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Monday, October 4, 2010

CENX

There weren't any breakouts to speak of, but we did have another one stock flash crash today. CENX was targeted. this drop and rise took just a couple of minutes, and the Nasdaq has rushed in to cancel all transactions below 11.61 (the horizontal line), meaning if your stop loss was at 11.62, you are SOL. Why 11.61? Because no trader in his right mind would have had a stop loss order below that. I guess I should quit complaining and get with the program, after all, if I could just get off my rear end and respond in microseconds, I could have made a lot of money here. Why CENX was targetted I have no idea, and it may have been at random. This stuff is making a mockery of the SEC, who has already assessed blame for the May 6th event, so I guess they can ignore this.

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