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Started By
Message
Do you remember the infamous "Flash Crash" that happened almost 15 years ago?
Posted on 4/23/25 at 6:54 pm
Posted on 4/23/25 at 6:54 pm
On May 6, 2010 at approximately 2:45 PM EDT, the stock market crashed.
The Dow Jones 30 Index fell approximately -9% within minutes.
This board was lit. Some posters on here afterwards claimed they sold out big chunks of their stock portfolio in a panic.
It was a wild half hour or so.
Here's a link which describes the event:
LINK
The Dow Jones 30 Index fell approximately -9% within minutes.
This board was lit. Some posters on here afterwards claimed they sold out big chunks of their stock portfolio in a panic.
It was a wild half hour or so.
Here's a link which describes the event:
LINK
Posted on 4/23/25 at 7:08 pm to LSURussian
I remember driving around on my lunch break listening to it on the radio pissed off I wasn't at the office in front of my computer 

Posted on 4/23/25 at 7:13 pm to fallguy_1978
quote:
listening to it on the radio
I was listening to the big 870 WWL as I do every day.
Posted on 4/23/25 at 7:25 pm to LSURussian
Was this when someone hacked the AP Twitter account and posted there was an explosion at the WH and Obama was injured?
Or was that a different flash crash
Or was that a different flash crash
Posted on 4/23/25 at 7:33 pm to LSURussian
They blamed it on this guy, but its really a fault in the system.
Posted on 4/23/25 at 7:40 pm to LSURussian
quote:It was indeed. Crazy! At that time we were still handling everything under roof. We'd just reaccumulated a decent cash position w/ Cap Gains following the Feb-Mar 09 escapade. I was at the hospital. When the crash happened, MsNC, to her credit, tried to push a large amount of cash in on limit orders. Only ended up bagging about 40% of those. Still quite a haul, but TD Ameritrade was slow. Quite a story when I got home that night .... totally unaware.
It was a wild half hour or so.

Posted on 4/23/25 at 7:56 pm to NC_Tigah
quote:It seems like some brokers reversed some transactions claiming the event was a force majeure which invalidated some transactions.
MsNC, to her credit, tried to push a large amount of cash in on limit orders. Only ended up bagging about 40% of those. Still quite a haul, but TD Ameritrade was slow.
I didn't have any trades during the crash so it didn't affect me.
Posted on 4/23/25 at 8:02 pm to HailHailtoMichigan!
quote:I think that was the crash in 2013.
Was this when someone hacked the AP Twitter account and posted there was an explosion at the WH and Obama was injured?
Posted on 4/23/25 at 8:48 pm to LSURussian
I know a few people that found out how a stop loss worked the hard way…
Posted on 4/23/25 at 8:51 pm to slackster
Sucks when your SL gets gapped over because no one was buying at your price
.

Posted on 4/23/25 at 9:07 pm to NC_Tigah
quote:
When the crash happened, MsNC, to her credit, tried to push a large amount of cash in on limit orders. Only ended up bagging about 40% of those. Still quite a haul, but TD Ameritrade was slow. Quite a story when I got home that night .... totally unaware.
What does/did your wife do that she was aware and able to place a bunch of limit orders during the 36 minutes of the flash crash?
Maybe I’m misunderstanding and you had some optimistic GTC limit orders that you had placed prior to the crash, but the way you’re telling the story sounds almost unbelievable.

Posted on 4/23/25 at 9:17 pm to James11111
yes, a 36 year old man with autism who worked from his parents home as a trader cause the second biggest intraday point decline in the Dow
Posted on 4/23/25 at 9:30 pm to TigerintheNO
quote:
yes, a 36 year old man with autism who worked from his parents home as a trader cause the second biggest intraday point decline in the Dow
He was never blamed for the entire thing. He wasn’t even arrested until 2015. There were multiple reports blaming HFT, algos, etc before he even came up. The SEC report itself never even mentioned him.
His trading came up later and was found to have exacerbated the problem. This thread has a little revisionist history.
Posted on 4/23/25 at 11:12 pm to Paul Allen
quote:powerhouse of the gulf south
I was listening to the big 870 WWL as I do every day.

Posted on 4/24/25 at 4:14 am to slackster
quote:She trades stocks. Summa Cum Laude Accounting/Finance. Eventually left the office to WFH managing our accounts. So to answer your question, that's what she does.
What does/did your wife do that she was aware and able to place a bunch of limit orders during the 36 minutes of the flash crash?
The day of the crash, she had CNBC on per the norm, and was in the office, at the computer, lining up a couple of orders when the thing hit. Those orders went through. Nothing else did. Makes it sound like we're a pair of day-traders. We aren't. But just the way it happened that day.
This post was edited on 4/24/25 at 6:11 am
Posted on 4/24/25 at 6:39 am to NC_Tigah
quote:
She trades stocks. Summa Cum Laude Accounting/Finance. Eventually left the office to WFH managing our accounts. So to answer your question, that's what she does.
Sounds like she should be on this board, not you baw
Posted on 4/24/25 at 7:56 am to Upperdecker
quote:The chance of her interfacing with scoundrels here is just about zero.
Sounds like she should be on this board, not you baw

But I have a bit more time to keep up with markets now than I did then
Posted on 4/24/25 at 8:42 am to LSURussian
quote:
On April 21, 2015, nearly five years after the incident, the U.S. Department of Justice laid 22 criminal counts, including fraud and market manipulation, against Navinder Singh Sarao, a British financial trader. Among the charges included was the use of spoofing algorithms; just prior to the flash crash, he placed orders for thousands of E-mini S&P 500 stock index futures contracts which he planned on canceling later.[11] These orders amounting to about "$200 million worth of bets that the market would fall" were "replaced or modified 19,000 times" before they were canceled.[11] Spoofing, layering, and front running are now banned.[4]
I'd forgotten about that. Where have the years gone?From LSURUSSIANS link. 19000 times.

That high functioning autism is something else.
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