Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Ask DrBob -- Ignore unavailable to you. Want to Upgrade?

To: indexit who wrote (67205)	10/2/2002 4:56:18 PM
From: shoreco	Read Replies (1) \| Respond to of 100058

indexit, CNBC just said that a 5 million share sell program showed up on the books of GE, "yet" they are saying instead of shares it should of been 5 million dollars worth... In the meantime, GE is 1 down day away from a new 52 week low and they traded 2 million shares less than their 65 day average... The only error I see in that sell program, was the poor fella should of placed it months ago... So in reality, it was an error...LOL... EOM Shoreco

To: indexit who wrote (67205)	10/2/2002 5:12:27 PM
From: Louis V. Lambrecht	Respond to of 100058

Absolutely. It happened to the LSE some years ago: a guy hurted the keyboard with his elbow. Technically, not trading program, what happened seems to be a simple online trading error. Trading programs reputedly account for half the daily volume now. These are highly parametered and risk management based: no way to believe the Dollar vs. volume crap. Error: yes, possible (IMHO, unlikely).

To: indexit who wrote (67205)	10/2/2002 6:34:15 PM
From: bcrafty	Respond to of 100058

indexit, I don't buy it for a minute Like some of the big boys are going to let a mistake of that magnitude continue while they sit around twiddling their thumbs or yakking distractedly about the baseball.When did this supposed error occur, 12:30? 3:00? 3:48? The time of the supposed mistake and the swiftness of the reaction to it (if any) would surely tell whether it was a mistake or not. The CNBC explanation about the GE selling doesn't jibe; today's action seems in line with their overall average daily volume, and their decline today wasn't that severe anyway, IMO. And why isn't GE going up in AH? Could it be that they're waiting for tomorrow's lower prices to correct their "mistake" followed by a huge rally? <g> We'll see. BTW, I was short GE all day and found today's action quite nice, so I guess my program is working OK ;~} I read that know that 38% off all trading last quarter was program trading, as per yesterday's WSJ. I heard Saturday's Barron's had an article quoting a similar percentage.