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Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more

 
Anonymous Coward
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08/01/2012 01:48 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Perhaps someone knows what the Fed is going to say this afternoon?!?!? And this sell off is a reaction to that insight, covered as a computer glitch...

Just a thought...
 Quoting: Saddletramp


The Fed, the ECB or possibly both will disappoint

I had recommend shorts on SLV yesterday on the technicals, which suggested that many were anticipating the Fed would NOT ease in a way that would move either markets or metals

I begin with the assumption that markets are manipulated and there are quite a few who are aware of news before it is released to the rest of us plebes lol
 Quoting: Baltar


bump
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
1 minBusiness Insider‏@businessinsider

Here Comes The Fed Decision... by @SimoneFoxman [link to read.bi]
Baltar  (OP)

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08/01/2012 01:50 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
I postulated in another thread that BDI Index is down about 90% of its 2007 high.... shipping requires credit...lots of credit when the goods float.... if credit is not available, goods simply dont float.... Me thinks we are watching a credit event become exposed.... think about the effect of exposing the LIBOR manipulation on the credit providers & derivatives market! Risk on has prolly moved exponentially.... global credit is possibly disappearing creating illiquidity.... the sale of 60,000 e-minis at yesterdays close & following sell off this morning may indicate that big players are seeking liquidity before there isnt any! HMMM!
 Quoting: Therion156 1461665


Well this has been one of my theories from about 2 months back, when there were a few very nervous weekends and talk abounded amongst analysts I know and follow that a CREDIT EVENT was unfolding

then suddenly, two of the more ambitious analysts changed their tune abruptly and started talking big rallies and buy buy (cheerleader narrative) in order to get in front of the camera

The big retail news networks love market pollyannas

the others went quiet

One kept asking if the TLT was over 130 WHERE WAS THE EVENT? He kept insisting the bond market must be wrong and therefor stocks would soar

However, in my experience, my bond trader friends and colleagues were usually much smarter than most stock brokers, equity analysts and pension fund managers.

Bonds rarely lie, and they have been saying that something is up which demands caution

My retort to the cheerleaders was this

WHAT if there has been a credit event in a non-transparent market like China, Russia, Europe or even an emerging market. What if there has been a credit event we haven't heard about yet because those countries are obsessed with saving face and controlling the situation until it cannot be hidden any longer and is ready to explode

Just think Japan with the Tepco/Fukushima debacle

So yes, a long winded way of saying that you make a point I agree with, and I believe we'll know within the next month and a half.

Last Edited by Baltar on 08/01/2012 01:58 PM
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.
~Marcus Aurelius
Anonymous Coward
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08/01/2012 01:53 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Somewhere, somehow, someone made money all all this technical trouble. That's all they have to do these days. A glitch, then boom, an opportunity to steal while people are confused. I have no faith in the market.
Anonymous Coward
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08/01/2012 01:54 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Perhaps someone knows what the Fed is going to say this afternoon?!?!? And this sell off is a reaction to that insight, covered as a computer glitch...

Just a thought...
 Quoting: Saddletramp


spock
Saddletramp

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08/01/2012 01:55 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
What time are they supposed to do Ben Bernake's announcement?!?!?
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."

"We don't rent pigs!"
Anonymous Coward
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08/01/2012 01:56 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Them 'glitches' keep on rollin...

Vol / Avg. 32.88M/1.33M

Holy fuck lol....
Baltar  (OP)

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08/01/2012 02:05 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Them 'glitches' keep on rollin...

Vol / Avg. 32.88M/1.33M

Holy fuck lol....
 Quoting: Anonymous Coward 14457252


whoa

talk about skeleton volume

wtf?

If the volume doesn't pick up after the Fed statement, then we are definitely no longer in Kansas
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.
~Marcus Aurelius
Anonymous Coward
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08/01/2012 02:09 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
How can the market be flat with such a massive transfer of wealth? Shouldn't it tank or soar? If that does not move the numbers how in the hell can it jump so much on a single headline? Scam indeed. wtf
Anonymous Coward
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08/01/2012 02:12 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Bullets n Beans Bitches! rolleyes
Anonymous Coward
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08/01/2012 02:14 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
5 charts of NYSE stocks roiled by ‘erroneous trades’. NYSE Euronext’s NYX-2.04%New York Stock Exchange and the Nasdaq Stock Market NDAQ+0.97% are investigating “potentially erroneous trades” that occurred in the first 45 minutes of Wednesday trading in 140 stocks. Market-maker Knight Capital KCG-22.75% admitted a software problem was to blame, and it was advising clients to use other platforms.

