This day will do more to destroy the confidence of the individual investor than even the 1987 crash. To the outside viewer, the markets are out of control and governed by criminals running supercomputers…
What happened today is criminal. If the word “error” is used then trades will be broken. It’ll be the biggest fuck up in the history of markets. And if it is Citi’s error, the taxpayer will eat it.
Whatever happend, HFT is clearly out of control.
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sigg!
If they bust the trades ill fuckin murder someone
Someone picked up a few thousand shares of IXPL for zero, another 100K for 2 cents.
Of course there’s going to be busted trades.
Cash is King.
who’s to say, Fat fingers, blown out hedge fund, high freq trading – contasion. Or plain old fraud. it was a wild day.
Sold my VXX @ 27 as prices were all over the road. Booked 12%
Scott “the Worrier” – For someone who doesn’t write much when the markets are in “smack down” mode, you sure did a great job today. Thanks.
today was no regular smack down day.
How many of you got fills in the hole? My system froze. Couldn’t get anything until AFTER the big $$$ was made.
I couldn’t get fills until after the close, even on highly liquid stuff like SPY. Broker is Fidelity. Could barely get an order screen to show up. ThinkorSwim was solid all day though.