Did Jerome Kerviel commit a crime, or does he just have a knack for losing money?
Answers: He covered up losses by hacking Societe Generale's computer systems. If nothing else, he's guilty of fraud.
Both.
I'm certain he committed fraud by faking documents and/or entering fake trades to offset real ones.
I don't think we've seen even half of the real story so far ... there should have been many security checks along the way to losing 5B Euros and it doesn't seem plausible that one low level trader could have gotten around all the security measures.
What time does the US stock market open, in my time (I live in Alberta, Canada)?
Answers: It opens at 9:30 Eastern time. Which I believe is 7:30 or 6:30 Alberta time.
What does the appreciation of a stock's value depend on?
Answers: since you said "appreciation," I say future earnings and inflation.
It depends upon :
1. Company's earnings, past and expected future earnings.
2. Dividend payout ration, as to what percent of profit will be returned back to shares as dividend in future
3. Price to earning ration, higher PE means markets expects that the earning will be growing in future.
4. Some times market rumours and speculations.
5. Good news about company, like new contracts, better earning forcasts or takeover.
6. Debt to equity ratio, interest cover and many more factors but above ones are the main factors.