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05-06-2010, 12:43 PM
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#1 | | RS.net, helping ugly ppl have sex since 2001
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| Stock market fell 1000 points instantaneously, may be due to trader typo
http://www.cnbc.com/id/36999483
One trader out there is probably shitting his pants right now for their little typo... Entered "Billion" instead of "Million"
Jim Cramer discussing live wtf was going on: http://www.cnbc.com/id/15840232/?vid...7022682&play=1
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Originally Posted by skyxx  Sonick is a genius. I won't go into detail what's so great about his post. But it's damn good! | 2010 Toyota Rav4 Limited V6 - Wifey's Daily Driver
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05-06-2010, 01:48 PM
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#2 | | Banned (ABWS)
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lol shit
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05-06-2010, 01:50 PM
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#3 | | Banned (BBM)
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its a trap
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05-06-2010, 02:11 PM
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#4 | | Diagonally parked in a parallel universe
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Something certainly went awry but it wasn't the actions of a single typo from a trader. The entire market plummeted, not just P&G so it wasn't the actions of one trader. Accenture PLC went from 42 to a penny than back up to 41. Apple also took a dive in the double digits. Hell at one point the S&P500 was sitting at -11%.
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05-06-2010, 02:13 PM
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#5 | | RS.net, helping ugly ppl have sex since 2001
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The trader wasn't from P&G, reports say he was from Citibank.
It was probably a snowball effect that started from the typo...
__________________ Quote:
Originally Posted by skyxx Sonick is a genius. I won't go into detail what's so great about his post. But it's damn good! | 2010 Toyota Rav4 Limited V6 - Wifey's Daily Driver
2009 BMW 128i - Daily Driver
2007 Toyota Rav4 Sport V6 - Sold
1999 Mazda Miata - Sold
2003 Mazda Protege5 - Sold
1987 BMW 325is - Sold
1990 Mazda Miata - Sold 100% Buy and Sell Feedback | |
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05-06-2010, 02:16 PM
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#6 | | Everyone wants a piece of R S...
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I think they blocked trading during that error because my buy order of apple didnt go through when it fell 20%.
Europe is in a shit situation right now, the funny thing is Greek people rioting because of taxes/budget cuts. Your country needs that otherwise its going to be bankrupt and you riot in response lol.
Then next problem will be spain, then portugal, then italy... people are asking will this break up the European Union? Highly doubtful but if it does...
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05-06-2010, 02:26 PM
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#7 | | Willing to sell body for a few minutes on RS
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...and where's the guy who said "who gives a shit about Greece"? 
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05-06-2010, 02:27 PM
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#8 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Oct 2005 Location: Revscene
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Yeah they are saying all P&G transactions during that time will be wiped due to the error.
__________________ Quote:
Originally Posted by skyxx Sonick is a genius. I won't go into detail what's so great about his post. But it's damn good! | 2010 Toyota Rav4 Limited V6 - Wifey's Daily Driver
2009 BMW 128i - Daily Driver
2007 Toyota Rav4 Sport V6 - Sold
1999 Mazda Miata - Sold
2003 Mazda Protege5 - Sold
1987 BMW 325is - Sold
1990 Mazda Miata - Sold 100% Buy and Sell Feedback | |
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05-06-2010, 02:37 PM
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#9 | | Banned By Establishment
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Originally Posted by no_clue I think they blocked trading during that error because my buy order of apple didnt go through when it fell 20%.
Europe is in a shit situation right now, the funny thing is Greek people rioting because of taxes/budget cuts. Your country needs that otherwise its going to be bankrupt and you riot in response lol.
Then next problem will be spain, then portugal, then italy... people are asking will this break up the European Union? Highly doubtful but if it does... | yeah communists and anarchists are protesting. Nothing new in greece.
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05-06-2010, 04:05 PM
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#10 | | I only answer to my username, my real name is Irrelevant!
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kind of hard to believe it was a mistake
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05-06-2010, 04:06 PM
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#11 | | Orgasm Donor & Alatar owned my ass twice!
