I am not sure after hearing all the explanation about Thursday's stock market plunge. No one has come forward and admitted to the bad trade of 16 Billion instead of 16 Million theory. I don't think we needed one bad trade to do this. It seams that the NYSE circuit breakers slow down a fast selling market. However the computer system jumps to the Nasdaq to fill the trades. The Nasdaq being a secondary market in these stocks had very little liquidity and no circuit breakers. The market was trading very heavy in a strong declining wave, which was being blamed on Greece's financial crisis. I think this was another wake up call for all the computer sophistication that has not been fully worked out.
What does this mean? It means other then the fact that the exchanges must resolve their reciprocity, the markets themselves are turning down. Excuses or blame won't change the market direction.
With the Real Estate markets doing better lets hope that it doesn't get interfered with.
Have a market question? I would be glad to help!
Richard
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