Jim cramer "that cant be there, that is not a real price"!!!!!

S

S2007S

1:11-1:13 seconds

Hmmmm

So P&G cant be $47 a share!!!!




Dow's 998 Point Plunge — Watch How It Happened
Published: Thursday, 6 May 2010 | 6:11 PM ET
Text Size
By: CNBC.com staff



The Dow swung wildly on Thursday, losing as much as 998.50 and boomeranging back hundreds of points to close down 347.80, or 3.2 percent, at 10,520.32.

Theories abounded, including anxieties over Greece and the Eurozone. But the biggest intraday drop on record may have been triggered by an erroneous trade.

Video: Watch in "real time" as the market slides — and Jim Cramer spots a mistake.


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Try this:

Alot of munchkins out there view the specialist as some kind of clerk, there as a public service, to maintain a fair and orderly market; and, due to decimalization, ecn's, etc, is near extinction.

He's the man that opens the stock. Call that latitude.

I'm going to suggest the fast slide from -500 to -900 and back again, which could literally be measured in seconds, was specialist/MM's, in concert, covering their shorts.

Possiblly also long. Possibly not. Cleaned out all the stops all the way down to pick up inventory. Too fast for Joe Sixpack to react. Besides he may have been scared shitless. Too fast for most institutions (mutual funds pensions, insurance companies to react). That's assuming they don't select via committee process.

Conspiracy theory? Naw, just the way things are. An an excellent alibi with Greek film footage of riots. Does Greece really impact YOU? Other than Forex, not really.

900 point move should be a six sigma event.

Can you ponder the magnitude of the dollars involved? Mutliply the aggregate dollar price moves by outstanding shares (or just volume traded).

Blaming it on black box program trades? There's ALWAYS somebody on the other side of the trade.

Ahh, we gotta blame somebody, don't we? Black box, Greece, oil spills, but not the kindly old order clerk with the green eyeshade soon to be a thing of the past.

Cramer? LOL
 
Quote from efficiency:

Try this:

Alot of munchkins out there view the specialist as some kind of clerk, there as a public service, to maintain a fair and orderly market; and, due to decimalization, ecn's, etc, is near extinction.

He's the man that opens the stock. Call that latitude.

I'm going to suggest the fast slide from -500 to -900 and back again, which could literally be measured in seconds, was specialist/MM's, in concert, covering their shorts.

Possiblly also long. Possibly not. Cleaned out all the stops all the way down to pick up inventory. Too fast for Joe Sixpack to react. Besides he may have been scared shitless. Too fast for most institutions (mutual funds pensions, insurance companies to react). That's assuming they don't select via committee process.

Conspiracy theory? Naw, just the way things are. An an excellent alibi with Greek film footage of riots. Does Greece really impact YOU? Other than Forex, not really.

900 point move should be a six sigma event.

Can you ponder the magnitude of the dollars involved? Mutliply the aggregate dollar price moves by outstanding shares (or just volume traded).

Blaming it on black box program trades? There's ALWAYS somebody on the other side of the trade.

Ahh, we gotta blame somebody, don't we? Black box, Greece, oil spills, but not the kindly old order clerk with the green eyeshade soon to be a thing of the past.

Cramer? LOL
More...

Will you please stop talking about specialists like they even matter anymore!

Seriously, I think you must have done your last real trade in 1988.
 
Quote from Ghost of Cutten:

Wow Cramer made a winning call, 20% in 1 minute, that was one heck of a scalp - shame it was on paper!
More...

Most of those trades during those minutes probably will be canceled.



The Nasdaq said late Thursday that it would be canceling certain trades that occurred between 2:40 PM and 3:00 PM ET. The stocks involved were not yet known.

"We have coordinated a process among US Exchanges and therefore, pursuant to rule 11890(b), NASDAQ, on its own motion, will cancel all trades executed between 14:40:00 and 15:00:00 greater than or less than 60% away from the consolidated last print in that security at 14:40:00 or immediately prior," the exchange said in a statement. "This decision cannot be appealed. NASDAQ has coordinated this decision with all other UTP Exchanges. NASDAQ will be canceling trades on the participant's behalf. The stocks affected and the break points will be disseminated shortly."
 
