Thursday, May 6, 2010

Before This, Therefore Because of This?

People are trying to whitewash the crash today by saying that it was an "error" or a "glitch". There was a pricing mistake in Proctor & Gamble (PG), but it did NOT cause the mini-crash - a big market dive was already in progress before PG even started falling.

By about 2:30pm, the S&P had already fallen 3%, but PG was still FLAT on the day.

If you think this mini-crash was a "glitch"... please sell me some MGM puts tomorrow!

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