Can someone explain this rational?

Discussion in 'Stocks' started by KeithOmalley, Sep 20, 2008.

  1. So im trading NTRS at 3:58 on friday. i see a big imbalance to buy at the close.
    I buy a few thousand shares at $69 and put a MOC order at the close. I get filled at $76.55 to sell, great trade. But wait, this is the message i get from NASDAQ

    NYSE Arca// In conjunction with NASDAQ MarketWatch, NYSE Arca Market Management has ruled to cancel all trades in symbol: "NTRS"- Northern Trust Corp between 15:58:00 and 16:00:00 ET today at a price of $69.71and below.
    This ruling is not eligible for appeal.

    So my $76.55 stands, but my buys at $69 break? i just dont understand the thinking by NAsdaq.;ohlcvalues=0;logscale=on;source=undefined
  2. solyaris


    probably it was a error (fat finger), someone sold 1000000000 instead of 10000 or something so they cancelled all transactions due to the error.