Winds of Change.NET: Liberty. Discovery. Humanity. Victory.

This is a Printer-Friendly version of a single Winds of Change.NET article

On Market Instability


Check this out from 'The Big Picture.'
But what about the final thrust lower - the seeming air pocket? We know, thanks to our friends at CNBC who were fixated on this particular stock, that Proctor & Gamble tumbled by over -35% in the span of about 5 minutes. It's impossible to tell by looking at a chart of the stock, but when you look at the individual prints you can see that this was not a case in which two or three "erroneous" prints marked the tape down to $39 before the stock sprang back to $60. I've got 28 pages in front of me of P&G prints that occurred between $39 and $50 per share and between 2:46 p.m. and 2:51 p.m. At 36 prints per page, that means P&G traded over one thousand times at those "crazy" and "surely erroneous" levels. I'm sorry, but that isn't an error, THAT IS WHAT WE LIKE TO CALL TRADING.
-

All rights reserved. This article can be found on the Internet at:

http://www.windsofchange.net/archives/on_market_instability.html

Persons wishing to contact the author of this article for reprints etc. should put a request in the Comments section, or send an email to "joe", over here @windsofchange.net.