FLASH CRASH! Dow Jones drops 560 points in 4 Minutes! May 6th 2010
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Cramer basically saved the dow there!
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I also find it funny how Cramer is advising everyone to use limit orders to buy the P&G stock when it's that low - definitely a genius idea. Ironically, though, it is probably stop limit orders that caused that Dow plunge in the first place, lol.
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When I first saw this, I was thinking, "Well, it's not like we haven't been around for a day similar to this before... wait, what?! P&G is down $20!?! 32%? What the f*** is wrong? Oh God, we're screwed." Certainly was an hour of real chaos.
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@davidlee110 Except that CBOE isn't a stock, it's the index that measures volatility in the market, you can't trade it.
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Watching people in this is like stepping on an ant hill and watching them buggers run around aimlessly.
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What was the cause?
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Who cares about HFT and technical glitches...with good circuit breakers things like this would not happen, -10% and no one stops it?!?
The funny thing is that it can happen anytime again..
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Market is rigged by high frequency trading machines. During the flash crash congress was voting for more bailout for the shadow banks. To threaten congress to vote for the bailout these shadow banks stopped placing frequency up bids and then placed frequency lower bids combined with short position frequency bids. The shadow bankers run this country and is responsible for the world economic crash.
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it's a leverage cleanout
They call it a technical glitch I call the biggest bear raid in history...
kerbobalerbo 1 year ago 26
@andrew09211 A bear market when investors are getting mauled, think about it.
TararuaDAK 1 year ago 6