Why did we just drop 80 points in 10 mins ?

Discussion in 'Trading' started by wiesman02, Dec 19, 2007.

  1. I'm sick of getting stopped out of positions that have nice set-ups b/c the market decides to drop suddenly. Luckily I had stop's in place, but still.

    You can make money in this market, its just damn annoying when u see a sea of red, 1 minute after you take a quick long position.
  2. lwlee


    This thing is going down.
  3. I believe it's because of the Morgan Stanley news. Quite convenient isn't it.
  4. dsq


    mbi,abk both downgraded by s+P...more bad mortgage news...
  5. Yep, we're getting ready for a nice beatdown in the next hour.

    *note, I'm hoping for a reverse jinx here as I've got some long-term positions that need a little boost*
  6. How can all you guys trade without even the most basic of news services?

    Invest a small amount into a cheap news service and save yourself from losing money b/c you're clueless when news (like MBI, ABK, etc.) breaks.



    Briefing is dirt cheap and it will give you enough news to help save (and make) you some money.

    Good luck.
  7. To me, news is almost useless. The moment it comes out, it's too fast for me to react to anyways so I trade purely technical. The price action reacts almost instantaneously unless you get the news 10 seconds ahead of briefing or Bloomberg. Knowing what caused it is more for curiosity's sake.

    My 2 cents of course.
  8. dsq


    is it live streaming?

    can you choose a group of stocks and have any news on them be first to stream on your screen and ahead of all the other news clutter?
  9. Not sure about Briefing.com but I have streaming news from my other Ameritrade account (I use IB primarily) and they let you filter your news with stock symbols so I imagine you should be able to do that with briefing.com's.
  10. Well in this case (S&P putting MBI and ABK on negative watch), there was a minute or two lag before the market started tumbling.

    The OP could have reacted accordingly (sell longs...go short).

    Knowing what is causing the drop is better than being clueless.
    #10     Dec 19, 2007