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Old 05-06-2010, 02:03 PM
 
Location: Central Alberta
156 posts, read 361,549 times
Reputation: 73

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Wow.. Bounced back above 10,000 now. Vix up 50%..
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Old 05-06-2010, 02:06 PM
 
Location: Sierra Vista, AZ
16,514 posts, read 21,962,850 times
Reputation: 8720
The DOW is NOT the Economy.
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Old 05-06-2010, 02:07 PM
 
Location: Atlanta, GA
1,194 posts, read 1,908,981 times
Reputation: 816
Thank you plunge protection team..
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Old 05-06-2010, 02:13 PM
 
Location: Business ethics is an oxymoron.
2,166 posts, read 2,600,866 times
Reputation: 4845
That we have a "plunge protection team" (and conversely NO "bubble protection" one) indicates just how goosed, artificial, and manipulated it is in the first place. I guess some peoples idea of a "free market" is an imposed floor limit on a down day but skies the limit on an up one.

That it went down almost a thousand points to almost break even in the span of an hour shows just what a crock it is.

My only disappointment (as of this writing) is that it hasn't fallen THREE thousand. And stayed there.

*yawn*
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Old 05-06-2010, 02:27 PM
 
Location: San Diego California
6,797 posts, read 6,624,776 times
Reputation: 5180
Plunge protection exists to protect the rich, and the institutions, not the individual investor. The stock market is no longer ruled by the laws of supply and demand. It is controlled by GS supercomputers which make it simply a casino with GS as the house.
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Old 05-06-2010, 02:28 PM
 
Location: I'm gettin' there
2,666 posts, read 6,643,384 times
Reputation: 817
One thing is certain, when it goes down, IT GOES DOWN !!
It might inch up everyday to a cumulative 1000 pts in 2 months, but it takes 30 minutes to wipe it out.... !!
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Old 05-06-2010, 02:32 PM
 
Location: Oak Point, TX
7,593 posts, read 12,499,699 times
Reputation: 4570
The trading curb was introduced after the crash of 1987 to keep things from going totally spazzed.
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Old 05-06-2010, 02:57 PM
 
Location: San Diego California
6,797 posts, read 6,624,776 times
Reputation: 5180
Quote:
Originally Posted by little elmer View Post
The trading curb was introduced after the crash of 1987 to keep things from going totally spazzed.
There is a difference between curbs on trading and a team designed to pump up falling markets.
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Old 05-06-2010, 02:59 PM
 
Location: Oak Point, TX
7,593 posts, read 12,499,699 times
Reputation: 4570
Quote:
Originally Posted by jimhcom View Post
There is a difference between curbs on trading and a team designed to pump up falling markets.
They don't go to college for nothing...
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Old 05-06-2010, 04:14 PM
 
723 posts, read 2,013,856 times
Reputation: 925
I heard on another board that it was just a trader who fat-fingered (m)illions instead of (b)illions.

Oh and the greece riots.
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