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Do you believe wrong button pushed DOW?


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All Forums >> [Casual Banter] >> Polls and Other Random Stupidity >> Do you believe wrong button pushed DOW? Page: [1]
[Poll]

Do you believe wrong button pushed DOW?


Unsure
  22% (2)
yes
  44% (4)
No
  33% (3)


Total Votes : 9
(last vote on : 5/8/2010 4:23:48 PM)
(Poll will run till: -- )
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Do you believe wrong button pushed DOW? - 5/8/2010 12:16:11 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		That a fat finger pushed the B rather then the M- causing the market to drop almost 1000 points.

Do you believe it was one wrong button?

http://www.youtube.com/watch?v=HcqEOIkq1Vk&playnext_from=TL&videos=S5RSlSBM_Ik&feature=sub
Profile   Post #: 1
RE: Do you believe wrong button pushed DOW? - 5/8/2010 12:19:59 PM   
Sanity


Posts: 22039
Joined: 6/14/2006
From: Nampa, Idaho USA
Status: offline
I've already apologized for that.

http://www.collarchat.com/fb.asp?m=3195256

Leave me alone!


_____________________________

Inside Every Liberal Is A Totalitarian Screaming To Get Out

(in reply to pahunkboy)
Profile   Post #: 2
RE: Do you believe wrong button pushed DOW? - 5/8/2010 12:31:37 PM   
auditguy


Posts: 182
Joined: 3/7/2009
Status: offline 		NO, Citi traders don't have that kind of authorization to trade in the billions.  He would have probably hit his threshold in the 30 million range and then it would have required authorization from an MD.

(in reply to Sanity)
Profile   Post #: 3
RE: Do you believe wrong button pushed DOW? - 5/8/2010 12:43:36 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		When I traded stocks - there was a limit in quantity and dollar amount.   I ran into the limit when buying penny stock.

(in reply to auditguy)
Profile   Post #: 4
RE: Do you believe wrong button pushed DOW? - 5/8/2010 12:51:14 PM   
auditguy


Posts: 182
Joined: 3/7/2009
Status: offline 		There is still a possibility of thresholds being ignored.  I mean no control is perfect and they get lex over time, but that would take a monumental error to let that kind of mistake go through.  It is not like there is just one button pressed; there is an entire confirmation process that has to be executed when dealing with volumes in the billions.  Still systemic failures have been known to occur, so while I don't believe it was a wrong button it would not shock me.

(in reply to pahunkboy)
Profile   Post #: 5
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