How do the "cancelled trades" affect me?


I understand all-electronic NYSE Arca platform that deviated over 60
percent from their last point at 2:40 p.m. between 2:40 and 3 p.m.
How does that affect me? If say one or two of my mutual funds hit the sell
point on some automated software because of the freefall am I going to
recoup some losses from yesterday? Is anyone recouping some losses? Will
funds restate their ending prices or will this not affect ending prices.
The short question is -- What does it affect?
Thanks,
JW
Reply to
JW
[snip]
Last I've heard is that trades falling within the glitch period (presumably those noticeably affected, or those known to have been causal) will be busted (reversed). The exchanges and the SEC are studying the tapes; perhaps when or if a cause is found, the situation for trades executed will be further clarified. Offhand, I don't know either the share volume of equities, the number of trades, or that same data for each of all the various indices and instruments. Sure do feel sorry for the guys sorting this mess out. (I had no orders in - I was fixing my lawn and missed the excitement. I'm still upset about that.)
Reply to
dapperdobbs
[snip]
News on Apple (AAPL) has the following:
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`9 The Nasdaq announced cancellation of all trades made between 2:40 p.m. and 3 p.m. Eastern that were "greater than or less than 60% away from the consolidated last print in that security at (2:40 p.m.) or immediately prior." No technology or system issues were associated with the irregular trading, Nasdaq said, adding that cancellations affected numerous stocks including Accenture PLC /quotes/comstock/13*!acn/quotes/nls/acn (ACN 40.32, -0.77, -1.87%) and Boston Beer Co. /quotes/comstock/13*! sam/quotes/nls/sam (SAM 55.05, -0.77, -1.38%) among others. Reports said the NYSE would also cancel some trades.
Reply to
dapperdobbs
It looks to me like a major operation to hide the fact that the market is overbought and that traders are ready to dump stocks in a heartbeat. When trades can be airbrushed out of existence at whim, it gives market manipulation a new meaning.
Reply to
Augustine
I didn't have any losses. Wednesday overnight I put in a limit order for VBR with some extra cash in my Roth. I selected a price about buck under the close. That hit on Thursday of course. As far as I know it will probably stand.
Brian
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Default User

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