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Ummm, is it time to get out of the market again?

TheSaint

By TheSaint,
in Huddle Lounge

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TheSaint Newbie

TheSaint

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Cramer is a very smart guy

He called it too the instant it happened. 1987 was the first crash that was computer generated. 30 seconds after it happened today he basically says 1987 all over again.

yeah, im not a huge Cramer fan and dont trust him either....BUT, im gonna be watching the replay tonight.

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Happy Panther Grand Master

Happy Panther

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Are they going to cancel all CBOE trades too??? I can see someone making a "mistake" in one market and someone else taking advantage elsewhere...

Do you trust anyone now???

They can't just cancel all trades i think. I don't think they should be able to cancel anything but I guess there could be obvious fraud or something.

Somebody made a decades worth of money today...

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theedaddy Newbie

theedaddy

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cramer is a joke. not a j stewart fan, but he DESTROYED him about as bad as I've ever seen. it was unreal, even for the interwebz. look it up, i thought he'd be finish after it.

screw again by the market, maybe no anus bleeding this time, i hope...

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TheSaint Newbie

TheSaint

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They can't just cancel all trades i think. I don't think they should be able to cancel anything but I guess there could be obvious fraud or something.

Somebody made a decades worth of money today...

are you kidding? it was an obvious fug up.

its a done deal anyway

My point was:

A trader fugs up a stock trade order and puts it in for a Bill instead of Mill...

Ok, so he knows its going to be corrected...but say his buddy in Chicago knows this major fug up is gonna happen and is ready to take advantage of the cross market reaction....oh well. sorry suckers.

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pstall Newbie

pstall

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They can't just cancel all trades i think. I don't think they should be able to cancel anything but I guess there could be obvious fraud or something.

Somebody made a decades worth of money today...

Correct. Only the actual transaction itself has a mere chance of being corrected or go to arbritrage.

Now I understand what squirrel meant earlier. I wasn't even watching the market today until a buddy emailed me.

This might sound brash but because I didn't see this coming, I feel ok about the market.

Sure there are ways to go but a return on your money is a return. Take what you can get.

But I mentioned this a few weeks ago in the Tinderbox. Pay attention to property that Buffett or Gates or guys like them are buying or selling. Those locations are a sneaky indicator of what they are thinking long term.

Buffett may be too high level to concentrate on because he owns such a swath of the market himself it's to his advantage to constantly be trumping up the market with his purchases. Self fulfilling type stuff.

But let me say this again. Buy on BAD news. Sell on GOOD. After a day like today is the WORST time to sell.

Go do a search on random and odd lot theories. Then see how much the money mgr's and market makers love those.

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TheSaint Newbie

TheSaint

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cramer is a joke. not a j stewart fan, but he DESTROYED him about as bad as I've ever seen. it was unreal, even for the interwebz. look it up, i thought he'd be finish after it.

screw again by the market, maybe no anus bleeding this time, i hope...

i saw that.

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