Thursday, August 22, 2013

Keep your fingers crossed

Nasdaq trading halted due to technical issue
"If I was back in the days of 10 years ago managing 300 traders I'd put the directive out to every one of them 'we don't put any orders in at the open' ... no one trades for 60 minutes," said Joe Terranova, chief market strategist for Virtus Investment Partners and a CNBC contributor.
Yeah, I love being dependent on technology.  I was having a pretty good day.  Now, who know?  At least I don't have any trades outstanding.  The frequency of technical "glitches" seems to be getting out of hand.  Which reminds me.  I dislike the term "glitch."  It's a word people use when they don't really know what happened, as is the case here.  I think the folks that run the exchanges should know what happened.  I certainly hope they don't just reboot and keep their fingers crossed.  Finger crossing never works for me.

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