The NASDAQ and Procter & Gamble trades that happened between 2:40 and 3 PM today will be canceled. While the stock market today saw a drop of 998 points before recovering to only closing down 327 points many traders were very worried about a Greece bailout.


After trading today we learn that the NASDAQ and Procter & Gamble trades were canceled between the time of 2:40 and 3 PM. It will be very interesting to see how they sort out the situation as there are many people who made and lost a significant amount of money in this 20 minute period.

It is very likely that some traders made multiple millions of dollars which would have allowed them to retire on a simple 20 minute period of their lifetime. Now that the trades will be canceled it will be interesting to see how things are sorted out.

Unfortunately for many of those who work on the NYSE and NASDAQ trading floors it is going to be a very long night. While it was only a 20 minute period it will take quite some time to clean up all these trades and decide which amount of money will be granted to which traders.

While all this is going on the European markets will open with the idea of a Greece bailout firmly in the minds of many investors. It will come as no surprise to see a huge drop in many of the European markets. Unfortunately, things could get very bad in the near future as the word bailout brings fear to stock markets.

Over the next several months we are going to learn a lot about the overall global economy. Can the global economy keep up with the bailout of several European countries or is there another large downturn coming in the near future? No one knows the true answer to this but it is likely to lead to a very volatile market over the next quarter.

With the NASDAQ and Procter & Gamble trades being canceled and the European stock markets set to open in the near future is going to be a very interesting night for those who have any money in the stock market or are involved in any type of overseas stock trading.

There will be many traders who are staying up all night trying to clean up the errors that were created and this could cause a very long weekend. Some are comparing the upcoming weekend to that of the pre-Lehman Brothers bankruptcy which we all remember as one of the longest weekend in stock market history.

Author: Alan Lake