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

[superman]

Can anyone say in simple words what happened which caused this sudden moment ?

How can the computer algorithm and program of big companies playing with share do such a mistakes ?? And that too many programs at a time ..?
Was it a REAL crash recovered ..?

 

[bunny]

Can anyone say in simple words what happened which caused this sudden moment ?

How can the computer algorithm and program of big companies playing with share do such a mistakes ?? And that too many programs at a time ..?
Was it a REAL crash recovered ..?

Basically, all big traders used the same reference levels and same setup to trade. As a result of this, there was a sudden rush of huge selling orders. Since these big guys were selling and there was no support to buy, the price fell down rapidly.

 

[learn2trade_ar]

It went down like over 8% and then recovers sharply... boy you are going to see 4950 by tomorrow


Short wale disco... longs wale khisko...

I saw it at 8.75% down and immediately woke my wife up...it was scary

 

[findvikas]

Basically, all big traders used the same reference levels and same setup to trade. As a result of this, there was a sudden rush of huge selling orders. Since these big guys were selling and there was no support to buy, the price fell down rapidly.

While I am still in States and this is the biggest rumor out here, had couple of friends talking and what they heard had happened... some dumb big fish had to put an order to sell P&G in couple of million quantity but instead he put it in billions "by mistake"... usually when big fish dumb in large quantity they do so for breaking 1-2 support level or resistance levels.. but this guy did it so badly that it broke all the supports and made it a free fall to clean up entire order book... within few seconds he eat all the buyers and no buyers left in the market for P&G which hit the rock bottom... being automated trades and seeing huge volume coming into a particular stock all others robots started to dump their holdings in every counter which lead to a broad based selling...

as soon as this dumb guy noticed his blunder he buy back at whatever price he could which created another heavy volume and all selling robots become net buyers once again.. and ready to buy whatever market has to offer...

while these stand rumors P&G's trade is surely pointing fingers to NYSE's automated trading servers which could sink the US economy in 5 mins..

Investors loose nothing but for sure many hedge funds lost their bread and butter in this massive selloff