Panic selling sent it plunging, but some confusion as to what has happened as the selling stopped as quickly as it started.
Dow jones plunges 1000 points or 10%
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andyfuller
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Was it anythign to do with the 'No Fly' passenger incident from earlier today?
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andyfuller
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andyfuller
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Doesn't bode well for the markets tomorrow if we get a hung parliament - what's your take on what will happen if we get a hung parliament, Peter?
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andyfuller
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Down 700 points in 15mins and then in the next 20mins rebounded 600 points!
Would have been nice to have caught those swings
Would have been nice to have caught those swings
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andyfuller
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CNBC saying a lot of it perhaps bots and not people
Last edited by andyfuller on Thu May 06, 2010 8:32 pm, edited 1 time in total.
The markets will hate it, but they have had some time to put that into the price. I'd be nervous as we need a firm government to tackle the debt issue and the only way the bond markets will be happy is if any government can be seen to be taking firm action. It they don't then UK debt may be downgraded and that would be a disaster. Thing to remember is at least we are not in the Euro so that helps a bit.andyfuller wrote:Doesn't bode well for the markets tomorrow if we get a hung parliament - what's your take on what will happen if we get a hung parliament, Peter?
FTSE futures priced to see an open just under -200 tomorrow, bad election result may add to that IMHO.
Not so sure, trading curbs (http://en.wikipedia.org/wiki/Trading_curb) should kick in quite quickly on the DOW which stock automated trading creating a death sprial.andyfuller wrote:CNBC saying a lot of it perhaps bots and not people
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andyfuller
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Some stock dropped from $60 to $0.01 then bounced right back!
Something isn't right!
Something isn't right!
Somebody picked up PG stock for $39 it will end the day around $60. Somebody is going to be in trouble.
Some pundits are indicating some sort of massive human trading error where somebody at a trading house put in an order for billions instead of millions.
Some pundits are indicating some sort of massive human trading error where somebody at a trading house put in an order for billions instead of millions.
All sorts of rumours flying around, some very strange trades appear to have been done.
On a separate note the spreads on financials are incredibly small now, much tighter than when I played around with them. I think they are becoming more feasible trading mediums. With a 1 point spread on offer from a number of firms I think spread betting on indexes isn't so costly anymore.
On a separate note the spreads on financials are incredibly small now, much tighter than when I played around with them. I think they are becoming more feasible trading mediums. With a 1 point spread on offer from a number of firms I think spread betting on indexes isn't so costly anymore.
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CaerMyrddin
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Wow, I'm astonished!!
Large amounts have changed pockets, the losers must be in real trouble.
I understand something like this happenned in the 70's?
Some sort of domino effect involving both the trigger of loads of stop losses and panic selling?
I don't follow british markets, but here in Portugal they are really messy, short sellers are all around the place, specially in bank's stocks.
The markets have a very complex outlook right now, everything is so connected... that I hope it will settle down everywhere.
Large amounts have changed pockets, the losers must be in real trouble.
I understand something like this happenned in the 70's?
Some sort of domino effect involving both the trigger of loads of stop losses and panic selling?
I don't follow british markets, but here in Portugal they are really messy, short sellers are all around the place, specially in bank's stocks.
I honestly hope you won't have to swallow those words Peter... Altough I would bet you will, the UK has a massive debt!Thing to remember is at least we are not in the Euro so that helps a bit.
The markets have a very complex outlook right now, everything is so connected... that I hope it will settle down everywhere.
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andyfuller
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It all looks like something very bizarre happened, fat fingers or the like.Bet Angel wrote:On a separate note the spreads on financials are incredibly small now, much tighter than when I played around with them. I think they are becoming more feasible trading mediums. With a 1 point spread on offer from a number of firms I think spread betting on indexes isn't so costly anymore.
I know Jimrobo has been trading Futures or something like that, it is something I would be interested in looking into in the future.
Those markets are much more scaleable than Betfair, I am surprised it isn't something you look more to do Peter given that you seem to be at the limits of the horse markets in terms of the money you can put through.
Is there any reason that you don't that you could share (excuse the pun)?
No, that happened earlier, and was a case of mistaken identity.
I think the sudden drop may have been due to this story (this is a different link to the one that's already been posted in this thread):
http://news.bbc.co.uk/1/hi/business/10099914.stm
Jeff
I think the sudden drop may have been due to this story (this is a different link to the one that's already been posted in this thread):
http://news.bbc.co.uk/1/hi/business/10099914.stm
Jeff
andyfuller wrote:Was it anythign to do with the 'No Fly' passenger incident from earlier today?