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- Art Buchwald

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Tuesday, April 24, 2012

JNPR Trips Circuit Breaker While Executing One Of The More Orderly Trade Matching Processes We've Seen

At 15:18:00 EST Juniper Networks spikes from $19.73.  At 15:22 the news hit ToS stations that Juniper beat revenue expectations.  The computers drove it up nearly 10% and as the news started to hit regarding the heavy price swing and major volume, a feed back loop was created.  From 15:36 to 15:48 nothing happened as the stock was halted  At 15:46 an algo sequence drove JNPR down 5% once trading resumed.  A slew of Nanex charts awaits you at the end of this post.

You will after the chart and news image that I ordered the quote tables to show the whole period.

ToS Juniper Networks 1 Minute chart:

News release:

Nasdaq Halt Release:

Next are the quoting sequences from the Pro version starting with the earliest:

Part A

 Part B

Part C

Part D

Here are the three sequences fired after the halt was lifted

More Tables

Part A

Part B

Part C

Here is the Quote Bursts following the resumption of trading

Nanex's charts
@BadAlgo opined that this was one of the more orderly price moves
For assistance on reading these chart, please refer to this page for an explaination

Chart 1
4 Minutes, 35 Seconds, 975 Milliseconds - 74,440 Quotes and 11,854 Trades

Chart 2
1 Minute, 54 Seconds, 150 Milliseconds - 74,714 Quotes and 11,463 Trades

Chart 3
2 Minutes, 59 Seconds, 925 Milliseconds - 73,067 Quotes and 12,671 Trades

Chart 4
3 Minutes, 49 Seconds, 525 Milliseconds - 74,033 Quotes and 12,052 Trades

Chart 5
4 Minutes, 24 Seconds, 300 Milliseconds - 73,260 Quotes and 12,957 Trades

Chart 6
2 Minutes, 9 Seconds, 975 Milliseconds - 40,669 Quotes and 7,996 Trades

Chart 7
44 Seconds, 225 Milliseconds - 14,776 Quotes and 4,966 Trades