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Here's an excellent point from Steven Sears, at Barron's (via Stocks To Watch Today): Rather than getting clear information from various exchanges following the glitch-fuelled but harrowing selloff on Thursday, investors are being stonewalled.

"In the midst of a crisis of unknown origin and wide scope, the exchanges seem to be more concerned with grandstanding to advance the merits of their own trading models than anything else," he said.

Here's the official word from Nasdaq: "NASDAQ OMX reported that we had no technology or system issues associated with the trading that occurred between 2:00 p.m. and 3:00 p.m., ET, today, Thursday, May 6, 2010."

And: "Both NASDAQ and NASDAQ OMX BX operated continuously and the NASDAQ Closing Cross ran successfully."

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