Now Billy, we asked you to BUY 100 -- not SELL 10,000. Now since we're a big firm, we can get it busted if it goes against us. However it already looks like the market took our unintentional bluff and we're up a few million. You could get fired for that in the future so try to be a little more careful. Bellamy Duke -- "Yeah you might screw the little guy." Both Dukes -- (Laughing)
Maybe if the exchanges adopted a policy that these erroneous orders would stand and forced the wire houses to eat them, they wouldn't happen so frequently. At least I know if I make a mistake and hit the wrong key, I can get it corrected. Yeah right.
To ACE traders Thu Jul 3 12:49:24 2003 EST We have been contacted by A/C/E regarding a number of out of range executions in the YM SEP 03 and the YM DEC 03 futures contracts A/C/E compliance department has stated that all executed trades in the YM SEP 03 which executed at 9017 and below during the time beginning 10:38:00 EST through 10:40:04 EST, has been ruled as erroneous and has been busted. Additionally, all trades in the YM DEC 03 contract which executed at 8985 and below during the time beginning 10:38:00 EST through 10:40:04 EST, has been ruled as erroneous and has been busted. These erroneous executions will be manually removed from your account today IB Customer Service
Do you think stocks bought at the low of the YM spike down will be busted. I would think that is less likely to happen than the Future trades since the specialists were probably taking the other side of the imbalances which mean they won't take $ from themselves? Any thoghts?