Anyone know if they are breaking those Silver trades

Discussion in 'Metal Futures' started by stock777, Dec 12, 2005.

  1. down to 8
     
  2. No reason to break anything - this is a market correction - that's the way it goes in the silver pits...
     
  3. I beg to differ. The big contract never got below 8.70 , the mini trades at 8.

    There must be some rule in place.
     
  4. I see what you're saying - sorry, I trade the pit contract. But my experience with the electronics (which is why I don't trade it) is that they will fluctuate with wide variances from the pit when things move like they did this afternoon. Stops get run over in the electronic with no control. That actually is the argument the pits use to justify their existence. The only protection you can attempt to use are Stop Limit orders, but you risk not being filled in a meltdown. I see you've been around awhile so you probably already know all this.
     
  5. You'd think all electronic exchanges would have an anti-cascading algorithm they way the CME has. Crazy to be running an exchange while naked to that kind of event.
     
  6. I was not involved, but did notice the sharp tank to 8. I am assuming those did get busted, but wanted verification.

    Anyone?
     
  7. No all trades will stand :)
     
  8. If thats true......

    damn.
     
  9. Some fool sold a Jan Nikkei futures during the Mizuho downdraft at 1000 points below the cash print. Thankfully for him it was only a one lot.
     
    #10     Dec 12, 2005