4 ms·
Misleading title. The drop occurred over about 10 minutes, and has partially reversed. As of 3:06 it's -400 for the day. The VIX is also up into the high-30s.
by pw0ncakes 16y ago
Misleading title. The drop occurred over about 10 minutes, and has partially reversed. As of 3:06 it's -400 for the day. The VIX is also up into the high-30s.
Not to say this isn't August 6, 2007 or September 12, 2008. It may well be.
- mnemonicsloth 16y agoYou're absolutely right. I was listening to two different people at the same time, and I'm away from my real-time charting program so I coudln't check. I just changed the title to reflect. Holy Shit. Accenture dropped from $40 to $0.01, and now it's back in the high $30s.
- jasonlbaptiste 16y agocan anyone explain how accenture just went to a value of a penny even if it was momentary?
- jey 16y agoAs I understand it, all it takes is one share to have been sold at that price. Probably indicates someone having a "sell n shares at any price" order where n > buy orders at that moment..? Regardless of the details, this is an example of how markets aren't perfectly efficient.
- yan 16y agoI don't think anyone claims the markets are 'perfectly' efficient. Even the people that believe they are efficient and choose to participate argue that they are exploiting the inefficiencies.
- orblivion 16y agoFurthermore the real question is, could the market possibly be made more efficient if some "expert" were there deciding when a trade was a bad idea?
- WingForward 16y agoProbably.
- jey 16y ago[citation needed] "Experts" are overrated. The whole notion is fundamentally backward-looking. You might as well consult a historian.
- eru 16y agoShouldn't they be experts on both sides of all (or at least most) trades already?
- eru 16y ago> Regardless of the details, this is an example of how markets aren't perfectly efficient. No. Just that the last reported transaction may not be `true' price. There are other arguments against efficiency of markets, but this isn't.
- mnemonicsloth 16y agoPeople are talking about computer errors, but NYSE is saying no. According to the data I'm seeing for ACN now, the whole drop happened over a 1 minute period, and was back up the next minute.
- cschneid 16y agoBad ticks are fairly common, and in a very rapid market, I wouldn't be surprised that the penny didn't actually happen.
- deleted 16y ago[deleted]