Here’s a look at some of the early, high-volume spikes (or drop) in stocks that are part of the NYSE’s investigation. Plus, a bonus chart in Knight Capital, whose stock is down 20%.

RadioShack Corp. RSH-3.09%
[link to blogs.marketwatch.com]
Anonymous Coward
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08/01/2012 02:15 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
[link to www.marketwatch.com] FLASH CRASH???
Anonymous Coward
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08/01/2012 02:15 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
1 minBusiness Insider‏@businessinsider

FED SAYS IT WILL PROVIDE ADDITIONAL ACCOMODATION AS NEEDED, KEEPING LOW RATES THROUGH 2014 [link to read.bi]
Anonymous Coward
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08/01/2012 02:16 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
[link to www.marketwatch.com] FLASH CRASH???
 Quoting: Luisport


[link to www.freestockcharts.com] IN EURO TOOO???
Saddletramp

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08/01/2012 02:20 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
1 minBusiness Insider‏@businessinsider

FED SAYS IT WILL PROVIDE ADDITIONAL ACCOMODATION AS NEEDED, KEEPING LOW RATES THROUGH 2014 [link to read.bi]
 Quoting: Luisport


There it is...

Someone just made a boat load of money this morning...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."

"We don't rent pigs!"
Baltar  (OP)

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08/01/2012 02:21 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
1 minBusiness Insider‏@businessinsider

FED SAYS IT WILL PROVIDE ADDITIONAL ACCOMODATION AS NEEDED, KEEPING LOW RATES THROUGH 2014 [link to read.bi]
 Quoting: Luisport


As thought, the Fed disappoints with vague comments, no commitment to easing

Silver continues to drop and SPY and other major indices should follow for now

but for now, expect the usual post Fed statement 30 mins of crazy ivan reversals, swings and churn
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.
~Marcus Aurelius
Saddletramp

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08/01/2012 02:24 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
1 minBusiness Insider‏@businessinsider

FED SAYS IT WILL PROVIDE ADDITIONAL ACCOMODATION AS NEEDED, KEEPING LOW RATES THROUGH 2014 [link to read.bi]
 Quoting: Luisport


As thought, the Fed disappoints with vague comments, no commitment to easing

Silver continues to drop and SPY and other major indices should follow for now

but for now, expect the usual post Fed statement 30 mins of crazy ivan reversals, swings and churn
 Quoting: Baltar


Bernake is not a stupid man, even though he plays one on TV, he knows good an well the next QE is their last...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."

"We don't rent pigs!"
Therion156
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08/01/2012 02:26 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
When BDI began collapsing I suspected a credit\liquidity event had started.... when ATM's were reportedly experiencing "glitches," then Russia terminated market activity I then knew something big was being covered-up\over.... BUT it didn't make sense until it was reported that the Fed had ACTUALLY purchased 61% of UST's..... i surmised that: 1) either the Fed (a private bank) was capitulating to a future crash, or 2) the credit markets have NEVER recovered from the 2008 liquidity crisis & following bankruptcies... or 3) a combo of 1 & 2.... Asia, led by Japan & China along with Euro zone are slowly collapsing, therefore there is NO transmission mechanism to create "REAL COMMERCIAL CREDIT." The Central Banks can monetize and\or create unlimited monetary aggregates, BUT they cannot produce "commercial credit," that can ONLY be produced by the commercial markets in the REAL ECONOMY... this is the closely guarded secret of TPTB.... the banks are really just a shadow.... the real financial powers reside in the commercial credit markets....
Anonymous Coward
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08/01/2012 02:27 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Something very strange going on

Stocks gapping up 10%, gapping down 10%, and no story about this?

This just on ZH:

RT @zerohedge
Broken Market Chronicles: Initial Forensic Visual Evidence Of This Morning's Algo Freak Out [link to DON'T_USE_THIS.com] > $KCG $SPY


Broken Market Chronicles: Initial Forensic Visual Evidence Of This Morning's Algo Freak Out

Submitted by Tyler Durden on 08/01/2012 10:27 -0400

Capital Markets Exchange Traded Fund fixed Louis Bacon NASDAQ Nat Gas New York Stock Exchange


Anyone who has had the displeasure of trading this market since the open will be well aware that the massive selling that started at 3:59:57 PM yesterday just as we showed, appears to have continued into today, after an algo, supposedly one impacting NYSE stocks this time, and proving that the entire market is a broken joke, not just Nasdaq and BATS, and one which is linked to Knight Capital, has continued this morning, sending countless stocks into the proverbial "batshit" formation, with moves of 10% higher and lower for no apparent reason.

