And you guys (some guys) wanna do away with the NYSE specialist system??? I will take the NYSE over the nasdaq any day. M
Hmm, I guess if you ever make a bad mistake and put in a wrong price in the system and it doesn't work in your favor, you should just call nasdaq to break the trades. Screw everyone else. That's what they are basically saying. They have just set a precedence.
I was short in COCO before the great plunge. When it finally bottomed out and started to recover, my software automatically covered and reversed position. I got a nice ride back up, made my numbers for the day, closed all my open positions. I saw "Stocks in Play" news on COCO on briefing.com , immediately checked my account and the trading platform from my broker said I had no open positions and showed the same profit for the day. I assumed my trades stood. 3 hours later, my broker called and said I was now long in COCO (and under water) and I would have to re-boot to see it reflected in my software. I guess I should just be grateful they called before they went home for the weekend.
Somebody typed in the wrong symbol and sold a couple million shares by accident?? I guess we have monkeys trading high volume.. It seemed like 'free money' like some of you guys said for a while with that whole ARCA deal while the halt.. but it's totally unfair that the early longs were cancelled and the sell orders were made into shorts and a lot of you guys lost $.. tough deal.. we all have to be so careful to begin with and then garbage like that happens.. ::thumbdown:: NASDAQ -Bartosz
What amazises me is that NASDAQ was so quick to open the COCO back up beofre they told anyone what they where doing. How could they open the stock, then 2 hours later say certin trades are broken. Why didnt they just wait to open it back up . Was the company presuring them?