JimDiGritz Posted August 25, 2010 Share Posted August 25, 2010 http://www.telegraph.co.uk/finance/markets/7963202/Circuit-breakers-kick-in-to-halt-strange-trades-on-London-Stock-Exchange.html The circuit breakers, designed to prevent excessive volatility, kicked in at about 2pm, suspending trading in shares in BT Group, Hays, Next, Northumbrian Water and United Utilities after each stock moved more than 5pc from their opening price. Basically another case of a traders fat fingers meant that billions is wiped off the FTSE accidentally. HF trading algorithms may also be to blame... this is getting more absurd by the minute. Quote Link to comment Share on other sites More sharing options...
Minos Posted August 25, 2010 Share Posted August 25, 2010 http://www.telegraph.co.uk/finance/markets/7963202/Circuit-breakers-kick-in-to-halt-strange-trades-on-London-Stock-Exchange.html Basically another case of a traders fat fingers meant that billions is wiped off the FTSE accidentally. HF trading algorithms may also be to blame... this is getting more absurd by the minute. So basically, if you want to dump a share because you realise it's a donkey you aren't allowed to if everyone else tries at the same time. You've got to love the free market. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 25, 2010 Share Posted August 25, 2010 Only young girls under the age of 12 should be allowed to sell and buy on the FTSE - small fingers - just like the cotton mills of the 1800s. Quote Link to comment Share on other sites More sharing options...
JimDiGritz Posted August 25, 2010 Author Share Posted August 25, 2010 Only young girls under the age of 12 should be allowed to sell and buy on the FTSE - small fingers - just like the cotton mills of the 1800s. Haha, exaclty maybe Goldman Sachs could force small children to climb into the bowels of their supercomputers and dislodge spurious trades made by the HF trading software.... Quote Link to comment Share on other sites More sharing options...
DisQ Posted August 25, 2010 Share Posted August 25, 2010 they'll soon run out of excuses crash cometh. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted August 25, 2010 Share Posted August 25, 2010 Only young girls under the age of 12 should be allowed to sell and buy on the FTSE - small fingers - just like the cotton mills of the 1800s. Not entirely convinced any human fingers are involved at all these days TMP. Quote Link to comment Share on other sites More sharing options...
Minos Posted August 25, 2010 Share Posted August 25, 2010 they'll soon run out of excuses crash cometh. They can block every exit. I'm afraid most will perish in the burning building. Quote Link to comment Share on other sites More sharing options...
Dave Spart Posted August 25, 2010 Share Posted August 25, 2010 (edited) but it's okay, the Undo button came to the rescue To think that Ctrl+Z could the basis for an entire futuristic religion. Edited August 25, 2010 by Dave Spart Quote Link to comment Share on other sites More sharing options...
davidcameron Posted August 25, 2010 Share Posted August 25, 2010 Not to let the facts get in the way of a good story (again), some of the prices spiked up rather than down but, hey that's not so interesting. Also, according to the LSE, it wasn't a fat finger, but a more deliberate trading strategy by the trader in question. This site should be twinned with the Express for accuracy. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted August 25, 2010 Share Posted August 25, 2010 Not to let the facts get in the way of a good story (again), some of the prices spiked up rather than down but, hey that's not so interesting. Also, according to the LSE, it wasn't a fat finger, but a more deliberate trading strategy by the trader in question. This site should be twinned with the Express for accuracy. Triggering the circuit breakers is a trading strategy now? Its getting like that "kobayashi maru" simulation in Star Trek where Captain Kirk reprogrames the simulation. "Cheats" in other words. Well that figures. Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted August 25, 2010 Share Posted August 25, 2010 Why do we never hear of the price being bid up wrongly? Is there a circuit breaker if they go up more than 5%? Is this another case of the banksters being very happy for joe public to overpay for shares, but good god, dont let him underpay? Quote Link to comment Share on other sites More sharing options...
Traktion Posted August 25, 2010 Share Posted August 25, 2010 Not to let the facts get in the way of a good story (again), some of the prices spiked up rather than down but, hey that's not so interesting. Also, according to the LSE, it wasn't a fat finger, but a more deliberate trading strategy by the trader in question. This site should be twinned with the Express for accuracy. Shock! Fat finger trade wasn't a fat finger trade! The question is: why are even 'normal' trades being suspected as a potential crisis? Quote Link to comment Share on other sites More sharing options...
davidcameron Posted August 25, 2010 Share Posted August 25, 2010 Shock! Fat finger trade wasn't a fat finger trade! The question is: why are even 'normal' trades being suspected as a potential crisis? Lazy journalists and even lazier posters. Quote Link to comment Share on other sites More sharing options...
SarahBell Posted August 25, 2010 Share Posted August 25, 2010 http://www.youmail.com/community/greetingView.do?id=1020 Quote Link to comment Share on other sites More sharing options...
JimDiGritz Posted August 25, 2010 Author Share Posted August 25, 2010 Lazy journalists and even lazier posters. Keep talking. I always yawn when I'm interested. Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted August 25, 2010 Share Posted August 25, 2010 The more they overthink the plumbing, the easier it is to stop up the drain Quote Link to comment Share on other sites More sharing options...
Dorkins Posted August 25, 2010 Share Posted August 25, 2010 Not to let the facts get in the way of a good story (again), some of the prices spiked up rather than down but, hey that's not so interesting. Also, according to the LSE, it wasn't a fat finger, but a more deliberate trading strategy by the trader in question. This site should be twinned with the Express for accuracy. Every time you come on "this site" you badmouth it and its posters... ...and yet you keep coming back. Quote Link to comment Share on other sites More sharing options...
headrow Posted August 25, 2010 Share Posted August 25, 2010 Why do we never hear of the price being bid up wrongly? Is there a circuit breaker if they go up more than 5%? Is this another case of the banksters being very happy for joe public to overpay for shares, but good god, dont let him underpay? United Utilities did trade up . Quote Link to comment Share on other sites More sharing options...
davidcameron Posted August 25, 2010 Share Posted August 25, 2010 Every time you come on "this site" you badmouth it and its posters... ...and yet you keep coming back. True. I feel it's my duty to point out factual inaccuracy so others don't make bad decisions. Also, the occasional interesting link (not to an illiterate rant on Youtube) or nugget of informed opinion just about makes up for the dross. Quote Link to comment Share on other sites More sharing options...
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