Program Trades News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Sell when the market is falling. you don't want to do that. if your in for retirement purposes don't sell now because -- in fact, i think -- i kind of agree with you. at some point this will bottom out. when it does, i think the market will go on its way. don't sell in a down market. >> there's an old phrase on wall street, don't just, you know, stand there, do something. don't just do something stand there because you're going to make a mistake in your own retirement right now. and stephen is right. since the election, the dow is up 33%. now, it's lost all of the gains for the year and lost a...

know now is are we getting into another recession now? >> no. i submitted my forecast to the various polls last week and said no, the economy would grow faster in the second half, things will get better. are there perils? of course. >> those with money who don't need credit or who have the ability to get credit can really do well in this economy and those without jobs at the bottom, with tough credit, are excused for thinking that things are bad. >> absolutely. if you don't have a job, it is still a depression outside. or still a recession. we're not growing fast enough to help those...

During the volatile trading session during the afternoon so that dropped basically 700 points in 15 minutes. we went from down 200 to down 900. they said it wasn't because of a glitch in the system. whether program trades or a backlog as art cashin talked about, whatever the reason they are saying it is not a mistake in the system. i just wanted to give that according to reuters to people at home. >> okay. what about the procter & gamble sell-off? how much does that have to do -- i mean, that's a major entity there on the dow. how much does that have to do with the way people reacted? >> well,...

Sources on trading desks telling us it was a bad trade for procter and gamble. how does one trade that badly and trigger the markets is unclear. >> it's possible for somebody to misrepresent the trading value of a single transaction. however, all that does -- that doesn't account for the 1,000 point move. what that does -- we talked about the rock going done the hill. what that does is kick the rock down the hill. but the acceleration we saw was those legitimate program trades, the same trades that say we're covering our short positions now that brought us back from 1,000 point down to 300 dow...