It's amazing how many investors believe the "flash crash" was a actually a flash crash (meaning HFT boxes/programs caused this). Am I the only one who read the SEC filings on this?
It all started due to one person making one big mistake trade! It never had anything to do with a "flash crash"
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Posted:2011-09-20 06:44:14
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I agree, however that "mistake trade" caused a glitch in automated trading systems which started rapidly selling positions triggering many algo systems all the way down the food chain. I believe it was said 22 billion was lost that day by investors.
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Posted:2012-01-23 01:21:54
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I love how the regulators came in and said ohh... we now put "circuit breakers" in place from this ever happening again. Oh trust me once those circuits lift all these auto systems will still do their thing, that's how their programmed.
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