The ENV Event of October 19, 2011 More Nanex Research On October 19, 2011, the stock ENV went $9.48 to $0.02 in 1 second and then quickly recovered in pre-market trading. This is something the public has been told can no longer happen with the improvements made since the Flash Crash of May 6, 2010. Apparently, it can happen and as shown below, it was clearly an algorithm that took the price to almost zero in just one split second. While the 253 errant trades were later canceled, it is painfully obvious that lurking algos are still ready, willing and able to bring the price of a stock to zero if given the chance. We need real improvements, not just banter. ENV - ENVESTNET Prices for pre-event, event, post event: Price and sizes, zoomed to show the obvious algos running during the event. Price only, zoomed to show the 1 second time frame it took to drop the price to $0.02: Of course, most of these trades were later canceled. Price only, Trades only of the entire event. Trades that were canceled are colored in orange. There were 253 canceled trades in total: And with the canceled trades removed we can see it was just another algo in the mist. Pretend it Didn't Happen: For a complete lists of all canceled trades, Click Here. Inquiries: pr@nanex.net Publication Date: 10/19/2011 http://www.nanex.net This report and all material shown on this website is published by Nanex, LLC and may not be reproduced, disseminated, or distributed, in part or in whole, by any means, outside of the recipient's organization without express written authorization from Nanex. It is a violation of federal copyright law to reproduce all or part of this publication or its contents by any means. This material does not constitute a solicitation for the purchase or sale of any securities or investments. The opinions expressed herein are based on publicly available information and are considered reliable. However, Nanex makes NO WARRANTIES OR REPRESENTATIONS OF ANY SORT with respect to this report. Any person using this material does so solely at their own risk and Nanex and/or its employees shall be under no liability whatsoever in any respect thereof.