Quote from Clubber Lang:

Will you please stop talking about specialists like they even matter anymore!

Seriously, I think you must have done your last real trade in 1988.
More...

You don't even know WHO you trade against, fuckhead.

Yep, specialst/ market maker. That's who determines price. Limit orders (that fill) may offset but ............ALL market orders go to him.

Every single one is filled out of inventory or....... aquired for inventory. Period. He's the one who opens the stock regardless of 24 hours, ecns, regional exchanges. "He'll" be determining price tommorw morning.

Due to being exempt from Fed Regs T & U (since 1949) among other things, "he" can trade with 20 to 1 leverage. You can't.

CEO's come and go fuckhead, but the specialist is the entity most married to the stock. Decades.

I did my last real trade this morning (before the carnage). Out of a Chinese stock (yes fuckhead, at a loss) . And my shorts in Monsanto and some biotechs did quite nicely, thank you. In contrast to the Lehman slde, I fared quite well today. I attribute the smile on my face to successfully determining which side the specialist was on at THIS point in time. Biggest slide since '87 Let's see, about then, you were, what, trying to figure out what that marble between your legs was for?

You kinda remind me of Afghanstan/Iraq. You don't even know WHO your enemies are....... Clubber. Or is it blubber?
 
Quote from S2007S:

Most of those trades during those minutes probably will be canceled.



The Nasdaq said late Thursday that it would be canceling certain trades that occurred between 2:40 PM and 3:00 PM ET. The stocks involved were not yet known.

"We have coordinated a process among US Exchanges and therefore, pursuant to rule 11890(b), NASDAQ, on its own motion, will cancel all trades executed between 14:40:00 and 15:00:00 greater than or less than 60% away from the consolidated last print in that security at 14:40:00 or immediately prior," the exchange said in a statement. "This decision cannot be appealed. NASDAQ has coordinated this decision with all other UTP Exchanges. NASDAQ will be canceling trades on the participant's behalf. The stocks affected and the break points will be disseminated shortly."
More...

Very few trades are being cancelled. Most of the ones getting cancelled were illiquid ETF's/stocks.

AAPL printed 200, PG printed in the 40's, hundreds of other stocks/ETF's printed 30-59% down and those trades stand.
 
How are you supposed to even trade when the bid/ask on a stock shows .08 ask / 39.56 bid

You know the system is screwed, so what's the point of buying shares at 8 cents only to have them cancelled later?

DO you trade?



Quote from efficiency:

Try this:

Alot of munchkins out there view the specialist as some kind of clerk, there as a public service, to maintain a fair and orderly market; and, due to decimalization, ecn's, etc, is near extinction.

He's the man that opens the stock. Call that latitude.

I'm going to suggest the fast slide from -500 to -900 and back again, which could literally be measured in seconds, was specialist/MM's, in concert, covering their shorts.

Possiblly also long. Possibly not. Cleaned out all the stops all the way down to pick up inventory. Too fast for Joe Sixpack to react. Besides he may have been scared shitless. Too fast for most institutions (mutual funds pensions, insurance companies to react). That's assuming they don't select via committee process.

Conspiracy theory? Naw, just the way things are. An an excellent alibi with Greek film footage of riots. Does Greece really impact YOU? Other than Forex, not really.

900 point move should be a six sigma event.

Can you ponder the magnitude of the dollars involved? Mutliply the aggregate dollar price moves by outstanding shares (or just volume traded).

Blaming it on black box program trades? There's ALWAYS somebody on the other side of the trade.

Ahh, we gotta blame somebody, don't we? Black box, Greece, oil spills, but not the kindly old order clerk with the green eyeshade soon to be a thing of the past.

Cramer? LOL
More...
 
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