SHOW me the person who "fat-fingered" the trade that caused this crash.
- Thread starter wilburbear
- Start date
why? for following the trend? i'm sorry but today was what i'd like to say easy money.
Everything trended down. I made pretty much 1000 pips on EURUSD in 3 days.
EURJPY today alone dropped 1000 pips as well.
Best day ever indeed !
post your blotter
I agree. The exchanges had a big meeting to decide what to do after the close. It seems the not so great black boxes didn't know when to stop selling today. Those guys should totally eat their losses.
This "fat finger" B.S. is something dreamed up by the old moron brokers on the NYSE floor who know dick about trading but have tons of useless opinions. Those old coots think that desk traders at prop desks have God-like abilities.
The sell off in general is not a mistake. The market has been acting like nothing is wrong. Move along. Nothing to see here. Trouble is, everyone has an unsustainable level of debt. Moving it from the home buyer's balance sheet to the government's balance sheet doesn't make it any more sustainable.
People are worried. They should be.
NYSE say it was all normal due to electronic black box trading
http://www.elitetrader.com/vb/showthread.php?s=&postid=2830468#post2830468
http://www.bloomberg.com/apps/news?pid=20601087&sid=aktCEVdfmfys&pos=1
Electronic Trading to Blame for Plunge, NYSEâs Leibowitz Says
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By Chris Nagi and Matt Miller
May 6 (Bloomberg) -- Computerized trades sent to electronic networks turned an orderly stock market decline into a rout today, according to Larry Leibowitz, the chief operating officer of NYSE Euronext.
While the first half of the Dow Jones Industrial Averageâs 998.5-point plunge probably reflected normal trading, the selloff snowballed because of orders sent to venues with no investors willing to match them, Leibowitz said in an interview on Bloomberg Television.
âIf you look at the charts you can see fairly clearly where the trades came in,â he said from New York. âItâs that V-shaped drop where it came down and snapped right back up. You had some very high-cap stocks trading down 50 percent or large percentages in a split instant because there really was no liquidity in electronic markets.â
The selloff briefly erased more than $1 trillion in market value as the Dow average tumbled 9.2 percent, its biggest intraday percentage loss since 1987, before paring the drop
http://www.elitetrader.com/vb/showthread.php?s=&postid=2830468#post2830468
http://www.bloomberg.com/apps/news?pid=20601087&sid=aktCEVdfmfys&pos=1
Electronic Trading to Blame for Plunge, NYSEâs Leibowitz Says
Share Business ExchangeTwitterFacebook| Email | Print | A A A
By Chris Nagi and Matt Miller
May 6 (Bloomberg) -- Computerized trades sent to electronic networks turned an orderly stock market decline into a rout today, according to Larry Leibowitz, the chief operating officer of NYSE Euronext.
While the first half of the Dow Jones Industrial Averageâs 998.5-point plunge probably reflected normal trading, the selloff snowballed because of orders sent to venues with no investors willing to match them, Leibowitz said in an interview on Bloomberg Television.
âIf you look at the charts you can see fairly clearly where the trades came in,â he said from New York. âItâs that V-shaped drop where it came down and snapped right back up. You had some very high-cap stocks trading down 50 percent or large percentages in a split instant because there really was no liquidity in electronic markets.â
The selloff briefly erased more than $1 trillion in market value as the Dow average tumbled 9.2 percent, its biggest intraday percentage loss since 1987, before paring the drop
