Did the open orders cancel or not?

E

exaz

Luckily I'd closed my position, but are the folks had open positions need to live with the outcome once the GLOBEX opens again?

It seems wrong if so. GLOBEX should close the open positions at the time the system dropped IMO.
 
This is a Message From: GLOBEX Control Center

Effect Date: Thu May 1, 2003 02:32 pm CST

Notice Number:

Message: GLOBEX Markets will not re-open for today's trade date May 1.
All day and session orders will be canceled prior to the opening of
the next trading session May 2.
 
Quote from SethArb:

one of these ....

SPY ( equities )
YM ( e mini futures)
DIA ( equities or SSF's )
More...

I agree Seth.. I realize that the minis went down, but there were plenty ways to hedge or even take advantage of the move. There are too many people bashing Globex. If people really had positions, it would have been relatively easy to hedge. Too many paper traders who are whiners.
 
While everyone was pissing and whining about Globex, the rest of use made some handsome profits in the YM.

I think Clint Eastwood said it best in Heartbreak Ridge:

"Adapt, improvise and overcome"
 
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