O.K First of all the exchanges now have circuit breakers in place. Trading is halted either after a 10% or 20% drop, depending on the time of day when the drop occurs. Maximum drop in the DJIA in one day is 30%.
If the market is heading toward a halt, and you are still positioned the wrong...
You are not alone.
http://elitetrader.com/vb/showthread.php?s=&threadid=60562&highlight=dumbest
BTW, I guarantee that's not the last big mistake you are going to make in this business.
Yes, but the close on Monday is 10:30 C.S.T. Here is an e-mail I received from Transact Futures:
Times given are Chicago times.
Board of Trade
Friday, January 13:
Electronic trading: Metals contracts will close at 12:30 p.m.
Financial contracts will close at 1:00 p.m. All...
Anybody have time and sales during the spike? Looking at the chart, it appears the stock gapped 3 1/2 pts, then immediately sold off. Also, I see a high of 35, but the chart only shows 30 1/2. Clearly things are not correct.