Flash Crash Analysis of May 6 Stock Market Plunge 411
Jamie found an interesting site that has many charts and graphs about the strange May 6 stock market plunge and rebound. There's a lot of information to consume over there, but it does a pretty good job of showing high-frequency trading is getting to be a real problem.
wow (Score:5, Funny)
So Jobs was right? (Score:5, Funny)
Re:So Jobs was right? (Score:5, Funny)
Yes, we could definitely use more Jobs right now...
Re:Oops... (Score:4, Funny)
Oops... I farted.
Sell! Sell! Sell!!
Actual Analysis (Score:5, Funny)
This is the actual analysis:
May 6
John (one of the wall street support technicians) was playin flash games on his workstation.
The stock market is stored under "market2010.swf"
He forgot to move it into the right folder N:\smarkets\closed\market2010q2.swf usually when this happens it's not so bad because
Unfortunately, the network admin did a flash game sweep and deleted *.swf as a routine cleanup
What happened was, the market2010.swf was deleted by the routine scan, so now they having to recreate all the data from memory. Stockmen are now trying to guesstimate how many shares they own.
When they say fat fingered, they aren't joking. N:\smarket has TONS of files and it takes AGES to load a 1000 files in icon view on Windows 98!
Re:How is this a problem? (Score:2, Funny)
If only somewhere there were an article that described the situation, it would really help us become informed about it. Maybe some site that focuses on news for nerds could post a link to it. That would be awesome.
Re:Oops... (Score:2, Funny)