S&P 500 Trading Halted

southall · Mar 9, 2020

S2007S said:
And the fed was waayyyyyyyy toooo quick to cut rates by 50 basis points last week. Fools.

They will probably cut another 50 or even 100 basis points soon.

S2007S · Mar 9, 2020

Wonder how many fools will start saying now is the time to buy equities....haaa

We have so much more further to go. Recession is coming and the fed cant stop it this time.

Only positive I see is the 30 year fixed rate falling to 2.50-2.75% which will save people thousands a year!!!

Time to refinance after fed lowers rates again at march meeting

S2007S · Mar 9, 2020

southall said:
They will probably cut another 50 or even 100 basis points soon.

And then comes negative rates for the next collapse. They should have waited until the recession to cut. They only have another percent to go, then what? Negative rates just like I have been predicting

gaussian · Mar 9, 2020

hhiusa said:
As far I can tell, trading has not resumed. I thought the rule was to pause trading for 15 minutes if a level one breach (-5%). Is it going to stay halted until stock trading resumes Monday? What does this mean for options? The time is 12:11 AM New York time and no activity.

Are they going to close the whole market Monday, because they would be the only way to stop the bleeding, since there are 500 stocks. Even if you stop the derivatives, the index is tied to stock performance. If those go, so too will the index, and thus, the futures when they resume.

Last I checked in aftermarket trading hours if 5% is breached the market is closed until the following New York open. However, I would be unsurprised if markets open at 9:30 ET and immediately start bleeding again. Limits down generally beget more limits down until the market figures out what is going on. Imagine how many sell limits are sitting on the books right now with all the people trying to liquidate their longs thinking the beating we took last week was enough.

S2007S said:
And then comes negative rates for the next collapse. They should have waited until the recession to cut. They only have another percent to go, then what? Negative rates just like I have been predicting

If your goal is create a one world financial system NIRP is basically the way to do it. I'm not sure I totally buy into the cabal of bankers trying to destroy the world but if they were NIRP would be a good place to start.

S2007S · Mar 9, 2020

Even cryptocurrencies are collapsing. More than $25 billion gone overnight

monkeyc · Mar 9, 2020

There is a 5% limit up as well, so there's nothing unfair or biased about limit down.

southall · Mar 9, 2020

gaussian said:
I would be unsurprised if markets open at 9:30 ET and immediately start bleeding again.

There will be margin call selling at the open for sure.

southall · Mar 9, 2020

monkeyc said:
There is a 5% limit up as well, so there's nothing unfair or biased about limit down.

But are there up price limits during RTH?

schizo · Mar 9, 2020

southall said:
But are there up price limits during RTH?

https://www.cmegroup.com/trading/equity-index/faq-sp-500-price-limits.html

schizo · Mar 9, 2020

With the limit down, you can only buy. But with the resting order of nearly 4000 on the ask, who's stupid enough to step up to the plate? Once you buy, you won't be able to sell.