General Stock Talk Thread

[fox's robot]

i bought a bunch of dell and ge during the first big drops. then it dropped some more, and my portfolio has been lagging ever since.

i should have never have sold my previous company's stock. that was really dumb of me.

[ecto]

fuck greece

[gucci man]

do we buy today or tomorrow?

[fox's robot]

i probably won't have the funds i have to exercise my stock option tomorrow

[Shotfrog]

http://finance.google.com/group/google. ... 562d78f2e6

[gucci man]

king obama...save me!!!

[coop]

pretty nuts when dow was down 1000

[Shotfrog]

Does this all mean that someday soon it'll be cheap to travel to Europe?

[handsome brute]

so I heard from Bobby Gibbs that the stock market went up like, 700 points today.

[fox's robot]

http://www.cnbc.com/id/36988229

someone mistyped a trade

[fox's robot]

closing today at -16.21%

[bluetooth]

if you had P&G set to buy @ 40 for whatever reason, could you have just made bank?

[zamboni]

http://www.google.com/finance?q=ACN
http://www.google.com/finance?q=MMM

what yin said

[Gene Parmesan]

fuck greece

[chico]

fuck trichet

[gucci man]

http://gothamist.com/2010/05/06/did_tra ... l_stre.php

fucking a

[handsome brute]

Traders should have noticed the effect of that for an error. That they didn't notice and that they responded so drastically is a good indication of what they really think of the recovery.

[gentleman]

this doesnt have to do with greece guys.

[handsome brute]

this doesnt have to do with greece guys.

OK, let's test this one. Say the market has correctly priced all the securities available for sale when someone makes the computer error that starts the tumble. Obviously that error does not reflect market fundamentals and it soon gets corrected in the computers. What happens then? The market should return to its previous value. So why didn't it?

I think traders saw the quickness and severity of the decline and decided two things: (1) that investor-confidence is still pretty bad, and (2) that given the financial condition of Europe it makes sense to be more cautious than normal.

[ecto]

its cool gentleman claimed that investing for the long term died in 2000

[Gehrig Industries]

going 2 stare lovingly at kruggerands tonight

[jbiz]

this doesnt have to do with greece guys.

OK, let's test this one. Say the market has correctly priced all the securities available for sale when someone makes the computer error that starts the tumble. Obviously that error does not reflect market fundamentals and it soon gets corrected in the computers. What happens then? The market should return to its previous value. So why didn't it?

I think traders saw the quickness and severity of the decline and decided two things: (1) that investor-confidence is still pretty bad, and (2) that given the financial condition of Europe it makes sense to be more cautious than normal.

or a bunch of stop-loss software algorithms kicked in and a bunch of computers sold a bunch of shares.

[handsome brute]

Yes, stop-loss triggers sold them below fair-value based on a computer error. Same argument as before: smart traders would buy up those shares as they are under-priced. Indeed, they bought back 700 points worth. Why not the rest?

Edit: another point is that the error only applied to P&G, and the entire market started falling based on that error. Stop losses are triggered by the price of individual stocks, not an index average. So, stop loss orders can be partially responsible for the continued fall of the market, but they don't explain why the P&G error started a snowball effect across the entire market in the first place, nor do they explain why the bounce back wasn't complete.

[s/ns]

I really don't want to get involved in this thread, but I just want to point out that Spus were down somewhere between 32 and 45 when the "glitch" supposedly occurred, and they closed down 37 on the day.

And the late-day rumor was that someone erroneously fat-fingers a Spu mini electronic sale (I heard 16 billion as opposed to 16 million) which is why the S&P essentially gapped from down 50 to down 105... and then immediately back.

I think Gentleman's point was that the market tanking has just as much to do with the US as it does with Greece/Portugal/Spain and the rest of the EU. We've known that they're fucked for weeks if not for months now.

[gentleman]

I think Gentleman's point was that the market tanking has just as much to do with the US as it does with Greece/Portugal/Spain and the rest of the EU. We've known that they're fucked for weeks if not for months now.

i like you.

yes, the idiot-box analysis says greece but if you look at the rise from march of 2009 in terms of other bear market rallies (not a bull market), if you look at the put/call and isee data readings over the last 3 weeks (showing more bullishness than at the highs in 2007), if you look at the diamond formation on the charts that indicate a trend reversal, if you look at year over year comparisons for earnings that will not be compelling in the second half of the year, if you look at the amount of institutional investors that have cash on hand at the end of the 1st quarter (somewhere around 3% at best), if you look at the fact that china has been in a decline that has not confirmed our stock market advance (which is negative since they are/should be the leading market), then you could have seen this coming.

at 1090-1095, the 200 day should provide some support...we are extremely oversold here short term...but this is just the start.

[ecto]

oh would you look at that

[gucci man]

My stocks when from -15% to -8% in less than a week. Maybe i'll break even by the end of the year!

[Shotfrog]

We did it, Mikey! We're super rich again!

[mikey]

We did it, Mikey! We're super rich again!

[Roboto]

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