The NYSE just came out with a different excuse. I'm telling ya, it's the hybrid system, imo. The laid off specialists are laughing their heads off.
Ummmmmmmm my 100% automated system made over 4G's today, thank you very much It picked up the free money on the floor all over the place. Puking? Have no idea what you are talking about. Maybe all those human traders who were puking money everywhere from the pressure as my trading robots picked up the cash, emotionless, and completely in control LOL
CNBC is catching on. Erin is saying it's due to the hybrid system. What's your opinion? That's why I started this thread? My opinion is the hybrid is garbage. The NASDAQ should take advantage of this & attempt to grab some NYSE companies over to their system.
Hey StreamlineTrade, you are spot-on about China my friend. Thanks for filling us in about what started the whole thing - mabye some of us didn't know it happened. But that wasn't the question bro
Agreed 100% There was a time when the DJIA was "frozen" for the longest time at 2:05PM EST at -217 points. Meanwhile, the S&P futures began a precipitous drop ( from the 1422 area ), with the very first plunge being 6 handles in about 5 minutes. This happened again at 2:25PM EST. yet, the DJIA quote was still "stuck". By the time they could get the DJIA quotes "updated", the S&P cash index was already trading down at 1389. I don't believe the Hybrid system was at fault here. The volume was 4 billion on the NYSE, and still takes a "human" element to execute.
There were prints all over the place. Like finding money on the ground, again, and again, and again. An automated system would have killed if it was enveloping the inside quote. Check EWH for a good example.
Swiftness of Dow Drop Due to Computers http://biz.yahoo.com/ap/070227/wall_street_what_happened.html?.v=5 EDIT: http://www.bloomberg.com/apps/news?pid=20601087&sid=aEiH91tGSnh0&refer=home