“Flash Crash” of May 6, 2010… The market event that occurred on May 6, 2010 is now known as the “Flash Crash”. “Flash Crash” accurately describes the situation, as the market crashed for just a flash, as seen below: Over before you know it… For those not watching the market closely and not having stop orders, the “Flash Crash” happened and everything was pretty much just as before. But for investors watching the market tank and selling in a panic or for those investors with stop orders set, the “Flash Crash” was most likely a disaster.
Month: May 2010
RIG – Fish or Cut Bait
Fish or Cut Bait… A key to successful investing is knowing when to get out of a position. For example, the PowerOptionsApplied Titanium TradeFolio(tm) was invested in a covered calls position for Transocean Offshore (RIG). On April 20, 2010 RIG’s Deepwater Horizon drilling rig caught fire and subsequently sank leaving in its wake a huge and growing oil slick in the waters of the Gulf of Mexico. The Deepwater Horizon was being operated by British Petroleum (BP).