 50%

Instant liquidation.

Not a retail client
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Yahoo finance is screwed up... Can't get quotes.


The Boyz are possibly preventing trading [selling].
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WOW!!! That was no mirage or misprint...shares were flowing there.

AAPL goes from 250 to 200 and then from 200 to 250 in a span of 30 minutes!?!?

I can't wait to hear the explanation for this....
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It couldn't happen to a nicer market based on fraud and bull****.
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Was listening to a guy on Bloomberg as this was happening. There were no glitches in the NYSE - the market went no-bid as the HFT went into reverse. That's why none of us small players were going to execute a trade. You just can't do it.

Someone(s) hit the sell button on the machines - and they executed just fine - but there were no buyers.

Unless they take all those machines off-line, we're going to see this again and again and again - until there's nothing left.
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A couple of days ago Crammer said the risk of being out of the market is greater than the risk of going long, good call. (/sarcasm)
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Imagine if the no-bid situation had persisted for just 15 more minutes... considering the slope of the SPX at the time it reversed.

I bet we were only 5-10 minutes away from a lock limit / halt.
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And let's not forget, no circuit breakers after 2:30 ...
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Bogey: Yea there is, they'll stop trading if dow drops somewhere over 2100 points after 14:30. They won't start trading again till the next day.
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Fidelity and BofA trading systems were hopelessly lagged, BofA even said "We are having technical difficulties".

Does this mean all the people who didn't get out today because they couldn't, will sell off first thing tomorrow morning?
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How many tens of billions of $ lost via this "trading" error?

Who's liable?

And those privy to the trading error immediately could make billions on the bounce back.

Wonder if trades will be nullified in both directions for a certain time period.

This could get interesting.
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P&G didn't even start the ****ing sell off. Futures were falling before it did.

As far as falling like that and coming back, MANY stocks traded at LESS THAN A PENNY and came back to almost where they were before the crash. Every stock you look at has a pattern similar to P& G


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I believe this was an 'error'. In the sense that someone entered an order which was bigger than the market.

Duncan Neiderauer said it very well. When we have imbalances on the NYSE, we halt the stock, but other markets refuse to do so. So things halt in NY, and share trade down 10-20-30 percent in other thinly traded markets. Traders see this, and they panic...not realzing that these lower trades take place on 'light' volume.

That's the world in which we operate. There was NO PPT involved in 'rescuing' the market. When the NYSE reopened trading in the halted shares, prices rebounded to where the buyers and sellers...'the liquidity'... were. Simple enough.

I could start a rant, but this is what happens when the markets are not linked, traders at all levels (including retail and day traders)have direct access to the tape, and there are no market makers or specialists (i.e., no liquidity providers) involved. That's what people wanted. They got it.

DEAL WITH IT.

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I'm saying that a confluence of circumstances, aggravated by investor demands to have unlimited direct access to the markets, produces these kinds of events.

An error, as in fat fingers? A too large order? A liquidation? i have no idea, and we will probably never know.

I am saying that if you are in these markets, and you are not paying 110% attention to EVERYTHING...you get what you deserve.

It is gong show...nobody gives you your money back when someone unleashes a buy program and you get your **** ripped off because you were short, do they? So **** these people who sold into a panic because they didn't know what they were doing. The got what they deserved. Maybe some people found out today that this is real capitalism...not some dainty little casino where everyone parts as friends. I don't want you as my friend. I want YOUR MONEY.