Bitcoin Forum
May 23, 2017, 06:43:56 PM *
News: Latest stable version of Bitcoin Core: 0.14.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: APPL market depth  (Read 1359 times)
proudhon
Legendary
*
Online Online

Activity: 1218



View Profile
March 24, 2012, 03:40:53 PM
 #1



WTF?  An errant 100 share sell-off causes the price to fall 9%?  I assumed the market would be a lot deeper than that.  Am I missing something here?  If I were holding a bunch of APPL right now I'd be a little nervous.
1495565036
Hero Member
*
Offline Offline

Posts: 1495565036

View Profile Personal Message (Offline)

Ignore
1495565036
Reply with quote  #2

1495565036
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1495565036
Hero Member
*
Offline Offline

Posts: 1495565036

View Profile Personal Message (Offline)

Ignore
1495565036
Reply with quote  #2

1495565036
Report to moderator
1495565036
Hero Member
*
Offline Offline

Posts: 1495565036

View Profile Personal Message (Offline)

Ignore
1495565036
Reply with quote  #2

1495565036
Report to moderator
1495565036
Hero Member
*
Offline Offline

Posts: 1495565036

View Profile Personal Message (Offline)

Ignore
1495565036
Reply with quote  #2

1495565036
Report to moderator
marked
Full Member
***
Offline Offline

Activity: 168



View Profile
March 24, 2012, 08:23:26 PM
 #2



WTF?  An errant 100 share sell-off causes the price to fall 9%?  I assumed the market would be a lot deeper than that.  Am I missing something here?  If I were holding a bunch of APPL right now I'd be a little nervous.

presumably there was an internally matched bid on BATS system, which would then have been announced externally?

If so kudos to the owner whose AAPL shares value have increased by 5000$.

http://www.appleinsider.com/articles/12/03/23/sudden_9_drop_in_apple_stock_triggers_temporary_trading_halt.html
Quote
Update: The culprit of the AAPL stock price drop has been linked to volatility caused by three erroneous trades from BATS' systems. BATS Global Markets Chief Executive Joe Ratterman announced that he was withdrawing his company's IPO after Friday's fiasco. The original price for the 6.3 million share IPO was set between $16 and $18 a share, but the stock ended the day down 99.76 percent to finish at $0.04. Apple shares leveled out and finished the trading day at $596.05, down 0.55 percent.

Well, confidence in that has dropped...



marked, who has no idea what he is talking about due to the wine consumption
Phinnaeus Gage
Legendary
*
Offline Offline

Activity: 1358


Bitcoin: An Idea Worth Spending


View Profile
March 24, 2012, 10:53:49 PM
 #3

When I first read that article, Mt. Bats came to mind.
marked
Full Member
***
Offline Offline

Activity: 168



View Profile
March 25, 2012, 12:37:44 AM
 #4

WTF?  An errant 100 share sell-off causes the price to fall 9%?  I assumed the market would be a lot deeper than that.  Am I missing something here?  If I were holding a bunch of APPL right now I'd be a little nervous.

presumably there was an internally matched bid on BATS system, which would then have been announced externally?

If so kudos to the owner whose AAPL shares value have increased by 5000$.
The trades were reversed.

Quote
http://www.appleinsider.com/articles/12/03/23/sudden_9_drop_in_apple_stock_triggers_temporary_trading_halt.html
Quote
Update: The culprit of the AAPL stock price drop has been linked to volatility caused by three erroneous trades from BATS' systems. BATS Global Markets Chief Executive Joe Ratterman announced that he was withdrawing his company's IPO after Friday's fiasco. The original price for the 6.3 million share IPO was set between $16 and $18 a share, but the stock ended the day down 99.76 percent to finish at $0.04. Apple shares leveled out and finished the trading day at $596.05, down 0.55 percent.


Forum thread at macrumors with some traders opinions
http://forums.macrumors.com/showthread.php?t=1347376

nanex research report with BATS and AAPL
http://www.nanex.net/aqck/2970.html   http://www.nanex.net/aqck/3077.html

http://www.nanex.net/FlashCrash/OngoingResearch.html

So in essence, BATS went insane, and took itself with it. AAPL didn't even notice and carried on.


marked
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!