With thoughts and prayers to the good people of Lower Manhattan of course, but did they realy have to close the NYSE? Not sure why they couldn't just keep the electronic board open in one of their remote stations or something. Seems pretty drastic to shut down the big board completely. Did I miss something? Did I time travel back to the seventies when all trades come from the floor?
Let's hope TDW has no more outages like yesterday - it's nice to have a backup broker for that purpose
It's not about the exchange locations. It's about the power and network connections in the data centers (New Jersey - which got hammered) as well as the people who run the large market making firms. Just the people being unavailable would remove so much liquidity that they should be cautious.
So less liquidity leaving it vulnerable to trading manipulations maybe? Yeah I guess. Just curious.
Sure looks nasty down there.
Well futures were still open on some fronts and to be completely honest with you I had hoped for a whole lot more manipulation than anything I saw. I know trading can be at direct odds with basic humanity concerns and it's absolutely a sad affair but the reality is on a trading basis, this type of thing is where a lot of profits can lay.
You at least know you still have the hint of a soul when it disgusts you to be trading off of other peoples misery IE japan tsunami. You know it's possibly slipping away when you'll still trade on it anyway.
Something to ponder.
All in all I think it was a very good thing to just shut it down. It could have resulted in a world of hurt otherwise. I could envision all sorts of nastiness had a technical issue arisen during normal market hours.
Interesting you mention concerns over a technical issue. I wondered too if they didn't entirely trust their electronic platform and wanted to head off the posibility of a glitch and all the mayhem that would entail under the guise of not wanting to put real people in harms way.
I also entertained dark thoughts about the govt giving themselves an excuse to postpone the jobs report but dismissed them as unnecessarily conspiratorial.
I think it might be ... more liquidity. Too much liquidity.Originally Posted by underemployedactor
Nice one MoneyGal
Spent the day reading rat facts. A rat can tread water for 3 days. A rat can survive a fall from 50 feet, etc. People in NY are really wondering where the subway rats are going to go!
Frankly, I don't give a rat's a** where they go!!
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