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I AM NOT THAT GUY

SELL! SELL! SELL! SELL!

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Captain Ewok Veteran

Captain Ewok   1,891

Posted
Filed: K-1 Visa Country: Singapore
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Trading Error at Major Firm Blamed For Selloff

According to multiple sources, a trader entered a "b" for billion instead of an "m" for million in a trade possibly involving Procter & Gamble, a component in the Dow.

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Ban Hammer Grand Master

Ban Hammer   13,352

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Filed: Citizen (apr) Country: Brazil
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lol does the NYSE have a reset button?

maybe they can have a mod make that invisible for them. :hehe:

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Dan J Mentor

Dan J   277

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Filed: Lift. Cond. (apr) Country: Indonesia
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Just got back and caught that story on the news. I wonder how many billions were lost today on the slip of a finger.

There are a lot of automated programs using rulesets to look for opportunities in stock prices. By itself this situation should not have triggered the panic it did, but with the automated programs it sort of cascaded down the line.

In other words, a huge drop in P&G stock price could have automatically triggered others to sell.

keTiiDCjGVo

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thongd4me Experienced

thongd4me   69

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There are a lot of automated programs using rulesets to look for opportunities in stock prices. By itself this situation should not have triggered the panic it did, but with the automated programs it sort of cascaded down the line.

In other words, a huge drop in P&G stock price could have automatically triggered others to sell.

There's a shee-it-load of "unsecured liabilities" and inevitable upside pressure on interest rates.

The effect of those two things can't be easily scripted into any kind of scenario for a bull market.

Coupled with the huge sovereign debt worldwide, it was just waiting to happen.

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Dan J Mentor

Dan J   277

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Filed: Lift. Cond. (apr) Country: Indonesia
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There's a shee-it-load of "unsecured liabilities" and inevitable upside pressure on interest rates.

The effect of those two things can't be easily scripted into any kind of scenario for a bull market.

Coupled with the huge sovereign debt worldwide, it was just waiting to happen.

There are other reasons that the market went down and stayed down yesterday. Normal market type reasons.

keTiiDCjGVo

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I AM NOT THAT GUY Grand Master

I AM NOT THAT GUY   5,715

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Chicken Little type reactions of "SELL! SELL! SELL!" dont help the situation any either, I can imagine how many times this type of post was repeated around the web and prompted even more of a spiral.

Because you wannabe financial wiz's take everything said on message boards so seriously! :rofl:

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