Comments on: May 6, 2010 in pictures http://divestor.com/2010/05/06/may-6-2010-in-pictures/ Canadian Finance, Economics and Securities Analysis Thu, 09 Feb 2012 16:39:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Sacha Peter http://divestor.com/2010/05/06/may-6-2010-in-pictures/comment-page-1/#comment-3704 Sacha Peter Fri, 07 May 2010 17:18:15 +0000 http://divestor.com/?p=3739#comment-3704 Looks like if your trade went 60% below market then it will be busted. Man, I wonder who had limit buys at 50% below market that day, they must have made a fortune off of whatever institution was program selling. Looks like if your trade went 60% below market then it will be busted. Man, I wonder who had limit buys at 50% below market that day, they must have made a fortune off of whatever institution was program selling.

]]> By: Nelson http://divestor.com/2010/05/06/may-6-2010-in-pictures/comment-page-1/#comment-3699 Nelson Fri, 07 May 2010 05:08:46 +0000 http://divestor.com/?p=3739#comment-3699 Actually, they've been sending out notices that they're going to be busting a bunch of trades after the volatility started, so it's possible. It definitely applies to the Accenture trade. Actually, they’ve been sending out notices that they’re going to be busting a bunch of trades after the volatility started, so it’s possible. It definitely applies to the Accenture trade.

]]> By: Sacha Peter http://divestor.com/2010/05/06/may-6-2010-in-pictures/comment-page-1/#comment-3697 Sacha Peter Fri, 07 May 2010 03:37:36 +0000 http://divestor.com/?p=3739#comment-3697 At least you weren't the guy selling Accenture at 1 penny. I doubt the NYSE will be busting up any trades despite the fact that all of this computer program trading is causing the volatility when they are all synchronized to go in the same direction. At least you weren’t the guy selling Accenture at 1 penny.

I doubt the NYSE will be busting up any trades despite the fact that all of this computer program trading is causing the volatility when they are all synchronized to go in the same direction.

]]> By: Nelson http://divestor.com/2010/05/06/may-6-2010-in-pictures/comment-page-1/#comment-3693 Nelson Fri, 07 May 2010 02:11:34 +0000 http://divestor.com/?p=3739#comment-3693 I got caught right in the maelstrom -- I was watching the quotes and humming along, and then suddenly P&G, which I held a small amount of, went absolutely haywire. I got out ASAP, losing a significant amount of paper gains, only to discover the mess with the exchanges. I'm really hoping my trade qualifies to be busted, as I believe it should. When the quotes were ranging from 25% down to 9% down to 21% down in the span of a second or two, there's something really wrong. In retrospect, I'm not sure what the proper action was, but I've seen that kind of messy action happening in markets that are really going to fall so it's a bit of a coin flip on what the right response is. I got caught right in the maelstrom — I was watching the quotes and humming along, and then suddenly P&G, which I held a small amount of, went absolutely haywire. I got out ASAP, losing a significant amount of paper gains, only to discover the mess with the exchanges. I’m really hoping my trade qualifies to be busted, as I believe it should. When the quotes were ranging from 25% down to 9% down to 21% down in the span of a second or two, there’s something really wrong. In retrospect, I’m not sure what the proper action was, but I’ve seen that kind of messy action happening in markets that are really going to fall so it’s a bit of a coin flip on what the right response is.

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