Commenter MarshallStack points out:
Rule 80B Effective April 15, 1998 the SEC approved amendments to Rule 80B (Trading Halts Due to Extraordinary Market Volatility) which revised the halt provisions and the circuit-breaker levels. The trigger levels for a market-wide trading halt were set at 10%, 20% and 30% of the DJIA, calculated at the beginning of each calendar quarter, using the average closing value of the DJIA for the prior month, thereby establishing specific point values for the quarter. Each trigger value is rounded to the nearest 50 points.The halt for a 10% decline would be one hour if it occurred before 2 p.m., and for 30 minutes if it occurred between 2 and 2:30, but would not halt trading at all after 2:30. The halt for a 20% decline would be two hours if it occurred before 1 p.m., and between 1 p.m. and 2 p.m. for one hour, and close the market for the rest of the day after 2 p.m. If the market declined by 30%, at any time, trading would be halted for the remainder of the day.
Posted by guest , Oct 06, 2008 3:06PM
What are you trying to say, Bess? WHAT ARE YOU TRYING TO SAY?
Posted by guest , Oct 06, 2008 3:06PM
Halt this - we having a rally?
Posted by guest , Oct 06, 2008 3:13PM
And "if" my aunt had balls she'd be my uncle.
Posted by guest , Oct 06, 2008 3:42PM
What ever happened to the Curbs?
Posted by MarshallStack , Oct 06, 2008 3:49PM
that guy sucks 24/7 and long up the whazoo fucking ijit
Posted by DrederickTatum , Oct 06, 2008 3:58PM
4 curbs are gone - They weren't doing anything anyway.
BTW, shutting down trading is the worst thing a market can do. Without a pricing mechanism, owners have no idea what their securities are worth.
That's when real panic starts - They should dump the rules on shutting down markets. Its counter-productive.