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Dow Jones plummets

245

Comments

  • #32
    schween
    Registered Users, Registered Users 2 Posts: 444 ✭✭schween


    PK2008 wrote: »
    Proctor & Gamble dropped from $62 to $39 and then went back up to $61 in a matter of minutes, meaning if you were quick enough to buy at 39 you would have got a return of almost 33% in a few minutes.

    Someone made a 5hit load on that Id say

    http://www.marketwatch.com/story/proctergamble-not-clear-why-share-price-plunged-2010-05-06

    $40 to $0.01 and back at Accenture...someone is definitely a bit richer.

    http://blogs.wsj.com/marketbeat/2010/05/06/accenture-went-to-a-penny-at-248-pm/


  • #33
    JONJO THE MISER
    Banned (with Prison Access) Posts: 12,333 ✭✭✭✭JONJO THE MISER


    schween wrote: »
    $40 to $0.01 and back at Accenture...someone is definitely a bit richer.

    http://blogs.wsj.com/marketbeat/2010/05/06/accenture-went-to-a-penny-at-248-pm/

    Jaysus:eek:,but i doubt many people brought at 1c such was the pace of the turaround.


  • #34
    random10
    Registered Users, Registered Users 2 Posts: 276 ✭✭random10


    sorry I have no idea about markets at all but i'm going on holidays to USA in july and need to order dollars. with all this uncertainty am i better to order dollars now or wait a while?


  • #35
    Caoimhín
    Closed Accounts Posts: 3,789 ✭✭✭Caoimhín


    Ahhh, dont worry folks, our billions are safe.

    It is being reported as a technical glitch..

    More to come as my brilliant (but insane) mind researches some more/falls asleep watching Prime Time


  • #36
    PK2008
    Registered Users, Registered Users 2 Posts: 2,219 ✭✭✭PK2008


    schween wrote: »
    $40 to $0.01 and back at Accenture...someone is definitely a bit richer.

    http://blogs.wsj.com/marketbeat/2010/05/06/accenture-went-to-a-penny-at-248-pm/

    :eek:

    That is insane!! 1 cent???????????

    Something must have happened to the systems, no way Accenture was ever worth 1 cent a share!!!!

    (in saying that I hadnt realised ACN was only $40, thought they were worth more)


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  • #37
    dr.bollocko
    Moderators, Music Moderators Posts: 35,948 Mod ✭✭✭✭dr.bollocko


    random10 wrote: »
    sorry I have no idea about markets at all but i'm going on holidays to USA in july and need to order dollars. with all this uncertainty am i better to order dollars now or wait a while?

    Well you can wait until tomorrow if you fancy but I think they just wiped 5 cents or so off of the euro to dollar value as far as I know.


  • #38
    Caoimhín
    Closed Accounts Posts: 3,789 ✭✭✭Caoimhín


    random10 wrote: »
    sorry I have no idea about markets at all but i'm going on holidays to USA in july and need to order dollars. with all this uncertainty am i better to order dollars now or wait a while?

    Yep, get your dollars now, the Euro is only going one way. I just wonder if Spain, Portugal, Italy or Ireland will be the last straw for the German taxpayer.


  • #39
    dr.bollocko
    Moderators, Music Moderators Posts: 35,948 Mod ✭✭✭✭dr.bollocko


    Caoimhín wrote: »
    Yep, get your dollars now, the Euro is only going one way. I just wonder if Spain, Portugal, Italy or Ireland will be the last straw for the German taxpayer.

    Dude it isn't only going one way. It just hit a severe low as a result of a reactionary turn to the Greece situation.


  • #40
    PK2008
    Registered Users, Registered Users 2 Posts: 2,219 ✭✭✭PK2008


    random10 wrote: »
    sorry I have no idea about markets at all but i'm going on holidays to USA in july and need to order dollars. with all this uncertainty am i better to order dollars now or wait a while?

    Euro dropped big time today against the dollar so Id give it a few days to see if it recovers anyway. No telling really it depends on how the Greek issue pans out, plus demand for dollars might go up with the market glitch (has to be a glitch).

    If you reckon the Greek issue is going to get worse then buy your dollars sooner rather than later, but Im not sure my gut is telling me the markets may recover slightly, at least while the dust settles, dont know though, its a risk


  • #41
    JONJO THE MISER
    Banned (with Prison Access) Posts: 12,333 ✭✭✭✭JONJO THE MISER


    Guys bear in mind that all Euro notes come with a serial number pertaining to where they were printed, now if Greece leave the euro, the euro notes from Greece will only be worth the conversion rate back to there currency.
    This explains why if you go to countries like Crotia they will check the serial numbers on Euro notes, they would not take any Greek notes prefering instead German euro notes, it might of seemed absurd a few months ago, but folks its far from absurd now so bear this in mind.


