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To: Brad Hill who wrote (27051)10/27/1997 1:26:00 PM
From: Autumn Henry  Respond to of 58727
 
CNBC said that 93l key support broken.

Amat 40+% sales in Asia.

7600 key support broken.

Means going down from here.

Only stabilization theory is Greenspan to soothe market.

A.

Another 75 down and we get halted for l/2 hour. That won't go over well.



To: Brad Hill who wrote (27051)10/27/1997 1:27:00 PM
From: Tom Trader  Read Replies (1) | Respond to of 58727
 
Brad, if 7400 does not hold and it is a 50-50 chance that it will,

I'd say that we will see the trading halt at 350 points



To: Brad Hill who wrote (27051)10/27/1997 1:30:00 PM
From: Alex Burns  Read Replies (1) | Respond to of 58727
 
They changed the Circuit Breaker from -250 to -350 on the Dow...

Circuit breakers afffect trading on the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE) where S&P 500 futures contracts are traded.

These are the provisions:

Trigger: DJIA +/- 50

This is known as "Rule 80A". If this trigger occurs, program trading curbs are put in effect. Essentially a key computer is turned off, so program trading must be done "by hand". Curbs are removed when the DJIA retraces it's gain/loss to the +/- 25 level.

Trigger: S&P 500 futures +/- 12

This is known as the "Sidecar" rule. If this trigger occurs, trading of the S&P 500 futures contract is suspended for 30 minutes, which effectively stops program trading.

Trigger: DJIA +/- 350

This is known as "Rule 80B". If this trigger occurs, the NYSE halts trading for 30 minutes.

Trigger: DJIA +/- 550

Also a provision of Rule 80B; if this trigger occurs, the NYSE halts trading for 60 minutes.

Alex



To: Brad Hill who wrote (27051)10/27/1997 1:43:00 PM
From: Kevin  Read Replies (6) | Respond to of 58727
 
Boy did I screw up! At 1:00 futures re-broke supp #2 and SPX was already below it...this is a signal for puts (again). I missed it because I was so busy dealing with other matters.

Oh well...there'll be a next time.

Anybody bottom fishing yet?

I may add to my Apr calls on CPQ, and open a longer term position in TXN (since my Nov trades are dead). Can't help myself....I'm convinced these two will pay off.

Kevin


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