Wow, someone took out those 5000 contracts in one swoop .... that was nuts.
70 points down gap in the ES....
- Thread starter Pekelo
- Start date
Agreed. The market will eventually have another REAL bear market correction, 20%+, maybe it starts now, or it trades back up through elections.
Any investor buying S&P over 2,100 was buying fool's gold. We're in the EIGHTH yearly bar of a directional up move, with no significant bear market pullback, similar to the roaring 20's. Everyone knows what happened in '29.
I'm waiting for a much bigger correction to 1,600 on the S&P, that will be my entry for a long term play upside.
Until then, just trade what you see.
Low oil prices have meant thousands of people in Texas and Oklahoma are out of a job.
I think there are only about 400 oil wells active today and 2,3 years ago there were 2500.
I don't want to pay 4 bucks for gas but I don't want 10k guys out of a job either.
Besides, 4 dollar gas just means more money leaving the country and going to the people that like us the least.
Yeah, I'm from Dallas.
Do Circuit breakers start at the open or after trading starts? If it is down 700 points at the start and hits the 7 percent .......does that mean they stop it for 15m at the open or do they adjust it from the opening price? It doesn't make sense that if it dropped 700 overnight to stop trading a minute after the open.
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The most recently updated amendment of rule 80B went into effect on April 8, 2013, and has three tiers of thresholds that have different protocols for halting trading and closing the markets.
At the start of each day, the NYSE sets three circuit breaker levels at levels of 7% (Level 1), 13% (Level 2) and 20% (Level 3). These thresholds are the percentage drops in value that the S&P 500 Index would have to suffer in order for a trading halt to occur. Base price levels for which these thresholds will be applied are calculated daily based on the preceding trading day’s closing value of the S&P 500. Depending on the point drop that happens and the time of day when it happens, different actions occur automatically: Level 1 and Level 2 declines result in a 15-minute trading halt unless they occur after 3:25pm, when no trading halts apply. A Level 3 decline results in trading being suspended for the remainder of the day.[1]
https://en.wikipedia.org/wiki/Trading_curb
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The most recently updated amendment of rule 80B went into effect on April 8, 2013, and has three tiers of thresholds that have different protocols for halting trading and closing the markets.
At the start of each day, the NYSE sets three circuit breaker levels at levels of 7% (Level 1), 13% (Level 2) and 20% (Level 3). These thresholds are the percentage drops in value that the S&P 500 Index would have to suffer in order for a trading halt to occur. Base price levels for which these thresholds will be applied are calculated daily based on the preceding trading day’s closing value of the S&P 500. Depending on the point drop that happens and the time of day when it happens, different actions occur automatically: Level 1 and Level 2 declines result in a 15-minute trading halt unless they occur after 3:25pm, when no trading halts apply. A Level 3 decline results in trading being suspended for the remainder of the day.[1]
https://en.wikipedia.org/wiki/Trading_curb
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Of course. There's several.
The last one was on the 24th of August 2015. Gap down 99 points.
Down another 40 points or so before reversing and almost closing by EOD.
...more like 2008.
Actually, you kind of can't compare no two events or eras in history -- they're completely different...organisms, or viruses.
But seriously. The ES was at 1999...
I was dreamin' when I wrote this, forgive me if it goes astray
But when I woke up this mornin', could've sworn it was judgment day
The futures deep red, there were people runnin' everywhere
Tryin' to run from the destruction, you know I didn't even care
Of course....the fed just released news of No more rate hikes for 2016 just as I predicted... Ease wallstreets 3% drop, cause on wallstreet there is no such thing as down...only up