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  • #42
    Caoimhín
    Closed Accounts Posts: 3,789 ✭✭✭Caoimhín


    dr.bollocko wrote: »
    Dude it isn't only going one way. It just hit a severe low as a result of a reactionary turn to the Greece situation.

    Mmmm, not sure why the DOW would drop by so much because to the Greek's potential default.

    Must read between the lines sometimes.


  • #43
    PK2008
    Registered Users, Registered Users 2 Posts: 2,219 ✭✭✭PK2008


    JONJO THE MISER wrote: »
    Guys bear in mind that all Euro notes come with a serial number pertaining to where they were printed, now if Greece leave the euro, the euro notes from Greece will only be worth the conversion rate back to there currency.
    This explains why if you go to countries like Crotia they will check the serial numbers on Euro notes, they would not take any Greek notes prefering instead German euro notes, it might of seemed absurd a few months ago, but folks its far from absurd now so bear this in mind.

    The EU just approved €110 billion for Greece, aint no way Greece are leaving the EU now.


  • #44
    dr.bollocko
    Moderators, Music Moderators Posts: 35,948 Mod ✭✭✭✭dr.bollocko


    Caoimhín wrote: »
    Mmmm, not sure why the DOW would drop by so much because to the Greek's potential default.

    Must read between the lines sometimes.

    It was a very volatile market day. Greece was a factor. Not the only one. Crude and financial services got hit bad short term. You're advising somebody to buy dollars from euro at a 13 month low. Perspective is needed.


  • #45
    Thrill
    Registered Users, Registered Users 2 Posts: 5,485 ✭✭✭Thrill


    JONJO THE MISER wrote: »
    Guys bear in mind that all Euro notes come with a serial number pertaining to where they were printed, now if Greece leave the euro, the euro notes from Greece will only be worth the conversion rate back to there currency.
    This explains why if you go to countries like Crotia they will check the serial numbers on Euro notes, they would not take any Greek notes prefering instead German euro notes, it might of seemed absurd a few months ago, but folks its far from absurd now so bear this in mind.
    Where do my euros come from? The code breaker

    The 11 digit serial number on every note begins with a prefix which identifies which country issued it.

    German notes begin with an X, Greek notes start with a Y, Spain's have a V, France a U, Ireland T, Portugal M and Italy S.
    Belgium is Z, Cyprus G, Luxembourg 1, Malta F, Netherlands P, Austria N, Slovenia H, Slovakia E and Finland L.

    http://www.thisismoney.co.uk/news/article.html?in_article_id=503732&in_page_id=2


  • #46
    JONJO THE MISER
    Banned (with Prison Access) Posts: 12,333 ✭✭✭✭JONJO THE MISER


    PK2008 wrote: »
    The EU just approved €110 billion for Greece, aint no way Greece are leaving the EU now.

    This could well spread and the Euro currency could be gone within a year with only peharps Germany, France and a few other countries holding onto the euro thus the rational behind the currency codes.


  • #47
    Caoimhín
    Closed Accounts Posts: 3,789 ✭✭✭Caoimhín


    dr.bollocko wrote: »
    It was a very volatile market day. Greece was a factor. Not the only one. Crude and financial services got hit bad short term. You're advising somebody to buy dollars from euro at a 13 month low. Perspective is needed.

    Mmmm, well some advised that the property market was at the bottom 12 months ago.

    True though, the FED is printing money like monkeys, my point is the value of the Euro is just going to drop and drop.


  • #48
    PK2008
    Registered Users, Registered Users 2 Posts: 2,219 ✭✭✭PK2008


    dr.bollocko wrote: »
    It was a very volatile market day. Greece was a factor. Not the only one. Crude and financial services got hit bad short term. You're advising somebody to buy dollars from euro at a 13 month low. Perspective is needed.

    I have to agree, I wouldnt buy the day a drop happens anyway it bound to come back up, even a little and in the short term- this is an extreme market reaction I dont think its going to representative of a consistant drop, I mean it recovered over half of what it lost in a matter of minutes, plus it was at the end of the trading day. I wouldnt be surpirsed if markets came back up another 1-2% tomorrow.

    but nobody knows, so to that person who wants advice about buying dollars, sorry but nobody can tell you mate. If we could we'd be billionaires.

    I dont understand that post about "Greek Euro's", surely a euro is a euro, it doesnt matter where its printed, theyre all worth the same. Sounds like conspiracy theory stuff to me. Plus theres no way Greece would be approved for 110 billion bailout if they were about to secede.


