Use access key #2 to skip to page content.

IBDvalueinvestin (99.68)

Worst Intraday Drop since "1987"

Recs

12

May 06, 2010 – Comments (46)

God we all know who made out like bandits that day, the buyers not the sellers..

46 Comments – Post Your Own

#1) On May 06, 2010 at 2:59 PM, brickcityman (< 20) wrote:

Kicking myself for not being quick enough on CNP!!!!

Report this comment
#2) On May 06, 2010 at 3:04 PM, catoismymotor (33.79) wrote:

Look @ EPI!     HOLY COW!!!

Report this comment
#3) On May 06, 2010 at 3:17 PM, MoneyWorksforMe (< 20) wrote:

Wow. Too many investors have a significant amount of "equity-pain" imprinted in their short term memories. This is incredible. Just goes to show ya the importance of having a large sum of cash on the sidelines to buy heavily at times such as this--even if you're bullish equities prior to the sell-off. If I had the cash I'd be buying faster than they are selling.

Report this comment
#4) On May 06, 2010 at 3:19 PM, catoismymotor (33.79) wrote:

TMF had EPI at -33% fifteen minutes ago. Now it is shown as being -5.5%.

Report this comment
#5) On May 06, 2010 at 3:24 PM, TMFUltraLong (99.95) wrote:

What I was able to do today should be illegal! I was able to jump in and out of what had/has become a highly illiquid SPY call option in a matter of seconds. I've been able to do this multiple times today for 30% gains... in seconds!!! This should be illegal, but it is nonetheless an unprecedented last hour.

UltraLong

Report this comment
#6) On May 06, 2010 at 3:27 PM, IBDvalueinvestin (99.68) wrote:

X is one stock that rebounded quickly but if Credit crunch worries in Europe are true, I would stay away from stocks that depend on Huge credit to sell their products like steel companies.

 

Steel buildings need Credit to be built. Credit crunch is back.

Report this comment
#7) On May 06, 2010 at 3:33 PM, outoffocus (22.85) wrote:

Today will go down in history as Holy So Happy Its Thurs Day.

Report this comment
#8) On May 06, 2010 at 3:45 PM, rexlove (99.43) wrote:

One of my favorite stocks PVR was down probably more than 50% today and rebounded to down 10%. What a crazy move - if I had been watching I would have loaded up. 

Report this comment
#9) On May 06, 2010 at 3:47 PM, ragedmaximus (< 20) wrote:

it was a computer glitch and a big cover up!

Report this comment
#10) On May 06, 2010 at 3:48 PM, IBDvalueinvestin (99.68) wrote:

Infrastructure spending in the "PIGS" Portugal, Italy + Ireland, Greece, Spain. Is now gonna come to a screaching halt. Bad news for Heavy construction and steel industry as those countries have to lower spending not increase it.

 Greece will be forced to lower spending by IMF rules.

Report this comment
#11) On May 06, 2010 at 3:48 PM, ragedmaximus (< 20) wrote:

all stocks had a mister toads wild ride thanks to a computer glitch

Report this comment
#12) On May 06, 2010 at 3:49 PM, ragedmaximus (< 20) wrote:

look up any stock find a similarity????? too widespread to be real!

Report this comment
#13) On May 06, 2010 at 3:52 PM, IBDvalueinvestin (99.68) wrote:

ragedmaximus it was real. I watched the trades happen on my screen.

Report this comment
#14) On May 06, 2010 at 3:54 PM, ragedmaximus (< 20) wrote:

all  the money sites are now fd up cant use charts a conspiracy!

Report this comment
#15) On May 06, 2010 at 3:55 PM, ragedmaximus (< 20) wrote:

look up any stock you mean billions of people were watching and selling in that 1 minute i think not

Report this comment
#16) On May 06, 2010 at 3:58 PM, ragedmaximus (< 20) wrote:

whats the plan for tommorow

Report this comment
#17) On May 06, 2010 at 4:00 PM, ragedmaximus (< 20) wrote:

does anyone dare invest tomm

Report this comment
#18) On May 06, 2010 at 4:05 PM, ragedmaximus (< 20) wrote:

can anyone here find 1 stock that didint crash at 3 along with every other stock as to prove to me it wasnt a bs computer glitch theory so there are no stocks anyone would sell at that exact moment even brka dropped at that time and no brka investers would sell ever!

Report this comment
#19) On May 06, 2010 at 4:06 PM, cbwang888 (25.87) wrote:

It was all trading errors ... Banks and brokerage firms will refund you any trading losses today .... 

Or hackers attack trading computers and stream-out false market info ...

 

LOL ...

Report this comment
#20) On May 06, 2010 at 4:08 PM, rexlove (99.43) wrote:

It almost seems like a glitch. The move down and back up was probably less then 5 min. If you went to go grab a cup a coffee you would have missed the whole thing. It doesn't seem possible.

Report this comment
#21) On May 06, 2010 at 4:08 PM, ragedmaximus (< 20) wrote:

i was 99% cash today sold tuesday but i cant find one solid stock that didnt crash at that exact moment!

Report this comment
#22) On May 06, 2010 at 4:09 PM, ragedmaximus (< 20) wrote:

 look up any and all stocks impossible!

Report this comment
#23) On May 06, 2010 at 4:11 PM, clubbervision6 (< 20) wrote:

Thats why GS should back to 100 (first!) or follow Lehman Brothers!

Report this comment
#24) On May 06, 2010 at 4:12 PM, 1234MNKU (< 20) wrote:

HTRN

 

Report this comment
#25) On May 06, 2010 at 4:13 PM, IBDvalueinvestin (99.68) wrote:

ragedmaximus it was a market wide short attack combined with Panic selling. Even KERX which got FDA fast track for a cancer drug came crashing down. That stock should have been up minimum 20% today instead its barely green at +0.33

Report this comment
#26) On May 06, 2010 at 4:15 PM, UKIAHED (35.95) wrote:

Accenture - from $43 to $.01in ten minutes

No way this was not errors in the system.

