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Thread: Anyone else been watching the stock market today?

  1. #1
    PookyNR is offline 3D VIP 2005, '06, '07, '08, '09, '10, '11, '12, '13, '14
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    Icon4 Anyone else been watching the stock market today?

    If not, grab a strong drink before you do.

    Things were generally going poor - and then 'the event' happened.

    S&P 500
    http://ca.finance.yahoo.com/q/bc?s=%5EGSPC&t=1d

    Dow
    http://money.cnn.com/data/markets/dow/
    Last edited by PookyNR; 05-07-2010 at 12:35 AM. Reason: add more links
    Am I the only one without a small type signature?

    Nathan

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    Brian Shillito is offline 3D VIP 2010, '11, '12, '13. '14
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    Yup, and the Loonie dropped a whopping .03 cents!

    Best regards, Brian.
    Brian Shillito
    Blackfish Sound Studio
    West Vancouver B.C.

    Facebook: http://www.facebook.com/profile.php?id=100000844248569

    Who added the "AT"?

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    Yup. I'm holding call options on financial stock from June through Jan '11 so I'm not sweating it too much yet but it's been a bad few days with today being really bad..

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    Wireline's Avatar
    Wireline is offline 3D VIP 2004, '05, '06, '08, '09, '10
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    Quote Originally Posted by Brian Shillito View Post
    Yup, and the Loonie dropped a whopping .03 cents!

    Best regards, Brian.
    I didn't drop anything.
    Ken Morgan
    2010 3d VIP

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    PookyNR is offline 3D VIP 2005, '06, '07, '08, '09, '10, '11, '12, '13, '14
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    Quote Originally Posted by Wireline View Post
    I didn't drop anything.
    You may not have. But I'm certain that your broker dropped something in his pants.

    Crazy day.
    Am I the only one without a small type signature?

    Nathan

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    Lots of automatic trading. Some people might be sorry. Then again, maybe not.

    I still think we'd be far better off taxing trades significantly (on the way in and the way out). That would limit volatility. It would also do away with an army of people who go to work every day in huge skyscrapers and try to create income from churning stock, making zillions of incremental trades. Talk about a waste of time and talent. So many smart people laboring away at something that creates no real tangible wealth. We'd be better off with a financial industry 1/10 the size, putting the other 9/10 of those folks to work actually making things we need and use. I'd rather see people investing in companies they believe in for the long term.
    Lee Blaske
    Excelsior, MN
    http://www.reverbnation.com/leeblaske

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    Quote Originally Posted by Wireline View Post
    I didn't drop anything.
    I heard it was a typo that caused it. Million, billion, it's only one letter.

    hth,

    DC
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    PookyNR is offline 3D VIP 2005, '06, '07, '08, '09, '10, '11, '12, '13, '14
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    Quote Originally Posted by Lee Blaske View Post
    Lots of automatic trading. Some people might be sorry. Then again, maybe not.

    I still think we'd be far better off taxing trades significantly (on the way in and the way out). That would limit volatility. It would also do away with an army of people who go to work every day in huge skyscrapers and try to create income from churning stock, making zillions of incremental trades. Talk about a waste of time and talent. So many smart people laboring away at something that creates no real tangible wealth. We'd be better off with a financial industry 1/10 the size, putting the other 9/10 of those folks to work actually making things we need and use. I'd rather see people investing in companies they believe in for the long term.
    'Paper trading' can shift wealth to those who are bright and know how to manipulate the system. You're certainly correct, however, that it's a false (net) wealth as no new products are manufactured. And also the increased debt because of the paper trading causes these bubbles that continue to get worse.
    Am I the only one without a small type signature?

    Nathan

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    PookyNR is offline 3D VIP 2005, '06, '07, '08, '09, '10, '11, '12, '13, '14
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    Quote Originally Posted by Dave Collins View Post
    I heard it was a typo that caused it. Million, billion, it's only one letter.
    That's the rumor. Investigations are still pending.

    However, in an already volatile situation in a down market, the error (whatever exactly it was) revealed the fragility of the markets, particularly with the European meltdown forefront in many minds.

    Tomorrow it will be interesting to see how this continues to play out...
    Am I the only one without a small type signature?

    Nathan

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    Brian Shillito is offline 3D VIP 2010, '11, '12, '13. '14
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    Quote Originally Posted by Wireline View Post
    I didn't drop anything.
    "Whooooosh" ...The sound of this going over heads!

    I got it amigo!

    Best regards, Brian.
    Brian Shillito
    Blackfish Sound Studio
    West Vancouver B.C.

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