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18:03:20 ET NASDAQ

BX Pursuant to rule 11890(B), NASDAQ, on its own motion, will cancel all trades executed between 14:40:00 and 15:00:00 greater than or less than 60% away from the consolidated last print in that security at 14:40:00 or immediately prior. This decision cannot be appealed. NASDAQ has coordinated this decision with all other UTP Exchanges. NASDAQ will be canceling trades on the participant’s behalf. The stocks affected and the break points will be disseminated shortly.

Bloomberg: http://www.bloomberg.com/apps/news?pid=20601087&sid=ai9CehsZxjqA&pos=1

Apparently someone made a really big mistake today.

May 6 (Bloomberg) -- Nasdaq OMX Group Inc. said it’s investigating potentially erroneous trades involving multiple securities between 2:40 p.m. and 3 p.m. New York time, when the U.S. stock market tumbled.

The Dow Jones Industrial Average plunged almost 1,000 points today before paring its decline and ended down 347.80 points, or 3.2 percent, at 10,520.32. About $700 billion of U.S. stock-market value was erased in less than 10 minutes, data compiled by Bloomberg show.

Read More: http://www.businessweek.com/news/2010-05-06/nasdaq-says-investigating-erroneous-trades-after-market-plunge.html

According to multiple sources, a trader entered a "b" for billion instead of an "m" for million in a trade possibly involving Procter & Gamble [PG 60.75 -1.41 (-2.27%) ], a component in the Dow.

http://www.cnbc.com/id/36999483

Bruce

2016 Cadillac ATS-V gray/black

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....Apparently someone made a really big mistake today.

When this "someone" is identified, he/she needs to surrender their trading license, be summarily fired and disqualified from seeking employment in the financial sector for life. Flipping hamburgers would be a risky occupation for this individual.

The difference between "b" and "m' is not a typo.

Jim

Drive your car.

Use your cell phone.

CHOOSE ONE !

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If you can't enter 'M' instead of 'B' (they take different fingers on a standard keyboard), you would NEVER survive at most hamburger joints. Fast food jobs have a LOT more stress than I want.

Bruce

2016 Cadillac ATS-V gray/black

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I walked past a TV at work this afternoon at 2:42pm just as the meat grinder revved up and turbo boost kicked in. I thought I was witnessing history in the making. I wasn't less than 20 feet from that screen for the next 15 minutes or so.

I've been in a largely cash position for nearly two months now, so I was able to enjoy the spectacle. Maybe I did witness history; many I know will be speaking of this for some time. :D

I guess those of us who have been expecting a correction/crash will have to wait. For now, the Germans once again have my undivided attention.

Regards,

Warren

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There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises

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Makes me glad I have my money in a coffee can buried in the back yard and not in the stock market.

:D :D :D

Metal detectors are becoming cheaper and more accurate every day. When did you say you are going on one of your little trips again . . . . ? :D :D :D

Regards,

Warren

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There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises

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