Glitch Around 2PM Caused [delay in reporting of] Dow Jones Drop 200 Points In Short Time Around 3PM

Nasdaq.com ^ | 2/27/07

[Junior_G]

(RTTNews) - CNBC Reports - Glitch around 2 PM caused Dow Jones to drop 200 points in short time...

[Junior_G]

What the heck do they mean by a "glitch"?

No idea. I don't know much about the technical processes at NYSE. The best case scenario in my mind is that there were a lot of sell orders that got backlogged and then all went through at once. Other than that, maybe there are usually artificial controls in place that failed (I hope that's not how it works over there), or that the plunge is somehow artificial (the most frightening scenario).

[Sender]

Chinese man to stockbroker: "What do you mean portfolio just lost 10%? How can this happen?"

Stockbroker shrugs and says, "Fluctuations."

Chinese man says "Fluctu Americans too! You down 400!"

[be4everfree]

Glitch around 2 PM caused Dow Jones to drop 200 points in short time...

Translation:

NYSE Specialist decided to stop buying shares from the public because they already bought too many, if they were going to be forced to buy more, it was going to be on their terms. Which was low enough so they could average their cost and sell into the rally.

[Enchante]

Al Bore says it's all due to global warming!!

Hillarity says that as the smartest person in the world she alone knows how to fix this.

Obama says he would never play the "race card" but that it's obvious the honkies who run Wall St. just need enough brothers to show them how to "bring it".......

[Junior_G]

Mo1, see RDTF's post #18. It was the first of my three suggested scenarios.

[Virginia Ridgerunner]

Lol....if it's not on paper then it never happened!

[taxed2death]

".....but it did cause the drop to register far more quickly than it otherwise would have."



Hmmmm, so "real time" really isn't.

I wonder WHY they have a delay at all?

Who what benefit from that?

Follow da money.

[Reagan is King]

Yet another reason why I'm glad I quit daytrading.

[M. Thatcher]

Did you read the comments that followed on your link?

"good, it’s about time! I guess Bush’s last hiding place is being destroyed. Now he can’t even brag about the stock market, boo hoo!"

On a Wall Street Journal site. Geez.

[Xenalyte]

"We, uh, we fixed the glitch so he won't be receiving a paycheck anymore. So it'll just work itself out naturally."

[Rennes Templar]

"It happened, but it didn't really happen,"

Kerry was involved!

[Brimack34]

This is what happens when you elect Liberal's. Gas goes up. stocks go down.

[Ernest_at_the_Beach]

Yep,....that's a real glitch...

[GalaxieFiveHundred]

Wonder if they were loading new software...

[RDTF]

Geez is right. Unbelievable

[M. Thatcher]

More proof...they walk among us.

[Wuli]

In a "416 point" drop, the number "416" whether historically high or low is irrelevant.

The relevant number is what % of the market total before the drop does "416" points represent.

I think it is something in the neighborhood of 3 - 3.3% Even 1 "500 point" drop represents 4%.

I think either number will be seen as a "correction" to the climb the DOW has been making for many months. In the past six months alone, one portfolio of balanced fund invstments has risen more than 8% and twice than on the year. And, I am sure that not all of them will be included in the current "correction".

[Ernest_at_the_Beach]

Just watching Foxnews Special Report and there was mention of some software problems with a program that is involved with a running calculation of the Dow Jones avg.....

[neodad]

IBRYMB!