Briefly

[solarbird]

Well, that was certainly exciting!

I wasn't able to post here while the market was in freefall. But I can tell you that people are not believing the "rogue trader" story, certainly not by itself, and least of all not with 15 minutes (being reported by several traders) of "no bid."

The leading theories right now are interconnected high volume programme trading, akin to 1987. We were a small number of DJIA points away from trading halt before something happened and someone took action to halt the waterfall and we ended down "only" 3.25%. I don't know what happened yet.

Yeah. I'll post about this. Believe it.

Comments

[emmacrew.livejournal.com]

Today at lunch we went past the bank drive-up lane and Wm said "are those the people getting some money?" and we agreed they were. Then he said "all the moneys are going away!" Guess he was on to something.