My first instinct is to call Bullshit on the “market error”. But real or not, this day will wipe people out of the markets.
We bought a few of our holdings as they were plunging and stopped a few too. But the vast majority of my portfolio is way above my stop points and I want to buy–not sell–at the right price.
If this “error” is real then there must be new rules governiing HFT. If not, this will happen frequently…
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Pretty sure it was an error but the rumors are all over the place right now.
I grabbed a few SPY calls into the chasm but my platform locked up and the fills I did get were only so-so.
Taking advantage of this was more luck than skill.
The good part is we got 8% of the correction without the usual Chinese water torture.
The bad part is 1150 would have made a nice place for a trad-able bounce, oh well.