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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?


To: the Chief who wrote (2270)1/14/1999 3:09:00 PM
From: Paul Butler  Read Replies (1) | Respond to of 62348
 
I'll throw my two cents in...

The NYSE market shuts down for 30 minutes after a 350 pt drop and an hour after a 550 pt drop. The market closes for the day if the 550 drop occurs after 3:00.

The curbs that you are alluding to are put in place to slow trading as you pointed out, but I believe it means that you can't be selling on a downtick. It prevents a free-fall basically.

Paul



To: the Chief who wrote (2270)1/14/1999 3:32:00 PM
From: eWhartHog  Read Replies (1) | Respond to of 62348
 
Chief,

Don't confuse trading curbs with trading halts. Curbs on program trading are invoked when the Dow moves up or down 50 points, but general trading halts result from a Dow decline (not a gain) of 350 or more.

After 3pm a 550 point loss is needed to stop trading.

Regards,
John