Markets in Meltdown

josey_whale

At one stage there this evening the DOW was off more than 900 points.... Is this the double dip??

123easy

Might be a good time to buy when the correction settles down

strmin

Somebody made billions in seconds.

Idu

strmin wrote: »

Somebody made billions in seconds.

Source?

josey_whale

strmin wrote: »

Somebody made billions in seconds.

I know... This is a wild ride! This was the biggest intraday dip since 1987!!!!

aphex™

Well recovered now.

Amazing stuff

Clown Shoes

ECB doing their best to bury their heads in the sand...

Idu

What do you think the ECB should do?

Clown Shoes

Prostitute themselves to the Chinese:eek:! Just kidding, yanks beat us to it a long time ago

First thing is check how deep their (ECB´S) pockets really are. Check what the IMF can offer. Ascertain who are the players lending the money and negotiate with them. Gauge how much money could be printed while trying to keep inflation below 2-3%. Last resort, buy government bonds...

What do you think?

silverharp

there is a piece about it here, a few investor sites have been warning about front running by computer trading, seems like a bit of blowback



http://market-ticker.denninger.net/archives/2282-Mr.-President-Unplug-the-Fing-Computers.html

schween

CNBC reporting the drop of almost 1,000 points:

http://www.cnbc.com/id/15840232/?video=1487022682&play=1

Apparently a trader hit b for billion instead of m for million with P&G shares.

http://www.cnbc.com/id/36999483

Inquitus

Fat finger at major bank sells 16bn of US Futures instead of 16m, precipitates brief market mayhem.

PG hit by this

http://www.google.com/finance?client=ob&q=NYSE:PG

and Accenture comically down to a penny on the ticker momentarilly

http://www.google.com/finance?q=NYSE%3AACN

Blackjack

Thankfully the volume of Algo trading in Europe is considerably less than the US, but is growing at a considerable rate.

josey_whale

silverharp wrote: »

there is a piece about it here, a few investor sites have been warning about front running by computer trading, seems like a bit of blowback



http://market-ticker.denninger.net/archives/2282-Mr.-President-Unplug-the-Fing-Computers.html

from this article...

"This was basically the 1987 program-trading crash powered by the fastest CPUs money can buy, and points out that these systems do not have social utility and at times like this they are unbelievably destructive."

Fascinating times we live in

Bullish

Apart from if this was a mistake or not, there is a lot of technical damage done now and this low will be retested IMO.
I would think tomorrow will be bad as most wont hold over the weekend.
Any thoughts on the after effect of today ?

Blackjack

Bullish wrote: »

Apart from if this was a mistake or not, there is a lot of technical damage done now and this low will be retested IMO.
I would think tomorrow will be bad as most wont hold over the weekend.
Any thoughts on the after effect of today ?

How someone could replicate and benefit, and Inquiries if anyone benefitted from today.

pog it

It wouldn't surprise me if markets mark up tomorrow

pirelli

Blackjack wrote: »

How someone could replicate and benefit, and Inquiries if anyone benefitted from today.

I reckon the bush administration are in wall street.


Nobody benefited this unless they were glued to the screen after taking a short sell and covered fast enough, I think it was the big bad boys ripping off the general market and the only ones who profited.


It is more than a coincidence that previous to this shanghi and nikki were off my almost 5%in what is a heavily overbought market when traditionally the markets cools off in MAY. Perfect time to plan a huge short invasion.


MOP ENVIRONMENTAL SLTNS (Public, PINK:MOPN)

Damn i didnt think there was such a thing. I keep getting surprised, time and time again. I bet those boys in wall street have an index for every type of disaster and each likely company to profit.

NATL STORM MGMT INC (Public, PINK:NSMG)

This is another disaster stock pipped to be just as busy this year during summer.

WildBoots

Technical error my ar*e! What about everything that's happening in the world at the moment, I suppose that had nothing to do with it!

Meanwhile gold hits €960 an ounce!