That's ok: the SEC and various other regulators are all over it, and will guarantee that the markets "are fixed." In other news, today we will report the latest massive outflow from domestic media funds. In the meantime, here are the first two picture of stocks getting pounded in super slo-mo courtesy of Nanex. Behold "perfectly normal" bids, offers and prints.

This is UNG: probably the most comprehensive way for retail investors to bet on nat gas. Not anymore: the ETF freaked out just as bad as hundreds of individual stocks.
 Quoting: Baltar
Who is Tyler Durden???



Serenity777

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08/01/2012 02:29 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Might be because the Federal Reserve is about to be closed...

MAJOR EVENT: Liens Filed Against All 12 Federal Reserve Banks
[link to divinecosmos.com]

... check out the liens themselves.
 Quoting: Anonymous Coward 21064305


Get that out of here...

David Wilcock IS NOT WELCOME. This is a thread dedicated to realism and actual trends.

There have been NO MASS ARRESTS, and as far as I can see...the only bankers going down are mid-level clerics who are being sacrificed for the greater evil.

Wilcock is a part of the PROBLEM. He's extorting money from the hopeless while selling false goods and bullshit solutions.

-That whole thing about him NEEDING 350 million hits to his website or "HE DIES?" That was the most rich form of acting YET.-

knockoutblackeyeknockoutblackeyeknockout

Last Edited by Serenity777 on 08/01/2012 02:34 PM
watching the "run up" to the elections and the "hopes and dreams" that are built as a result is like watching a dead mouse that is still able to make his exercise wheel go around because his nerves are still twitching that familiar motion...
Anonymous Coward
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08/01/2012 02:33 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
1 minBusiness Insider‏@businessinsider

FED SAYS IT WILL PROVIDE ADDITIONAL ACCOMODATION AS NEEDED, KEEPING LOW RATES THROUGH 2014 [link to read.bi]
 Quoting: Luisport


As thought, the Fed disappoints with vague comments, no commitment to easing

Silver continues to drop and SPY and other major indices should follow for now

but for now, expect the usual post Fed statement 30 mins of crazy ivan reversals, swings and churn
 Quoting: Baltar


Bernake is not a stupid man, even though he plays one on TV, he knows good an well the next QE is their last...
 Quoting: Saddletramp


Could he have bought all of those glitchy sells this morning? Is that a QE stealth move?

Nothing to see here folks... We fixed it. Markets normal again.
Anonymous Coward
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08/01/2012 02:45 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Might be because the Federal Reserve is about to be closed...

MAJOR EVENT: Liens Filed Against All 12 Federal Reserve Banks
[link to divinecosmos.com]

... check out the liens themselves.
 Quoting: Anonymous Coward 21064305


Get that out of here...

David Wilcock IS NOT WELCOME. This is a thread dedicated to realism and actual trends.

There have been NO MASS ARRESTS, and as far as I can see...the only bankers going down are mid-level clerics who are being sacrificed for the greater evil.

Wilcock is a part of the PROBLEM. He's extorting money from the hopeless while selling false goods and bullshit solutions.

-That whole thing about him NEEDING 350 million hits to his website or "HE DIES?" That was the most rich form of acting YET.-


 Quoting: Serenity777

ita
wilcock is one of the biggest frauds out there in new age land

people, you really need to research someone before you support them
that's not just the rule for politicians
it's the rule for ANYONE giving you information
it should take very little research to see what wilcock is about
i'm tired of explaining it myself
one last time...

ascension in 2000
bank crisis over in 2008 (yes, he swore to that, his site was chock full of degrading self-righteous crap as to why he, the all knowing david, was right and everyone else was just "fearmongering")
disclosure dates
claims he's edgar cayce (bullsh*t on a stick as cayce was a HUMBLE man who didn't demand money for helping people and his institute has called wilcock out on his fraud)
money, a true lightworker would work off donations
sorry, that's true
the rest should be ignored
because a true lightworker knows that you will be taken care of and want for nothing if you are truly working for the good, it's the very basis of the loa which they claim to believe so if they're charging money they're FRAUDS
he loves obama

he is pure disinfo making $ off those who are recently awakened
he is not truth
he is a bottom feeder
Anonymous Coward
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08/01/2012 02:46 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
1 minzerohedge‏@zerohedge

