anacostiakat Posted May 6, 2010 Share Posted May 6, 2010 Well it was down 900 at one point! Link to comment Share on other sites More sharing options...
SandmanTR Posted May 6, 2010 Share Posted May 6, 2010 Well it was down 900 at one point! Yep. European debt crisis set her off. Crazy roller coaster ride today. Link to comment Share on other sites More sharing options...
El Presidente Posted May 6, 2010 Share Posted May 6, 2010 Yep. European debt crisis set her off. Crazy roller coaster ride today. Computer trades exacerbated it. Looks to have settled. Thats if 300 - 400 is a settle Link to comment Share on other sites More sharing options...
anacostiakat Posted May 6, 2010 Author Share Posted May 6, 2010 Computer trades exacerbated it. Looks to have settled. Thats if 300 - 400 is a settle Fear the PIIGS! (Portugal, Ireland, Italy, Greece & Spain) Link to comment Share on other sites More sharing options...
Habanos2000 Posted May 6, 2010 Share Posted May 6, 2010 This was bound to happen after the incessant daily gains recently. May be a buying opportunity? Link to comment Share on other sites More sharing options...
PigFish Posted May 6, 2010 Share Posted May 6, 2010 No one wants to get caught holding the losing ticket today. Traders may have made an automated trading mistake that caused it. Pretty scary... Lady Piggy was yelling out of the house at me while I was down with the horses. Ray Dow down 400... Ray Dow down 650... Dow down about a 1000. Pretty ******* scary! Closed down about 350 points. Link to comment Share on other sites More sharing options...
tigger Posted May 6, 2010 Share Posted May 6, 2010 Thats if 300 - 400 is a settle... We've been due for a correction. Link to comment Share on other sites More sharing options...
thechenman Posted May 6, 2010 Share Posted May 6, 2010 Fat Finger trade at Citigroup on an eMini... Link to comment Share on other sites More sharing options...
CigarmanTim Posted May 6, 2010 Share Posted May 6, 2010 I'm standing on a stool... someone push! Link to comment Share on other sites More sharing options...
Freefallguy Posted May 6, 2010 Share Posted May 6, 2010 We were warned; this should be no surprise. It's going to get much worse. Thankfully my life is not tied to the market. Sincere sympathy to those who are. THe US is 17% vested in the IMF. Does that count for anything? Link to comment Share on other sites More sharing options...
shortsqueeze Posted May 6, 2010 Share Posted May 6, 2010 Fat Finger trade at Citigroup on an eMini... Blame the clerk. Blame someone. Idiots. Are you sure you want to sell 500,000,000,000,000 Dow contracts? Hit ENTER if YES. And everyone gets short into the hole. Nice. Ouch. Link to comment Share on other sites More sharing options...
yossie Posted May 6, 2010 Share Posted May 6, 2010 I think it's pretty big damage for US but Euro's decrease is seemed to be much more serious for me. Link to comment Share on other sites More sharing options...
Ken Gargett Posted May 6, 2010 Share Posted May 6, 2010 Blame the clerk. Blame someone. Idiots.Are you sure you want to sell 500,000,000,000,000 Dow contracts? Hit ENTER if YES. And everyone gets short into the hole. Nice. Ouch. i think that may have exacerbated the fall, not caused it. the mess in greece etc and what it might do to europe, has horrendous potential to make this worse. a buying opp certainly but good luck guesing if this is at or near the bottom (and i guess you'd have needed to have had the readies outside the market in the first place). our market has not only all that but our newly intended resources tax imposed by idiots who care not one single iota about the future of the place, simply that they get themselves re-elected. bugger a few years down the track, that won't be their problem. scum. not to get political (i don't think the other mob are any better although i can't see them doing this. they'd find another way to get the same result). Link to comment Share on other sites More sharing options...
mgillett Posted May 7, 2010 Share Posted May 7, 2010 I have been putting my clients into cash only the past few months. I couldn't take another year like 2008/09! You would be very brave to call this the bottom. I reckon we are closer to the top... Link to comment Share on other sites More sharing options...
