Replies to post #132966 on CMKM Diamonds Inc (fka CMKX)

[south pacific]

Janice,

People have often reported fat-finger mistakes that get reversed, like 10M shares at 0.002 - an 18K oops. The 0.0009 trades were in value high 6 figures. If the MMs reverse 5 figure trades for a fat finger mistake, why not reverse the 6 figure mistake?

Its not a reasonable explanation to say the MM who did this ate the cost of that trade if it was truly an honest mistake.

And no, I don't have an reasonable explanation.

[EvilTweety]

"The seller sold to the MM. The MM then had to find a buyer"

Uh huh....and what exactly possessed the MM to buy it at .0009 or are you implying the MM thought he was buying at .00009 and then said "oops - have to eat that one" ?

[gump90]

I can't buy that, Janice.

The trade would have been broken. MM s don't take baths. They stink just like this market system does.

[junkmasterg]

I would think they would have some protocols in place to prevent those type of mistakes...

but i guess anythings possible...

of course now i want to place crazy limit orders daily on diff stocks to see if this kind of mistake can happen to me :-)