Cramer writes abt the COCO 'do over.' Traders Won't Forget Nasdaq's 'Do Over' http://www.thestreet.com/p/rmoney/jamesjcramer/10130639.html "I still can't believe this happened, and until we get a minute-by-minute analysis of who did what when, this issue is going to stay top-of-mind for everyone who hopes this is the Nasdaq's chance to take business from the NYSE." "I don't think the Nasdaq understands that this do-over isn't going away until it fesses up about what really happened here. I don't think anyone will want to do serious business with Archipelago again unless it finds a way to assure that it's a real business the Nasdaq must take seriously."
hedge fund guy on kudlow and cramer lost 500k on coco halt bust fiasco. guest..Seth Tobias of Circle T was screwed out of $10 profit on 50k shares at 43 or so...$500,000 profit gone...in a system that works on trust. Cramer described it as a "do over" for the big guy who made a mistake and whined to Naz. Tobias noted wild ride in CECO was honored in both recent days. Labranche of LAB was on...defending the specialist system. Kudlow said John Reed should be out touting the NYSE vs this Naz snafu. kash