How did the market rally back so quickly on May 6?

Discussion in 'Wall St. News' started by gastropod, May 9, 2010.

  1. S2007S


    You actually believe it was the whole mix up between "B" and "M".


    Come on, that was just the lame excuse to get people to keep calm.

    You dont actually believe that was what caused the market to drop a 1000 points in 15 minutes do you?
    #11     May 9, 2010
  2. bkveen3


    I mean do you genuinely believe it is that easy to sell 16 Billion worth of anything? There are protection measures backed up by even more protection measures at firms with access to that kind of capital. Do you really think that any one trader has access to 16 billion in capital all by his lonesome? Regardless of all that logic, if what you say is true why haven't we had 1000 point drops due to a fat finger before? The algo's that were set into motion by the move have been around for quite a while now. You're telling me that thousands of traders making millions of trades a day have only made this mistake once? Please, its time to be a big boy and look for the truth.
    #12     May 9, 2010
  3. businessstaxes

    businessstaxes Guest

    market was closed for 30 minutes. between 2:30pm-3pm HFT even shut down all their computers

    #13     May 9, 2010
  4. Eddiefl


    Shorts covered and new buyers came in,

    End of story. Close thread, haha,

    #14     May 9, 2010