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

http://broliath.wordpress.com/ This is the CNBC coverage of the 1000 point Dow Jones drop on May 6, 2010. This included a 25% drop in the Proctor and Gamble shares. Jim Cramer claims it was a "machine mistake."

Category:

News & Politics

Tags:

• Dow Jones
• Plunge
• 1000 points
• 900 points
• CNBC
• Jim Cramer
• Proctor
• Machine Error
• Stock Exchange
• Market Crash 2010
• Depression

[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

[rbonilla18]

CRAMER SHUT THE FUCK UP.

[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.

[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.

[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

[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.

[truthersunited333]

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

[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!!!!!!