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Mid-day market Crash was it really a Hacked account?

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April 23, 2013 – Comments (12) | RELATED TICKERS: TQQQ , SQQQ , QQQ

After witnessing numerous manipulations in the market the last 20 years, it makes me very skeptical.

Someone got squeezed on the short-side and found a way out. How convenient that a Hacker did it on a day the market is up triple digits.

 

Remember the other market flash crash a few years ago, which caused the DJIA to drop 1,000 points intraday?

This one only had a 300 point total swing so no one is gonna bother looking into I guess.

12 Comments – Post Your Own

#1) On April 23, 2013 at 7:09 PM, awallejr (85.54) wrote:

Wouldn't surprise me if this was true.  I have to believe many got hurt with their stop losses in place.  I never use them especially since the flash crash.

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#2) On April 23, 2013 at 7:36 PM, HarryCarysGhost (99.69) wrote:

Sounds about right, weirdest thing I heard was that the algorythms  are actually programmed to follow twitter and social media.

How crazy is that, I would like to see the big boys at GS,JPM,etc... be totally screwed by their own technology they put in place to manipulate the market. (I can dream can't I)

(personal note- I set my limit orders too low, down 1,000 intraday woulda done the trick. So no trades were made on my part)

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#3) On April 23, 2013 at 7:39 PM, SuntanIronMan (99.93) wrote:

Certainly wouldn't surprise me if that were the case, but it being just some teenage hacker with little financial motive also wouldn't surprise me. Either is possible.

Just another reason not to pay attention to the intraday movements of the stock market (and not to use stop losses). I learned about the drop hours after it happened. No opportunity for me to panic and sell everything I own. I wouldn't have done that anyway (at least I hope not, human nature though...), but not knowing removed any temptation to do so.

I find myself being a better investor now that I have stopped watching CNBC and whatnot during trading hours. There is very little that happens intraday that should require you act immediately. The next day often presents better opportunity to buy or sell any given piece of news; with a clear head and hours to decide what the right move should be

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#4) On April 23, 2013 at 11:53 PM, jiltin (27.85) wrote:

From Jan 2013, stocks are crazily going up. True, if a splash news provides 153 points suddenly, I am skeptical with the strength of market. 

 

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#5) On April 24, 2013 at 12:15 AM, SuntanIronMan (99.93) wrote:

@jiltin

A sudden drop and sudden rebound tells us very little about the actual strength of the market (strong or weak). All it tells us is how fast the high-frequency traders' computers are able to trade in or out of their extremely short term positions.

 

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#6) On April 24, 2013 at 8:21 PM, TMFAleph1 (94.91) wrote:

So many theories -- it must be a full moon.

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#7) On April 24, 2013 at 9:12 PM, HarryCarysGhost (99.69) wrote:

Alex so your stance is HTF simply does not exist?

Of course GS had nothing to do with this, or every minor and major market meltdown since before the depression.

Of course not, nothing to see here, move along...

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#8) On April 24, 2013 at 9:56 PM, TMFAleph1 (94.91) wrote:

My stance is that Goldman Sachs is responsable for everything -- inside and outside the financial markets (except for those phenomena that are the work of the Masons, the Illuminati, Skull and Bones, the Bilderberg Group, the Council on Foreign Relations, the Trilateral Commission, etc)

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#9) On April 24, 2013 at 9:59 PM, TMFAleph1 (94.91) wrote:

Of course, all the groups mentioned above (and others) ultimately pay tribute to our reptilian overlords.

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#10) On April 25, 2013 at 12:30 AM, awallejr (85.54) wrote:

Alex you are being silly as usual.  The jails are full of people for a reason. There are crooks.

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#11) On April 25, 2013 at 10:28 AM, L0RDZ (82.16) wrote:

Awall  I  honestly  think he's  being serious  about

#8#9

We  are only muppets  please pull our strings  and  make our  mouths  work,  tell us  what to say.

I must admit when I heard someone  beat up Bernie in prison, it  did bring a  smile to my face,  he  was  running his mouth and someone  decided to shut him up. 

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#12) On May 04, 2013 at 2:22 PM, HarryCarysGhost (99.69) wrote:

Of course, all the groups mentioned above (and others) ultimately pay tribute to our reptilian overlords.

At least you paid All Glory to The Hypnotoad,

So you have a basic understanding of how the world works.

 

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