The Conservative Cave
Current Events => Breaking News => Topic started by: thundley4 on May 06, 2010, 01:46:42 PM
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It's dropped 600+, crap over 700 now.
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Now down nearly 1000 in last hour. Gold over $1200.
http://finance.yahoo.com/
(http://ichart.finance.yahoo.com/instrument/1.0/%5EDJI/chart;range=1d/image;size=239x110)
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I thought there were triggers in place to stop trading if a slide gets too steep. I wonder where those are?
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It hadn't hit those triggers yet, but it's coming back up. Down less than 500 now.
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It hadn't hit those triggers yet, but it's coming back up. Down less than 500 now.
Still, a 500-point drop is, to quote Slow Joe Biden, "A big ****ing deal..."
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Its gone back up some.
It looks like the Greece riot were stopped by the police this time, temporarily.
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Currently down -410. Part of that might also be profit-taking. What's going on in Greece is a microcosm of what's going on in most of the EU, and will be here in a few years at the rate Obama's going.
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(http://static.businessinsider.com/image/4b6c137100000000000890f8/nyse-circuit-breaker-q12010.jpg)
FYI...
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They sure got close to the 1050 mark didn't they?
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They sure got close to the 1050 mark didn't they?
Down 993 at one point.
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did you miss the other thread? The one in 'Breaking News'??
:tongue:
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did you miss the other thread? The one in 'Breaking News'??
:tongue:
Nope. I posted this one first. Check the time stamp.
Dow Collapsing!!!!
« on: Today at 01:51:45 pm »
:tongue:
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CNBC: HUMAN ERROR IN TRADING CAUSED PLUNGE? TRADER PUSHED 'B' INSTEAD OF 'M'... (http://drudgereport.com/)
I think someone might be looking for a job in the morning...
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?? say what?
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No details yet, just headlines.
Trading Error at Major Firm Blamed for Market Plunge: Sources (Story Developing) (http://www.cnbc.com/)
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No details yet, just headlines.
Trading Error at Major Firm Blamed for Market Plunge: Sources (Story Developing) (http://www.cnbc.com/)
According to the headline at Drudge, some trader pushed a b when he should have pushed an m. The trading systems are that touchy . . . :o
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The B and M keys aren't that close. Unless you have a hangover from Sinko de Mayo.
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?? say what?
B = Billion, M = Million
In other words, it seems that someone accidentally traded 1,000 times the amount intended.
Just imagine if he typed in 'T'...
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http://www.cnbc.com/id/36999483
In one of the most dizzying half-hours in stock market history, the Dow plunged nearly 1,000 points before paring those losses in what possibly could have been a trader error.
According to multiple sources, a trader entered a "b" for billion instead of an "m" for million in a trade possibly involving Procter & Gamble [PG 60.75 -1.41 (-2.27%) ], a component in the Dow. (CNBC's Jim Cramer noted suspicious price movement in P&G stock on air during the height of the market selloff. Watch.)
Sources tell CNBC the firm in question that handled the erroneous trade is Citigroup. The bank said it has no evidence of a bad trade but is investigating the situation
Somebody out there is NOT having the Best Week Ever.
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keyboard fail!
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B = Billion, M = Million
In other words, it seems that someone accidentally traded 1,000 times the amount intended.
Just imagine if he typed in 'T'...
Or, God forbid, a 'Z'.
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If this does turn out to be the reason behind this, I just know what's going to happen next. The idiots in the media, and the government (but I repeat myself) will use this opportunity to smear Wall Street further and they will call for even more regulations and use this to push that horrible bill through Congress.
Now that I think about it, aren't there protections in place that can detect this sort of thing and prevent it from happening? I can understand if someone misplaced a decimal point and traded 1,000 of something instead of 100, but this sounds far too big to not be noticed by someone.
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The B and M keys aren't that close. Unless you have a hangover from Sinko de Mayo.
That wouldn't surprise me.
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WTF? Are there even a million shares of P&G, let alone a billion? Okay, there might be a million shares, but I would think it's unlikely that there are a billion shares of any stock. Maybe that should have been a clue.
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:censored:
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Recovered most of the drop......closed off 300 pts......
doc
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B = Billion, M = Million
In other words, it seems that someone accidentally traded 1,000 times the amount intended.
Just imagine if he typed in 'T'...
Or if he missed the first letter entirely...utter chaos ensues!!!
:popcorn:
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Recovered most of the drop......closed off 300 pts......
doc
If you combine today's losses with the previous 2 days, it's nearly 1,000 points...
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If you combine today's losses with the previous 2 days, it's nearly 1,000 points...
now with the recent gradual stock recovery, the DUmp were point to the magic cast by Obama to be responsible - I wonder what they think now*
*(rhetorical question - Bush's Fault is what they think)
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According to the headline at Drudge, some trader pushed a b when he should have pushed an m. The trading systems are that touchy . . . :o
I call that BS. The trade physically took place accident or not. The order had to be entered, confirmed and then executed in order for it to register on the boards. No glitch. They just dont understand how it could happen with the Messiah looking over everything.