The market is skyrocketing today

[byu71]

Hey genius, what were you down in 2008? Me? single digits. You? So shut up you cheap suited broker.

Gee, what lit your fire? I have stated many times I don't know what the hell you do. I even started using the term "speculative hedge funds" just to make sure I don't smear you.

If you insist on making an ass of yourself though, be my guest.

[DU Ute]

Gee, what lit your fire? I have stated many times I don't know what the hell you do. I even started using the term "speculative hedge funds" just to make sure I don't smear you.

If you insist on making an ass of yourself though, be my guest.

Listen to you! Why do you always insist on being such an ass?

[pellegrino]

Question: Computers sold billions of shares of stock the other day, based on pre-entered Stop Loss orders that were triggered by the 'glitch.' Since all of those shares were sold at a loss, and because the glitch meant that the shares would bounce back, probably close to where they were trading before the glitch, is there a reasonable chance that the glitch was triggered intentionally, as a form of high-tech robbery?

This is a legitimate question that has gone unanswered. Does anyone have any insight as to the possibility of something like this happening?

[byu71]

I told you to buy (on up days). I told you to sell (on down days). I bought puts (on down days)

Links please. I think I have made it abundantly clear over and over again, I can't trade for shit. If I once said I bought puts and was right it was out of elation for having won one day when I did trade. You begrudge me that?

For all you know though I work as a janitor somewhere, for all I know you are the guy working next to me.

[byu71]

Listen to you! Why do you always insist on being such an ass?

It's in my nature and it comes naturally.

[Uncle Ted]

That's because it tanked last week because of Greece.

BTW, how much of that trillion did the US give? I am positive we threw something into the pot.

About $65b.

Next up to bat... Portugal and Spain.

[RobinFinderson]

This is a messageboard and unlike you guys who enjoy riding bikes together, I don't care to meet anyone here in person, with the lone exceptions of SU, Oxcoug and Wuap at any point in time.

*SNIFF*

What did I do to you to be excluded from this list...

*SOB*

Question: Computers sold billions of shares of stock the other day, based on pre-entered Stop Loss orders that were triggered by the 'glitch.' Since all of those shares were sold at a loss, and because the glitch meant that the shares would bounce back, probably close to where they were trading before the glitch, is there a reasonable chance that the glitch was triggered intentionally, as a form of high-tech robbery?

Bueller? Bueller? Bueller? ...

[byu71]

*SNIFF*

What did I do to you to be excluded from this list...

*SOB*



Bueller? Bueller? Bueller? ...

I would love to know the answer to your question. It is four days now and I haven't heard a defnitive reason why the melt down got so bad. Supposedly they are investigating it, but I just don't understand why they wouldn't know right away. I know they track unusual trades. That's how they find insider trading.

By the way, because someone gets stopped out doesn't mean they lost money. Could have bought at $10, stock goes to $20 and stop is at $16. Even so, I would be upset if I got stopped out and the stock went back up and I suspected hanky panky.

[Colly Wolly]

Indeed.

Don't let him bother you. He works for some 3rd rate hedge fund no one's heard of. He aint all that.

[statman]

It will be interesting to hear his take on efficient markets and the impact the public has.

Our markets CLEARLY aren't efficient in the short-run. But, pick the right time horizon, and they clearly are efficient. Yeah, longer term bubbles do happen, but there's also info being "priced" into those bubbles that may ultimately prove to be wrong (like: "these bonds are risk free since, in the end, the US Gvt will back up all the mortgages anyway")

Assuming that the market is efficient will allow you to utilize models of market behavior that will make you right more often than not. And the better you info, given those assumptions, the more frequent you're right...

[statman]

Question: Computers sold billions of shares of stock the other day, based on pre-entered Stop Loss orders that were triggered by the 'glitch.' Since all of those shares were sold at a loss, and because the glitch meant that the shares would bounce back, probably close to where they were trading before the glitch, is there a reasonable chance that the glitch was triggered intentionally, as a form of high-tech robbery?

If it was intentional, it was likely sabotage, not robbery. This kind of thing has "China" written all over it...

[byu71]

If it was intentional, it was likely sabotage, not robbery. This kind of thing has "China" written all over it...

What would be their purpose? Test run?

AS simple as it sounds, right now I buy into the theory the computers took over and got ahead of the humans. The theory being plenty of trades are set up to run based on various "models". Once those models kicked in, it compounded on itself. That is what some 37 year expert said and it sounded plausible.

[statman]

What would be their purpose? Test run?

AS simple as it sounds, right now I buy into the theory the computers took over and got ahead of the humans. The theory being plenty of trades are set up to run based on various "models". Once those models kicked in, it compounded on itself. That is what some 37 year expert said and it sounded plausible.

The automated/program trades are clearly what lead to the big drop. But what caused the trading models to kick in? What was the trigger? Supposedly it was a Citi trader who hit a "B" instead of an "M." Sounds plausible. A huge (1000X volume) mistake could move the whole S&P or Dow enough for the programs to kick in. Problem is, Citi absolutely denies one of their traders did it, although they admit that it LOOKS like someone at Citi was responsible.

If anyone could've hacked the NYSE and planted a crazy trade that would cause chaos, it would be the Chinese. Just letting us know that our systems are not safe, and that they can wreak havoc whenever they want. A big flex of muscle in a virtual cold war...

[RobinFinderson]

The automated/program trades are clearly what lead to the big drop. But what caused the trading models to kick in? What was the trigger? Supposedly it was a Citi trader who hit a "B" instead of an "M." Sounds plausible. A huge (1000X volume) mistake could move the whole S&P or Dow enough for the programs to kick in. Problem is, Citi absolutely denies one of their traders did it, although they admit that it LOOKS like someone at Citi was responsible.

If anyone could've hacked the NYSE and planted a crazy trade that would cause chaos, it would be the Chinese. Just letting us know that our systems are not safe, and that they can wreak havoc whenever they want. A big flex of muscle in a virtual cold war...

Man! Obama talks about expanding offshore oil drilling, and two days later, BP spoils the whole Gulf Coast with the world's biggest oil leak. Then just as talk is heating up about reform on Wall Street, some unknown person at Citi nearly collapses the world economy. Folks, if I were a religious man, I would be thinking that the Lord Almighty wants us some increased Wall Street and EPA regulation. Can I get a holla?

[dabrockster]

That's because it tanked last week because of Greece.

BTW, how much of that trillion did the US give? I am positive we threw something into the pot.

Under the IMF, USA shares the brunt of the costs then any other nation. Our share is over 17% while all other nations are below 10%..


I think we need to pull all foreign aide and worry about getting our own affairs in order...