The canceled trades situation is extremely disturbing to me.
At the end of day I sell those shares for $30 apiece. Great news, now I think that I am in cash and I am worth $3,000,000.
Next day my "buy" trade is canceled and suddenly, I am short 100,000 shares of that Accenture. If it goes up, say $5, I face a ruinous
500,000 USD loss, potentially facing complete financial destruction for NO fault of my own. My market actions, of completely benign and beneficial nature, now expose me to loss of EVERYTHING.This seems to be totally shocking and very disturbing to me.
I have zero sympathy for anyone who places a "stop loss" order, which is an order to SELL AT ANY PRICE if the market goes down. Those people got exactly what they ordered. Why those investors, whose stop loss orders have a destabilizing effect, should be protected, and honest buyers should be exposed to financial destruction?
I am extremely uncomfortable with what happened. The wrong kind of people got punished.
One reason why I am so disturbed is that I never place stop loss orders, and I can see myself as a buyer of those stocks if I did not happen to be busy with something else at the moment. Just one monute of bad luck could, potentially, wipe me out in a situation where no loss should have occurred.
i