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Replies to post #16041 on Mostly: Classical

Replies to #16041 on Mostly: Classical
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Frank Pembleton

06/09/06 3:12 PM

#16042 RE: Andy R #16041

yeah, but nevertheless-- we've got gold swooning again today ... things are deflating, all together and all at once

except for oil
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Chary

06/09/06 5:22 PM

#16047 RE: Andy R #16041

The New York Stock Exchange said it instituted trading limits after the New York Composite Index <.NYA> lost 160 points. The trading collars, which were created after the 1987 stock market crash, limit index arbitrage sell orders of S&P 500 stocks.
http://futures.fxstreet.com/Futures/news/afx/singleNew.asp?menu=economicnews&pv_noticia=MTFH4796....
The NYSE imposes limits on index-arbitrage sell orders on the Standard & Poor's 500 index <.SPX> when the NYSE Composite falls more than 160 points in a session. The collar will stay in place until the NYSE Composite recovers to within 80 points of the previous day's close, according to the NYSE Web site.
http://futures.fxstreet.com/Futures/news/afx/singleNew.asp?menu=economicnews&pv_noticia=MTFH7084....


This is a bummer as the selling climax was artifically halted vs an exhaustion of supply. I need ask around and see what others think and need to think about this some more myself.