Well, 2020 was peanuts compared to the days that followed Lehman's collapse in 2008. It's like night and day. Turns out, NYSE tripped on December 1, 2008 as well.
I wonder if it was a blessing in disguise, because CL was my trading du jour back before the nightmare. Memories!
Speaking of halts I think HOLO was halted about 10 times IN ONE DAY last week. Talk about volatility,yikes.Never a dull moment in the world of stock trading. Wouldn't be surprised if it goes nuts again when the market opens on tuesday.
They need to eliminate breakers.......have you noticed everything is in place for sell offs and market drops of just a few percentage points..breakers. emergency fed meetings. QE, TARP, 0% rates for 20 plus yrs. Backstopping, stock buy Backs to inflate earnings, the federal reserve. Bank bailouts, over 4 trillion In assistance during covid, more bank bailouts in 2023 etc etc....the list keeps going going and going..... These markets aren't real, they never will be since there is always something involved in keeping the propped up. If markets need to fall let them fall, breakers should be totally eliminated from wallstreet, if stocks sell off let them find a bottom without manipulation on their own. I can just imagine what the next collapse is going to look like and how they will Backstop the next one. They always have a magic trick to reverse any downturn!
We hit the breaker in 2016 when trump was elected. Futures were stuck at -5 (until they recovered throughout the morning) I believe we hit a breaker in late 2015/early 2016 as well. I remember talking to my business analyst about it.
I was in the .com bubble, LTCM, 08, flash crash and COVID. What I saw in 08 was the scariest of all. It was uncharted territory. Oh and 911 I was actually studying for my 55 that day
I like to see the breakers stay...Just me. I would like them to change everything to the 15 minute rule...It shouldn't matter on the size of the drop. My thoughts...You need the human element (brain) to absorb the market for a few minutes. No, don't go hog wild on time...But to say "I see value in this equity at this price". Allow all the market (mutual funds, international money, pension funds, dark pools, retail investors) to look at their programs and see if they want to make a modification to their trades. Then let the action proceed...
I like panics, crashes, mayhem, breakers, etc. This is where the most opportunity is. With all the algo/quants these days & years of complacency the next dive could be really breath taking.