Lessons From Today's Flash Crash In Verifone
Well, none really, suffice to say that we have just had approximately the 20th flash crash in the past 2 months (all in rehearsal for when Apple goes bidless). Don't worry though - the SEC is all over it. And, after all this is to be expected when trading in a computerized, roboticized, broken market. But a point to consider: the NYSE decided to cancel all trades below $27.44, so to the unlucky human who bought at $27.43 tough luck. Of course, robotic readers who sold at that price: congratulations, the NYSE and SEC has your robotic back. We are now eagerly awaiting Monday's ongoing flash crashes.
And the trades that were lucky enough to be cancelled (if you were an algo seller), and unlucky enough if you were a buyer. Everyone else is highlighted in red.