Presenting Today's 21 (At Least) Mini Flash Crashes
Think you were the only one who could not get within 100 feet of any liquidity in today's market which bounced up and down by 5 points on any chatic whim? Think again. The day after the market saw 844 stocks trigger short-sale restrictions (meaning they dropped more than 10% in one day), not even the robots were able to pull a rabbit out of a hat and at least 21 stocks ended up flash crashing for a millisecond or much longer during today's trading session. Below are the charts of the 21 identified victims of overzealous ask-side algos, as usual courtesy of Nanex.
Random images/stocks exhibiting strange behavior on 08/05/2011:
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