Nasdaq P&G trades caused the plunge.
Procter&Gamble: Not clear why share price plunged
Procter&Gamble: Not clear why share price plunged
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Complete and utter bullshit...
Type in this journal with both hands on the keyboard and your tongue in your mouth....
NiN
I hope you perma-bulls were wise to use the emergency exit today. I wouldn't be surprised if some of you became an overnight millionaires (equally, I bet some of you blew up your account).
In any case, does anyone know why ES stopped at 1066.50? From TA standpoint, it makes no sense. Only thing that I can see is the low made on 02/09 but that's like throwing a damn dart on the wall since we bypassed all the other more important pivots.
BTW is there any lucky soul who caught the entire downdraft, let alone a big chunk of the reversal? Crap, how the hell is it possible to recover 70 points in just 10 minutes? As you might remember, we had a 100-point drop back in 2008 when the TARP did not pass in the Congress. But for days, everyone knew and was fully anticipating the drop if it didn't pass. Today's drop came out of nowhere!
In any case, does anyone know why ES stopped at 1066.50? From TA standpoint, it makes no sense. Only thing that I can see is the low made on 02/09 but that's like throwing a damn dart on the wall since we bypassed all the other more important pivots.
BTW is there any lucky soul who caught the entire downdraft, let alone a big chunk of the reversal? Crap, how the hell is it possible to recover 70 points in just 10 minutes? As you might remember, we had a 100-point drop back in 2008 when the TARP did not pass in the Congress. But for days, everyone knew and was fully anticipating the drop if it didn't pass. Today's drop came out of nowhere!
As noted above, we had a 100-point drop just after the Congress initially rejected the TARP funding. But this one is much different. First, unlike 2008, it came unexpectedly out of the blue. Second, it was very swift.
I'm sure there are those who have been trading longer than me, but in my 20 years I've never seen this kind of move. I thought the move in March of 2000 as well as the moves following the Lehman bankruptcy were pretty damn scary (but I wasn't "surprised"), but nothing in comparison to what I saw today.
check out this article:
http://www.marketwatch.com/story/pr...-said-contributed-to-market-plunge-2010-05-06
I see it as a very smart defensive move... every bloody stop on the books was just run... this makes it tougher to get prices lower on runaway stop cascades... now that stops are run - have to get it higher first 
AFAICT they did it before the bear was firmly entrenched... otherwise the miracle rebound after the stop run would not have been possible.
just my 2c
AFAICT they did it before the bear was firmly entrenched... otherwise the miracle rebound after the stop run would not have been possible.
just my 2c
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