Real-time traders: what just happened?
Man, traders are itchy on INTC today...
Around 10:03, a bunch of below-market trades went off, or appeared to have gone off. (Could have been late reports from earlier this morning, but they weren't marked as such, at least on my quotes. Doesn't make much sense, as they were about a point below the bid, and of moderate volume. There were no corresponding below-market trades on INTCW.
Could these have been Instinet or other third-market trades?
How common is it to see below-market trades like this on INTC? Usually when I see this, it is a data-entry error, and you generally don't see this kind of mini-panic.
The lemmings then jumped off the cliff, with quite a number of trades at the REAL bid, followed by sustained selling and downticks.
Now there's a ferocious recovery. Go figure.
How common is this in INTC? Usually when I have seen this, it has been data entry errors, and there generally isn't the kind of mini-panic we just saw.
(Er, so much for the "ferocious" recovery!) |
