Off Topic · Dow dropped 800 points in a half hour (page 1)
AnubisADL wrote:Funny how this happens the same day the Senate was set to vote on breaking up the big banks.
This fcked a lot of investors with stops. I have to believe there is going to be massive lawsuits when they figure out WTF. I wonder if someone hacked the system--either for gain or even terrorism.
BRIGGS wrote:AnubisADL wrote:Funny how this happens the same day the Senate was set to vote on breaking up the big banks.This fcked a lot of investors with stops. I have to believe there is going to be massive lawsuits when they figure out WTF. I wonder if someone hacked the system--either for gain or even terrorism.
That can be real serious and screw up everything in the investment world. The markets today are too robotical and automated. Many people trade automatically using programs so someone who knows how program works could definitely do great damage. The world is going thru big economic changes....the market needs to reform as well. Like putting back the uptick rule.
Bips comment on the oil spill thread is also very appropriate here
for me I'm less concerned with Obama's point of view etc as I am about why do we always need tragic events to occur before we consider taking the pro-active common sense approach to keep them from happening. Is it all about money? Laziness?So many have commented about making changes in the markets, but yet nothing has really been done. Re-instating the uptick rule was talked about even before the crash in 2008.
Markji wrote:BRIGGS wrote:AnubisADL wrote:Funny how this happens the same day the Senate was set to vote on breaking up the big banks.This fcked a lot of investors with stops. I have to believe there is going to be massive lawsuits when they figure out WTF. I wonder if someone hacked the system--either for gain or even terrorism.
That can be real serious and screw up everything in the investment world. The markets today are too robotical and automated. Many people trade automatically using programs so someone who knows how program works could definitely do great damage. The world is going thru big economic changes....the market needs to reform as well. Like putting back the uptick rule.Bips comment on the oil spill thread is also very appropriate here
for me I'm less concerned with Obama's point of view etc as I am about why do we always need tragic events to occur before we consider taking the pro-active common sense approach to keep them from happening. Is it all about money? Laziness?So many have commented about making changes in the markets, but yet nothing has really been done. Re-instating the uptick rule was talked about even before the crash in 2008.
The US economy is much improved over the last two years[example 1mm Ipads sold quickly]. I don't see Greece as a number 1 of 7 other nations going bankrupt--kind of like what happened to our banking system with one after the other. I think this is isolated. The market did run up a little to fast and easily put in a top here with the massive volume over the last 3 days. But if you are talking bottom--IF Greece is isolated as I suspect--I will always look at what financial stocks do next. Financial stocks--to me are by far the number 1 indicator of a market. Bank of America dropped a whole .10 on Friday. That tells me that we are also close to a low[if nothing else materially negative appears] is Friday a near term low?--NO. But looking at financial my guess is we will float in a range of 2000-2300 for a period of time + - 100 at each end. Going sideways is fine--thats where you want the market to be if it has no upside--you want some stability. Stability over time+investors confidence=rising market in a few years. The bull market closed shop this week and dont expect another one for years.