CNBC Coverage of the Dow 1000 Point Plunge - "Machine Error"

[Dudiby1986]

1:05

[nategiz95]

Also; to Cramer, Shut the fuck up. The system did not "break". Markets seriously have this power. All it takes is the right environment and we can sell until the circuits broke. 

[nategiz95]

What I find funny is that this "flash crash" was caused over worry for EU collapse, Greek default stress, and bank crisis worrying. Does this sound familiar? Same thing is happening today. This just showed the power of the bears. The bears LET the market recover. Recover did it. The market is vastly oversold. We are supposed to be far less than where we are. This was our forewarning. This was are little hint from God. Get out now before it is too late. The market is oversold. Bears will reign..

[JP5466]

I can't wait until this electronic gambling casino implodes and these bobblehead idiots lose their jobs and become completely irrelevant.

[AlbertInSanAntonio]

here is the deal on the flash crash, market gos down real quick, before it gose down you buy, when it comes back up you can short the shorts , and someone or a few people made a hell of a lot of money in a few minuets

[PixelatedMaestro]

Cramer saved the Dow from freefall, and a possible economic crash. Cramer saved the world?

[rudemood2011]

1:10 Erin Burnett is trying to speak and that jerk Cramer won't let her. Shut the fuck up Jim!!!!!!

[rbonilla18]

CRAMER SHUT THE FUCK UP.

[iamdabomba]

fuck I love the stock market

[bweazel]

How the hell are they calm during this?

[yuppyguitar1]

@bweazel As members of the financial media, they have influence and access to inside information. As such, there are laws to restricting these people trading stock. They probably don't own any, aside from perhaps bonus options.

[Xilovecandyx109]

There was no machine glitch. I was there that day when Dow opened down 17 points then gain about 2 point by 10am. then selling started to happen after that. Dow when from down 100 points to 250 by 12pm. then it went even father. there was no fat finger out nowhere that just hit a wrong botton sending Dow down 995.55 points. Plus 2:30pm to 4pm is when people either start buying or selling. they just make it seem like its nothing. it a sign that the market cant gain anymore and will collapse.

[Feenixaz]

Talk about speculator, kramer started spouting the cause, based on virtually no evidence of anything. he knew less than practically anyone on wall street at the time. And the system is doomed to collapse. Knowledge is the only thing that will save you.

[gygias]

LOL the ending was the best part! classic

[TheMarketAssassin]

uhh... why cramer was smarter then anyone else there

[IAmJasonThomas]

Ring! Ring! Bernanke: Hello Obama: So um what's your thoughts on maybe uhh a yearly audit from congress. I mean the people are catching on to some of the Fed's activities and uhh I mean I don't want them- Bernanke: You're joking right. Obama: I mean it would just be.... Click! Bernanke calls GS, JP, MS, BOA and Citi "Stop buying for a good minute!" A few days later Obama comes out against the audit and Sander's watered down one time audit passes! Cramer's so calm because GS told him.

[ptdnet]

Someone made a -- T O N -- of money in about two minutes. And we'll never find out who. Cover up? Yes. Like Cramer said, give me 50k and 49 1/2. BOOM!

[powertothesheeeple]

I'd love to see P&G crash for real (among others), but this whole thing stinks of a much larger planned market crisis coming soon. One thing about the Illuminati, they love to give a taste of what's coming beforehand, sort of like a warning shot, before they unplug the drain. It's like a sick, sadistic ritual that they engage in time and again.

[nnokey]

@powertothesheeeple was just browsing some video today and saw this reply from 2 weeks ago. You are ON the money!!!

[nerovsdante911]

@powertothesheeeple lol... people like you are funny. you talk all this shit about illuminati controlling the world, and lets assume thats true for a second. if all of a sudden it was gone, do you really think people would know what to do themselves? somebody has to be in control, so get used to it because it will never change

[powertothesheeeple]

@nerovsdante911 If you want to live in a society where laws and regulations and decency and discipline and respect become meaningless; to be controlled and taken advantage of; to be reduced to a serf with a high tech collar around your neck; to have little or no self-determination - then be my guest. I don't care to live in that society. Good luck to you!

