Reply #28: Slightly wrong [View All]

[howaboutme]

The markets are controlled by a tiny few. Anyone foolish enough to entrust their savings to the hucksters of Wall Street probably deserve what they got, except those who lost were probably pensions and others who represent many investors who had placed trailing stop loss orders on their holdings. The market was sent into a tailspin by a few who profited, just as they did on 9-11-01.

SL only works with an orderly market. When it is out of control it is not orderly. Those with SL orders were converted to market orders as soon as the SL offer was hit. Then they went market which meant to sell at any price, and caused cascading downward prices because there were no bids. I have never entrusted my savings to Wall Street because I know what they are and what they represent, it is all about skimming from average Americans and the disenfranchised.