Tuesday, February 4, 2014
NYA NYSE Composite Daily Chart Computer Glitch
The chart shows the drastic collapse in the NYA from 9800-ish to 4, yes, 4. Keystone printed quotes from other sources that call out the fopa. Today's low is 4. Obviously the number is incorrect and resulted from some type of computer glitch, high frequency trading snafu or program or algorithm gone haywire. The second chart shows the corrected chart once everything was swept under the rug.
The more interesting aspect is how all this behavior is treated as common place nowadays and accepted. Folks have far lower standards than they used to. The computer glitches come and go without anyone voicing concern. The updated chart removes the print and the other quotes on the Internet were likely expunged by the clean-up crew as well. That is why it is nice to have hard copies of the incidents. Perhaps it is time to update Keystone's ongoing list of computer glitches, flash crashes and fat finger trades.
As the authorities will always say to onlookers, "move along, move along, nothing to see here, move along." This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.