The stock market is taking a beating -6% and counting today

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  • David!
    By the wrath of Agamemnon
    • Apr 2004
    • 6501
    #1

    The stock market is taking a beating -6% and counting today

    Looks like some European banks ran out of money to lend today. It's going to get ugly!!!
    .
    Tags: None
    • NaughtyRob
      Two fresh affiliate progs
      • Nov 2004
      • 29602
      #2
      Shit happens, it will go back up.
      [email protected]
      Skype: 17026955414
      Vacares Web Hosting - Protect Your Ass with Included Daily Backups

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        • nolongerexists
          Confirmed User
          • Apr 2003
          • 1096
          #3
          EU webmasters love that i guess :-)
          work smart not hard ;)

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            • Wizzo
              2011 GFY Hall of Fame!
              • Nov 2000
              • 15224
              #4
              I just watched it free fall to almost 1000down and then back up to only 400down in like 5minutes... crazy!
              Looking for Opportunity!

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                • David!
                  By the wrath of Agamemnon
                  • Apr 2004
                  • 6501
                  #5
                  Originally posted by Wizzo
                  I just watched it free fall to almost 1000down and then back up to only 400down in like 5minutes... crazy!
                  Yeah, talk about volatility. In those 5 minutes people lost millions and others made millions.
                  .

                    Comment

                    • DateDoc
                      Outside looking in.
                      • Feb 2005
                      • 14243
                      #6
                      over a 1000 point drop before it recovered about 400. What a day!

                        Comment

                        • JP-pornshooter
                          Confirmed User
                          • Sep 2006
                          • 4007
                          #7
                          amazing the woes from Greece can make such impact.
                          gold is spiking as well..

                          market has done very well this year so far..
                          i could be wrong but i have a feeling it is not just Greece, it may well be the notion that many nations including US is overly in debt and is inching closer to the proverbial cliff...
                          "Obscenity is whatever gives the Judge an erection." -- Author Unknown

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                            • Davy
                              Confirmed User
                              • Apr 2006
                              • 4323
                              #8
                              A big collapse has to happen sometime.
                              And people will not learn from it...
                              ---
                              ICQ 14-76-98 <-- I don't use this at all

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                                • PersianKitty
                                  Meow Media Inc.
                                  • Jul 2001
                                  • 7785
                                  #9
                                  My annuities and stocks had just gotten back to a halfway normal level.. bleck

                                    Comment

                                    • PersianKitty
                                      Meow Media Inc.
                                      • Jul 2001
                                      • 7785
                                      #10
                                      Crazy enough that it's breaking news on NBC at 1pm west coast time

                                        Comment

                                        • JP-pornshooter
                                          Confirmed User
                                          • Sep 2006
                                          • 4007
                                          #11
                                          Originally posted by JP-pornshooter
                                          amazing the woes from Greece can make such impact.
                                          gold is spiking as well..

                                          market has done very well this year so far..
                                          i could be wrong but i have a feeling it is not just Greece, it may well be the notion that many nations including US is overly in debt and is inching closer to the proverbial cliff...
                                          on NPR last night they said it was an input glitch of some sort.
                                          they said" what happened was someone put in a huge sell order, this trigger tons of stop limit orders (these are limit you set online to safeguard your loss, say if a particular stocks hits 22 then it is sold off right away.. many traders work with stop loss triggers (not me))"
                                          they also said some of those trades from yesterday would be invalid.
                                          this morning, nobody says anything.. WTF???
                                          "Obscenity is whatever gives the Judge an erection." -- Author Unknown

                                            Comment

                                            • seeandsee
                                              Check SIG!
                                              • Mar 2006
                                              • 50945
                                              #12
                                              looks like market did some kind of reset lol
                                              BUY MY SIG - 50$/Year

                                              Contact here

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                                                • Caligari
                                                  Confirmed User
                                                  • Oct 2009
                                                  • 5414
                                                  #13
                                                  Originally posted by JP-pornshooter
                                                  on NPR last night they said it was an input glitch of some sort.
                                                  they said" what happened was someone put in a huge sell order, this trigger tons of stop limit orders (these are limit you set online to safeguard your loss, say if a particular stocks hits 22 then it is sold off right away.. many traders work with stop loss triggers (not me))"
                                                  they also said some of those trades from yesterday would be invalid.
                                                  this morning, nobody says anything.. WTF???

