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D O W is down big-time ... over 900 points ... now 'recovering' ...

A4sForever

A4sForever

BTDT OLD GUY
pilot
Contributor
I don't know where the circuit breakers are ... but WOW !!! They didn't 'pop' !!! What a classic panic response in the market !!!

Wall Street Hammered Amid European Debt Worries; Dow Plunges More Than 600 Points

Stocks Plunge, Then Recover As Debt Worries Slam Markets
The market dropped from @ 400 down to 900+ DOWN in the span of a few minutes. Now it's moving back 'up' ... +/- 200 to 300 point swings in a matter of minutes ... I don't think I've ever seen anything like this ... it gives new meaning to the word: volatility. :eek:

And now it's down @ 300 points with 50 minutes to go ... I'm gettin' whiplash just looking at the ticker.

This affects us all, young & old ... and is (hopefully) a wake-up call to what's going on in our world w/ our corrupt, bloated debt structure(s), fiat money (no I'm NOT a Ron Paul guy) and international financial entanglements. An overreaction to Greece, or something else ... ???

Where ARE we gonna' get the money to pay for all the entitlements and 'obligations' in our cradle-to-grave world ... ??? We're outta' $$$$$, folks.
 
S

SkywardET

Contrarian
WHAT?! You mean debt and credit aren't wealth for Greece?! When did this happen?

Does that mean our debt might have actual consequences? If only we had voted for McCain, as he would have only increased our debt by 90% as much as President Obama has...

Well thank God we can print all the money we want to pay for our debt!


On a more salient point, they are blaming a computer error for this market crash. We shall see...
 
The Chief

The Chief

Retired
Contributor
SkywardET said:
..... computer error for this market crash. We shall see...
Click to expand...

Indeed, we shall. Wonder which computer or was it all? I heard that the "jobs report" due out tomorrow was leaked, far worse report that anticipated, which caused an overload of computer trading across the board, that fed on itself. That is the computer did what it was supposed to do but the managers of those huge funds paniced in lock step. Should it be that report tomorrow is great, in line with anticipations, then we will know that rumor was false. Having said all that BS, indeed the market is on shakey ground, IMHO. There does seem to be a flight to the greenback, which is good I guess. Oil prices are way down too. Watch what AU does.
 
A4sForever

A4sForever

BTDT OLD GUY
pilot
Contributor
Right .... some 'financial genius' just fat-fingered the keyboard & hit the 'B' instead of the 'M' ...

I wonder how he'll do w/ the typing when he's workin' w/ just stumps tomorrow ... ???
 
Catmando

Catmando

Keep your knots up.
pilot
Super Moderator
Contributor
A4sForever said:
Right .... some 'financial genius' just fat-fingered the keyboard & hit the 'B' instead of the 'M' ...

I wonder how he'll do w/ the typing when he's workin' w/ just stumps tomorrow ... ???
Click to expand...

While the "fat-finger-er" caused havoc, I really have to worry about "others" who would and could do something similar, and this time on purpose.

Could an unfriendly country or group create massive financial mischief by hitting a few "Bs" without ever having to worry about ponying up? And do other calculated financial trading mischief? I don't know, but I worry that we may be vulnerable to such nefarious perfidy...aka, war.
 
The Chief

The Chief

Retired
Contributor
vick said:
I'm generally not that paranoid, but an episode like yesterday's just makes me want to do this...
Click to expand...

Both AU and oil headed higher. Intersting. Maket seems skittish this morning. I have been having trouble getting trades thru (Wachovia on-line).

Markets do not like the jobs report, mixed, the game changer seems to be the near double digit unemployment rate 9.9% as more meaningful than "jobs added". Think the "leak" rumor may have had some validity.

Looking to a bad today - where is my bicarbs?
 
A4sForever

A4sForever

BTDT OLD GUY
pilot
Contributor
The Chief said:
Both AU and oil headed higher. Intersting. Maket seems skittish this morning. I have been having trouble getting trades thru (Wachovia on-line).

Markets do not like the jobs report, mixed, the game changer seems to be the near double digit unemployment rate 9.9% as more meaningful than "jobs added". Think the "leak" rumor may have had some validity.

Looking to a bad today - where is my bicarbs?
Click to expand...

Not to worry Master Chief ... the Government is here and ready to help: US Regulators Look to Soothe Stock Markets' Raw Nerves ... this would appear to be the same SEC-gang that can't seem to get along at work w/out downloading porn (?) ... makes one reassured to be 'in their hands'???

Market Plunge Baffles Wall Street "It happened so quickly, it was like a torpedo," said Scott Redler, chief strategic officer at T3 Capital Management, a hedge fund. "It was mayhem."

Traders immediately said a market glitch must have contributed to the decline ... although they offered no specifics ...

"Market glitch" ... I love it. Oh, did we mention?? It doesn't appear to have been 'fat-fingering', in any case (what a surprise, yea-as?) : Computers, Not Human Error, Likely Caused Market Meltdown

I don't have a clue, other than what I read/hear/study. But I do know one thing: when something doesn't 'make sense' ... there's always a reason why.
 
The Chief

The Chief

Retired
Contributor
A4sForever said:
... the Government is here and ready to help ..
Click to expand...

The most unnerving part of this is the ludicrous "fat fingers" excuse. The most primitive of primitive computer programs would detected that eventuality, immediately. Not only, that would have been one stock, or at max one sector. From my view, it was an across the board drop, as if every large fund had submitted sell orders. But we will never know but I think it gives an indication of the shakey ground upon which the equity markets have been roaring ahead for the last ohhh nine months.
 
sodajones

sodajones

Combat Engineer
This is an awesome opportunity for those of us with some savings. I'm going to buy stock like it's cool.
 
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