Submitted by Tyler Durden on 07/14/2011 11:28 -0400
* NASDAQ
Just in case there is still any doubt why banks are now laying off entire trading desks, and why retail will never again come back to the stock market, here is today's flash crash: ASIA (not the continent, the Nasdaq stock), hot on the heel's of yesterday's and the one from the day before, and so on. The market is as broken as it ever was, and the porn addicts continue to do nothing about it. Oh, and for those claim this was an accidental fat finger, the total amount of shares that traded during the flashy crashy period: 219,488.
Nanex breaks it down:
AsiaInfo-Linkage (Nasdaq: ASIA )
In this chart we plot trade and quote prices/sizes. Note that during the decline a massive quote-size algo was running on NSDQ. Quote sizes were so large they flatten everything else in the size chart:
http://www.zerohedge.com/article/asia-flash-crashes-berserk-algo-caught-red-handed?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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