B instead of M keyboard mistake- give me a break

MrEnglish

Typed Billions instead of millions, if you believe that you will believe anything.

Its not one guy making one mistake on a keyboard, come on lets grow up about this. This is far bigger than that.

They call it a fat finger mistake, yeah right.

The system is so rigged.

chucky

MrEnglish wrote: »

Typed Billions instead of millions, if you believe that you will believe anything.

How do you know, where you there when it didn't happen or have you inside knowledge on this conspiracy?

[Deleted User]

well, there is only 1 key between B and M on the keyboard

ILW

Apparently some guy made some sort of £1000 bet on the market and due to this mistake earned £350,000. Not sure how it all works but does seem a little iffy.

mbga9pgf

ILW. Depends on his leverage.

For every chancer like that, there will be hundreds of thousands that got stopped out on margin and lost an absolute fortune.

Pretty much anyone long in the stock market with leverage I reckon will have been stopped out; a 1000 point drop is a fair few stadard deviations from what people would normally consider... especially if they were using the likes of elliot wave theory.

ILW

mbga9pgf wrote: »

ILW. Depends on his leverage.

For every chancer like that, there will be hundreds of thousands that got stopped out on margin and lost an absolute fortune.

Pretty much anyone long in the stock market with leverage I reckon will have been stopped out; a 1000 point drop is a fair few stadard deviations from what people would normally consider... especially if they were using the likes of elliot wave theory.

Thanks for that, now I understand, possibly.

Really2

It could have meen a bistake.

MrEnglish

Anyone who believes conspiracy theories like this also believe they have aliens at area 51, the Queen killed Diana etc etc.

The nice government men came up with a good one this time, fat fingered conspiracy theory. I suppose the market is free and fair and not rigged at all then?

When I returned to my office and on the Internet my mate had pulled up Money Central at msn.com. One side headline whined, "Trading error reportedly blamed." I fell off my chair and rolled on the dusty plastic mat laughing. What brilliant propagandist in DC thought that honker up?

A little time later the Dow was cruising along down about 170 points when an Unseen Thumb and Forefinger pulled the plug. Next anybody knew the Dow had plummeted 1,000 points to 9,869.62. It was down 998.5 points or 9.2%, at which juncture the Nice Government Men swung into action and manipulated the market up 650.7 points in less than an hour. Great work, fellows! The Dow closed down only 347.8 points at 10,520.32. S&P Low came at 1065.79, down 100 points or 8.5%. It closed at 1128.15, down 37.72 or 3.4%.

Ahh, friends, that don't happen in nature.

Let me dose you with a little perspective. On 19 October 1987 the Dow fell 508 points or 22.6%. 28 October 1929, fell 6.3%. Next trading day, 28 October 1929, fell 12.7%. On 29 October the Dow fell another 11.7%. On 4 Nov 1929 it dropped 5.8%, then another 9.9% next trading day. So today's low down 998.5 points was a 9.2% drop, ranking right up there with the really big ones.

For all intents and purposes today's low hit the February low, and fell far below the 200 DMA, now at 10,184.89. That's it, the breakdown from the broadening top. Gurus and paid pimps will tell you 'tis only the backwash of the passing Greek crisis. Greek, Schmeek -- that may have served as the catalyst but the weakness was already festering and 'twas the weakness that broke down, not Greece.

Now the sirens of Wall Street will do their best to sing a lovely song to drown out today's cacophony, but stop your ears! Stay out of stocks.

If I were the Nice Government Men and "tasked" (as they like to say in Governmentspeak) with keeping the leaky stock market afloat, I would be working overtime tonight calling hedge fund and pension fund and mutual fund managers and company presidents and ordering them to buy stocks like mad tomorrow or face SEC and EPA problems the rest of their natural lives. Ergo, be ye not surprised if stocks recover sharply tomorrow. 'Twill make now a whit of difference: the silver thread has been cut, the crystal bowl shattered, the milk spilt, the barbecue sauce poured down the drain. What comes next, despite all the camouflage, persiflage, and decoupage from Wall Street & its kept media, will be lower stock prices. It may sound obvious, but stating the obvious is my only poor gift but a valuable one in an Age of The Numb: stock market rallies do not begin with thousand point drops.

As I was thus musing, I happened to read an e-mail from a subscriber who wrote about today's stock market results: "Chauncey Gardner would now say, `The roots are now severed.'" Again, I hooted and hollered. He alludes to the movie, Being There. Video clip at http://www.youtube.com/watch?v=YgGvd1UPZ88&playnext_from=TL&videos=oA4JpU4caxM.

Laugh yourself sick.

Jonbvn

MrEnglish wrote: »

... Stay out of stocks. .

So we should invest in your shiney precious? Why do all you bugs ramble so much and always use a youtube clip?

purch

Nice bit of cut n pasting.

We all know you don't understand a single word of it !!!

MrEnglish

Jonbvn wrote: »

So we should invest in your shiney precious? Why do all you bugs ramble so much and always use a youtube clip?

Did you watch it?