ES and ER@ are limit down

I am with IB and Ticker for INDU shows -9.18% -1074

 

poor and rich folks on the street today

 

for record

 

IF the YM is in limit Dow what can happen
Can it open 100 points down or 100 points up
And when will it open

 

does this mean that at 8:30 am EST the overnight limits are removed and markets start trading again?

 

It could gap down another 5%

 

or up 10%. Depending on which way it opens.

 

No it can not

 

in 1980 i think silver had something like 20 consecutive limit down sessions. but that's silver

 

Here's a true story of how gutsy some of the floor traders at the Board can be at times.

Bill, who works our soybean orders, told me about one summer day when the soybean market was down the limit. It wasn't just down the limit; it was "locked down the limit," with five million bushels offered to sell down the limit and no buyers in sight. It was very quiet. Then, out of nowhere, one large "local" wanders into the pit and utters, "Take 'em.'' "How many?" they ask. "All of 'em!'"

The other brokers in the pit literally fell over themselves selling the entire five million to this guy. What could he be thinking? But then, as soon as the five million were bought, and the quote machines around the world tuned into soybeans showed this, the telephones around the pit started to ring. Off the floor, traders around the world assumed with such a big buyer at limit down that something was up, and they started to buy, too. The market immediately started to rally. When it moved 5¢ per bushel off the limit-down price, the large local stepped back in and sold his five million bushels. It was a quick $250,000 profit, and it took only 20 seconds!

Think of bill as ben tommorrow.