What brought this on? Investors realize whats coming? China sell a bunch of stock?
Brad
The fears of Greece and the fact that the UK is next inline and the US is not far behind them.
quote
NEW YORK (AP) — Stocks plunged Thursday and took the Dow Jones industrials down almost 1,000 points as investors succumbed to fears that Greece's debt problems would halt the global economic recovery.
Computer selling intensified the selling while investors watched protests in the streets of Athens on TV. Fears are running high in the financial markets that the Greek government will not be able to implement austerity measures that would enable it to contain its debt problems. And, in turn, that the country's problems will hurt other economies in Europe and even the U.S.
The Dow's gyrations showed the high emotions in the markets. Down 998.50 points in mid-afternoon, it recovered minutes later to a loss of 470.
[This message has been edited by Bullet (edited 05-06-2010).]
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03:06 PM
87antuzzi Member
Posts: 11151 From: Surrounded by corn. Registered: Feb 2009
Previous close 10,868.12 Open 10,862.22 Day high 10,879.76 Day low 9,869.62 Today's volume 297,481,866 Average daily volume (3 months) 204,923,792 Average P/E 15.8 1 year change +24.30% Data as of 3:05pm ET, 05/06/2010
I get a change (drop) of 1010.14
Brad
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03:09 PM
Bullet Member
Posts: 797 From: Douglasville, GA Registered: Jul 2007
Previous close 10,868.12 Open 10,862.22 Day high 10,879.76 Day low 9,869.62 Today's volume 297,481,866 Average daily volume (3 months) 204,923,792 Average P/E 15.8 1 year change +24.30% Data as of 3:05pm ET, 05/06/2010
I get a change (drop) of 1010.14
Brad
Your drop is off the HIGH of the day not yesterdays close.
A possible culprit for the drop was a trader error in which someone entered a "b" for billion instead of an "m" for million in a trade. Multiple sources confirmed the report to CNBC and CNBC.com
no it is the CORPrats and the BuSh2 led GOP who give the CORPrats what ever they wanted
derivatives , computer based instant trades, hedge funds ect
wake up the CORPrats are not your friends we need RE-REGULATION the GOPs holy grail of DE-REGULATION FAILED just like VOODOO FAILED
it is passed time to try new ideas not the GOP's SOS over again
Again with your Haiku gibberish. . . you realize the dems have had the majority for almost 4 years now? Re-regulation? The GOP has been screaming for that (read freddie and fannie) for years. . . dems (read barney frank) have lied flat out to the people on their condition. Also, the regulation needs to come on government spending. You seemingly will never get it. The whole greece incident was invoked because the greeks built giant unions and paid themselves stupid from the goverment. Now that debt has come home to roost and the people are pissed they have to pay the piper.
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06:23 PM
Wichita Member
Posts: 20707 From: Wichita, Kansas Registered: Jun 2002
way to bring up a strawman fannimay and freddymac are not the problem and as quazi fed run programs all ready subject to rules and laws unlike the credit default swaps or derivatives that have NO RULES OR LAWS problem is the party of NO wants it that way
de-reg is a pure GOP idea much like VOODOO it has FAILED
way to bring up a strawman fannimay and freddymac are not the problem and as quazi fed run programs all ready subject to rules and laws unlike the credit default swaps or derivatives that have NO RULES OR LAWS problem is the party of NO wants it that way
de-reg is a pure GOP idea much like VOODOO it has FAILED
what will the GOP DO? so far nothing
LOL, I'm starting to think you went to public school.
Wait, I'll translate that to rayb speak [rayb] AS ThE blood of the river runs over the hills of time sometimes defense-ives lives bribes
supercalifragilicious-ness will be the end days of things mindless typing goes here as wellio [/rayb]
Brad
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08:51 PM
RandomTask Member
Posts: 4547 From: Alexandria, VA Registered: Apr 2005
way to bring up a strawman fannimay and freddymac are not the problem and as quazi fed run programs all ready subject to rules and laws unlike the credit default swaps or derivatives that have NO RULES OR LAWS problem is the party of NO wants it that way
de-reg is a pure GOP idea much like VOODOO it has FAILED
what will the GOP DO? so far nothing
Quoted for posterity.
Do you even know what a credit default swap or derivative is? (W/O Google). Judging by your logic, we should kill anywone we want, as long as its law. . .
I'm not saying some of the fat cats on wall street walk the black and white line, there is certainly some gray areas. But if you're stupid enough to believe it boils down to political ideology and that you can place all trust in government, well then I'd suggest you go bury your head in the sand. And lol at 'no laws over credit default swaps'. You must be completely ignorant to having ever traded.
