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Post# of 279080
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mr_geronimo

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mr_geronimo

Re: watcher2004 post# 37554

Tuesday, 11/23/2004 12:29:04 PM

Tuesday, November 23, 2004 12:29:04 PM

Post# of 279080
My guess is that it was an erroneous trade, sometimes called a "fat finger". Instead of placing the limit order at "0.0025", they forgot a "0", and placed it at "0.025" (limit buy), which a MM was more than happy to execute for them. Happens every once in awhile. Unfortunately it will take quite some time for the buyer to recoup his instantaneous loss.

This is my take on what happened with that particular trade.

Cheers


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