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********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********

 
Anonymous Coward
User ID: 495109
Netherlands
10/10/2008 11:12 AM
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********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********
today drop of 1100 by 2:00 pm

we close for an hour

if this happens expect extended bank holiday on this tuesday....




[link to www.salon.com]


Oct 9th, 2008 | NEW YORK — As harrowing as the stock market’s plunges have been in recent days, they still haven’t been enough to trigger the “circuit breaker” mechanisms that result in an automatic timeout in trading.

The Big Board implemented the automatic halts after the stock market crashed in the late 1980s to force traders to take a break from frenzied selling.

The Dow Jones industrial average would have to fall 1,100 points in a day to trigger the first halt. If that point is reached before 2 p.m., the market would shut down for an hour. If the threshold is breached between 2 p.m. and 2:30 p.m., the halt will last 30 minutes. No trading stops will take place if the plunge occurs after 2:30 p.m.

Based on Thursday’s Dow close of 8,579, the threshhold number to cause the market stop in one day would be 7,479.

If the index were to fall 2,200 points before 1 p.m., the market would close for two hours. If such a decline took place between 1 p.m. and 2 p.m., there would be a one-hour pause. The market would close for the day if stocks sank to that level after 2 p.m.

In the event of a 3,350-point decline, the market would close for the day, regardless of the time.

The thresholds are computed at the beginning of each quarter to establish a specific point value for the quarter. The 1,100-point drop represented a 10 percent decline at that time; the 2,200 level, a 20 percent drop and the 3,350 level is a 30 percent drop.

The rules would halt trading on the major securities and futures exchanges in a coordinated cross-market halt if the circuit breaker is enacted.
Anonymous Coward
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10/10/2008 11:12 AM
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Re: ********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********
:triggercha:
Anonymous Coward (OP)
User ID: 495109
Netherlands
10/10/2008 11:14 AM
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Re: ********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********
-380 1111


weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee



eeeeeeeee



eeeeeee






help
Anonymous Coward (OP)
User ID: 495109
Netherlands
10/10/2008 11:23 AM
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Re: ********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********
lehman auction will take abit of time

but somewhere in next hour or so


watch the panic on on book derivative

today just them 300 biliion leveraged in losses


with more fom off book or ballance sheet derivatives


that will be 10-100 times worse.... no one knows


also other cds auctions today


Markets fret over 'day of reckoning' on crucial Lehman CDS auction
By Matthew Goodburn | 13:13:11 | 10 October 2008

The ambiguity surrounding this evening's auction for the settlement of Lehman Brothers' credit default swaps (CDS) has contributed to today's plunge across global stockmarkets.

Wall Street is branding today a 'day of reckoning' as banks, hedge funds and other financials wait to hear how much they are likely to gain or lose from the process which takes place later today.

According to Reuters Knowledge, Lehman Brothers had around $113 billion of borrowings outstanding when it filed for bankruptcy last month, but its CDS debt level is estimated to be at least three times higher
Anonymous Coward (OP)
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Netherlands
10/10/2008 11:25 AM
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Re: ********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********
Fannie Mae (FNM) and Freddie Mac (FRE) auctions were October 6,Lehman is October 10, and Washington Mutual is scheduled for October 23
Anonymous Coward
User ID: 521693
Ireland
10/10/2008 11:26 AM
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Re: ********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********
Actually if it falls 850pts we will close

As it is 1100pts OR 10%
Anonymous Coward
User ID: 521693
Ireland
10/10/2008 11:27 AM
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Re: ********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********
Little risk of that at the moment.

Trading steady around -200-> -350

Down 345.20 (4.02%)
Anonymous Coward (OP)
User ID: 495109
Netherlands
10/10/2008 11:42 AM
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Re: ********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********
this is it


g20 world meeting sat with paulson bernake

g7 world meeting today with paulson bernake


==========================

congress on vacation


state gov on vacation


bush is on vacation



consequence management response team waiting for order


can u see perfect storm
Anonymous Coward
User ID: 445358
United States
10/10/2008 11:44 AM
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Re: ********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********
iwish iwish iwish iwish iwish iwish iwish iwish iwish iwish iwish iwish iwish iwish
mj-13

User ID: 522512
United States
10/10/2008 11:49 AM
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Re: ********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********
:triggercha:
 Quoting: markusmaximus

gaah
koffycup
User ID: 515011
United States
10/10/2008 11:49 AM
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Re: ********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********
AND....... it's the end of 700 years!
Anonymous Coward (OP)
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Netherlands
10/10/2008 11:57 AM
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Re: ********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********
Index Value: 8,116.51
Trade Time: 11:56AM ET
Change: 462.68 (5.39%)
Prev Close: 8,579.19
Open: 8,568.67
Day's Range: 7882.51 - 8687.11
52wk Range: 8,523.27 - 14,280.00
Anonymous Coward (OP)
User ID: 495109
Netherlands
10/10/2008 12:26 PM
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Re: ********STOCK MARKET WILL CLOSE for 1 hour at 2:00 PM if we fall 1100 points********
Index Value: 8,292.53
Trade Time: 12:24PM ET
Change: 286.66 (3.34%)
Prev Close: 8,579.19
Open: 8,568.67
Day's Range: 7,882.51 - 8,687.11
52wk Range: 8,523.27 - 14,280.00


bump rally now





GLP