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Strategies & Market Trends : Day Trading Rules
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To: Winston Kim who wrote ()6/15/1998 5:45:00 PM
From: Bo Bob Brain   of 40
 
An important rule to remember for big down days like today
is rule 80-A which states:

NYSE Rule 80-A

With a market downturn, NYSE rule 80-A, the "Stop-Ban rule may
take effect. If it does, it will have the following impact:

--Retail brokerage customers may place new Stop and Stop Limit
orders ONLY for 2,099 shares or less.

--Non-retail brokerage customers (non-individuals) such as
Institutional Brokerage or Financial Advisor customers, may not
place ANY new stop or stop limit orders.

Rule 80-A will take effect if the S&P 500 (SPX)futures drop 12 points.
This corresponds to a 70-90 point drop in the Dow Jones Industrials.
Once in effect, the restriction will be in place for the rest of the trading
day. Exception: If the drop occurs during the last 35 minutes of the
trading day, Rule 80-A will NOT take effect.
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