Posted on 02/27/2007 2:30:46 PM PST by Junior_G
(RTTNews) - CNBC Reports - Glitch around 2 PM caused Dow Jones to drop 200 points in short time...
(Excerpt) Read more at nasdaq.com ...
LOL! I thought the clutter in my room was bad. ;-)
I didn't know Dr. Perry Cox is a trader.
Let's go all out and call it a belch. lol
This is more than a glitch.
A glitch is dropping a spoon on your lap. This is getting the entire dishwasher dumped on your head.
Soros did it?
Man, they had better fix that. If that's true, that's a mega-billion dollar glitch, and it will shake the foundations of financial institutions who rely on accurate information.
When you're in your 20s, who cares what the market is doing? You've got little money in it anyway, and every drop in the market is an advantage in dollar cost averaging.
When you're in your 50s, thirty years later, you're talking some serious bucks. Market swings can determine your retirement lifestyle. You can't afford for a "glitch" to move you from a nice home into a small apartment in the bad part of town.
When you're post 60, you're probably moving from equities to fixed return investments with less risk. But any "glitch" that adds uncertainty to the market is not helpful to anyone.
The PPT hit the wrong button.
Just dmn.
save
Wonder if some hedge fund comes out of this bankrupt?
That was one expensive glitch
Not a glitch for those who thought they were selling stock at 2:48, but actually sold at 3:pm. More like a catastrophy.
I wonder how much of that kind of thing happened today?
Top Gainer at +20.30%: University Bancorp, Inc. operates as a bank holding company for its wholly owned subsidiary, University Bank (the Bank). University Bank is a state chartered community bank located in the state of Michigan, and began operations in 1908.
"Getting caught in the gears of a combine, that's a glitch...
having your nuts bit off by a Laplander, that's a glitch..."
a 200+ point drop, well, that's something else.
Something seems odd. One small group must of been sending a heck of a lot of sell orders to cause this one hold up in the system.
"Real time" is a delay of ten minutes. Anything can happen. In order to get real "real time," you must pay about a thousand a month.
This all started when the Asian market started crashing. Don't sell. It will come back. What goes up, must come down. What goes down, must come up.
Just get into bed tomorrow. Turn the heating blanket up to about 98 degrees and keep your eyes shut.
You and me both. But I still get my "real time ten-minute delay."
OMGLOL!
You apparently must work with some 'ations.'
My take is the market was reacting to the over night Chinese market crash of 9-10%, by selling off. This forces buyers out and more sellers in as the day goes on and the losses mount. Then come "glitch" time, the losses had reached a point where too many automatic stop-loss transactions kicked on certain stocks, flooding the market and forcing the spike down.
Someone else can explain how the market is supposed to react to this condition. I think trading is to be temporarly suspend or other measures enacted to prevent a crash. It may be the Fed cam make a large buy to stop it. Not sure on this point.
I heard on the drive home that today was the largest or 2nd largest trading day by total volume of stock sold ever.
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