Dow Drops almost 1,000 points rebounds to just down 300 due to glitch.

Discussion in 'Politics, Religion, Social Issues' started by macfan881, May 6, 2010.

  1. macfan881 macrumors 68020

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    #1
  2. barkomatic macrumors 68040

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    #2
    This came as a total shock to me today when I read the reports. I had no idea the market had been down that much at one point. Everyone is saying its a knee jerk reaction though.

    The Greek parliament passed the austerity measures necessary to get the aid despite the self centered protests of its unions. I guess the only question is will the EU be able to help Portugal or Ireland in the same fashion should the need arise.

    While I generally support a public safety net for people in times of crisis, the welfare and retirement programs in many European countries are ridiculously excessive and couldn't be sustained.
     
  3. mcrain macrumors 68000

    mcrain

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    #3
    I hope my wife understands that my deep plunge was an overreaction to a mental glitch and she won't get too mad at me...
     
  4. chrmjenkins macrumors 603

    chrmjenkins

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    #4
    This needs context :eek:
     
  5. mactastic macrumors 68040

    mactastic

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  6. Eraserhead macrumors G4

    Eraserhead

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    #7
    He runs the dow on his PC doesn't he?
     
  7. mactastic macrumors 68040

    mactastic

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    On Vista no less. Just to be a d*ck.
     
  8. Desertrat macrumors newbie

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    #9
    "To err is human. To really screw up requires a computer."

    There was a comment in a Bloomberg article to the effect that investors were running from risk, and not following the fundamentals. Fundamentals? Ya gotta be smoking some funny stuff to think the fundamentals have been driving the market!
     
  9. ucfgrad93 macrumors P6

    ucfgrad93

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    #10
    To screw up that badly, I'm convinced that he is still using Windows ME.;)
     
  10. mactastic macrumors 68040

    mactastic

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    #11
    Oh! The horror! <back of the hand to forehead and faints>
     
  11. rhett7660 macrumors G4

    rhett7660

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    #13
    Nah.. I think he get the pass on this one...... maybe.... :D
     
  12. jav6454 macrumors P6

    jav6454

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    #14
    No he won't. This was socialism! :D Must be the joker in chief. :eek:

    /SARCASM
     
  13. macfan881 thread starter macrumors 68020

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  14. flopticalcube macrumors G4

    flopticalcube

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    #16
  15. mactastic macrumors 68040

    mactastic

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    #17
  16. obeygiant macrumors 68040

    obeygiant

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    #18
    link

    Was the decline only due to a glitch? There could be more to it.
     
  17. itcheroni macrumors 6502a

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    #19
    Up over $30. Not bad. I'm waiting for it to make a new all time high to see where it goes next. I still think Sinclair might be right with his $1650 prediction by Jan.
     
  18. kavika411 macrumors 6502a

    kavika411

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    #20
  19. heehee macrumors 68020

    heehee

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    #21
    Yup, and lots of it. My boss is a big believer in gold going up, way over $2000/oz. He has over $100 million worth of bullion and he bought it all at around $600. :eek:
     
  20. opinioncircle macrumors 6502a

    opinioncircle

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    #22
    I may be the only one feeling this way, but it proves to me that the whole index, whether Nasdaq or Dow Jones is major fluff and represents nothing at all..This to show that people's lives are at stake over some random numbers representing absolutely nothing.
     
  21. Counterfit macrumors G3

    Counterfit

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    #23
    I wish I could remember who it was, but someone famous-ish (it may have been Jon Stewart, or one of his guests) described the stock market as a group really smart and rational people behaving irrationally. Or something like that.
     
  22. hulugu macrumors 68000

    hulugu

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    #24

    My other favorite, similar quote:

    "A computer is a lever attached to your own incompetence."
     
  23. rasmasyean macrumors 6502a

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    #25
    It's obviously a "purposeful" glitch. They just haven't been able to prove it.

    In this age, after all the steps they've taken to correct "programmed trading" and such since the first incident ages ago...

    Someone has got to have made a lot of money on that timed blip.

    What I'd be worried about is trying to find loophole's for ppl to manipulate the market and patch them before it does some real damage next time.
     

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