Nite Today

MasterChiseler · Jun 3, 2002

Are they going to break all the trades?
Anyone else in it?

chasinfla · Jun 3, 2002

sort of like a mini emlx. wierd.

qazmax · Jun 3, 2002

NASDAQ IS BREAKING ALL TRADES IN THE SECURITY "NITE" THAT WERE EXECUTED FROM 8:23:00 ET TO 8:48:44.

karabugla · Jun 3, 2002

what about if i sold at 8:35 and covered 8:55? will they break both or just the short?

kev

AAAintheBeltway · Jun 3, 2002

what happened?

qazmax · Jun 3, 2002

They wil be breaking the short only...

But you should call your broker to verify.

karabugla · Jun 3, 2002

thx gaz. i dont have this problem but some of my friends....

nite took a nice dive this morning, shorted and immediately covered (20 sec - trade) +50 cts.
some other guys did the same but their trades were splitted - some before 8:44, some after....

kev

saschabr · Jun 3, 2002

IMO
the "software glitch" is guaranteed to be a fired/to-be-fired
or abused employee

CarlErikson · Jun 3, 2002

Originally posted by karabugla
what about if i sold at 8:35 and covered 8:55? will they break both or just the short?

kev

The trades at 8:55 were not possible because NITE was halted at that time. So they should be busted as well.

See:

http://www.nasdaqtrader.com/dynamic/marketwatch/mwsubhome.stm

Carl

NiteRider · Jun 3, 2002

I caught the story on Bloomburg TV this afternooon.
Their software upgrade went crazy and NITE's own system placed sell orders for NITE stock LOL!
Funny how it chose it's own company's stock out of how many they make a market for? Makes me wonder what this software was really designed to do.