Stock Markets Getting Killed

[V]

There is crazy money to be made on the EUR/USD. The Euro's done 720 pips since the markets opened Sunday.

[DuffMan]

fack, today is starting out poorly also.

[Cowperson]

Some weird things happened in something now being called The Flash Crash.

Basically, you could have bought Proctor & Gamble at about $40 and sold it for $60, a 50% profit, about 10 minutes later.

Someone apparently was filled on 10,000 shares of PHO at .10 cents and it finished the day at $17.

Fortis in Canada was down 37% at one point.

An examination of those roughly 20 minutes . . . .

http://blog.newsweek.com/blogs/wealt...the-world.aspx

Cowperson

[algernon]

So, one idiot trader types in Billion instead of Million?
Holy house of cards, batman.

[Locke]

Originally Posted by algernon

So, one idiot trader types in Billion instead of Million?
Holy house of cards, batman.

http://www.cracked.com/article_18517...-all-time.html

From our good friends at Cracked. Check out #5 on the most Disastrous Typos of all time.

[Pinner]

The author of that column got flamed in the comments.

But something weird happened...

[Locke]

Originally Posted by Cowperson

Some weird things happened in something now being called The Flash Crash.

Basically, you could have bought Proctor & Gamble at about $40 and sold it for $60, a 50% profit, about 10 minutes later.

Someone apparently was filled on 10,000 shares of PHO at .10 cents and it finished the day at $17.

Fortis in Canada was down 37% at one point.

An examination of those roughly 20 minutes . . . .

http://blog.newsweek.com/blogs/wealt...the-world.aspx

Cowperson

Have a look at the Photo Essay linked at the bottom, really compelling stuff. As a freshly minted Business Student, I have to say I'm pretty disappointed in the Banking industry and very unsympathetic.

[dre]

Originally Posted by DuffMan

fack, today is starting out poorly also.

You could almost pick any stock and short it to make money.

[username]

Well I'm still hopeful that Greece is going to pull through all this. If nothing else, I can see the States stepping up. The stock market is critical to sustaining their job recovery.

I can see the TSX hitting 11000 before it rebounds. I'll be buying more when that happens.

[CaptainCrunch]

With all of the incredibly violent protests in Greece, what are the chances that the government falls due to the economic recovery budget and they start at square one with an election?

[Pastiche]

Originally Posted by CaptainCrunch

With all of the incredibly violent protests in Greece, what are the chances that the government falls due to the economic recovery budget and they start at square one with an election?

Very low chances. It's a new government with a strong mandate and still lasting support among Greek middle class. The problems have been effectively shouldered on the previous government. As a result the opposition will not want to force an election as they likely have even more to lose.

The only chance is a new political party led by reputable elites but those seem to be few and far between in Greece.

[Shazam]

I've got a few grand in cash sitting around waiting for the Euro stuff to go down... The deals are a comin'!

[Pastiche]

Originally Posted by username

Well I'm still hopeful that Greece is going to pull through all this. If nothing else, I can see the States stepping up. The stock market is critical to sustaining their job recovery.

I can see the TSX hitting 11000 before it rebounds. I'll be buying more when that happens.

Greece is effectively insolvent. They are bankrupt. The bailout package only gets them through the next 3 years tops. Bonds will rollover at that point and there are no likely scenarios that they will grow enough in that three years to give an investor any plausible reason to want to invest further. They are not pulling out of this.

The nuclear option is the only way out at this point. They are going to leave the Euro-zone, adopt a new currency and devalue the shart out of their debts to get out of this.

[WilsonFourTwo]

Originally Posted by DuffMan

fack, today is starting out poorly also.

The ability to create a cluster-frakk by hitting the wrong button has depressed faith in the markets. Sell, Sell, Sell!!!

Seriously - what an unbelievable mess the stock markets have become. Trading on anything other than emotion or preset computer behaviors has become virtually impossible. Argh!

[Pastiche]

Anyone have any value buy tips?

[dre]

Originally Posted by WilsonFourTwo

The ability to create a cluster-frakk by hitting the wrong button has depressed faith in the markets. Sell, Sell, Sell!!!

Seriously - what an unbelievable mess the stock markets have become. Trading on anything other than emotion or preset computer behaviors has become virtually impossible. Argh!

The markets have always been about emotions. Try to use that to your advantage.

[WilsonFourTwo]

Originally Posted by Pastiche

Very low chances. It's a new government with a strong mandate and still lasting support among Greek middle class. The problems have been effectively shouldered on the previous government. As a result the opposition will not want to force an election as they likely have even more to lose.

The only chance is a new political party led by reputable elites but those seem to be few and far between in Greece.

Very nicely put - good post.

This is a "Lunatic fringe" comment, but.....

This is the exact type of crisis that guys like Mussolini/Hitler live for. Crashing economy, hatred of the government institutions, massive demonstrations from the plebs.......if y'all ever wanted to become dictator of Greece, this is probably your best chance. Just gotta pick a class group to blame the problems on (Who's turn is it?).

[WilsonFourTwo]

Originally Posted by dre

The markets have always been about emotions. Try to use that to your advantage.

I live by Buffet's statement: Be fearful when others are greedy. Be greedy when others are fearful.

It has served me very well for many years, and I kind of enjoyed playing that game. Sadly though, over the past decade or so (specifically since the tech bubble really started), I've slowly watched the playing field deteriorate.

Its been like watching the Lambeau Field's beautifully cut grass turn into an epic mudpit.

[dre]

I am a big fan of Buffet. I have other people that take care of my long term investments.

As a day trader, I am a fan of this guy.

http://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore

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CNN is saying 1 trillion dollars was lost in 10 min.