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08:58 PM
fierobear Member
Posts: 27105 From: Safe in the Carolinas Registered: Aug 2000
way to bring up a strawman fannimay and freddymac are not the problem and as quazi fed run programs all ready subject to rules and laws unlike the credit default swaps or derivatives that have NO RULES OR LAWS problem is the party of NO wants it that way
de-reg is a pure GOP idea much like VOODOO it has FAILED
what will the GOP DO? so far nothing
How about Bawney Fwank saying "there isn't a problem in the housing market" or with Fannie and Freddie? How about banks being FORCED to make loans to low-income (in other words, risky) borrowers? Tell ya what, ray, how about we make you give loans to crackheads on the street. It doesn't matter if they have a job or any money. You MUST loan to them, or you'll be punished. How do you feel about that, ray?
sure, have you checked out Greece's GDP/economic size vs the G20 or vs the worlds'? miniscule. This is blatant media & financial opportunism at it's best!
Buy some undervalued stocks now before the recovery happens in a few days!
I trust no-one esp not a unregulated market both the government and the CORPrats can and have done evil but government we can change sometimes with the vote with the CORPrat power the citizen alone has very little hope of limiting their power
modern big government is controlled by the CORPrats their lobbyists and their bribes [called campaign contributions ]
the whole GOP program is give the CORPrats a free hand no taxes on them no hope of sueing them with tort reform that the GOP favors with GOP judges always ruling in favor of the CORPs no rules free trade and so called free markets
btw I do have a little market knowledge having owned stocks and mortgage pools thru the feds programs but nobody understands all the BS bets lurking in the credit default swaps and derivatives markets that can be clearly seen by the results of that unregulated mess
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10:38 PM
partfiero Member
Posts: 6923 From: Tucson, Arizona Registered: Jan 2002
I trust no-one esp not a unregulated market both the government and the CORPrats can and have done evil but government we can change sometimes with the vote with the CORPrat power the citizen alone has very little hope of limiting their power
modern big government is controlled by the CORPrats their lobbyists and their bribes [called campaign contributions ]
the whole GOP program is give the CORPrats a free hand no taxes on them no hope of sueing them with tort reform that the GOP favors with GOP judges always ruling in favor of the CORPs no rules free trade and so called free markets
btw I do have a little market knowledge having owned stocks and mortgage pools thru the feds programs but nobody understands all the BS bets lurking in the credit default swaps and derivatives markets that can be clearly seen by the results of that unregulated mess
I am sure you have some knowledge of how the mess was created. But then you head off into the name calling and blaming only one side for the mess. That is when your posts go from an adult with some knowledge to a babbling three year old.
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10:55 PM
partfiero Member
Posts: 6923 From: Tucson, Arizona Registered: Jan 2002
Chinese Yuan might be a good bet. Just kidding. BTW, at least with your wife working for the gov I know there is one intelligent being in the system, now we need about thirty million more.
Chinese Yuan might be a good bet. Just kidding. BTW, at least with your wife working for the gov I know there is one intelligent being in the system, now we need about thirty million more.
You um got something on your nose there.
Brad
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11:43 PM
Wichita Member
Posts: 20707 From: Wichita, Kansas Registered: Jun 2002
On nightline they are trying to explain it like someone "accidentally" sold 3 billion shares of something instead of 3 million. I don't buy that for a moment.
They also said they were going to cancel some trades made today during the volatility to "ensure the safety of the markets"
It's like that episode of Family guy when everyone realizes they cannot die, free for all, the Government will save us!!
Brad
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12:04 AM
Wichita Member
Posts: 20707 From: Wichita, Kansas Registered: Jun 2002
Any explaination that anybody gives just an hour after the close is all going to be BS. Just like government media saying the Times Square bomber was a white male Tea Party member.
This "fat finger" excuse about some trader accidently hit a "B" instead of an "M" for 'illion shares of PG stock is bs. Because PG only had 28 million shares traded today. No billion shares.
The Stock Market would have shut down automatically if there is a drop of 1000 points, which we came 2 points away from.
Yeah. Plunge Protection came in, so the Feds bought a lot of stock to drive the market back up. Lets see if they can keep it going.
If I were a betting man, I would bet the stock market crashes next week. A crash would be 75% loss, so a 7,000 point loss is possible.
