Quantum Trading Strategies CIO Sean Udall Thinks Apple Flash Crash Could Be The Result Of "Stop Raid" HFT Programs

Speaking exclusively to Benzinga, Quantum Trading Strategies Chief Investment Officer Sean Udall said that the steep drop in Apple Inc.

stock was due to “stop raid” programs from high frequency traders. “It's hard to create any broad market weakness if you can't get apple to sell off,” Udall said. Udall clarified that he's not an opponent of high frequency traders. He said there have been plenty of events like this in the past and there will be more in the future. “Basically, Apple was due for a drop. It was very overbought. There were several technical indicators flashing that it was due for a correction,” according to Udall.