Dow Death Watch

[mlmpetert]

Nasdaq Cancels Trades Made Over 20 Minute Period - WSJ.com

I just heard on the news that nasdaq is going to cancel trades made from 240-3pm that are:

"greater than or less than 60% away from the consolidated last print in that security at (2:40 p.m.) or immediately prior."

I dont exactly know what the means, or how they can even do something like that (legally and administratively). Apparently around 280 securities are effected? Tomorrow should be interesting. Did anyone see the cnbc clip where Cramer is being interviewed and they have Proctor and Gamble up on the screen and while their talking about it within about 45 secs the stock drops to 39 then back up to 60.