                                                  yes they were very quick to come out with this "computer glitch - trader error" explanation..and it happened again today...i mean come on, its the Greece fiasco (and maybe some other things).
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                                                    • kristin
                                                      GOO!
                                                      • Sep 2002
                                                      • 9768
                                                      #14
                                                      This all happened in minutes too - fell to a penny then right back up.

                                                      I'd believe it would have to do with the Euro more if it didn't affect the companies that it did.

                                                      Like Apple, Proctor and Gamble, etc. I could understand if it were insurance companies, banks, etc ... but they weren't really affected at all.

                                                      While NYSE says it is not a glitch on their end, I believe it was a malfunction somewhere or some rogue douchebag doing it, not a full crash of the stock market.
                                                      Vacares rules.

                                                      "Usually only fat guys have the kind of knowledge and ability that Kristin has."

                                                        Comment

                                                        • kristin
                                                          GOO!
                                                          • Sep 2002
                                                          • 9768
                                                          #15
                                                          Originally posted by MCO_David
                                                          Yeah, talk about volatility. In those 5 minutes people lost millions and others made millions.
                                                          Not really, they cancelled any trades for quite a few of the affected stocks during that time.

                                                          Apple slipped 22% and back up - that was not one they cancelled. Wish I would have bought some stock yesterday. =)
                                                          Vacares rules.

                                                          "Usually only fat guys have the kind of knowledge and ability that Kristin has."

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                                                            • JP-pornshooter
                                                              Confirmed User
                                                              • Sep 2006
                                                              • 4007
                                                              #16
                                                              Originally posted by kristin
                                                              Not really, they cancelled any trades for quite a few of the affected stocks during that time.

                                                              Apple slipped 22% and back up - that was not one they cancelled. Wish I would have bought some stock yesterday. =)
                                                              have you seen or heard their reasoning for cancelling some of the trades but not all of them?
                                                              i am so happy that i dont have stop loss triggers on my stocks... it could have turned out really bad, but for those who do have trade triggers, they got screwed over bad.
                                                              "Obscenity is whatever gives the Judge an erection." -- Author Unknown

                                                                Comment

                                                                • kristin
                                                                  GOO!
                                                                  • Sep 2002
                                                                  • 9768
                                                                  #17
                                                                  Originally posted by JP-pornshooter
                                                                  have you seen or heard their reasoning for cancelling some of the trades but not all of them?
                                                                  i am so happy that i dont have stop loss triggers on my stocks... it could have turned out really bad, but for those who do have trade triggers, they got screwed over bad.
                                                                  Didn't so much go into the reasoning, but here is the article I got the info from:
                                                                  http://money.cnn.com/2010/05/07/mark...cnn=yes&hpt=T3
                                                                  Vacares rules.

                                                                  "Usually only fat guys have the kind of knowledge and ability that Kristin has."

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                                                                    • JP-pornshooter
                                                                      Confirmed User
                                                                      • Sep 2006
                                                                      • 4007
                                                                      #18
                                                                      it is still very foggy to me..
                                                                      in one part of this article it says all trades between 2 and 3 pm were cancelled, but then there is a list of stocks for which cancellations were not issued..
                                                                      funny to read that they "slow" the activity on NYSE by basically adding a lag time on the trades, but they didnt do that on the electronic exchanges so the system basically collapsed..


                                                                      investors must be loosing confidence in this system
                                                                      "Obscenity is whatever gives the Judge an erection." -- Author Unknown

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                                                                        • The Demon
                                                                          Confirmed User
                                                                          • Apr 2003
                                                                          • 7336
                                                                          #19
                                                                          I love my triple leverage etfs
                                                                          Greed is Good

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                                                                            • fatfoo
                                                                              ICQ:649699063
                                                                              • Mar 2003
                                                                              • 27763
                                                                              #20
                                                                              Does not sound good for the stock market.
                                                                              Send me an email: [email protected]

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                                                                                • EtainmentGraeme
                                                                                  Registered User
                                                                                  • Apr 2010
                                                                                  • 38
                                                                                  #21
                                                                                  Just reading on the bbc website that the SEC is reviewing the unusual activity today as they reckon there may have been a "fat finger trade", basically human error compounding the panic caused by the Greeks shaky finances.
                                                                                  http://www.youtube.com/watch?v=hifaQqKvf-o <-- Let's all be friends!

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