In today’s NYT, an article about people speculating on the Martha Stewart verdict. Apparently they guessed wrong. The interesting part of this story is how the NYSE specialist intervened to slow trading in MSO; the more automated markets just let the price fluctuate wildly on rumours. Compare to the story on spraying NASDAQ. I should start a Floyd Norris fan club. The market is a complex and surprising system; Norris’ articles covering it are consistently interesting, insightful, and innovative.