That Historic 10% Stock Market Dive NOT a "Computer Glitch"

[cieldumort]

Contrary to rumors quickly disseminated by the major brokerage houses, CNBC and others, the unprecedented "Flash Crash" on Wall Street during the prior week was not the result of some "fat fingered trade," "computer glitch," or any such baloney, but apparently  rather legitimate trade executions during what was already a market meltdown.

Wonder if

Comments

[alobar]

Link under the headline "Money Manager Waddell Behind Market Plunge: Report" did not go to a page with that story on it. Using search on the CNBC page, I got to the story here:
http://www.cnbc.com/id/37151476

[cieldumort]

Thanks - esp for the use of most appropriate icon! ;D

[sophiaserpentia]

This is a really chilling thought, and it matches what I've been reading about the incident. I think traders are expecting a plunge of this sort and were poised to jump when they saw it start to happen.

[cieldumort]

ICAWT

Which is why I tend to give those "Dow 5,000" calls a little credence.