I need expert advise. I trade ETF's & futures (separate accounts), typically holding for <i>weeks</i>. My "swing" positions (QLD, QID or NQ) are held to <b>follow trends</b> and aren't closed/opened until the next day's open - after a shift in trend has been determined. Commonly KNOWN are the wide price swings in volatile markets for these positions. <b>What isn't commonly known (at least, by me) is downside protection in the event of a crash.</b> I've downloaded all the CME/NYSE files regarding "circuit breaker" (price limits) rules - as well as recent (since May 6, 2010) SEC approved test trial rules regarding "certain exchange traded funds". <b>Bottom line:</b> I still have murky thinking regarding how much protection (if any) I'd have during key day and overnight session periods. Especially, since at times I am 2.5X levered against the NASDAQ-100. Any help from experts would be appreciated - A. Please describe what happens in ALL events of a price drop that exceeds limits and what define these percent limits. B. How does this affect both open NQ and ETF (QLD & QID) positions at the extreme of 2.5X leverage. Thanks in advance.