  • #49
    L.Jenkins
    Moderators, Computer Games Moderators, Technology & Internet Moderators Posts: 19,242 Mod ✭✭✭✭L.Jenkins


    Dow Jones shed 900 points, Columbian Coke Merchants will be píssed!


  • #50
    Caoimhín
    Closed Accounts Posts: 3,789 ✭✭✭Caoimhín


    PK2008 wrote: »
    this is an extreme market reaction I dont think its going to representative of a consistant drop

    I believe, or i am led to believe that a large shareholder in Procter and Gamble dumped a massive volume of shares. This caused the market to panic for a few hours but it will be back up by the time the Asian markets open.


  • #51
    starbelgrade
    Closed Accounts Posts: 20,739 ✭✭✭✭starbelgrade


    Caoimhín wrote: »
    I believe, or i am led to believe that a large shareholder in Procter and Gamble dumped a massive volume of shares. This caused the market to panic for a few hours but it will be back up by the time the Asian markets open.

    Procter & Gamble always makes me think of a bookie with his finger up his ass.


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  • #52
    m5ex9oqjawdg2i
    Closed Accounts Posts: 11,217 ✭✭✭✭m5ex9oqjawdg2i


    I don't understand any of this shít...


  • #53
    PK2008
    Registered Users, Registered Users 2 Posts: 2,219 ✭✭✭PK2008


    Caoimhín wrote: »
    I believe, or i am led to believe that a large shareholder in Procter and Gamble dumped a massive volume of shares. This caused the market to panic for a few hours but it will be back up by the time the Asian markets open.

    P&G is good stock though, I cant imagine anyone dumping it.

    I think (imo) there must have been a mad chain of events.

    The Dow was primed for selling after going through 11,000 and American investors were getting ready to sell to protect themselves from the Greek issue, then a trader puts in a wrong figure or makes some kind of input mistake, the automated trading programmes react and start selling like crazy and maybe the bid systems fail which doesnt balance the selling(?), if theres no bids coming in and sales go unchecked with bids it would make sense that they would drop off the cliff, plus the rebound was so sharp its like someone just pressed the on button on the automated bid system.

    Sounds like a clusterf**k to me, either way theres no way some of the daily lows were anywhere near reality.


  • #54
    mojesius
    Registered Users, Registered Users 2, Paid Member Posts: 4,431 ✭✭✭mojesius


    Nikolas Jolly Skillet wrote: »
    I don't understand any of this shít...

    +1. Me neither. But this Dow chap sounds like a right w*nker.


  • #55
    PK2008
    Registered Users, Registered Users 2 Posts: 2,219 ✭✭✭PK2008


    Nikolas Jolly Skillet wrote: »
    I don't understand any of this shít...

    You'll find yourself at home here so, none of us do


  • #56
    Caoimhín
    Closed Accounts Posts: 3,789 ✭✭✭Caoimhín


    PK2008 wrote: »
    Sounds like a clusterf**k to me, either way theres no way some of the daily lows were anywhere near reality.

    Thats about right. The markets are so nervous lately that they panic at the first sign of bother.

    Id buy P&G shares in the morning if i had money, alas i have to get the van serviced... :(


  • #57
    starbelgrade
    Closed Accounts Posts: 20,739 ✭✭✭✭starbelgrade


    The stock market is really just like any other marketplace - it facilitates the exchange of goods between interested parties and works to reduce distribution costs and set prices.


  • #58
    Caoimhín
    Closed Accounts Posts: 3,789 ✭✭✭Caoimhín


    PK2008 wrote: »
    You'll find yourself at home here so, none of us do

    Its not that hard. Think of it as a farmers market but lets say all the stalls run out of carrots, then the value/price of carrots goes up because of the scarcity. Or, there is a bumper crop of turnips, the place is full of turnips so the price falls.


  • #59
    starbelgrade
    Closed Accounts Posts: 20,739 ✭✭✭✭starbelgrade


    Caoimhín wrote: »
    Its not that hard. Think of it as a farmers market but lets say all the stalls run out of carrots, then the value/price of carrots goes up because of the scarcity. Or, there is a bumper crop of turnips, the place is full of turnips so the price falls.

    And never put your turnips in the same basket as your eggs.


  • #60
    PK2008
    Registered Users, Registered Users 2 Posts: 2,219 ✭✭✭PK2008


    Accenture for 1 cent and then back up to $40!!!!!!!
    Thats 4000% return, if you bought $10 worth you would have made $40,000!!!!

    (is that right? Im tired, Im going to bed)

    Someone made a fortune today in a matter of minutes


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  • #61
    Absurdum
    Closed Accounts Posts: 4,444 ✭✭✭Absurdum


    uh oh, looks like Skynet has become self-aware and started trading :eek:


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