How about Bawney Fwank saying "there isn't a problem in the housing market" or with Fannie and Freddie? How about banks being FORCED to make loans to low-income (in other words, risky) borrowers? Tell ya what, ray, how about we make you give loans to crackheads on the street. It doesn't matter if they have a job or any money. You MUST loan to them, or you'll be punished. How do you feel about that, ray?
back to the GOP BS spin blame the strawman doNOT look behind the curtain donot blame the banks and S&Ls not in the program even if thats where most bad loans came from doNOT blame the agents or loan officers who winked at liers loans or the middle class flippers who lied lets blame the 1 or 2% of the ghetto dwellers who got loans NOT the vast majority of people who walked away
------------------ Question wonder and be wierd are you kind?
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12:56 AM
kevin Member
Posts: 2722 From: Elk Grove, CA USA Registered: Jan 2000
I trust no-one esp not a unregulated market both the government and the CORPrats can and have done evil but government we can change sometimes with the vote with the CORPrat power the citizen alone has very little hope of limiting their power
modern big government is controlled by the CORPrats their lobbyists and their bribes [called campaign contributions ]
the whole GOP program is give the CORPrats a free hand no taxes on them no hope of sueing them with tort reform that the GOP favors with GOP judges always ruling in favor of the CORPs no rules free trade and so called free markets
btw I do have a little market knowledge having owned stocks and mortgage pools thru the feds programs but nobody understands all the BS bets lurking in the credit default swaps and derivatives markets that can be clearly seen by the results of that unregulated mess
ray b, I, as well as other Pennock's member's, can easily understand that you are not a learned individual. I truely feel bad (and sorry) for you, and especially the USA, in that our country is balancing on shaky ground, based on people like yourself. You are unable too, or cannot reason like a person who graduated from college. I can tell your first language is not english based on, among other things, the numerous misspellings you display. You see, normal reasoning analytical people formulate a thought, and can connote a direction to their argument. You try and fail miserably try to put your thoughts together. Unfortunately, guys like youself, who are either too high on mushrooms (Greatfull Dead ?), or are overly saturated with marijuana, can not decide what is fact ( CORPrats?) and what is reality. The Grand Old Party's only participation in this econmomic fiasco, is not putting a stop to it on time. Before Barney Frank and Chris Dodd, who were the two Senators who originated this economic Fannie Mae and Freddie Mac fiasco in the first place, The GOP tried to stop it. They could not, based on the number of votes they did NOT have. I KNOW I have more intellegence than you, based on going to Law School, having a Real Estate Lisense, having traded on the New York and Chicago markets as a broker, and having an Insurance Lisense. Whenever I, and others, try to reason with a person who cannot spell, much less put together a sentence with proper prose, logic and diction, it is like trying to arguing against a guy who thinks the world is flat. Do you think the world is flat? Have a toke and think about it and let us know....
Cordially, Kevin
[This message has been edited by kevin (edited 05-07-2010).]
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01:28 AM
partfiero Member
Posts: 6923 From: Tucson, Arizona Registered: Jan 2002
back to the GOP BS spin blame the strawman doNOT look behind the curtain donot blame the banks and S&Ls not in the program even if thats where most bad loans came from doNOT blame the agents or loan officers who winked at liers loans or the middle class flippers who lied lets blame the 1 or 2% of the ghetto dwellers who got loans NOT the vast majority of people who walked away
I blame it 100% on greed and corruption from the private sector, politicians on both sides of the isle and lets not forget the helpless idiots who took loans they knew they couldn't pay back. And anyone who thinks that only one party is corrupt, or only one party is to blame for the mess, is so far beyond any kind of rational thinking it ain't funny.
[This message has been edited by partfiero (edited 05-07-2010).]
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02:05 AM
fierobear Member
Posts: 27105 From: Safe in the Carolinas Registered: Aug 2000
I blame it 100% on greed and corruption from the private sector, politicians on both sides of the isle and lets not forget the helpless idiots who took loans they knew they couldn't pay back. And anyone who thinks that only one party is corrupt, or only one party is to blame for the mess, is so far beyond any kind of rational thinking it ain't funny.
To suggest that the politicians "on both sides of the isle" are to blame, is an effort of insinuation that there is always an equal 50-50% ratio to a problem. WRONG! This is a typical liberal tactic. Anytime you hear "both sides of the isle", it is said primarily by liberals when they have no arguments to defend themselves. So what they do is try to defray the blame on "others"; they are hoping some of their own stink, mud and lies can be somehow be layed upon innocent bystanders. Often times, the interviwer(s), in an effort to be polite, may agree with this liberal thought, only if they are acquiesing by 2 or 3%. The liberal is happy that their is no argument, and the conservative is happy not to get into a protracted fact finding mission when the show has only limited time. America is lacerated again by the loss of jobs, freedom and higher taxes!
Cordially, Kevin
[This message has been edited by kevin (edited 05-07-2010).]
