This is the order of the day:
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Just a tad. the lengths they go to hey?
This focus on secondary market action is depressing.
So some speculators might lose some money to other speculators. Big deal.
As Cullen Roche pointed out yesterday the Stock Market is the only market in the world where the customers do a runner when there’s a sale on.
The business of making stuff and selling stuff carries on regardless.
Neil,
Its the only market in the world were the ‘runner’ and the ‘sale’ are one and the same.
A self-perpetuating crisis no less.
But if the someone is a computer doing high-speed trading, appeals to reason will not work…
Good point James,
But then again computer will be perfectly calm as it carries on its work – in accelerating the crash.
The mere thought of that carries a certain, inevitable kind of schadenfreude (if only the faintest inkling). I probably shouldn’t say that but its true.
Richard,
One often sees these missives against “panic selling” when reality rudely intrudes upon the insulated world of the monied classes. What I am curious about is why the very same sources never warn against “panic buying”, such that is going on today…
No: that’s speculation for gain, ‘old boy’