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Getbig Bodybuilding Boards => Gym/Stores/Industry Business Board => Topic started by: 240 is Back on February 28, 2007, 08:54:59 AM

Title: Did the Drudge Report Help Tank the Stock Market?
Post by: 240 is Back on February 28, 2007, 08:54:59 AM

"Greenspan warns of likely U.S. recession." That was the headline right near the top of the widely surfed Drudge Report yesterday afternoon and this morning. Many market watchers are blaming those comments for today's stock market sell-off.

Title: Re: Did the Drudge Report Help Tank the Stock Market?
Post by: trab on February 28, 2007, 12:32:36 PM

NO- What you witnessed was computer-driven program selling.
PreProgramed sell Stop orders going off in domino fashion.
Faster than you can click a mouse. The ETF (exchange traded funds) baskets can immolate a whole sector in the blink of an eye today.
We just regroup, and go from here.
50 day moving averages were not even touched.
The market has been WAY overbought for some time.
Short sellers did GREAT if the could get in, or saw it start.
 

Title: Re: Did the Drudge Report Help Tank the Stock Market?
Post by: 240 is Back on March 05, 2007, 09:13:43 PM

awesome.  imagine the market crashing because of computers doing battle :)