Hugomarink Posted May 7, 2010 Share Posted May 7, 2010 Of course it did! I decided to get back into the market two weeks ago after staying away for a few years. Yes, I do have that kind of power when it comes to investing in stocks and betting sports. :-) Link to comment Share on other sites More sharing options...
Guest rob Posted May 7, 2010 Share Posted May 7, 2010 You would be very brave to call this the bottom. I reckon we are closer to the top... The whole of the western world hopes you are wrong. I cant imagine how much havoc GFC2 would cause. Link to comment Share on other sites More sharing options...
El Presidente Posted May 7, 2010 Share Posted May 7, 2010 The whole of the western world hopes you are wrong. I cant imagine how much havoc GFC2 would cause. Hope beyond hope we stabilize over the next quarter. Imaging facing September October with this type of instability Link to comment Share on other sites More sharing options...
bunburyist Posted May 7, 2010 Share Posted May 7, 2010 Indeed. If ever there was a time to be clearing your debts (personal, company or national) its now. In fact we should already be well down that path... Link to comment Share on other sites More sharing options...
bunburyist Posted May 7, 2010 Share Posted May 7, 2010 Anyone aware of the classic 'Bull Trap' curve? Nothing fancy but an unnervingly accurate trend of how (property esp) markets have run of late. I may be a bit of a pessimist in these matters (believe Greece will default, don't believe in spending your way out of debt, global free markets as a concept are stuffed and up the creek etc), but I have to say I firmly believe this is where we find ourselves today, right at the 'return to normal' stage... Link to comment Share on other sites More sharing options...
dicko Posted May 7, 2010 Share Posted May 7, 2010 Anyone aware of the classic 'Bull Trap' curve? Nothing fancy but an unnervingly accurate trend of how (property esp) markets have run of late.I may be a bit of a pessimist in these matters (believe Greece will default, don't believe in spending your way out of debt, global free markets as a concept are stuffed and up the creek etc), but I have to say I firmly believe this is where we find ourselves today, right at the 'return to normal' stage... cool bunburyist, are we at the 'pretend to be "normal"' or 'fear' stage right now? Link to comment Share on other sites More sharing options...
El Presidente Posted May 7, 2010 Share Posted May 7, 2010 ....Andy...you know you could have posted that 5 years ago Link to comment Share on other sites More sharing options...
bunburyist Posted May 7, 2010 Share Posted May 7, 2010 lol - as if it would have made any difference. When the scent of easy money is in the air, we all seem to lose rationality... Link to comment Share on other sites More sharing options...
bunburyist Posted May 7, 2010 Share Posted May 7, 2010 cool bunburyist, are we at the 'pretend to be "normal"' or 'fear' stage right now? logic would say we're between the two. Thing is, logic would say we shouldn't have bailed out the banks and racked up historical levels of debt.....but we did anyway. Maybe more stimulus is on the way. Problem is, as the Japanese are about to find out, there comes a time when there is no money left / willing to be loaned. That's when you invade your neighbour. From a UK perspective, I pick Iceland. Lots of fish, nice hot springs, and some real estate plots that have awesome upwind volcano views with great potential. Link to comment Share on other sites More sharing options...
Chaki Posted May 7, 2010 Share Posted May 7, 2010 We are ALL in trouble. Should we invade planet Mars? Link to comment Share on other sites More sharing options...
cvm4 Posted May 7, 2010 Share Posted May 7, 2010 I was lucky (or unlucky since I was sick) to be at home and watch it unfold over 30 minutes. Simply amazing to watch. High frequency trading will be the death of all our 401k's, IRA's and Roth accounts. Algorithms on all the super computers at the institutions exacerbated the nervousness and problems. What really sucks is all those who had stop/loss orders on there individual accounts. There's no recourse for them to recoup their money. But you bet whoever bought PG in the mid $40's will have that trade unwound. Link to comment Share on other sites More sharing options...
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