Thursday, May 6, 2010

"Ghost Trades" NYSE steps away!

The NYSE said it stepped away from bids for 90 seconds and the trades went to other exchanges to get filled, thus printing "Ghost Trades" with little or no volume or bids at other exchanges. Are you kidding me?! They are supposed to be specialists and working the book- you can't just "step away"! This is ridiculous! What is wrong with our system today? The confidence in our exchanges just took another big hit today. A big score for the "trading gamers" and "black box flash traders" Who is in control? The NYSE and NASDAQ were a joke today. A real shame!

P.S. The Down 1000 points is a misprint. Thanks NYSE and NASDAQ! The "Ghosts" got you again.