Thursday, August 22, 2013

FUBAR: The Day NASDAQ Went Dark

Shortly after noon, at about 12:20 pm EDT, the NASDAQ shut down trading operations. There would be no trading of any "securities" (ha, ha, funny word) on the NASDAQ platform until further notice.

Some traders were visibly asleep.
From a public relations perspective, the NASDAQ itself was officially quiet during the outage, which turned out to be not much of a big deal. Stocks actually went higher after the NAZ re-opened at 3:25 pm ET, with just 35 minutes left in the session. It was learned that the President was informed of the shutdown while he was three-putting the eighth hole at Oak Hill Country Club in Rochester, NY.

The day ended in typical dead-cat bounce fashion, with a slight selloff into the close, but stocks generally higher, ending a six-day losing streak for the Dow, but ushering in an era of infrastructure breakdown with a three-hour closure of the NASDAQ.

And you want your money - your investments for your future, for retirement - in these markets?

America is becoming a third world nation.

Welcome to Cameroon, my friends.

Dow 14,963.74, +66.19 (0.44%)
NASDAQ 3,638.71, +38.92 (1.08%)
S&P 500 1,656.96, +14.16 (0.86%)
NYSE Composite 9,425.04, +85.66 (0.92%)
NASDAQ Volume 884,157,625
NYSE Volume 2,573,636,500
Combined NYSE & NASDAQ Advance - Decline: 5235-1326
Combined NYSE & NASDAQ New highs - New lows: 144-93
WTI crude oil: 105.03, +1.18
Gold: 1,370.80. 0.70
Silver: 23.04, +0.072

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