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Stock Selloff May Have Been Triggered by a Trader Error
cnbc ^
| 05/06/2010
| CNBC.com
Posted on 05/06/2010 1:58:32 PM PDT by Newton
click here to read article
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To: Newton
"Stock Selloff May Have Been Triggered by a Trader Error" In a realted story: Monkeys may fly out my butt...
Film at 11...
21
posted on
05/06/2010 2:13:31 PM PDT
by
Mad Dawgg
(If you're going to deny my 1st Amendment rights then I must proceed to the next one...)
To: sanchmo
for large lots they use shorthand, like 6m for 6000000. It’s less error prone than typing the zeroes.
22
posted on
05/06/2010 2:13:44 PM PDT
by
ozidar
To: Newton
Just kidding!
23
posted on
05/06/2010 2:14:00 PM PDT
by
Yo-Yo
(Is the /sarc tag really necessary?)
To: Newton
Sounds like a load of crap to me. I guess we’ll find out soon enough if the Japanese markets crash when they open.
24
posted on
05/06/2010 2:14:09 PM PDT
by
VOR78
To: Newton
It’s being spun as a trader error? When Greece comes to America what will they blame it on then? Bush? Halliburton?
25
posted on
05/06/2010 2:14:22 PM PDT
by
hattend
(The era of John McCain is over, the era of Ronald Reagan is back! Go Sarah Go!)
To: Newton
We need a congressional study.
26
posted on
05/06/2010 2:14:40 PM PDT
by
CincyRichieRich
(Keep your head up and keep moving forward!)
To: unkus
27
posted on
05/06/2010 2:15:11 PM PDT
by
Borges
To: Newton
I was listening to Tom Sullivan, and he says that excuse is “Bull”! He didn’t say exactly what he thought caused it, but that a mistake by a trader wouldn’t cause that crash.
Sounds like someone’s making up excuses for some reason.
To: equalitybeforethelaw
“Anybody see Soros lately?”
Have any INTERPOL officers seen him lately?;)
To: Newton
Tom Clancy is a genius again. Re: Debt of Honor
30
posted on
05/06/2010 2:18:19 PM PDT
by
neodad
(USS Vincennes (CG 49) "Freedom's Fortress")
To: OldDeckHand
I mentioned earlier that this was going to wind up being the White Racist Christian TeaBagger Dittohead’s fault. I didn’t understand how when I posted it, but I’m now beginning to see how it might take shape. Thanks for the post.
31
posted on
05/06/2010 2:18:33 PM PDT
by
DoughtyOne
(Be still & kneel before the know-nothing Omnipotent One, Il Douche' Jr., may fleas be upon him.)
To: Newton
Hmmm... If “B” and “M” were alongside each other on the keyboard, or if they were on the “same hand” when typing I might believe a “mistake”. However, neither are the case (unless the man is a hunt and peck typer, and then how would this mistake have been made)... Awfully interesting. I mean I understand typos are possible (I make many myself), however it’s usually a keystroke that doesn’t “take” leaving a letter out or off the end (a problem with my keyboard), or hitting a letter next to the one I mean to hit, or reversal of letters, or typing “and” instead of “an” due to muscle memory. To me this just doesn’t make sense as an “innocent error”.
32
posted on
05/06/2010 2:19:39 PM PDT
by
LibertyRocks
(http://libertyrocks.wordpress.com ~ Anti-Obama Gear: http://cafepress.com/NO_ObamaBiden08)
To: RogerWilko
As far as automated stops go the amount of stock may trigger them quicker than the amount of money. Somebody pointed out that they would have had to short sell a bunch in order to get the amount of stock needed to do the trade. Also a billion dollar transaction should need special approval of more than just the trader.
Not buying the BS on this one.
33
posted on
05/06/2010 2:20:28 PM PDT
by
Hillarys Gate Cult
(The man who said "there's no such thing as a stupid question" has never talked to Helen Thomas.)
To: politicket
Are you writing a newsletter today?!?! I can’t wait to read it! All these ‘bull market’’economy is recovering’ people are getting their shirts handed to them. Watching the Greece riots live was unbelievable. Just a foreshadowing of things to come here. It’s amazing as it all starts to unravel.
34
posted on
05/06/2010 2:21:02 PM PDT
by
American72
(Sick of Liberals)
To: Carling
A few minutes after the P&G thing 3m collapsed and the computers went crazy selling.
35
posted on
05/06/2010 2:21:38 PM PDT
by
mad_as_he$$
(If you can read this you are the resistance.)
To: Defiant
Basically, it did. We were already down 200 points before the wheels came off. Of course, with the program trading going on and the hitting of massive quantities of stops, of course the market had to take some other lumps.
This day was a yawner compared the steady sell-off we saw the day Lehman went in September 2009. That took us down 900 points.
36
posted on
05/06/2010 2:26:01 PM PDT
by
L,TOWM
(The Democratic Party Platform: Lies, promulgated by Liars whose only real talent is Lying.)
To: Newton
Are they kidding me. They trying to say that it's 2010: Rise of the Machines??
Your economy has been tuuuminated!
Yeah right.
37
posted on
05/06/2010 2:27:33 PM PDT
by
lapsus calami
(What's that stink? Code Pink ! ! And their buddy Murtha, too!)
To: LibertyRocks
If B and M were alongside each other on the keyboard
One would think the mistake would have been a Nillion.
38
posted on
05/06/2010 2:27:43 PM PDT
by
TomGuy
To: Newton
In these days of govt. funny business, I wouldn't be surprised if a trader whipped out a "T" (for trillion) instead of "M" (for million) during the frenzy.
What's a few hundred billion these days anyway.
39
posted on
05/06/2010 2:28:13 PM PDT
by
Trajan88
(www.bullittclub.com)
To: American72
The media is destroying the USA, for purely political partisan reasons. It has refused to live up to its first ammendment responsibilities and actively investigate and hold accountable, what is quickly turning out to be America’s most incompetent Executive administration, in our history.
40
posted on
05/06/2010 2:28:51 PM PDT
by
Typical_Whitey
(Obama Admin policy on stopping terror attacks in the US is to rely on Dumb Luck.)
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