Trading halted as U.S. stocks plummet

Post by dannylandau » Mon, Mar 09, 2020, 5:51 PM UTC

cletus wrote: post #315

So, children of summer (there are many here who have only known the longest bull market in the last century), let me give you some free advice. If you're looking at this and wondering when to get in, to bargain hunt essentially, and you're asking yourself questions like "today? next week?", you need to step back and think again. Some points to consider: - If your time horizon is 10+ years out probably none of this ma…

Post by davis_m » Mon, Mar 09, 2020, 5:52 PM UTC

abraxas wrote: post #299

bilekas wrote: post #180

Genuine 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 too think it's inane. Some of us want to get into the market but not at these prices. Yet the whole system is built around trying to push markets into higher and higher prices at all times. Here's a brilliant idea, introduce a rule that says you can only sell a security for more than what you paid. Voila, endlessly rising prices forever! Feels like a con.

Post by geerlingguy » Mon, Mar 09, 2020, 5:53 PM UTC

endorphone wrote: post #190

frgtpsswrdlame wrote: post #179

Currently 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.

Post by sweeneyrod » Mon, Mar 09, 2020, 5:53 PM UTC

allovernow wrote: post #279

jamesjyu wrote: post #268

Earlier quoted context omitted.

"No one will be able to time this" "put your retirement into bonds and hold on" facepalm

What? That's how you minimize risk because there's a good chance the markets will continue to slide. It's literally why the markets are down - because investors are pulling out and parking their cash in safer havens.

Post by EthanHeilman » Mon, Mar 09, 2020, 5:53 PM UTC

noja wrote: post #303

_se wrote: post #186

Earlier quoted context omitted.

"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…

Do they have circuit breakers in the other direction?