3 ms·

Haha, you clearly weren't around for bear Stern's and lehman

manigandham 7y ago
I watched all that live and saw my own holdings tumble. There wasn't that much suspense though, nobody thought the market would suddenly go up.
- remote_phone 7y ago
  I bought Bear Sterns calls thinking it would blow over. The idea that Bear Sterns could just disappear like that was unfathomable at the time.
  - manigandham 7y ago
    You thought the market would go up? Specifically a bank? Sure the bankruptcy was a surprise but I really don't know of anyone back then who was expecting a recovery or even a minor bounce at all that year. Hopefully your options were LEAPs.
    - 1123581321 7y ago
      Many people thought either their situation was overstated or they would be rescued in some way that preserved more of the market value.
- grandridge 7y ago
  Bear closing at 50 and opening the next day at 2, everyone thought the world was ending. That was insane suspsense, today was nothing
- inferiorhuman 7y ago
  Were people really expecting the markets to go up today? Futures were mixed pre-market. Bloomberg, at least, was framing the optimism as due to people expecting central banks to intervene but central banks can only do so much when your supply chain evaporates. I was certainly caught off guard but still managed to make a bit of money (~6%) off of one of those idiotic volatility ETNs today.
  - manigandham 7y ago
    Yes, lots of people were. The market closed down 6 days in a row which almost never happens. There's no major collapse like 2008, just a powerful catalyst that led to a fast correction of 10% from all-time highs and released a lot of downward pressure.
    - inferiorhuman 7y ago
      Yeah the market is near all-time highs all the more reason there's going to be significant downward pressure. There's been no major economic collapse but China's industrial output is near record lows as evidenced by the air quality. None of this changed on Monday.
  - kenneth 7y ago
    You win some you lose some. I exit most of my put positions last week after getting up 13x. The position I kept, I got fucked hard by this Robinhood downtime. Ended up losing all of it, (4x of my original 13x profit), whereas I was trying to exit it early Monday. If I lose money on the market and it's my fault… fine. But when my broker causes the loss, I'm pissed

I watched all that live and saw my own holdings tumble. There wasn't that much suspense though, nobody thought the market would suddenly go up.

remote_phone 7y ago
I bought Bear Sterns calls thinking it would blow over. The idea that Bear Sterns could just disappear like that was unfathomable at the time.
- manigandham 7y ago
  You thought the market would go up? Specifically a bank? Sure the bankruptcy was a surprise but I really don't know of anyone back then who was expecting a recovery or even a minor bounce at all that year. Hopefully your options were LEAPs.
  - 1123581321 7y ago
    Many people thought either their situation was overstated or they would be rescued in some way that preserved more of the market value.
grandridge 7y ago
Bear closing at 50 and opening the next day at 2, everyone thought the world was ending. That was insane suspsense, today was nothing
inferiorhuman 7y ago
Were people really expecting the markets to go up today? Futures were mixed pre-market. Bloomberg, at least, was framing the optimism as due to people expecting central banks to intervene but central banks can only do so much when your supply chain evaporates. I was certainly caught off guard but still managed to make a bit of money (~6%) off of one of those idiotic volatility ETNs today.
- manigandham 7y ago
  Yes, lots of people were. The market closed down 6 days in a row which almost never happens. There's no major collapse like 2008, just a powerful catalyst that led to a fast correction of 10% from all-time highs and released a lot of downward pressure.
  - inferiorhuman 7y ago
    Yeah the market is near all-time highs all the more reason there's going to be significant downward pressure. There's been no major economic collapse but China's industrial output is near record lows as evidenced by the air quality. None of this changed on Monday.
- kenneth 7y ago
  You win some you lose some. I exit most of my put positions last week after getting up 13x. The position I kept, I got fucked hard by this Robinhood downtime. Ended up losing all of it, (4x of my original 13x profit), whereas I was trying to exit it early Monday. If I lose money on the market and it's my fault… fine. But when my broker causes the loss, I'm pissed