Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: J.T. who wrote (1428)	6/25/1997 3:18:00 PM
From: Tommaso	of 94695

Question to anyone: What effect do the "circuit breakers" really have on price action? Have these in fact helped to ratchet the market up by stopping sudden corrections? I know it works both ways, but closing things down every time you get a dramatic drop may have had a psychological effect of a "safety net" --which really is not there. Also, will these trading curbs prevent mutual funds from redeeming at NAV as promised? What if the market is shut down every day after a half-hour of trading for a week straight? As for me, I would really enjoy seeing the market make ten 350-point drops in a row. More fun than watching Nixon resign. (350 points is the daily limit, as I understand it--or is that only for program trades?)

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