Over 37 million shares of Cisco traded on July 29. Only 41,100 shares traded on the Amex, and there were six clearly bad trades of 100 shares each. At 10:41:33, Cisco jumped to $26 from $23.37 on 100 shares and no news, six other orders for 100 shares each crossed on NYSE Amex at prices exceeding $24. Hundreds of other trades done the same time but not on the Amex all occurred at around 23.37 or 23.38. The shocking thing is that the NYSE decided not to cancel these Amex trades, so some small retail buyers who used market orders got royally screwed. Until this problem is worked out,the SEc should not allow NASDAQ issues to execute on NYSE Amex.
How does the buyer or seller trade them? Both using bad orders at same time? You must have both buyer and seller at wrong price and there is no other better price at that time to have those trades done with such wide range to the norm at that time.
The buyers used a market order and were screwed. Who would think a 100 share market buy of CSCO would move the price over two points? The system is broken.
doubt if any market order by some retail turkey was involved. this is all dark pool, hft, computer scam stuff