Discussion in 'Trading' started by Dogfish, May 10, 2010.
any old timers here remember what happens when the mkt limits up? Does it continue to rally reopen, or sell of? From a quick count, theres only about 6 occurences of the mkt closing >5%, and they're all from the 2000 and 2008 rebounds
last one I saw in 08 went about 20,000 bid and popped about 50 tic on the reopen but then the European stock futures had carried on rallying the whole time it was limit so made sense. Doesn't feel that strong now with European stocks running out of steam at present. All depends on the spread to markets still trading
How do you know what the limit up is on any given day?
+5% from prev close
Would be nice to go short today but it's not worth it, since this news came out last night the futures have slowly trended higher, I am selling one position I went long on Thursday, will be buying DXD under $25.00 if it gets there though. This market will most likely trend higher right into the close.
It changes every quarter to reflect about 5%. Now, limit up and down for ETH is 55 points on ES and SP
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