Paulie
Diamond Member
- May 19, 2007
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Yahoo shows DOW plunged from 10875.53 down to 9872.57 That is a 1003 point drop!!!
A lot of stop losses were triggered around 10600.
It's not all panic selling.
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Yahoo shows DOW plunged from 10875.53 down to 9872.57 That is a 1003 point drop!!!
I picked up 200 of P&G @ $42 and sold them @$60. Made a nice $3200 today!
If it was a bank error, you guys aren't going to be able to keep any gains.
Gold Eagles up well over 100% since I bought mine.
If it was a bank error, you guys aren't going to be able to keep any gains.
ya that's fair...banks fuck up and they get my money.....either way i lose
Yahoo shows DOW plunged from 10875.53 down to 9872.57 That is a 1003 point drop!!!
A lot of stop losses were triggered around 10600.
It's not all panic selling.
I picked up 200 of P&G @ $42 and sold them @$60. Made a nice $3200 today!
It was only at $42 for less than 2 minutes. I smell bullshit.
If it was a bank error, you guys aren't going to be able to keep any gains.
S&P broke support at 1144, which certainly triggered a lot of stops.
PG had a lot to do with it too, since a big loss on just one DOW stock can move it 100 points pretty easily.
What concerns me most is that the media is trying to instill fear in people about this being caused by Greece's situation, when the reality is that this was just a rare occasion where a couple different things happened at once and precipitated the automatic sells.
What this is MOST indicative of, is how fragile the market is right now, considering how tight the stop losses actually ARE these days.
This all being said, the smart money is buying tomorrow.
If it was a bank error, you guys aren't going to be able to keep any gains.
Fucking NYSE canceled all trades for the 20 minute swing. I'm calling my lawyer in the morning.
NYSE Arca to cancel multiple trades | Reuters
This all being said, the smart money is buying tomorrow.
If it was a bank error, you guys aren't going to be able to keep any gains.
Fucking NYSE canceled all trades for the 20 minute swing. I'm calling my lawyer in the morning.
NYSE Arca to cancel multiple trades | Reuters
I told you guys.
The VIX is no indication of anything specific at this point in time though. It's up for the obvious reason.
This is not 2008 all over again, either. 2008 there was an actual REASON for a sell-off. The 2008 sell-off was not just a 1-hour stop loss trigger fest, it was straight up consistent real-time selling because banks went bust.
You're not looking at this critically, you're reactibg on emotion.
This was nothing. It has all classic signs of stop losses. The huge buyback afterwards is the clear indication.