Apple Flash Crash vs Silver Flash Smash
Friday, March 23, 2012
The Apple flash crash is the talk of the day. The largest market capitalization company in the United States was demolished over a fat finger/algos/faulty exchange whatever you want to call it. The specific cause is being attributed to BATS, a high frequency trading system. An errant trade caused Apple’s stock to spiral down over 9 percent causing circuit breaker rules to halt the trading of its stock. BATS – making its IPO today also had problems with their own shares. Shares of BATS were reportedly less than a penny a share for a short time before its stock trading was also halted.
With all the apparent attention to Apple and the accusations of who was responsible for the demolition over a few minutes, you have to wonder where all this attention is when silver gets demolished over a few minutes on a regular basis. Doesn’t anyone care who is behind that?