[wusatiuk]

ahh, so arbitrage players simply paused trading, as their automated calculations where incomplete?

[lmm]

Yeah. A human can probably spot the difference between a flash crash and a true crash, at least after making a few phone calls - but by that point the opportunity has probably gone.

[minimax]

I know it's anecdotal, but I have heard from some of my human prop trader friends about guys who made a killing buying on Monday morning.