I said this from the start. The “fat finger” nonsense had nothing to do with the plunge. The e-mini S&P’s came under assault with massive sell orders as Greece got out of hand, the yen carry-trade unwound violently, the Euro was plunging, and Trichet had nothing new to say. That in turn triggered massive basket selling. And then the computers got out of the way, leaving no bid in the market.
Computers buying and selling to each other at the speed of light. Pre-programmed to do certain things at certain points. WOW! Hi my name is Hal.
What are you doing Dave...Dave...Dave what are you doing
You mean some one did NOT place an order for billions of shares of Proctor Gamble rather than millions? Also have they confirmed the false rumor that the European banks had shut down because of Greece?
Someone big shorted the market...and cashed in.
“Data from Interactive Brokers shows 48,000 worth of June S&P 500 puts taken out at or minutes before 2:30 Thursday. The stock market dive began at 2:40 and went as far as 998 before recovering to close down 347 points for the day”
And Martha Stewart went to jail for what.....?
Looks like Lymphangitis.
Obama and his merry men are going to use this as a reason why the Finance Bill should be passed. Their reasoning will be, “government in control acting as watchdogs and this type of thing will never happen”. Right./sarcasm off
This was the opposite of the hapless Times Square Bomber!!
“Good morning, lab rats...”
- _A_Good_Year_