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

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Skoorb said:
Joking?
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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.
 
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.
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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.
 
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.
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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.
 
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.
 
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.
 
LOL

<---------------------- Laughs at rich boys Skynet plunge

Wonder how many in here lost asses due to their own nefarious computer programs gone wild 😀
 
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.
 
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.
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Some sort of error for sure, many of the dow components saw the same drop, which then triggered algo selling.
 
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.
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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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