Bloomberg reporting that AAPL traded at $100,000.00/shr for one trade.

Report this comment
#27) On May 06, 2010 at 4:15 PM, davejh23 (< 20) wrote:

raged, 

I see many very similar charts looking at individual stocks, but look at any list of biggest gainers for the day...it's not that hard to find stocks that didn't jump down like most did.  This wasn't a computer glitch.  It might have been manufactured, but it wasn't just some technical error. 

Report this comment
#28) On May 06, 2010 at 4:16 PM, IBDvalueinvestin (99.68) wrote:

serious 1 penny?

Report this comment
#29) On May 06, 2010 at 4:16 PM, outoffocus (22.85) wrote:

In other news, Gold freakin skyrocketed today. Now its sitting over $1200/oz. Yay gold!

Report this comment
#30) On May 06, 2010 at 4:18 PM, UKIAHED (35.95) wrote:

#28 - yep - bloomberg had the chart up for quite awhile.  NYSE now reporting numerous errors in trades...  which kicked off many automated trading programs...

Report this comment
#31) On May 06, 2010 at 4:18 PM, Pandorabelle (80.56) wrote:

Ragedmaximus...I watched the trading, too.  Of the 60 stocks I watch streaming, Teradata (TDC) closed up $1.10 or 3.76% and MacQuairie (MIC) closed up $.78 or 4.99%. 

Great buying opportunity. 

"significant amount of "equity-pain" imprinted in their short term memories."

The Chicken-Little mentality is disappointing to watch.  Flames the media fans to sell their medium. 

Report this comment
#32) On May 06, 2010 at 4:19 PM, UKIAHED (35.95) wrote:

BTW - if I had seen the trades in time - I would have just bought the company at .01/shr :)

Report this comment
#33) On May 06, 2010 at 4:21 PM, rexlove (99.43) wrote:

Yeah the move in Accenture ACN was ridiculous. This was more than just panic selling. Something really screwy happened today.

Report this comment
#34) On May 06, 2010 at 4:25 PM, rexlove (99.43) wrote:

I think I should put in a $.10 limit order for google. Maybe it will hit too. ;)

Report this comment
#35) On May 06, 2010 at 4:26 PM, ragedmaximus (< 20) wrote:

i was just refering to every stock at that exact moment i know they all rebounded but all at exact moment was just too much of a coincidence i am going to eat pizza hut pizza now 10 bucks best trade all day for me!

Report this comment
#36) On May 06, 2010 at 4:27 PM, Pandorabelle (80.56) wrote:

Hmmm...."really screwy" definitely sums it up. 

Like so many others, I have to wonder who has enough money to force the market into such chaotic gyrations...and if it is possible, what are the most effective defense tactics for us little girls (& guys)?

Report this comment
#37) On May 06, 2010 at 4:33 PM, ChannelDunlap (< 20) wrote:

My theory is that this is Goldman & friends flexing their muscles.  The SEC got serious with 'em and Goldman had to show them what they could do.  $10 says the case gets dropped/thrown out/ignored. 

Report this comment
#38) On May 06, 2010 at 4:39 PM, Pandorabelle (80.56) wrote:

I'll raise you $20.  Seems most agree that Abacus was unethical, but not illegal...a disturbingly gray area of CAVEAT EMPTOR.

Report this comment
#39) On May 06, 2010 at 4:50 PM, BlackshearCaptL (< 20) wrote:

They probably don't want to mess with financial markets after this.

 

SEC thought they were muscling goldman.

 

Goldman: 1

SEC: 0 

Report this comment
#40) On May 06, 2010 at 4:51 PM, BlackshearCaptL (< 20) wrote:

Best defensive tactic is to set buy orders at 0.01

 

Like the guy who bought accenture @ $0.01 

Report this comment
#41) On May 06, 2010 at 5:31 PM, SUPERMANSTOCKS (60.02) wrote:

That's it IM robbing a bank and buying all the shares of JOEZ tomorrow! NOT! Now that is a dead dog! However, the market will be up tomorrow

Report this comment
#42) On May 06, 2010 at 5:33 PM, SUPERMANSTOCKS (60.02) wrote:

Oh yeah before I forget. You know those guys that bought the day after and lost their behinds on that day in 1987. Well, they're all rich now. Same went for the big depression crash of the 1920s

Report this comment
#43) On May 06, 2010 at 5:59 PM, ragedmaximus (< 20) wrote:

  HA! front page news yahoo finance  TRADING GLITCH to blame!  I told you FOOLS!

 

 

 

Report this comment
#44) On May 06, 2010 at 6:11 PM, ragedmaximus (< 20) wrote:

watching cramer at 6pm he even said it was a computer glitch someone was trying to sell 15 million shares but put in 15 billion and cramer bought 50k shares of pg and sold 2 min later for 500k profit!

Report this comment
#45) On May 06, 2010 at 6:28 PM, ragedmaximus (< 20) wrote:

HOT OFF the press ALL TRADES between 2.40 and 3pm NULL AND VOID!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!NASDAQ!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Report this comment
#46) On May 07, 2010 at 12:14 PM, IBDvalueinvestin (99.68) wrote:

European mkts closed at day lows. Yes I know US mkts are rebounding right now but Europe is the real driver here, thats where the problem exists. Spain and Portugal debt problem could be next and then you also have Italy and Ireland too.

Report this comment

Featured Broker Partners


Advertisement