How in this day and age can a major trading market be halted for 3 hours ? As you ponder that question think back to The Flash Crash on May 6 2010.On that date the Market plunged 998.5 points after a 600 point drop in 5 minutes.That was blamed on a Waddell & Reed Mutual Fund trade of 75,000 E-mini S&P 500 Futures contracts that executed in 20 minutes instead of the intended 5 hours.Was a similar trade spotted today resulting in the Market Halt? Maybe an Apple -AAPL - sell order that tripped the Bells and Whistles alarm alerting Market officials.Those possibilities along with cyber attacks,High Frequency Trading mistakes,or system glitches have been discussed through out the day.Almost everyone who trades has a NASDAQ stock in his portfolio and felt some level of dread as the Halt continued.By living through the Flash Crash of 2010,I was better prepared for Today's Event not selling wildly as the market re-opened.Will these occurrences be more frequent in the future or will safeguards be erected to stop these unpleasant annoyances? A three hour wait to trade or a thousand point drop should not be the choices in this day and age. Kenneth J. Parish KJP Enterprises
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.