Does anyone know where to find error/bad trades that go off on the exchanges? (ie, a 50k share accidental buy that moves up a stock $4?) I thought it used to be in market activity for nasdaqtrader.com thx
Likely only on small and micro cap stocks. Usually floor traders and market makers are the only ones that profit from these mistakes, as they are so sudden. Dont waste your time, don't focus on things that seldom happen.
I'm still curious what happened to a handful of stocks like KELYA yesterday around 8:30 ($22-->$37). They traded (not bad ticks) but am not aware of any busts (mine didn't get busted.) http://finance.yahoo.com/q/bc?s=KELYA&t=5d http://finance.yahoo.com/q/bc?s=MLHR&t=5d Someone must have been leaning on the keyboard wrong again.
It happened in 20 stocks or so. They busted a lot of them. The only one I was in was VARI short from 70.86, which stood. They broke anything ~10% outside where the market was trading. Even with the broken trades, whoever that was lost a ton of money.
i know a lot of traders that made a killing on those "mistakes" yesterday and they are neither mm's or floor traders
I lost money. I 'blew my wad' too early and shorted to much too soon, and was happy to buy them back $.50 higher. I didn't realize it soon enough it they were obvious trade mistakes and was happening in quite a few stocks. I have a general rule that when I am losing a ton of money, I try to get out, if I have a chance, at a small loss instead of waiting until I gain (because usually I'm thankful I did.) It was one of those situations where discipline makes you regret having it, but shorting is a much harder and riskier position to stomach when it becomes a huge loser (for me that is.)