Quote:
Originally Posted by SportsDino
None of this adds up, a trader can't enter a 'b' instead of a 'm' and change the market price of a company. Even if it did, unless there actually is trade volume to SELL the shares at that price you can't buy at that price. Unless the entire stock market system is so heavilly broken that this is possible, in which case we need to shut that shit down ASAP.
Even if we do think for a minute that PG's price could somehow have gotten through everything... by itself it doesn't count for the entire DOW dropping by 1,000 points. It is a single component, it doesn't represent 1/11th of the DOW... so regardless of what happened with PG, that spike involves spot price gaming computers firing off a lot of sales to create the real volume.
So anyway, my explanation works and is the best one I've seen until I see something that comes even close to plausibility. You can believe the talking heads on frickin CNBC if you want to, I'm just some nutter I guess, I'll go buy a straightjacket with my multiple percentage points on my speculation portfolio.
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I agree with you that this doesn't explain it all of course.
But if the drop in PG&E (however the fuck that happened, and i agree it doesn't make any sense) was enough to drop the DOW 142 points that could easily trigger a lot of those automated sells.
I'm not disagreeing with you - I just cut n pasted the first explanation i found. I'm still in the office workin away.