Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (13292)	8/30/1998 8:29:00 PM
From: craig crawford	Respond to of 18691

Press Releases Release Date: Tuesday, June 30, 1998 Subject Category:Other NYSE Announces Circuit Breaker Levels for Third-Quarter 1998 NEW YORK, June 30, 1998 -- The New York Stock Exchange will implement new circuit breaker trigger levels for third-quarter 1998, effective Wednesday, July 1. The points represent the thresholds at which trading is halted market wide for single-day declines in the Dow Jones Industrial Average. The 10, 20 and 30 percent decline levels, respectively, in the DJIA will be as follows: A 900-point drop in the DJIA will halt trading for one hour if the decline occurs before 2 p.m.; for 30 minutes if before 2:30 p.m.; and have no effect between 2:30 p.m. and 4 p.m. A 1,750-point drop will halt trading for two hours if the decline occurs before 1 p.m.; for one hour if before 2 p.m.; and for the remainder of the day if between 2 p.m. and 4 p.m. A 2,650-point drop will halt trading for the remainder of the day regardless of when the decline occurs. Point levels are set quarterly by using the DJIA average closing values of the previous month, rounded to the nearest 50 points. The percentage levels were first implemented last April and are adjusted quarterly on Jan. 1, April 1, July 1 and Oct. 1. Adopted on Oct. 19, 1988, circuit breakers originally halted trading for one hour with a 250-point drop and two hours with a 400-point decline. From Feb. 3, 1997 until last April, circuit breakers called for trading halts of 30 minutes and one hour with 350- and 550-point declines, respectively. If triggered in the last 30 or 60 minutes of the trading session, respectively, the market was closed until the next trading day. Circuit breakers were triggered for the first and only time on Oct. 27, 1997, when the DJIA fell 350 points at 2:35 p.m. and 550 points at 3:30 p.m. That reflected an approximate 7% overall decline and shut the market for the remainder of the day.