Black Wednesday.

Discussion in 'Trading' started by Restricted, May 23, 2006.

  1. Can't believe i'm the first to throw it out there. Cool.

    Only 1256 points to go to zero.

    Shit turns out i'm not the first. oh well, disregard.
  2. Just a rule of thumb...

    Market close must be a double-digit percentage difference before the day can be colorized and petrified in history books.

    Not to be confused with sensationalized by the press.
  3. Would be interesting to see who here on this site will admit to getting margin calls this past week.

    The carnage/fallout of hedge funds from last week has yet to be acknowledged. I have noticed that several CNBC guests are starting to allude to hedgies they know of that got wiped out.
  4. I'll admit it - actually I had margin on my scottrade account taken away for violating the PDT rule - again. :cool:
  5. did you have to wait 90 days that law is retrted.
  6. nope - the rule gives brokers a choice - 90 days or bring equity over 25k.

    i keep the scottrade account for the tools - come with trade ideas, level 2, and live newswires.

    other account is with IB. love those guys.....
  7. yup , yup thats the rule

  8. Nothing wrong with a call as long as you can cover it.

    The greater point is that the global investor is getting their margin call right now. Lots of liquidity getting mopped up right now.

    Speculators getting squeezed hard and the fall out may be worse than I initially thought. I'm starting to get the feeling that some markets are getting detached form underlying fundamentals.

    As Yogi Berra said, "It' deja vu all over again."

    Froth and momentum traders getting the worse of it right now.