Wow... Did anyone saw that??? Dow down by 1000 points ... holly crap !!!

[loke4300]

I was watching it fall down all the way to 4000-3000 and then touched 1000 but managed to close near 2500...

With circuits in place, i wonder how that would be possible in one trading session. Well, it is your dream anything can happen

would be nice to see 1000 in Nifty for investment purposes.

a major terrorist attack or some sort of huge atomic blast somewhere in country...

Sorry if my nightmare scared you but yeah thought I would share it with you all..

I just pray that this remains a dream.

 

[findvikas]

I know.... the last part was terrible and woke me up... dont want to even remember that... wish everyone a healthy wealthy life...

 

[findvikas]

I think this was the bomb my dream was talking about...

 

[sudoku1]

the dow glitch>

If there is anything that a trader can do well, I say let him do it. Give him a chance.

 

[niftytrader99]

yes, i saw the Dow Crash.. it was horrible.. for 2 mins, I was not able to believe that the crash actually happed.. i thought yahoo finance got messed up but i quickly checked twitter and other websites and it was true.. well the next though was indian markets are going to fsked up due to the Dow fall but in sometime it started to climb up again.. that was relaxing but still that was an experience i can never forget as i only heard abt the 1987 crash and never saw something like this. prices going down so fast, I wanted to laugh because i was short on nifty but not at one moment i felt like laughing during the crash time.. it felt as if things are going to be worst again..

 

[kkeskar92]

I was watching the GBP/JPY pair and also NASDAQ, FTSE and DAX.
GBP/JPY pair fell for 1000 pips from 140 to 130 and then bounced from 130 to 136.
NASDAQ and FTSE, DAX have come back to jan levels erasing the whole nice uptrend.

The computer driven automated trading is blamed for this. However, I read some comment on reuters website that the fall was real crash and the fed, governement and treasuries bought the stock and prevented the crash.


Here it is.

THE TRUTH : Market collapsed for real. The govt, fed and treasury jumped in to take it back to higher levels. The so called quarterly profits of govt funded banks depends on the stock market value.

Watch this will happen again in next few weeks. But then the govt will run out of means to buy the shares and bring it back up.

WATCH IT : Sell as quick as you can.

 

[shanki99]

Yes me too watched it LIVE on Bloomberg UTVI

Actually i was watching the SA T20 match...they were hitting all around the place and towards the fag end of SA innings, i just switched channel.

I saw Dow ws down around 350 pts, then they were showing clippings of armoured vehicles with scores of policemen around. As i watching this from my bedroom TV, sound was mute.

Since it was down round 400 pts, i got interest and continued to watch, then that mad thing happened....it just crashed below 10000. I think the last 100 pts just went down in just couple of seconds.

Immediately i thot, it was some bomb blast happened and that is the reason for so many policemen on the streets. Then it struck me that policemen were actually roaming in night, whereas it shud be day in US....then i realised they were showing Greece live side by side.

It recovered quickly....but i missed the final over of SA innings

So dramatic, i woke my wife and told her, she never bothered....as usual

 

[Shilpa.Magdum]

good one for short position

 

[findvikas]

Govt. cannot decide to jump in within 5 minutes... the entire drama was over in 5 real minutes.... yes 5 minutes.

NYSE has predefined circuit breakers and Obama, Osama, or anyone will not jump in these small 10% crashes... yes NYSE has 30% crash breaker only which can halt the trading so that means they expect 30% as the crash and not 10%

See this interesting thing to know why it did not go more than 1000... because 1050 was the circuit breaker for DOW

then look at the volume. The volume really kicked in at 2 pm, and then again at 2:35 the cliff started forming. That’s just way to coincidental??? That’s computers timing the market with full knowledge of what they are capable of and the rules that constrain them.


More here... (not my blog)

h t t p ://stocks-bonds-currencies.blogspot.com/2010/05/program-trading-in-falling-market.html



“at 14:35 when the support was broken volume really took off in a free fall to the day’s bottom.”

 

[findvikas]

Market closed (ok almost..its 3.29pm) and I am happy that I will be back in India on Monday... yeppiiee... see ya then happy weekend.