Exposing Ideas to the Envelope of Serendipity

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Monday, May 10, 2010

Seeking Stabilization

Thursday's historic market crash wreaked havoc around the globe, and in the stock portfolios of many traders. Fortunes were made and lost in the blink of an eye, while close to a trillion dollars in stock holder wealth vanished in sixteen minutes. Those of us glued to our trading screens witnessed something that was terrifying, or should have been, for both longs and shorts alike. To put the event in perspective, the Dow's intraday plunge was the biggest ever to have occurred, crashing 998 points before shooting back up to recover a chunk of the losses in a dizzying bounce that delivered additional disorientation. The vulnerability of market participants increasingly at the mercy of computerized trading networks reverberated everywhere. 
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