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VIDEONYSE: The Real Winner of Wall Street's Crash
The era of computerized trading will be sharply changed and this exchange might be a play here.
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"Other than that unfortunate incident, how was the play Mrs. Lincoln?"
Yesterday will turn out to be a really big deal. I have a number of thoughts and some guesses, but I will throw them out anyway.
- The uptick rule is coming back, and Congress will unsure it.
- The biggest losers were retail investors who smartly had stop/loss orders in on blue chip companies. The NYSE and NASDAQ busted trades off 60%, but these poor guys have no recourse on stocks like Procter & Gamble (PG). These guys will be permanently turned off on equities.
- Quants will be attacked and paraded in front of Congress. High-frequency trading is dead. Colocation to speed trading will be banned, or the servers can be no closer than Antarctica.
- The NYSE (NYX) and what's left of the specialist system will be able to halt all trading on all exchanges instantly. The era of computerized trading will be sharply changed. NYX might be a play here.
Does any of this help or hurt the average Minyan? Probably not, but the next time Todd feels "heaviness," I will be bailing out.
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