[2237lemon]

he had his cronies at his trading desks ready and waiting i bet... a chicago cronie set up the fake short sale then had buyers at desks waiting to grab the cheap shares for a steal then suddenly it went back up. What a sham system!

[dink65]

Remarkable how calm Jim Cramer was during this collapse. VERY uncharacteristic of that guy. Seems like he knew about this planned little exercise.....

[rhettnyedotorg]

yeah p&g is awesome they make poison laundry soaps and questionable pharmaceuticals stock market fuck yeah

[rowestocktrader]

There was no glitch, none of the systems failed. The press have warped this. The market fell because people and computers were selling. Has anyone heard of limit down in the futures? They never kicked in. Do circuit breakers come in on the NYSE after 14.30? No they don't. This goes to show that measures are NOT in place at the exchanges to stop this in the future. The design of the system will lead to its collapse. Mark my words

[MendotaTech]

@rowestocktrader The Internet community will run out of available IP Adresses. This means that some people will not be able to log on to the internet. Also the traffic that traders both at home and NYSE generate are creating a packet jam meaning that information will get mixed up inevitably. The internet community need to find a new system to replace the current TCP-IP (IPv4), this way, the internet upgrades with an indefinite number of addresses to create less congestion and save the internet.

[truthersunited333]

@rowestocktrader LOL look at it TODAY 8/8/11

[rowestocktrader]

@truthersunited333 Yep and none of the circuit breakers have been altered. This decline is going to be a waterfall cascade. A lot of people are going to lose a lot of money. I just hope Goldman and JPM are the ones that lose the most.

[GMan7578]

He didn't have anything to gain because it was obvious that something was wrong in the market. I'm sorry, you don't see a historic blue chipper drop 20 points because of worries about Greece. For one moment, his trading instincts from the old days took over and he recognized an opportunity.

"Be greedy when others are fearful."

-Warren Buffet

[millerol]

Awesome Awesome Awesome....maaan saw this (no so dramatic) coming a mile away...very very good day if you were on the right side of it.

[carmenlee87]

I wonder what he had to gain by encourtaging viewers to buy P&G

[mrdoonbeg]

Someone fucking kick Cramer in the head please, dickhead . . .

[Gizziiusa]

@mrdoonbeg Would be nice to put another "Kramer" in his place, at least we could get some good laughs out of it...

[teplungor]

kramer is an absolute penis.

[sseverijn]

rigged or not we made a killing trading this. But our trading system is non directional neutral. as long as we have volatility arbitrage were happy. we made about 200% just on this day. we don't care what direction it goes. As long as it goes up or down.

[chesterchan2005]

CRAZY MARKET!

[tobycoolrunner]

these people get paid ?

[Deutsche22]

They don't know WTF is going on, even Kramer and I agree with others... the market is now RIGGED!!!

[uclaztec2]

If anyone believes this is a "machine error" they are fool.

This was pure and simple big bank manipulation at its best. They put the fear of god into the market and made millions if not billions on the down side. This is why I don't play in the stock market anymore. THIS GAME IS ENTIRELY RIGGED.

[TYX91101]

@uclaztec2

I agree. The market's pattern was not random but very structured. I think we hit a large pool of buy orders near the February low. Ninety percent of NYSE stocks were down today. Apparently there are a lot of people out there with their finger on the trigger.

[norcalmikey99]

@uclaztec2 My guess is the big banks are putting the screws to congress. At 9:30 eastern tonight the senate stated their will be no size limit on banks. All of this must be coincidence because a "lone nut" machine or trader screwed up causing a collapse. Someone big pulled the trigger on this one. Goldman? Morgan?

[mikemmva2]

skip to 1:00 to see the error

[FCKEVRY1]

Manipulation at it's best! I'll bet the market dropped 50% today and they just printed money all around the world to make it seem like a comeback or error. I wonder how quickly they can do that? I'll bet it's faster than I can type this comment. And probably easier.