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Five Hours Later NASDARK Speaks: Twas But A "Glitch"

Tyler Durden's picture




 

Still stunned by today's epic market failure? The NASDARK finally chimes in, but don't expect to get much actual information. Via Bloomberg:

  • NASDAQ SAYS WILL WORK WITH OTHER EXCHANGES ON `GLITCH'
  • NASDAQ STATEMENT SAYS 'TECHNICAL ISSUES RESOLVED'
  • NASDAQ SAYS TECHNICAL ISSUES WERE RESOLVED IN FIRST 3O MINUTES
  • NASDAQ SAYS IT COORDINATED WITH OTHER EXCHANGES FOR REOPENING
  • NASDAQ SAYS THAT PRICE QUOTES WEREN'T BEING DISSEMINATED BY SIP
  • NASDAQ SAYS BALANCE OF TRADING WAS DAY WAS FINISHED IN NORMAL COURSE
  • NASDAQ SAYS IT SUPPORTS ANY STEPS NEEDED TO ENHANCE PLATFORM

Like we said, no actual information. No mention of how the AAPL plunge below mysteriously set off the SIP choke leading to the wholesale trading halt; no mention of why AAPL traded after opening with a tractor beam just above $500; no mention of who may have been in for a rude awakening had the market not halted and had the AAPL fall continued, etc.

Because like every other time a computer goes haywire, which lately is all the time, it was merely a "glitch" and so you must acquit, because no humans were involved in the making of this mockery of what was once an equity market.

 

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