Dow tanking

Topspin said:
not to gs shareholders, it would be funny is some trader was trying to short 10,000 shares and did 10 million
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you would have to try hard to fuck up that badly on accident. Most systems have too many checks in place... especially on total shares (just for that reason). While we have E/O insurance, no one wants to be paying the deductible on that.
 
there reporting a trader entered a B for billion instead of m for million. Probably a short trade.
 
Topspin said:
there reporting a trader entered a B for billion instead of m for million. Probably a short trade.
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I doubt that. That may be the excuse they are using, but again, every firm I know of has checks in place on a trade that size. you would have to enter and confirm it three or more times to place a trade like that. Hell, we do it on trades over $100k.
 
Jarod said:
Buy, Buy, Buy....


I knew Id come here to see you guys breathlessly reporting this, but its nuthing like the DOW being at 8000 like many of you cons were hoping for!


There will be days like this, especally after the recession we have just come out of.... but dont get your hopes up, the slow, strong, sustainable recovery is still on track.

Cant wait for tomorrows Jobs numbers.... that should help the market.
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bravo said:
Greece ? WTF, Sonny....its THIS country going down the tubes...how big must our debt be and how bad our economy before you get a clue.....
Greece....grease your ass, the worse is yet to come.
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You guys are retarded. Please keep out of this thread.
 
Ill post where I want, when I want...

Thanks.

Just because reality hurts does not mean I am going to assist you in your attempts to ignore it.
 
CNBC basically confirmed the B not M story. We had a soon to be retired rich boy next to me figure out the company before it was announced.
 
bravo said:
Greece ? WTF, Sonny....its THIS country going down the tubes...how big must our debt be and how bad our economy before you get a clue.....
Greece....grease your ass, the worse is yet to come.
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When EF Hutton talks, people listen.
 
Superfreak said:
you would have to try hard to fuck up that badly on accident. Most systems have too many checks in place... especially on total shares (just for that reason). While we have E/O insurance, no one wants to be paying the deductible on that.
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It would have been freakier if it had stayed that low. Once I saw it below 10K I was like, WTF? It settled to the level it was out just before the big drive that they are trying to call a "trade error". Too bad we can't see what firm was in the driver's seat on that one.
 
Topspin said:
it was trading error, look at citi
average volume 600m today 1.6B
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that means little.... you can pick almost any stock (especially large caps) and the trading volume was 3+ times normal.

What they are saying is that someone AT Citi punched through a bad trade on PG that sent PG from $60 to $40. That sparked the run on everyone else (according to CNBC)

Again, I am highly skeptical of these 'trading errors'. These errors shockingly tend to occur when the market is already moving hard in one direction or another and these 'errors' tend to intensify the move. There was a LOT of money made in 15 minutes. Down 700 points and then back up 600... in a span of 15 minutes.
 
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