So, Our Stock Market Is Susceptible To RANDOM CATASTROPHIC "GLITCHES"

[Beetwasher]

Well, isn't that special?

[Error]

1. well

nobody sperfect...

[Fresh_Start]

2. I liked the story line that the big drop was due to computers....

we supposed to believe that the stock exchange just discovered computers or something?

[originalpckelly]

5. Not the whole thing, but the 200 point in 2 minute drop near the end of the day...

that's what they're talking about.

[Fresh_Start]

12. wasn't that dropped due to the problem

on the main computers that was detected at 2PM? I read that huge trade backlog occurred. When they got the backup computers going it was a huge drop. Isn't it possible that the drop may have been worse if the market started getting beaten up with all that volume earlier?

[Atman]

3. WOOHOO! So how do git my 'tirement 'count in there???

:rofl:

.

[bicentennial_baby]

4. Servers crash people...

If that's what happened, it's not like it's a big surprise...

[Fresh_Start]

6. fact of life with computers

servers crash
everything slows down when you can least afford it (like during close of quarter)

[Atman]

8. Not the point...

What if TODAY was the day you were supposed to retire, and cash in your stocks?

There is a post from a DUer who was planning on selling off stocks today to pay for her home...what about her?

This isn't about "glitches" and "shit happens." It is ultimately about faith in the entire system. The system which BushCo still hope to turn into the replacement for Social Security.

.

[AngryAmish]

7. This is why the stock market dropped today:

Or so I was told. I was drinking beer with a buddy who runs a hedge fund tonite and this is he said:

China is not the only reason things fell apart today. Yes, there was a big fall in the China stock market today. But folks with real money don't buy stocks in China. Or they do but the game is rigged (China is utterly corrupt). The gov't is placing controls so companies can't buy stock on borrowed money. The CCP controls who gets the loans but without these loans then the stock price has been bid up to artificially high levels. No loans then many potential buyers are out of the market, reducing the price.

But there was other bad economic news that got folks scared. People want cash and there has been a lot of money made recently so people cashed out.

He said he did good today - but only because he was trading option and there is a lot of money to be made in options when there is volatility. Today was real volatile.

[Neshanic]

9. "Open the pod bay door HAL."

[Purveyor]

10. I'm not buying the story. IMHO they tried to stem the decline by sitting on

the stop loss sell orders hoping some buying would limit the damage.

The wave of buy orders never happened and 'they' finally had to rid themselves of all the sells or answer even more questions as to why orders weren't execute.

[AX10]

13. kick

[Rex]

11. Whoops...I think I found the glitch on this map.

;)