05-06-2010, 02:12 PM
Dow down 900+ points, Apple down 20%, HPQ down 16%...
Ex SWG, L2, CoH, Wow, and War
Currently PvPing in the stock market
Currently PvPing in the stock market
Sweet mother of unholy market blowouts..
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05-06-2010, 02:12 PM
Dow down 900+ points, Apple down 20%, HPQ down 16%...
Ex SWG, L2, CoH, Wow, and War
Currently PvPing in the stock market
05-06-2010, 02:30 PM
Seems to be settling in at around -400.
05-06-2010, 03:24 PM
Biggest hit I took was 12% on FAS.
05-06-2010, 03:35 PM
When APPL was down near $200 (down around 20%), I put in a market buy order in eTrade. Should have gone through straight away (market order)...instead it sat there...and sat there...and sat there. When it finally went through, I paid $244 - very frustrating. I guess I should learn to call a broker instead of using the web.
Ex SWG, L2, CoH, Wow, and War
Currently PvPing in the stock market
05-06-2010, 03:43 PM
Grieve Wrote:When APPL was down near $200 (down around 20%), I put in a market buy order in eTrade. Should have gone through straight away (market order)...instead it sat there...and sat there...and sat there. When it finally went through, I paid $244 - very frustrating. I guess I should learn to call a broker instead of using the web. it doesnt have an option to put a maximum price per share on your buy order? So if it sat too long and then the buy kicked in, it wouldnt exceed XXX amount per share.
[should not have shot the dolphin]
05-06-2010, 04:28 PM
Thank you Greece for being such corrupt fucks and crashing the market again.... Probably some opportunity here though.
05-06-2010, 05:13 PM
You can blame the greek's, but the reality its the fucked up system. This is all just automated trigger trading which is why the average Joe would never be able to get a trade in sideways when the priority automation of hogging the systems.
Here is what its all about. The fear of the entire Euro collapsing. The funny thing is that the greek economy is a nit, and frankly so is Spain and Portugal's. but if they crash and burn the entire european monetary system might crash. Jaken will have to start printing marks. I will say how ever that it was interesting to see AAPL almost reach its real value of somewhere under $200 . Then I could say "I told you so Grieve"....
Maul, the Bashing Shamie
"If you want to change the world, be that change." --Gandhi
05-06-2010, 05:19 PM
Wow, 3 socialist countries going bankrupt? What are the odds. Just another reason the US should avoid anything socialist and should transition out of current programs like social security + medicare/medicaid
[should not have shot the dolphin]
05-06-2010, 05:26 PM
Vanraw Wrote:I will say how ever that it was interesting to see AAPL almost reach its real value of somewhere under $200 . Then I could say "I told you so Grieve"....I'm just glad I picked up more, as it marches back to it's true value (for now) of $350. Diggles Wrote:it doesnt have an option to put a maximum price per share on your buy order? So if it sat too long and then the buy kicked in, it wouldnt exceed XXX amount per share.I'm sure it did, I rushed the trade, since I was sure it was a temporary glitch (and it sounds like it was indeed a fat finger hitting "b" for billion instead of "m" for million at Citigroup). I'm not too disappointed at picking up more at $244, but buying at $200 would have have for a VERY nice profit over the space of a few minutes. The market probably goes down from here, Apple too. I'm not going to time it, though. Eventually Apple will hit $300+, and I'm pretty sure it will be this year.
Ex SWG, L2, CoH, Wow, and War
Currently PvPing in the stock market
05-06-2010, 05:43 PM
Ok so here is the question. What are the best buys. My take is there is no way the European central bank is going to let the euro die. Greece will not fall. I think we will hear some dramatic news tonight when we are sleeping and tomorrow and or Monday are going to be massive rallies.
Looks like Financials and utilities took it the worse.
Maul, the Bashing Shamie
"If you want to change the world, be that change." --Gandhi
05-06-2010, 06:18 PM
Buy what looks best, and then buy some out of the money puts as insurance.
Ex SWG, L2, CoH, Wow, and War
Currently PvPing in the stock market
05-06-2010, 11:30 PM
This is an odd story and disturbing. Basically the drop today may have been ?? What, Im not sure. Engineered? on Purpose?
Quote:"Reuters that the plunge in the Dow Jones Industrial average -- its biggest intraday point drop ever -- may have been caused by an erroneous trade entered by a person at a big Wall Street bank." <!-- m --><a class="postlink" href="http://economictimes.indiatimes.com/articleshow/5901184.cms">http://economictimes.indiatimes.com/art ... 901184.cms</a><!-- m -->
Maul, the Bashing Shamie
"If you want to change the world, be that change." --Gandhi
05-07-2010, 08:24 AM
Diggles Wrote:Wow, 3 socialist countries going bankrupt? What are the odds. Just another reason the US should avoid anything socialist and should transition out of current programs like social security + medicare/medicaid Greece is going bankrupt because they are horribly corrupt and have endemic tax dodging to the tune of like 30 billion a year, are fairly agrarian, and lied to get in the Eurozone. <!-- m --><a class="postlink" href="http://www.nytimes.com/2010/05/02/world/europe/02evasion.html">http://www.nytimes.com/2010/05/02/world ... asion.html</a><!-- m --> Pretty spot on article for anyone who has dealt with these dirty bastards on a regular basis. Fuck the Greeks. God I hate them. Let their country fail and maybe their billionare ship owners can rescue their own country. Anyway, judging every aspect of the EU from Greece is like judging the United states by looking at Alabama or West Virginia, every union has their retarded stepchildren.
