NASDAQ Shutdown Spurs People to Action

The three hour shutdown at NASDAQ today, 22-Aug-2013, prompts me to express my outrage. Even Jim Cramer, CNBC Mad Money is outraged and suggests something should be done by the SEC, the regulators, to figure out what happened.

NASDAQ officials are are keeping eerily quiet about the situation. Since when is it necessary that the NASDAQ, the supposed king of the electronic electronic exchanges keep quiet about the status of the exchange, not issue any statement, not issue any brief "feel good" message that they are doing everything to investigate the cause of the malfunction?  NASDAQ needs to say that they will do everything in their power and technology to get to the bottom of the problem and let it never happen again.

Well, I have a solution that should get their attention.  It happens from the retail investor side.  Call your stock broker, call your mutual fund manager, tell them to SELL EVERYTHING!.  That will get their attention. You cannot trust the action in the markets anymore.  They cater to the big guys, the investment bankers, the hedge funds, the high frequency traders.  The little guys are just raw meat for the grinder.

UNTIL THE MARKETS DEVELOP A NEW SENSE OF ORDER, RESPECT, AND FAIRNESS;

UNTIL THE EXCHANGES FIGURE OUT HOW TO REGULATE HFTs;

UNTIL THE REGULATORS START TO ENFORCE THE RULES;

JUST STOP TRADING.

PULL YOUR MONEY OUT.

TELL YOUR BROKER AND YOUR CONGRESSMEN WHY YOU ARE DOING IT.

More news:

1. NYSE Arca and NASDAQ SIP blame each other for trading "glitch" (link)
2. SEC to meet with Exchange Heads on Sept 12 over Outage (Yahoo)
3. Nasdaq, NYSE at odds on outage cause as SEC seeks facts (Yahoo)