Denial – Sickening Pronouncements by Media, Disgusting Moves by Exchanges

First it was the Procter & Gamble (PG) supposed fat finger (Citi (C) denies it and no single entity owns a billion shares), and now the NASDAQ is destroying the marketplace and confidence by doing this:

Nasdaq to Cancel All Trades of Stocks Moving More Than 60%

May 6 (Bloomberg) — Nasdaq OMX Group Inc. said it will cancel all trades of stocks at prices that were 60 percent above or below the last price at 2:40 p.m. or immediately prior.

The exchange operator said in a statement it will cancel all trades “greater than or less than 60 percent away from the consolidated last print in that security at 14:40:00 or immediately prior.”

Nasdaq said it coordinated the decision with all other exchanges

Let me ask you this, why should you be playing in a market where if you make a winning trade they can take it away from you? Pure gambling, the criminals are in charge, there is no rule of law. These actions will destroy confidence, not build it and the people running the markets will eventually get what’s coming to them.

The media is absolutely shell shocked looking for any excuse plausible why the selling was not for real. It was for real, the market was saved by intervention, but the media can’t admit the crash much less the intervention. Denial isn’t just a river in Egypt, that’s for sure…

About Nathan A. Martin 120 Articles

Nathan A. Martin is President of Wingman Investments, LLC, and author of the book Flight to Financial Freedom – Fasten Your Finances. He sees people, both young and old, facing a new era where they are forced to be responsible for their own financial success or failure. His message is clear; become financially literate or be a victim of the external forces that are impacting everyone. Nathan possesses an undergraduate degree in Professional Aviation and Business as well as a Master’s degree in Aviation Management and Operations.

A former Air Force and retired airline pilot, his flying took him the world over participating in many operations including the invasion of Panama, and combat time during Operation Desert Storm. Experience has come over 26 years of flight - logging more than 12,000 flight hours both civilian and military, and as the owner of a corporate aviation management company whose focus was aircraft efficiency.

Influenced by his parents entrepreneurial activities, Nathan began his business and investment training early in life and has used that knowledge every step along the way... from business school to his own corporations and personal investments.

Visit: Nathan's Economic Edge

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