There are plenty of ETFs on that list, not cool for anyone who put in a trade in one of these stocks/etfs this afternoon only to have any profits taken away.
Press Release The NASDAQ Stock Market Names Stocks With Cancelled TradesThe NASDAQ Stock Market Had No Technology or System Issues Associated With Today's Trading Between 2:00 and 3:00 p.m. Eastern Time NEW YORK, May 6, 2010 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), the world's largest exchange company, announced that The NASDAQ Stock Market had no technology or system issues associated with the trading that occurred between 2:00 and 3:00 p.m. ET today. The NASDAQ Stock Market operated continuously and its close process ran successfully. In addition, there is no indication at this time that a NASDAQ market participant experienced a technological failure in connection with this event. _NASDAQ has coordinated a process_among U.S. Exchanges and therefore, pursuant to rule 11890(b), NASDAQ, on its own motion, will cancel all trades executed between 14:40:00 and 15:00:00 greater than or less than 60% away from the consolidated last print in that security at 14:40:00 or immediately prior. _This decision cannot be appealed. _NASDAQ has coordinated this decision with all other UTP Exchanges. _NASDAQ will be canceling trades on the participant's behalf. The stocks affected and the break points are posted on the following website: http://media.globenewswire.com/cache/6948/file/8211.htm About NASDAQ OMX The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with more than 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. _NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com. *Please follow NASDAQ OMX on Facebook (http://www.facebook.com/pages/NASDAQ-OMX/108167527653) and Twitter (http://www.twitter.com/nasdaqomx). Cautionary Note Regarding Forward-Looking Statements The matters described herein may contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX's products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to, factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements. Neither The NASDAQ OMX Group, Inc., nor any of its affiliates (collectively "NASDAQ OMX") makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Investors should undertake their own due diligence and carefully evaluate companies before investing. NDAQG
Imagine getting stopped out on those market index ETFs down 59%, and no trade bust. That's gotta hurt. An equivalent loss to the entire 2007-2009 bear market, in about 30 mins.
I was looking at the charts on some of those thinly traded ETFS and thinking to myself that one computer screwed over another computer that was trying to short sell -
What if you bought some stock at a firesale price, then sold it a few minutes later at a normal market price. They said they are busting the first trade, but what of the second? You would not have made the sale if you weren't able to make the buy in the first place. Do they bust the second trade as well? Or do you find yourself unwillingly short? What of the guy who bought the stock you sold?
Yep. I've gotten screwed that route numerous times....so the ones I bought yesterday dirt cheap during that time, I didn't sell! Fvck yeah. Last night I miscalculated...I took 40% not 60% and ones I thought would be cancelled weren't! I bought PEY@4.70, WIN@6.36, and WSII at 5.46. It's a beautiful world today. I did have some PEY at a lower price busted, as well as a ton of BDV, but I think I can handle it, lol.