what the...DOW down almost 1000, recovers most of it. Human error :)

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LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Skoorb said:
Joking?
Click to expand...

Not sure what you mean. The decline can probably most be attributed to the jitters around the P&G sellof + program trading around the DJIA (of which P&G is a component), which triggered other selling among the S&P and NASDAQ components. It made no sense at all for AAPL to decline the way it did, as well as other stocks.

Tomorrow still may be down due to Greece and the EU, but it won't be down much after people realize how silly this panic was.
 
StageLeft

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
LegendKiller said:
Not sure what you mean. The decline can probably most be attributed to the jitters around the P&G sellof + program trading around the DJIA (of which P&G is a component), which triggered other selling among the S&P and NASDAQ components. It made no sense at all for AAPL to decline the way it did, as well as other stocks.

Tomorrow still may be down due to Greece and the EU, but it won't be down much after people realize how silly this panic was.
Click to expand...
Not sure about doomsday but it's a pretty significant fluke...I wonder how many people got creamed by a stop loss that kicked in near the bottom.

Damn, this because of a B instead of an M! oh my.
 
L

LegendKiller

Lifer
Mar 5, 2001
18,256
68
86
Skoorb said:
Not sure about doomsday but it's a pretty significant fluke...I wonder how many people got creamed by a stop loss that kicked in near the bottom.

Damn, this because of a B instead of an M! oh my.
Click to expand...

I was phrasing Doomsday with respect to the "OMG, the world is melting because of Greece and others!!!!!!!!"

The fluke reference was to the fat-fingered order and how that f'd the markets.
 
D

Darwin333

Lifer
Dec 11, 2006
19,946
2,328
126
LegendKiller said:
Gotta love the Doomsdayers coming out. This whole thing was a fluke.

You guys need to get a life.
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A fluke that cost a lot of people a lot of money (except for the banksters whose HTF machines likely caused or responded to the "fluke" of course).
 
N

Narmer

Diamond Member
Aug 27, 2006
5,292
0
0
Man, this must be a great time for countries in the EU like Germany that do a lot of exporting. Not only is the world economy rebounding but their currency is plummeting. The best of both worlds. No wonder they're taking their time with Greece. Then again, it may come and bite them in the ass.
 
blackangst1

blackangst1

Lifer
Feb 23, 2005
22,914
2,359
126
It was a fun day for sure. Ive got most of my money at the moment in cash (about half it foreign), the rest in JNJ, BCR, GE, and ABT so Im not worried about it. The P&G drop made me sweat a little, but thankfully it recovered. I just hope we arent back into a credit market freeze. I hope we arent heading into a treasury/dollar market...it will kill the DOW. That, and the still unregulated derivitives market.

But I see opportunity. The exchange rate will kill US nationals, but long term thats where the money is, in my opinion - outside the US. The problem though is we really arent in a recovery with U6 numbers near 20%, and the current debt load we are carrying. I think patience is prudent now. Its the short term traders that will lose here.
 
S

spidey07

No Lifer
Aug 4, 2000
65,469
5
76
I don't know if I buy this human error crap. A lot of people on market boards are calling BS. Too much coincidence going on. It looks like citigroup hasn't even confirmed it.
 
Nemesis 1

Nemesis 1

Lifer
Dec 30, 2006
11,366
2
0
OutHouse said:
yup and i kick myself in the ass everyday for not buying gold instead of stock 8 years ago.
Click to expand...


What was price of Gold 8 years ago . 350 300 After buying Apple at 5.37 I went mainly to shorts to gold. I still have every apple share I bought
 
werepossum

werepossum

Elite Member
Jul 10, 2006
29,873
463
126
I would really, really hate to have to tell my boss that I screwed up by three orders of magnitude.
 
halik

halik

Lifer
Oct 10, 2000
25,696
1
0
spidey07 said:
I don't know if I buy this human error crap. A lot of people on market boards are calling BS. Too much coincidence going on. It looks like citigroup hasn't even confirmed it.
Click to expand...

Some sort of error for sure, many of the dow components saw the same drop, which then triggered algo selling.
 
halik

halik

Lifer
Oct 10, 2000
25,696
1
0
bamacre said:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXjztQ_cKR5g&pos=1

The little conspiracy theorist side of me finds it very coincidental this happened today, with some major votes being cast involving the financial system.
Click to expand...

Everyone jump on the high frequency trading blamewagon!

It's gonna be interesting to see what comes out of it; the fact that several stocks hit cents and bounced back makes me think it's little more involved. Market making apps are generally smarter than that.
 
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