It did the trick. Everyone is talking about it and my friends are buying.
I dont think its time to buy yet. If we have a multiple month disaster that requires quarantining most of the population the market will fall further.
Trading halted as U.S. stocks plummet
181–190 of 1001 posts
Re: Trading halted as U.S. stocks plummet
#182Genuine question: They can just do that ? Issue a trading halt because they don't like the direction it's going ? > “There’s a reason why they have those circuit breakers -- it’s to give people time to come back from panicked feelings,” Seems strange that the market is kinda able to be manipulated like that. I'm not saying this is a bad move, just surprised that someone can do it.
Yes
Re: Trading halted as U.S. stocks plummet
#183It did the trick. Everyone is talking about it and my friends are buying.
could be a bull trap
Re: Trading halted as U.S. stocks plummet
#184To be honest , the market was in dire need for correction, BUT wonder where we will be when companies starts reporting their quarterly results and impact of that.
So far this looked more like a correction than a precursor to the recession. To make things worse, OPEC dropped bombs which spread the wildfire further..
Re: Trading halted as U.S. stocks plummet
#185Genuine question: They can just do that ? Issue a trading halt because they don't like the direction it's going ? > “There’s a reason why they have those circuit breakers -- it’s to give people time to come back from panicked feelings,” Seems strange that the market is kinda able to be manipulated like that. I'm not saying this is a bad move, just surprised that someone can do it.
I believe it's true for the other direction as well, it's just pretty rare to see a 7% upward move in a single day. I mean, it's rare to see it on the downside too, but not as rare.
Limit up/down rules are not discretionary. They're circuit breakers that fire deterministicly.
Re: Trading halted as U.S. stocks plummet
#186Genuine question: They can just do that ? Issue a trading halt because they don't like the direction it's going ? > “There’s a reason why they have those circuit breakers -- it’s to give people time to come back from panicked feelings,” Seems strange that the market is kinda able to be manipulated like that. I'm not saying this is a bad move, just surprised that someone can do it.
"They" don't do anything - this is called a circuit breaker, and is automatically triggered. There are three breakers:
L1 - 7% down before 3:25pm - 15 minute halt
L2 - 13% down before 3:25pm - 15 minute halt
L3 - 20% down - halted for the remainder of the day
Only a single L1 and a single L2 breaker can occur in a single day, e.g. the market falling below 7%, rising, then falling again will not trigger a second L1 breaker, but falling to 7%, up to 5%, then down to 13% would trigger an L2.
FYI this is the kind of thing you have to know to become registered as a securities representative.
Re: Trading halted as U.S. stocks plummet
#187Genuine question: They can just do that ? Issue a trading halt because they don't like the direction it's going ? > “There’s a reason why they have those circuit breakers -- it’s to give people time to come back from panicked feelings,” Seems strange that the market is kinda able to be manipulated like that. I'm not saying this is a bad move, just surprised that someone can do it.
Consider the alternative.
Re: Trading halted as U.S. stocks plummet
#188Serious question, is anyone watching this carefully and trying to determine when things will bottom out (perhaps in a week or two), to buy stocks, ETFs, and such at the bottom of the dip?
Hindsight is 20:20 of course, but there's a number of equities that one could have purchased shortly after the 2008 financial crisis that proceeded to make significant gains between 2009 and 2019.
Re: Trading halted as U.S. stocks plummet
#189Genuine question: They can just do that ? Issue a trading halt because they don't like the direction it's going ? > “There’s a reason why they have those circuit breakers -- it’s to give people time to come back from panicked feelings,” Seems strange that the market is kinda able to be manipulated like that. I'm not saying this is a bad move, just surprised that someone can do it.
"They" don't do anything - this is called a circuit breaker, and is automatically triggered. There are three breakers: L1 - 7% down before 3:25pm - 15 minute halt L2 - 13% down before 3:25pm - 15 minute halt L3 - 20% down - halted for the remainder of the day Only a single L1 and a single L2 breaker can occur in a single day, e.g. the market falling below 7%, rising, then falling again will not trigger a second L1 br…
Okay thats fine, but who implements/decides these circuit breakers ? And what purpose to they serve only to limit a mass sell off ?
Nice point about only 2 daily. But still seems crazy.
Re: Trading halted as U.S. stocks plummet
#190Currently only 6% down, perhaps (anecdotal) evidence that halts work?
Days with a large pre-market drops often follow this pattern. As the end of the day approaches the selling often becomes panicked again.