It must have been swell to be a CMT holder: one second your stock is worth $4.12, the next, it is worth $0.0001.
h/t Melinda Romanoff
It must have been swell to be a CMT holder: one second your stock is worth $4.12, the next, it is worth $0.0001.
h/t Melinda Romanoff
Too bad I didn’t have a couple thousand dollars to buy those shares while they were on sale.
Sales like that are a great time to make some gains.
But, all the trades are canceled, not really a free market that we live in now do we?
One has to wonder about those who trade *against* things but still make money.
Why are you up at 1:17 in the morning?
A few days ago, “Alan” posted something along the lines that’s he itching to buy stocks (just not right now, mind you) because he’s a contrarian, and every one else is rushing out of stocks. I guess the concept that people are fleeing Wall Street not because they believe stocks are overvalued, but because of a growing perception that the market is not free and open, but rather manipulated and rigged, never occurred to him.
Study a 60 year Andex Chart. Unless the world’s economies and humankind’s wants and needs have broken a fundamental cog (which may be possible) we may be headed for more of the same.
From 1950 to 2006,
A $100 investment became
T Bills ………. $2700
Long Bond …….. $6000
Balanced Portfolio.. $27,000
TSE/TSX ………… $30,000
S&P 500 ………… $60,000
US Small Cap ……. $149,000
Gold …………… $3400
Diversify Diversify Diversify
If Nostradamus would write today:
electronic arbitrage at critical mass
the stock exchanges cease to exist
baby boomers pushed off the cliff
the only culture left is agriculture
push button democracy
bots running the house
while markets at idle
the power has fumble
Other scenarios in the news
On the other hand, I was watching Bubblevision, and Anthony Robbins was just on, telling people they should be “taking money off the table”. That’s never a good sign (for the bears, that is).
And here’s how it looks as individual price prints:
http://www.zerohedge.com/article/nanex-dissects-yesterdays-cmt-flash-crash-catches-bats-nasdaq-hft-algo-red-handed
Melinda – I was just going to post that!
Yeah, “fat fingers” – that’s the ticket.
“Why are you up at 1:17 in the morning?”
Usually I’m out mutilating cattle, but last night the moon was too bright.
Feh, I haven’t been in the market since May and don’t plan to be until at least the summer slump and mid-fall crashing season are over.
KevinB – my company offered me a retention bonus when the market was at the top to be paid if I stayed. It paid out shortly after the market hit bottom. All of it went into a mix of stocks. We sold off an amount equivalent to the original investment about 6 months later, and what’s left is mine to play-with-stocks-as-I-see-fit since we never would have had the extra monney to begin with if I hadn’t insisted to my wife that it was an ideal time to get in the market because everyone else was still selling off. If you can time it right, you can do very well. Of course, you can lose it (even on reputable companies) if you time it wrong.