September 11th delayed opening

Originally posted by OPTIONAL777

This kind of thinking, when it runs roughshod over investing, valuation, and reflection on whether it is wise to invest.....

will in my opinion eventually lead to a devastating collapse of the markets, when the selling of momentum only trading and investing becomes stronger than the reasoning process.

Just my opinion, but what we see in the markets is certainly not what investors are seeking.

I suppose this is my biggest gripe about the increasing amount of trading for the sake of trading.

It produces nothing except volatility for the sake of trading. It is casino action, not reflective of valuation or economic development.



Santoli at Barrons who writes the lead in to the Marketweek section - The Trader - this week was commenting on the growth of ETF volume and the reasons for it. Interesting read that your post made me think of.

Maybe few individuals will trade stocks one day. Instead the float will be owned by big institutions/specialists that by rule have to back an ETF with the shares or whatever and all we will see is mindless momentum trading of the ETFs by those who will "rent"
out exposure to the markets for very short periods for us to "lease" for a few moments or hours to see if we can make a buck. NYSE/AMEX volume will be more and more ETFs as more of them are added and so on.

Someone else here last week had a board going on trading to collect rebates and how it effects NAZ stock price action. That's a rock I don't even want to turn over and look under.
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Heck, I didn't even know there was one until I read this thread. 11AM EST means 8AM Pacific. Looks like I get to sleep in Wed.

As far a 'patriotic buying' goes you can throw that out the window. If any buying happens watch for it mon and tuesday.

-triple

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"real eyes see real lies"
 
Originally posted by OPTIONAL777
NYSE Opening Bell on 9/11 to Follow Memorial Service

NEW YORK, Sept. 5 – On Sept. 11, the New York Stock Exchange will open for trading 30 minutes after the conclusion of the memorial service being held at the World Trade Center site, but not before 11 a.m. Should the event last longer than its anticipated 10:29 a.m. conclusion, the NYSE will delay its opening beyond 11 a.m. The Exchange will announce the exact timing of the opening bell following conclusion of the memorial service.
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I wonder if they will allow LOO orders then?

It could be real juicy, as I assume the futures will continue trading without the cash open?

nitro
 
Futures are closed also and the CME is requesting a voluntary mintue of silence on GLOBEX.

http://www.cme.com/news/shownews.cfm?NewsItem=0005A99B-1B4E-1D65-9F0F80EDBEFB0000
<b>
CME Announces Trading Schedule for September 11, Plans Minutes of Silence, Delayed Opening for Stock Indexes</b>

CHICAGO, Aug. 22, 2002—Chicago Mercantile Exchange Inc. (CME) has announced that on Sept. 11 the exchange will observe minutes of silence on its trading floors at 7:46 a.m. (Central time) and 9:29 a.m. and will delay the opening of stock index trading until 10 a.m. In addition, foreign exchange and interest rate markets will close one hour early, at 1 p.m.

Market participants trading on CME’s GLOBEX® electronic trading platform are encouraged to observe voluntary minutes of silence (no GLOBEX activity) at 7:46 a.m. and 9:29 a.m. (See table below for specific product hours on GLOBEX.)

The revised trading hours are in observance of the first anniversary of the events of Sept. 11, 2001, and are coordinated with that day’s trading hours on the New York Stock Exchange and other markets related to CME’s products.

GLOBEX trading will halt at 8:15 a.m. (GLOBEX market participants are encouraged to observe a voluntary minute of silence at 7:46 a.m.) All stock index products will open at 10 a.m. (GLOBEX and open outcry trading) and will close at their normal times.
 
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