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Originally Posted by StylinRed kind of hard to believe it was a mistake | A stock doesn't just go from $40 to $0.01 without some kind of an error. Quote:
Originally Posted by no_clue I think they blocked trading during that error because my buy order of apple didnt go through when it fell 20%. | That's actually probably because your broker sucks.
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05-06-2010, 04:32 PM
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#12 | | I only answer to my username, my real name is Irrelevant!
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what i meant was i could see someone doing it on purpose, and then saying it was a "type-o" or some other excuse  | |
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05-06-2010, 06:10 PM
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#13 | | HELP ME PLS!!!
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It's a fire sale!
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05-06-2010, 06:14 PM
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#14 | | Revscene.net has a homepage?!
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i think they should let Greece go bankrupt cuz the world now doesn't need another bailout
if they get bailed out, then Spain...probably all of Europe needs a bailout
let them tank like Iceland
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05-06-2010, 06:20 PM
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#15 | | Need to Seek Professional Help
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Fuckk... Imagine shorting that 
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05-06-2010, 06:46 PM
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#16 | | Lomac owned my ass at least once
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hft's to blame?
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05-06-2010, 07:04 PM
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#17 | | Diagonally parked in a parallel universe
Join Date: Dec 2001 Location: Vancouver
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The whole "typo" thing doesn't make any sense to me. What trader would have a trade limit in the billions? Furthermore, to be able to have that trade go through without having to see approval? If you look at the volume today for aapl, pg, acn... none of these stocks show abnormal volume that would suggest a huge drop and the an equally huge recover. Large amount of shares would have to change hands.
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05-06-2010, 07:28 PM
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#18 | | RS.net PIMP
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One of my buddies actually did something similar before. On the trading terminals, some of the keyboards have a double 0 and a triple 0 key to save time from typing out all the 0s. He sold 5,000,000 shares instead of the 500,000 shares he meant to sell, dangerous if you're not paying attention.
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05-06-2010, 07:28 PM
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#19 | | OMGWTFBBQ is a common word I say everyday
Join Date: Nov 2005 Location: Vancouver
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| Quote:
Originally Posted by 97ITR The whole "typo" thing doesn't make any sense to me. What trader would have a trade limit in the billions? Furthermore, to be able to have that trade go through without having to see approval? If you look at the volume today for aapl, pg, acn... none of these stocks show abnormal volume that would suggest a huge drop and the an equally huge recover. Large amount of shares would have to change hands. | but what if someone was trying to sell a stock at say 40, but hit Enter too fast and the price was set a 0.01?
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Originally Posted by Fei-Ji haha i can taste the cum in my mouth | There is a time when you have to sig a post.
It just happened.
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05-06-2010, 11:12 PM
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#20 | | I *heart* Revscene.net very Muchie
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Should've short sold on margin.
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05-06-2010, 11:30 PM
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#21 | | Rs has made me the woman i am today!
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wow, he must be shitting his pants right now
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05-06-2010, 11:35 PM
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#22 | | Rs has made me the man i am today!
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Originally Posted by sonick Yeah they are saying all P&G transactions during that time will be wiped due to the error. | You should have seen the $100,000 high for aapl on the free streaming sites.
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05-07-2010, 02:06 AM
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#23 | | I STILL don't get it
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thank god we still have open outcry pit traders
70% of volume on nyse is program trading meaning its computers trading against computers http://www.zerohedge.com/sites/defau...et%20Crash.mp3
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asdf
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05-07-2010, 07:45 AM
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#24 | | I STILL don't get it
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Originally Posted by 7seven One of my buddies actually did something similar before. On the trading terminals, some of the keyboards have a double 0 and a triple 0 key to save time from typing out all the 0s. He sold 5,000,000 shares instead of the 500,000 shares he meant to sell, dangerous if you're not paying attention. | lol. Am I related to this guy?
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05-07-2010, 08:02 AM
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#25 | | Rider
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today isn't look as bad. its moving away from the lows...i think ppl are going to get out and wait till next week and also see what takes place in euro over the weekend =]
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