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zanek
Registered: Aug 2009
Posts: 152 |
06-02-12 01:33 AM
Seriously people, this is getting really crazy.
And I quote:
"The Securities and Exchange Commission said on Friday that beginning in February, individual U.S.-listed stocks will be prevented from trading outside a range based on recent prices."
Isnt this supposed to be a free market ? Stocks can only trade where they want them to be now. Wow, I'm in my 30's but this seems like the dawn of the apocalypse.
For more liquid securities in the S&P 500 Index, Russell 1000 Index, and certain exchange-traded products, the band will be 5 percent above and below the average price of the security over the preceding five-minute period. For other listed securities the level will be 10 percent.
So stocks can only MOVE UP OR DOWN 5-10% . WOW , WTF
Come on my fellow americans, we can do better than this.
http://www.cnbc.com/id/47653714
-- Zanek
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Cdntrader
Registered: Mar 2001
Posts: 3427 |
06-02-12 02:03 AM
Quote from zanek:
Seriously people, this is getting really crazy.
And I quote:
"The Securities and Exchange Commission said on Friday that beginning in February, individual U.S.-listed stocks will be prevented from trading outside a range based on recent prices."
Isnt this supposed to be a free market ? Stocks can only trade where they want them to be now. Wow, I'm in my 30's but this seems like the dawn of the apocalypse.
For more liquid securities in the S&P 500 Index, Russell 1000 Index, and certain exchange-traded products, the band will be 5 percent above and below the average price of the security over the preceding five-minute period. For other listed securities the level will be 10 percent.
So stocks can only MOVE UP OR DOWN 5-10% . WOW , WTF
Come on my fellow americans, we can do better than this.
http://www.cnbc.com/id/47653714
-- Zanek
I'm sure this will all end well.
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sheda
Registered: Apr 2011
Posts: 621 |
06-02-12 02:35 AM
The so-called "limit up-limit down" initiative would pause trading for five minutes for securities if attempted trades remain outside the price band for more than 15 seconds. During that timeout period, traders could assess whether the move was based on fundamentals
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAH!!!!!!!!!!!!!!
!!!!!!!!!
Americas as screwed as Europe and just about as stupid. ~ Edit.............. Not referring to the general population of course, rather the trend we seem to be well on the way down.
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Bob111
Registered: May 2002
Posts: 6413 |
06-02-12 03:09 AM
cause they know that #1-nothing was done since 'flash crash'
#2-there is no REAL liquidity on stocks for last few years. it's all fake
#3 all those bots,who suppose to provide 'fair and orderly market' ain't doing s**t. and all that posted 'liquidity' will disappear,when you trying to hit it.
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timtrader
Registered: Feb 2010
Posts: 9 |
06-02-12 04:33 AM
"PILOT PROGRAM: The Securities and Exchange Commission approved the changes, which were requested by the U.S. stock exchanges. They will take effect in a one-year pilot program, to start by Feb. 4."
So, the SEC approved the changes....we all know they're idiots, so no surprise there. However, I'm a bit surprised that the changes were "really" requested by the U.S. stock exchanges. All I see this doing is to cause stepping away and less liquidity when there should be a big momentum move.
Such as big news item comes out mid-day....market makers know it should fly significantly higher than 5%.....they offer 100 shares 5% above the 5-minute range and step away (no liquidity)....then 1 minute later another 5% higher, etc. (Or something like this)
I don't see this helping anyone....just hurting the markets which shouldn't be messed with.
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