Tomorrow could get crazy! :eek:

Bullish

I know a few traders who are jumping for joy since they had preset buy orders for some stocks, I unfortunatly was not one of those. I was one of the ones trying to put my eyeballs back in my head as the crash unfolded infront of me.
The PG thing may have been a glitch but it shows that there is a lot of fear and it quickly spread through the market, probably due to margin calls and stop loss triggers caused most of the melt down.

But the question is will this be the end of the selling. I highly doubt it

Idu

pirelli wrote: »

I reckon the bush administration are in wall street.


Nobody benefited this unless they were glued to the screen after taking a short sell and covered fast enough, I think it was the big bad boys ripping off the general market and the only ones who profited.


It is more than a coincidence that previous to this shanghi and nikki were off my almost 5%in what is a heavily overbought market when traditionally the markets cools off in MAY. Perfect time to plan a huge short invasion.


MOP ENVIRONMENTAL SLTNS (Public, PINK:MOPN)

Damn i didnt think there was such a thing. I keep getting surprised, time and time again. I bet those boys in wall street have an index for every type of disaster and each likely company to profit.

NATL STORM MGMT INC (Public, PINK:NSMG)

This is another disaster stock pipped to be just as busy this year during summer.

Oh please.

The markets in Asia were off so much because they weren't open the previous days as they were asian holidays.

There's no big conspiracy here, just human error compounding on a lot of negative sentiment

pocketdooz

Accenture from 40 to 1 cent yesterday and P&G down 32% in minutes and then back up again?

What a weird day ......

.

digme

Market crash caught on audio lol
Must Hear: Panic and Loathing From The S&P 500 Pits

Idu

That's quality

MacStacked

strmin wrote: »

Somebody made billions in seconds.

:rolleyes:

the exact same way somebody lost billions in seconds.

pog it

Yep they have saved the world again today- markets are stabilising, moving upwards so far. This is getting boring again.

beagle001

negative markets moving downwards now 3pm should be interesting Monday morning after the bad news no doubt this weekend from our Greek neighbours

Bullish

Really Markets are stabilising.... Which markets
I could be wrong but i really do think we see an EOD sell off

Bullish

beagle001 wrote: »

negative markets moving downwards now 3pm should be interesting Monday morning after the bad news no doubt this weekend from our Greek neighbours

When the truth comes to light about little ole ireland, I sure hope we have riots too

RoadKillTs

markets are stabilising, moving upwards so far.

I can't see that. The ISEQ is down another 4.7% and the FTSE 100 is down 3.5%.

Its getting worse if anything.

displaced dub

If this craziness continues Monday morning I'm selling up a high percentage of my portfolio and waiting till the dust settles before I buy back in.

A lot of my gains are being wiped out with this madness:mad:

RizzoJR

displaced dub wrote: »

If this craziness continues Monday morning I'm selling up a high percentage of my portfolio and waiting till the dust settles before I buy back in.

A lot of my gains are being wiped out with this madness:mad:

OR
if fundamentals havent changed

you could do opposite and
could buy more during the panic

timbrennan

There is great value in shares out there - anything but bank shares or construction

pog it

Displaced Dub- I don't think it's a good idea to sell now.

Actually scratch that- I don't know what shares you own and where.

Do what you need to do.

pog it

Bullish wrote: »

When the truth comes to light about little ole ireland, I sure hope we have riots too

Not gona happen.

pog it

I have to say I am kicking myself though. I got sound advice to trade the VIX when levels were so low, which I didn't act on, and now look at it.

Bullish

And now the VIX levels are so high, Short it !
Right or wrong I am on a shopping spree at the min but keeping powder dry for monday/ tuesday.

Rumours going round
Traders note a rumor that the ECB will announce a EUR 600 bln loan
facility for banks over the weekend, EUR/USD spikes. They will provide
1 year loans to 1100 banks at 1%, the rumor goes.
Takes the European banks off the death list for a while

Anyone know if there is any truth to this...... I bought some NBG

digme

More euros to wipe my ass with,I'm buying more silver thanks very much.

Speculator

Markets are in turmoil, my main concerns now, are about the Spanish economy considering how reliant they were on the property market. Looks like the double dip has begun.

At the same time investors will need to consider their next move very carefully as the next bounce will be fast and furious, some investors will make considerable gains.

