Yeah, we delayed my 2pm meeting by half an hour to be out on the trading floor. Volume was high enough to crash a couple of GUI clients, but the system itself behaved beautifully.
The magic number (total theoretical profit before overhead, fees, etc. are deducted, and nearly doubled because we get two copies (exchange and clearing) of each trade) was around $23M on the day. And one of my senior traders did a single trade for $1M in profit. Woo hoo!
Thank goodness the markets are moving (even if it's down): We make money when they move regardless of the direction. It's been so quiet the past 2-3 weeks....
This 'major news' missed the point that the fall of 3.5% merely removed the profit in the market since the beginning of the year. Many felt we were due for a correction anyway; and there's more to come. I'm predicting the market will be up 6% over the year by December. Anything more will be gravy. I just wish I had some money to buy stock today!
Yeah, I knew the percentage fall wasn't anything like a record-setter although the precise figure wasn't to be found in the news until NPR's Morning Edition today. The absolute numbers loss was a bit of an eye-catcher though.
My employer's company stock program is back underwater again though. :-^
![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
bjarvis
![[identity profile]](https://www.dreamwidth.org/img/silk/identity/openid.png){kind=small}
no subject
Date: 2007-02-28 12:35 am (UTC)The magic number (total theoretical profit before overhead, fees, etc. are deducted, and nearly doubled because we get two copies (exchange and clearing) of each trade) was around $23M on the day. And one of my senior traders did a single trade for $1M in profit. Woo hoo!
Thank goodness the markets are moving (even if it's down): We make money when they move regardless of the direction. It's been so quiet the past 2-3 weeks....
no subject
Date: 2007-02-28 06:37 am (UTC)no subject
Date: 2007-02-28 03:06 pm (UTC)no subject
Date: 2007-02-28 05:10 pm (UTC)My employer's company stock program is back underwater again though. :-^