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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: OX who wrote (44434)	5/9/2001 1:02:17 PM
From: Chris	Read Replies (1) \| Respond to of 44573

Yes your right. I wasn't sure myself so I checked with my broker and his reply follows (I guess his caps key was stuck!): ON OVER-NIGHT TRADING THERE IS A 2.5 % LIMIT ON THE UP-SIDE . WHEN THIS HAPPENS TRADING STOPS UNTIL 8:28 AM JUST BEFORE THE DAY-TIME OPEN . HOWEVER ON MAY 17TH THE 2.5 % CURCUIT BREAKERS WILL NO LONGER BE IN EFFECT The lack of a circuit breaker on the upside does seem sort of counter-intuitive based on the way the futures markets work. I guess there is not much chance of a major panic if the underlying stock index starts to run away to the upside (unless of course you happen to be short the index <G>). Are there upside limits in other contracts? I am essentially a 'tape reader' and I don't really think the lack of a 2.5% circuit breaker will be of any concern to me. In fact, the potential for added volatility seems to be a good thing. Am I missing something here? What's your take on all of this?