Tiesto

Bullish wrote: »

And now the VIX levels are so high, Short it !
Right or wrong I am on a shopping spree at the min but keeping powder dry for monday/ tuesday.

Rumours going round
Traders note a rumor that the ECB will announce a EUR 600 bln loan
facility for banks over the weekend, EUR/USD spikes. They will provide
1 year loans to 1100 banks at 1%, the rumor goes.
Takes the European banks off the death list for a while

Anyone know if there is any truth to this...... I bought some NBG

just came across this : http://www.bloomberg.com/apps/news?pid=20601087&sid=a4d9E2ZdBSYY&pos=1
not a huge amount of detail but...

WildBoots

digme wrote: »

More euros to wipe my ass with,I'm buying more silver thanks very much.

Stick to gold my friend. Gold:Silver currently about 65, it may go to 100 in the next few months, you can exchange your gold for silver when this happens. Gold will hold up better when things go pear shaped, especially when the dollar loses it's safe haven status.

silverharp

WildBoots wrote: »

Stick to gold my friend. Gold:Silver currently about 65, it may go to 100 in the next few months, you can exchange your gold for silver when this happens. Gold will hold up better when things go pear shaped, especially when the dollar loses it's safe haven status.

safer option, with silver you are committed to an inflationary setup whereas gold will work in an inflation and deflation setup.

Bullish

I think we will see a bounce in the markets soon, Plus Cramer just called a sell, Cramer is the number 1 contrarian indicator in the market. Doing the exact opposite of what he says works 99% of the time.

I agree 100% with speculator that the bounce will be fast and furious, As of now there are way too many shorts and the rush to cover will cause a fast upsurge.
but with more downside longer term.

On the gold side I would not touch it at these levels, maby I am missing something If you are bearish on markets, this would indicate a flight to safety as we have seen in the past few days,
Dollar chart on the 10 day chart you can see the dollar has rallied during the meltdown. But on the 2 yr chart 2008 the dollar rallied during the correction and GLD dropped during 2008 Gold chart.
My thinking is that Gold is in bubble mode at the moment with all the media hype and accumilation by central banks. When the exit happens it will crash hard. I would appreciate it if someone can correct me on this
Thanks

silverharp

Bullish wrote: »

I
On the gold side I would not touch it at these levels, maby I am missing something If you are bearish on markets, this would indicate a flight to safety as we have seen in the past few days,
Dollar chart on the 10 day chart you can see the dollar has rallied during the meltdown. But on the 2 yr chart 2008 the dollar rallied during the correction and GLD dropped during 2008 Gold chart.
My thinking is that Gold is in bubble mode at the moment with all the media hype and accumilation by central banks. When the exit happens it will crash hard. I would appreciate it if someone can correct me on this
Thanks

the general longer term trend I see is that gold and the $ will rally together but there will be periods where in a deleveraging phase the dollar will out perform. Its a traders market, buy gold when it oversold and sell it when its overbought

Bullish

Thank you Silverharp,
So when GLD takes out the 52 week high it looks like it "could" be a good short at that time

Speculator

Forget the election – China is the real threat to the FTSE 100


http://www.moneyweek.com/investments/stock-markets/money-morning-china-economy-slowdown-01808.aspx

willietherock

Speculator wrote: »

Forget the election – China is the real threat to the FTSE 100


http://www.moneyweek.com/investments/stock-markets/money-morning-china-economy-slowdown-01808.aspx

More on China

http://seekingalpha.com/article/188559-china-the-mother-of-all-black-swans

josey_whale

Big Bounce today! Did anyone get in big last week?

ranger4

josey_whale wrote: »

Big Bounce today! Did anyone get in big last week?

Bought Bkir last thursday but expect sp could fall back thurs-friday on run upto discount rights issue anouncement next monday.

pog it

It has all become so predictable.

I was drawn to the markets for the challenge... this is not a challenge whatsoever.

pog it

displaced dub wrote: »

If this craziness continues Monday morning I'm selling up a high percentage of my portfolio and waiting till the dust settles before I buy back in.

A lot of my gains are being wiped out with this madness:mad:

Hope you didn't sell.