was open when the false Hawaii ballistic missile threat took place?? What could happen in 15 minutes+?? omg
Definitely buy the dip in these weird black swan events that have no fundamental or logical or technical reason for dropping. But also don't be too hasty and assuming as well, I'd wait for a minimum of 15 minutes for a gently, smooth, obvious reversal. More importantly, stop salivating for these kinds of things -- but rather have a normal, steady, tame trading routine you like to pull off and prefer to do regularly. Patience, and calmness, is a true virtue and rare commodity for a trader....~!`High-Five`!~ .,High-Five][
May 2010, but faster both ways. Probably blow up a lot of accounts getting caught short when the algos cross the market north 50 handles in a nanosecond on the denial.
Nah it would have been buy the dip...the biggest dip buying opportunity since 2009!! It would have been a quick 0.77% dip...the buyers would have come in instantaneously and drove the market into the green by the close..... Wait wait wait who are we Fu©king kidding!!!! The scenerio would have unfolded like this…...... Markets up a half percent at 11:29am Missle threat announced at 11:32am Markets immediately close due to threat by 11:34am Announcements made on all major networks about the threat, cnbc goes into alert and breaking news mode as usual...now remember markets are closed at this point....by 11:52am all networks announce threat of missle attack was false, 11:54am markets resume trading and markets skyrocket 2% within minutes as everyone is fully relieved!!!! Remember nothing is a risk to this market.... absolutely nothing.... remember ZERO RISK ALL THE TIME
There's an old joke about this that used to circulate the trading floor. You buy. If the report is wrong the market rallies. If the report is correct - who cares
It;s not a matter of what a market "does" on a report, but a matter of what happens with liquidity. I am ever mindful of the fact that on the morning of Oct 20, 1987, as the market was about to open, 18 of the 30 Dow stocks had NO BID. In other words, they were worth $0. Liquidity is just a theory until it is tested.
I think most people will underestimate panic. There is no way that the markets will close within 2 minutes just because the exchange feels like it. The only reason for it to halt at that point would be the circuit breaker hitting. It would start dropping and maybe a small bounce back around 2-3% but very quickly we'd hit the price limit down and likely heavy sell orders will mean it might stay there in auction for quite some time. At that point a lot of retail traders are likely to be vomiting. Only when reports would come in that debunks it would mean the market very swiftly jumps back up and likely hits price limit up. A quick 0.77% dip... more like 5x or 10x that. That message was from a credible source... it's not like it was announced over instagram.
As long as your timeframe is long enough. Every Dow Jones Industrial Average Price ever visited has been visited an odd number of times.