Why did we stop at down 998 Dow pts?

Quote from nazzdack:

1) Yah, what a difference a generation makes. Back then, it was merely a "scare". Today, it would really be the end of the world. :eek: :(
2) Do they still use 150 to 200 for that VIX peak? :confused:
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Actually, it was quite the panic from everything I've heard (I barely remember it since I was in high school then). However, I'm sure the Internet would spread the panic much faster these days. 172 peak according to that blog.
 
Quote from ramora:

What bank or institution was the first to start buying or was it just a large quantity of resting orders at the bottom that held the decline???? How did the reversal take place and why was it successful when previous attempts to halt the selling did not?

Thank you,
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Perhaps the market just ran out of sellers.
 
Probably bunch of buying orders waiting at -1000, and those stupid market makers did not want to fill those orders. But, MM were MIA that day, who knows?
 
The idiots who were running the computers and were trying to auto-short everything finally figured out there was a problem when they were getting filled at .01 - and that was when the DOW was -998.
 
Quote from nxsux:

Actually... the halt on the NYSE would have been about down 2150. Then the exchange would have closed for the day.
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There are other halts for 10 min, 15, etc. The day halt is like the 3rd or 4th step.
 
on April 26 the ES hit the 61.8 Retracement of the Oct 07/ Mar 09 decline resulting in
the end of that rally and the beginning of the decline - to other fibo levels

the question is if the top on the 26 was wave 5, or B of an ABC - now in the process of
completing C - wave 4, prior to a HH wave 5
 

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Quote from Specterx:

Perhaps the market just ran out of sellers.
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Perhaps. Or, buying started to pick up, which would lead me to think it was PPT getting involved. I don't think it's likely that there were a bunch of orders waiting in the market to buy down around that price
 
If you wanted to do a proper analysis, you would measure the basis of the index components and the index itself on the 6th...

Something tells me there is nothing "suspicious" about it.
 
2 matters associated with the drop and speed of:
first is that there's no common controls of the several markets, this is being discussed
this week with reps from 'all' countries markets meeting with US markets officials
second is that while much of the trading today is computer generated, unlike Germany
for example US market regulation and others still depend on human intervention rather
than having such regulation - activating slowdowns, pauses, halts being done not by
human intervention/committee but computer programs
 
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