At that moment all bids/asks on Level 2 were invalid. They were far from the time&sales prints. I went by the prints... which fluctuated between 204.xx and 202.xx, up and down by a dollar in every tick. I entered my limit-price orders just to see what happens. I remember a day like this once: 9/18/2008 Goldman Sache, GS, went from $115 down to $85 in the morning, then bounced back to $120 in the afternoon.
This is good to know. I opened time&sales a couple times in the past but really couldn't decipher much out of it. But Thursday all my bid/ask levels were locked and so time&sales would've been very helpful. Thanks for that! And as I recall everything was hugely gapped up the next morning, squoze the sh*t out of the shorts on the open and commenced to sell off like no one's business. Some of the guys in the ET's chat room made a killing shorting that open. Balls of steel to trade those moves IMHO
ND: I traded that morning, and the whole day, and made out pretty well. No my balls are not of steel the last time I checked. I happened to be vacationing in Seaside, Oregon. When the Dow crashed 500 points+ that Monday, I happened to have closed up shop early and went to learn about Lewis and Clark at Fort Clatsop. But the next 4 days I traded on the bed in the hotel room for the entire session and wouldn't miss this greatest opportunity. Playing long and short as situations warranted. That was a phenomenal week. When the week was over, I treated to myself and my wife to many fine seafood dinners driving back to California.