CNN gives curious report on NYSE 'glitch' - then pulls story

Sorry if this has been posted already, searched but found nothing. CNN reports NYSE gives out list of "trouble companies" before yesterdays trading - then pulls story Thought this was very suspicious and worrisome. Wonder if this had anything to do with "glitch" and yesterdays halt in trading? Isn't the exchange supposed to be impartial as alluded to in the video?



Video not working, here's URL:
www.youtube.com...

a reply to: UnBreakable

Thought this was very suspicious and worrisome

You worry too much.

a reply to: UnBreakable

y/v/i/d(afterv=)xxxxxxxxxxxxxxx[/yvid]

Personally I have very little faith in the mainstream media . But furthermore I have an insignificant amount of faith in the first reports from the mainstream media .

I watched the video the whole claim is based on what a anchor woman said was related to her by stockbrokers on the floor . The fact that the story was pulled hours later is no surprise to me because of the source Quoted.

She went on to speculate about that hearsay opinion . Which pretty much tells you why have very little faith in first reports from the mainstream media .

Interesting, but the trouble I have with it is they are trying to connect it to a supposed future event and "biblical prophecy of the end times" or something like that.

The first thought that crossed through my mind when they said they shut down the stock exchange was that it was going to be used to make a few insiders a lot of money ( by buying these "problematic stocks" before the close, and selling them after they're "fixed" or something).

I have no proof of this, and I'm not really digging into it much, but rather just keeping an eye out for any info related to the recent closing.

originally posted by: FlexAuthority
a reply to: UnBreakable

Thought this was very suspicious and worrisome

You worry too much.

You're right, I do worry too much. I lose my job at the end of this month, I have two college tuitions to pay next month, and someone is playing a game with the markets where my 401k resides. So ya, I do worry.

a reply to: Aldakoopa

You can more or less discount the Biblical speculations. The report is interesting.

This is the problem with what is essentially punditry. People miss out on a lot of interesting tidbits because they don't want to look past the opinions associated with it. It's hard, but I do force myself to read some stuff that has some pretty obnoxious opinion attached to it to try to glean out the information.

a reply to: ketsuko

Exactly this.

She lists a few companies too ... that sounded a little more than speculation or hear say to me.

Interesting indeed.

I agree with Greathouse on this one... it seems they possibly jumped the gun in order to get a story out (how many times have we seen this ATS...?) and then retracted the article once they realized it was fruitless.

a reply to: charolais

But she named companies. During a glitch before the market reopened. In an economic sense, the financial damage is already done to a company on such speculation, whether they pulled the story later or not. Cant CNN be sued for that?

originally posted by: UnBreakable
Sorry if this has been posted already, searched but found nothing. CNN reports NYSE gives out list of "trouble companies" before yesterdays trading - then pulls story Thought this was very suspicious and worrisome. Wonder if this had anything to do with "glitch" and yesterdays halt in trading? Isn't the exchange supposed to be impartial as alluded to in the video?

Video not working, here's URL:
www.youtube.com...

Just take out the "v=" in your link.

The glitch in the system was caused probably by a rolling update of the firmware and the OS running on the switches . After working IT for a major company for years this sort of thing happens all too often. The switch(es) hang and have to be rebooted .This could take hours depending on how complex the switch configuration is .Why do they do it during business hours ? They dont have to pay the providers the extra cash for after hours support.

originally posted by: CharlieSpeirs

originally posted by: UnBreakable
Sorry if this has been posted already, searched but found nothing. CNN reports NYSE gives out list of "trouble companies" before yesterdays trading - then pulls story Thought this was very suspicious and worrisome. Wonder if this had anything to do with "glitch" and yesterdays halt in trading? Isn't the exchange supposed to be impartial as alluded to in the video?

Video not working, here's URL:
www.youtube.com...

Just take out the "v=" in your link.

Ok, thanks.

She may very well have heard it from brokers on the floor - they DO know what's going on. She blabbed before she could be censored. Then her bosses towed the party line to prevent panic.

The NYSE has more contingency plans and back up systems than Obama has golf games....the excuses yesterday were exactly that!

Last year, Thomson Reuters estimated the market value of Chinese companies listed on just the New York Stock Exchange and Nasdaq Stock Market at more than $1.4 trillion. With the Chinese stock market rupturing over the past week and trading in more than a thousand stocks suspended in China, the spillover has hit the U.S. market hard.

According to PricewaterhouseCoopers’ March 31, 2015 list of the largest 100 global companies by market cap, there are 11 Chinese companies in that group. We took a look at trading in just two of those names yesterday, China Mobile and China Life Insurance, both of which trade as ADRs on the New York Stock Exchange.

After volume spikes in the morning prior to the trading halt by the Exchange, volume was subdued during the hours the Exchange remained closed. (Other trading venues are supposed to pick up the slack when an exchange goes dark.) Then volume picked up again when the Exchange reopened.

China Mobile (symbol CHL) closed down 5.38 percent yesterday while China Life Insurance (symbol LTR) dropped 6.65 percent in New York trading. If Wall Street firms were afraid of roiling Chinese stocks further with huge volume and panic selling in the U.S., the subdued volume during the three hour and forty minute halt at the NYSE came in handy.

wallstreetonparade.com...

it was a huge news day for 'technical difficulties'
stock trading and flight delays another reminder of being 'connected' to high-tech and stressful it is when computer systems go down it can get crazy

originally posted by: Maluhia
She may very well have heard it from brokers on the floor - they DO know what's going on. She blabbed before she could be censored. Then her bosses towed the party line to prevent panic.

The NYSE has more contingency plans and back up systems than Obama has golf games....the excuses yesterday were exactly that!

Last year, Thomson Reuters estimated the market value of Chinese companies listed on just the New York Stock Exchange and Nasdaq Stock Market at more than $1.4 trillion. With the Chinese stock market rupturing over the past week and trading in more than a thousand stocks suspended in China, the spillover has hit the U.S. market hard.

According to PricewaterhouseCoopers’ March 31, 2015 list of the largest 100 global companies by market cap, there are 11 Chinese companies in that group. We took a look at trading in just two of those names yesterday, China Mobile and China Life Insurance, both of which trade as ADRs on the New York Stock Exchange.

After volume spikes in the morning prior to the trading halt by the Exchange, volume was subdued during the hours the Exchange remained closed. (Other trading venues are supposed to pick up the slack when an exchange goes dark.) Then volume picked up again when the Exchange reopened.

China Mobile (symbol CHL) closed down 5.38 percent yesterday while China Life Insurance (symbol LTR) dropped 6.65 percent in New York trading. If Wall Street firms were afraid of roiling Chinese stocks further with huge volume and panic selling in the U.S., the subdued volume during the three hour and forty minute halt at the NYSE came in handy.

wallstreetonparade.com...





100% nailed it

a reply to: UnBreakable

This is very interesting

Watching it now

a reply to: UnBreakable

Take a look at the intraday chart showing Dow Jones Industrial Average from 9:30am to 4:00pm...



...thumbnail...

...direct URL... files.abovetopsecret.com...

Notice when the ''glitch'' occurred at 11:30 and ended around 2 the price would appear unchanged. The same stocks traded on other exchanges below the starting price and above the starting price, but would end up at the same price when the NYSE came back online.

So I conclude there is no manipulation at all.

Yeah.

Right.