PDA

View Full Version : Poop Who bought Accenture at $0.01/share and then sold at $40/share?


jAZ
05-08-2010, 04:49 AM
http://blogs.wsj.com/marketbeat/2010/05/06/accenture-went-to-a-penny-at-248-pm/

Accenture: Went to a Penny at 2:48 p.m.
By Matt Phillips

You think the action in Procter & Gamble was weird, check out the nosedive on Accenture, which plummeted from above $40 at 2:47 p.m. to $0.01 at 2:48 p.m. Had demand for consulting services declined so sharply in that one minute?

Obviously there was some sort of technical snafu out there. Still, it seems that the worries in Greece were seriously worsening Thursday. So how much of that scare was robots gone wild and how much was sensible worry from flesh and blood investors? We’ll have to wait and see, though we did close down more than 3% on the Dow.

CrazyPhuD
05-08-2010, 06:16 AM
Zero people....they cancelled all trades outside of a 60% collar.

BigRedChief
05-08-2010, 07:53 AM
Someone was manipulating the market. No friggin way that drop was an accident.

Param
05-08-2010, 08:16 AM
Zero people....they cancelled all trades outside of a 60% collar.

/thread

Fat Elvis
05-08-2010, 09:33 AM
<object width="640" height="385"><param name="movie" value="http://www.youtube.com/v/lrlQSMCx-aE&color1=0x6699&color2=0x54abd6&hl=en_US&feature=player_embedded&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowScriptAccess" value="always"></param><embed src="http://www.youtube.com/v/lrlQSMCx-aE&color1=0x6699&color2=0x54abd6&hl=en_US&feature=player_embedded&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="640" height="385"></embed></object>

Fat Elvis
05-08-2010, 09:38 AM
http://www.zerohedge.com/article/overview-goldman-sachs-electronic-trading-part-1


A first and key observation is that Goldman's Direct Market Access program accounts for over a whopping 1 billion shares daily, as disclosed to clients by Goldman itself. When one considers that the NYSE's trading volume has recently been in the 1-1.5 billion shares per day range (a number that has been consistenly dropping over the past decade, and explains the NYSE's animosity toward other new exchanges such as Direct Edge, which however shot themselves in the foot by procuring clients thru the adoption of such shady practices as Flash Orders), and one can see how Goldman is becoming a dominant force in the market landscape, and why all other market participants are sweating profusely.

Iowanian
05-08-2010, 10:31 AM
Someone was manipulating the market. No friggin way that drop was an accident.

It was a long legged mac daddy from Chicago.

Rain Man
05-08-2010, 10:32 AM
<object width="640" height="385"><param name="movie" value="http://www.youtube.com/v/lrlQSMCx-aE&color1=0x6699&color2=0x54abd6&hl=en_US&feature=player_embedded&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowScriptAccess" value="always"></param><embed src="http://www.youtube.com/v/lrlQSMCx-aE&color1=0x6699&color2=0x54abd6&hl=en_US&feature=player_embedded&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="640" height="385"></embed></object>


This is depressing stuff. Those in power can not only manipulate the markets, which I have no doubt is happening, but they can also make a call to the FBI and get someone arrested in two days. When I was offered a rigged bid several years back and turned in the government employee who offered it, I was told to go away and not bother the attorney general's office any more.

Stewie
05-08-2010, 01:24 PM
<object height="385" width="640">


<embed src="http://www.youtube.com/v/lrlQSMCx-aE&color1=0x6699&color2=0x54abd6&hl=en_US&feature=player_embedded&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" allowscriptaccess="always" height="385" width="640"></object>

If you want to see what scumbags Goldman Sachs are read the book When Genius Failed: The Rise and Fall of Long-Term Capital Management.

They have so much control over the Federal Reserve that they get all the inside information. When LTCM nearly caused the collapse of Wall Street in '96, GS used that information to bet against everything LTCM was holding. They knew LTCM had to sell and shorted everything they owned. It's a fucking disgrace they can get away with that shit. GS made million$ and LTCM investors lost damn near everything they invested.

Stewie
05-08-2010, 02:10 PM
Oh, and only the dumbest of the dumb would sell shares for $0.01. That means investors were putting in market sell orders which is stupid.