Probably no sense in asking KCG what the closing market fixing is
Therion156
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08/01/2012 02:55 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Down goes Hilsenrath, down goes Hilsenrath, down goes Hilsenrath..... I knew he was jawboning and lying all the time..... even the WSJ lacks credibility!
Anonymous Coward
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08/01/2012 02:57 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
7.54 -2.79 (-27.01%)

o.O
Anonymous Coward
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08/01/2012 03:07 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
1 minzerohedge‏@zerohedge

Knight: It Was Us [link to www.securitiestechnologymonitor.com]
Anonymous Coward
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08/01/2012 03:09 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
1 minzerohedge‏@zerohedge

Knight: It Was Us [link to www.securitiestechnologymonitor.com]
 Quoting: Luisport


Market maker Knight Capital said it incorrectly sent orders for 150 symbols to the New York Stock Exchange at the outset of trading Wednesday, due to a “technical issue.”



Like what you see? Click here to sign up for Securities Technology Monitor's weekly newsletter to get the latest news and analysis that matters to the effective operation of capital markets.

By 2 p.m., the NYSE was reviewing trading in 147 NYSE stocks and 13 NYSE MKT stocks.

Trading in all the symbols, which included Citigroup, Ford Motor, Alcoa, Nokia and other mainstays of the Big Board, continued throughout the day. No trades had been broken as of 2:15 p.m.

If any erroneous trades get broken as a result of the routing, they become the responsibility of Knight Capital.

The trades are being reviewed by both Knight Capital and the New York Stock Exchange. That review likely will last days.

Knight, in a statement, said:

An initial review by Knight indicates that a technology issue occurred in the company’s market-making unit related to the routing of shares of approximately 150 stocks to the NYSE. Knight notified its market-making clients this morning to route listed orders away. The company’s OTC securities and trading in its other businesses are not affected. The company continues to review internally.

That Knight Capital should be the source of the latest malfunction on increasingly high-speed automated markets is something of a turnabout.

The market maker in July said it is taking a $35.4 million pre-tax charge against earnings in its second quarter, due to the delayed and confused opening of trading of Facebook shares. In that initial offering of stock on the Nasdaq Stock Market, many confirmations of transactions did not get relayed from its IPO Cross system for hours.

The charge cuts net income to $3.3 million in the quarter, down from $17.6 million.

“We are evaluating all legal rights and remedies in connection with the Facebook IPO,’’ said chairman and chief executive Thomas M. Joyce, after that technical drubbing.

Nasdaq, for its part, has set aside $62 million to compensate market makers and other firms in that incident. But UBS this week said it is seeking $357 million of payback.

The disruption of trading occurred on the same day that NYSE Euronext launched its Retail Liquidity Program, which offers price improvement to retail investors in off-exchange trading.

But that did not affect the unusually high volume of orders that came into the NYSe at the outset of trading Wednesday. Where the market usually handles trading of about 100 million shares at the open, that leaped to 300 million shares.

That leap is attributed to the mistaken routing of orders from Knight.

The flood of orders did not disrupt the NYSE’s market center, which operates out of a data center in Mahwah, N.J.

“Our systems operated as they should,’’ spokesman Rich Adamonis said.
Anonymous Coward
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08/01/2012 03:10 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Business Insider‏@businessinsider

TRADERS ARE GOING TO FLIP OUT: New York Stock Exchange To Cancel Trades Associated With 6 Stocks After Glitch [link to read.bi]
Anonymous Coward (OP)
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08/01/2012 03:34 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
1 minzerohedge‏@zerohedge

Probably no sense in asking KCG what the closing market fixing is
 Quoting: Luisport


KCG now down 28%, 7.35 low of day

$10 puts now +1800%, 2.80:

[link to img14.imageshack.us]

Some made plenty from KCG's sell off

but the market wants to go up, low volume, no fed, doesn't matter

green close
Anonymous Coward (OP)
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08/01/2012 03:37 PM
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Business Insider‏@businessinsider

TRADERS ARE GOING TO FLIP OUT: New York Stock Exchange To Cancel Trades Associated With 6 Stocks After Glitch [link to read.bi]
 Quoting: Luisport


KCG on the hook for those losses

I think of MCP, which gapped down about 12%. Many people have stop loss orders, which got triggered by that drop

The stock then rebounded higher. Those people just got sold out of a position they didn't necessarily want to sell - and at a big loss

Who is responsible?

I know thats a minor issue when there is so much trouble going on in the world, but to whoever just lost money, its a pretty big deal

Qu'elle mess!





GLP