quote:

Originally posted by Shakka Fun times. Word going around the trading desks is that some dude at Citigroup put in an S&P futures order for 1.6Billion instead of 1.6Million. Just what you need on a day like today. You're fired.

Dude...

http://ichart.finance.yahoo.com/b?s=%5EDJI&lang=en-US®ion=US

quote:

Originally posted by Comrade Stalin Dude... http://ichart.finance.yahoo.com/b?s=%5EDJI&lang=en-US®ion=US

I'm listening to a Citigroup call right now to try to explain what happened. They're basically saying it wasn't them and they're not aware of any "fat fingers" or anything like that. Basically a mass exodus with no buyers = free fall, but I've never seen anything like what happened today.

And cap--biggest intraday point drop, but still not 1987 on a percentage basis!

Today fucking sucked 6 ways from Sunday no matter how you slice it.

I'm going to put all the resources of my company Betapeg LLC to work in this market downturn. I am moving away from any more TNDM which has burned me bad, though keeping my Sept $10 call, and moving towards MYGN. I am going to earn back my huge losses, I am determined.

The markets are still up 20% or so over the past 12 months aren't they? Don't be too eager krypt.. We've got some unprecedented crap going on right now and uncertainty is never good for the bulls.

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Originally posted by Capitalizt The markets are still up 20% or so over the past 12 months aren't they? Don't be too eager krypt.. We've got some unprecedented crap going on right now and uncertainty is never good for the bulls.

This is more like 1987, the Asian debt crisis, Russian debt crisis, or Argentine debt crisis. Markets plummet and then when the resolution happens recover to previous levels. I'm going to be a contrarian here and bet against the market.

We haven't seen a real plummet yet.. They are saying yesterday was a glitch.. The "real thing" (capitulation) will involve several days of drops like yesterday with no glitches involved. It needs to happen. I've been reading about this and Greece is completely f*cked. Their economy is completely lopsided.. Only 1/3 of their population works in the private sector. Half of their population is unemployed/retired/collecting welfare, and the remainder have government jobs.

When you do the math it turns out 33% of the population is directly supporting the other 66%. No amount of loans will get them out of this mess. The only way out is a complete restructuring of the entire frakking country. They need to leave the EU and default/repudiate their debts. If this doesn't happen they are doing to drag all of Europe down with them..and this will kill stocks worldwide.

quote:

Originally posted by Capitalizt We haven't seen a real plummet yet.. They are saying yesterday was a glitch.. The "real thing" (capitulation) will involve several days of drops like yesterday with no glitches involved. It needs to happen. I've been reading about this and Greece is completely f*cked. Their economy is completely lopsided.. Only 1/3 of their population works in the private sector. Half of their population is unemployed/retired/collecting welfare, and the remainder have government jobs. When you do the math it turns out 33% of the population is directly supporting the other 66%. No amount of loans will get them out of this mess. The only way out is a complete restructuring of the entire frakking country. They need to leave the EU and default/repudiate their debts. If this doesn't happen they are doing to drag all of Europe down with them..and this will kill stocks worldwide.

There needs to be an event. Either Greece or another like it defaults or there is a bailout plan. That is catalyst. I won't exactly make any moves until such an event happens. In my paper trading portfolio I am adding on to all my positions which fall below my original investment cost ($10,000). Which would be XOM, TNDM, and MYGN. Really wish I had $100,000 to really use my models and make some huge dough. Keep options trading at no more than 5% of my portfolio.

Well I don't know about the rest a yas, but I got a red hot poker up the arse this week. Down about 3% and 5% for the week for the two funds I manage.

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Originally posted by Shakka Well I don't know about the rest a yas, but I got a red hot poker up the arse this week. Down about 3% and 5% for the week for the two funds I manage.

I have the perfect company for you to invest in. Betapeg LLC!!

Dow rises 3%. We've seen our catalyst.

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Originally posted by Comrade Stalin Dow rises 3%. We've seen our catalyst.

eh? All we've seen is a trillion in newly printed money.. Bullish short term of course, but there is no free lunch.