05-07-2010, 09:36 AM
Jakensama Wrote:Anyway, judging every aspect of the EU from Greece is like judging the United states by looking at Alabama or West Virginia, every union has their retarded stepchildren. This is the truth. Unfortunately for many, is the fact that the markets are beast of emotion not reality. Mix this with machine based trading triggers and you get a global economy that is any thing but, based on reality....
Maul, the Bashing Shamie
"If you want to change the world, be that change." --Gandhi
05-07-2010, 09:38 AM
Jakensama Wrote:Anyway, judging every aspect of the EU from Greece is like judging the United states by looking at Alabama or West Virginia, every union has their retarded stepchildren.Hey, the south isn't financially irresponsible! I think you mean "by looking at California".
05-07-2010, 09:42 AM
I am very suspicicious of this entire ordeal. Some people made a lot of money yesterday. I know the exchanges are trying to downplay the volume of trading during this 25 minute period, but I find it very suspicious.
"Hamilton is really a Colossus to the anti republican party. Without numbers he is an host within himself. They have got themselves into a defile where they might be finished but too much security on the republican part will give time to his talents and indefatigableness to extricate them. We have had only middling performances to oppose to him. In truth when he comes forward there is nobody but yourself who can meet him. His adversaries having begun the attack he has the advantage of answering them and remains unanswered himself. For God's sake take up your pen and give a fundamental reply to Curtius and Camillas" - Thomas Jefferson to James Madison
05-07-2010, 09:44 AM
Yeah Cali too, thats a special kind of retarded though - where you let budget issues be subject to fucking popular referendums. Anyways, I was going more for the hillbilly aspect since greeks are somewhat eurohillbillies, and all the southern red states that aren't awesome and begin with the letters Tex are moochers who spend more tax dollars than they generate.
I guess Greece is like a mix, excessive social spending and tax irresponsibility like Cali mixed with broke ass rural areas which don't exactly lend to making money. On the topic, I agree with Dustie too.. somethings rotten in the state of Denmark...
05-07-2010, 10:20 AM
we went to Greece on our honeymoon and you see it firsthand. I don't think anyone works over there. Athens is such a clusterfuck, and if you make a wrong turn off the tourist path, it gets scary REAL quick. There is zero police presence in Athens. It's a weird place, it's like someone spliced Europe and Morrocco together. The only good thing is the American embassy there is like the size of Rhode Island. We walked past it a couple times.
And Santorini (Thira) is amazing.
05-07-2010, 10:25 AM
Last time me and the fiancee where there, half the country was on fucking strike and all the ATMs were empty, and no one in that dump takes plastic. Fun times.
I'm afraid of us having our wedding at my companies Cyprus resort.. Beutiful and cheap for employees, but its Greece (more or less)....
05-07-2010, 11:08 AM
Dustie Wrote:I am very suspicicious of this entire ordeal. Some people made a lot of money yesterday. I know the exchanges are trying to downplay the volume of trading during this 25 minute period, but I find it very suspicious. Me too.
05-07-2010, 11:27 AM
Hmm, Ipad is launched and then this happens.. Coincidence? I think not.
05-07-2010, 11:49 AM
I keep hearing little story / questions about if people found some mechansims here to make this happen. If the news keeps talking about it, we might see a serious crash again because normal everyday people will take everything out of the market.
Maul, the Bashing Shamie
"If you want to change the world, be that change." --Gandhi
05-07-2010, 12:17 PM
Vanraw Wrote:I keep hearing little story / questions about if people found some mechansims here to make this happen. If the news keeps talking about it, we might see a serious crash again because normal everyday people will take everything out of the market. Yep. And even if this time was an honest mistake, I'm sure that some bad guys have their gears turning now on how to make some ill-gotten gains in the future. Apearently all you need is one mistake with a large lot on a major DOW component and we're all exposed. And even if that never happens, there's now a perception of how easily it could happen. In other news, it looks like things will be mispriced for a while. Lets get to work! =)
"Hamilton is really a Colossus to the anti republican party. Without numbers he is an host within himself. They have got themselves into a defile where they might be finished but too much security on the republican part will give time to his talents and indefatigableness to extricate them. We have had only middling performances to oppose to him. In truth when he comes forward there is nobody but yourself who can meet him. His adversaries having begun the attack he has the advantage of answering them and remains unanswered himself. For God's sake take up your pen and give a fundamental reply to Curtius and Camillas" - Thomas Jefferson to James Madison
05-07-2010, 12:56 PM
Quote:The exact causes of Thursday’s stock market short-circuit remain unclear, but the lesson is unmistakable. The regulators and the major exchanges have drifted from their original duty: to run a market that gives small companies a way to raise capital and mom-and-pop stock buyers a way to invest for the future on fair terms.link Its awfully tempting for me to agree in this case.
"Hamilton is really a Colossus to the anti republican party. Without numbers he is an host within himself. They have got themselves into a defile where they might be finished but too much security on the republican part will give time to his talents and indefatigableness to extricate them. We have had only middling performances to oppose to him. In truth when he comes forward there is nobody but yourself who can meet him. His adversaries having begun the attack he has the advantage of answering them and remains unanswered himself. For God's sake take up your pen and give a fundamental reply to Curtius and Camillas" - Thomas Jefferson to James Madison
05-07-2010, 01:06 PM
The problem is, that obviously a human run system isn't going to be perfect either, and will have even more mistakes. I have a broker buddy who fucked up a trade once, said it was the most stressful day of his life.
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