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The NYSE is reviewing trades in 148 stocks (Excel spreadsheet) from this morning due to the...

The NYSE is reviewing trades in 148 stocks (Excel spreadsheet) from this morning due to the reported glitch at Knight Capital (KCG -20%). Not on the list are two utility ETFs - XLU and VPU - which also saw volatile price moves and spiking volume.
Comments (8)
  • rambler1
    , contributor
    Comments (395) | Send Message
    What's it sound like when quants making $150k a year + get kicked in their a**? Go back to the classrooms & teach not trade the markets.
    1 Aug 2012, 12:44 PM Reply Like
  • Larry Smith
    , contributor
    Comments (2481) | Send Message
    Sometimes I think we would be beter off bringing back all the market makers on to the floor of the NYSE. Trades may have been a little slower, but there weren't any fat fingers.
    1 Aug 2012, 12:53 PM Reply Like
  • rambler1
    , contributor
    Comments (395) | Send Message
    Absolutely between the decimalization and computerized trading nobody has any interest in the markets anymore. Even if you are a "retail investor" I think you'd rather have a chance to make or lose money in a trade because of a spread rather than buying/selling 1000 IBM with a penny spread or $10. It makes for very boring and agonizing trading.
    1 Aug 2012, 01:02 PM Reply Like
  • Director one
    , contributor
    Comments (59) | Send Message
    AS a former stock exchange member and director this is the new para-dyne BS. was a total bust and many good people lost their careers.....Its the big scam artists lehman, Bears sterns,and Goldman who came up with this ETN,ETF, CMO"s ....etc.....and forget not the SEC in their infinite wisdom of penny spreads.......Alas government dictating how to run an industry......into the ground. Wall street rewarded performance and the SEC should be walking up backwards to get their checks....
    1 Aug 2012, 01:35 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
    Its not a computer trade that is the problem...its these guys that have super computers than issue millions of sell or buy orders for only a millisecond to move the markets.....that is what is crap.....but to use a computer to put in Bob´s order for 1000 shares is fine with me....but the Tribe can´t make billions off of they had to find a way to cheat...
    1 Aug 2012, 01:52 PM Reply Like
  • Hendershott
    , contributor
    Comments (1498) | Send Message
    Nice timing. Perfectly underscores Bill Goss's death of the cult of equities comment. Who wants to "invest" in markets that respond to forces that are incomprehensible (even to the algo creators), not fundamentally related to macro or micro economics and cannot be either predicted or fixed?
    1 Aug 2012, 03:37 PM Reply Like
  • Okatie Jack
    , contributor
    Comments (92) | Send Message
    I do not see or hear many people who support this HFT. Business so why do we have it? It is truly killing the average retail investor.
    1 Aug 2012, 04:26 PM Reply Like
  • Hendershott
    , contributor
    Comments (1498) | Send Message
    The exchanges support it and so does the SEC. It's at least 75% of the volume. It's the Willie Sutton principle; because that's where the money is." Until it self destructs.
    1 Aug 2012, 04:48 PM Reply Like
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