Anyone get a piece of that buy program? It was just like what happened last year when that BSC trader added a few zero's to his program. I think they realized the mistake once the orders got to around "F" on the list because I only saw the action in stocks that start with A-E.
Quite impressive spike-ups! As I only trade the minis, and absolutely nothing out of the ordinary happened at 14:40, I wasn't even aware of that kind of movement.
Here's the link to when it happened last time: 10-02-02: "As a result of a clerical error at approximately 3:40 p.m. today, Bear Stearns entered orders to sell $4 billion worth of S&P securities. The orders should have been entered as $4 million. All but $622 million of the orders were cancelled prior to execution. The firm has advised the NYSE that the risk from the executed orders has been substantially hedged." http://www.elitetrader.com/vb/showthread.php?s=&threadid=9468&perpage=6&pagenumber=6 ----------- I figure the same thing happened today, just on a smaller scale. I'm suprised Briefing doesn't have anything on it.
How are you supposed to get a 'piece' of something like that? More likely it will get a piece of you. Also, volume was not all that intense on those names, so what to make of it?
Yep, stock goes nuts , no one has a clue as to what's going on, and there's supposedly a creative way to play this and make money in the long run. That's why I'm still a pauper, and youz guys have all the moolah.