Subject: [extropy-chat] No news on DJI trading computer glitch?

From: [email-masked]
Date: Wed, 28 Feb 2007 15:38:35 +0000

Yesterday there was some kind of computer glitch in either the trading or trading reporting system involving the Dow Jones Industrial average?  Evidently it compounded the swing?

Has anyone been able to find any decent news about this event?

All the reports I can find are obviously written by technical Neanderthals as reported by the brain dead traders using the system.  I can’t find any technical data news anywhere.

Was the problem with the trading itself?  Or was it just the reporting of the trade and the aggregation of the news to determine the real time DJIA numbers?  Was it purely volume the system was unable to handle?  Or was there some actual technical breakdown?  How long was the problem occurring before they switched to the “backup system”.  I’ve heard multiple views on most of these questions from all over the place.

Aren’t there any smart people that know what really occurred somewhere?

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From: "Robert Bradbury" <[email-masked]>
Date: Wed, 28 Feb 2007 12:06:37 -0500

On 2/28/07, [email-masked] <[email-masked]> wrote:

[snip]

Aren't there any smart people that know what really occurred somewhere?

This is the first I've heard of such (that computer problems may have played
a role).

The NY Times seems to be blaming lack of confidence in the Chinese markets
which are in turn feeding back into the U.S. markets.  But the Chinese
markets were being fed involving questions about the strength of the U.S.
market (sounds like a recipe for a feedback loop similar to Black Monday but
displaced in time and form).

Interesting in that the number I've seen cited on the news is a loss of $623
billion.  That is about half of amount I estimated as a requirement for the
development of real nanotech (> $1T) about 5 years ago.  So it would seem
that having or not having real nanotech is getting to the point of being
"chump change" in the markets.

Robert