Hundreds Of Thousands Of Trades Canceled As LQD Flash Crash Confirms SEC Are A Bunch Of Corrupt Bumbling Buffoons
There are literally hundreds of thousands of trades that had to be DKed this morning at the open of LQD after who knows how many HFT algos went haywire and traded the ETF down from its closing price of $112 down to $102. Of course, all these broken HFT algo induced trades are being cancelled, as the idiots at the SEC look for a way to blame all this on Waddell and Reed once again. Next up: Barack Obama prepares to blame Waddell and Reed for the second Great Depression. Someone please forward the chart below of all the DKed trades in LQD and ask her to point out just which was Waddell and Reed's trade that set off the avalanche. In the meantime, we look for the next Waddell and Reed induced flash crash. Luckily, the porn-fetish morons have demonstrated once again they have a "very deep understanding" of if not the markets, then at least how to use taxpayer-funded credit cards to pay for web porn, and that it will always be Waddell and Reed who is blamed for every single daily, then hourly, then minutely flash crash from now to infinity.