Originally posted by iggster
reply to post by TH3ON3
I believe our suspend point is 10%. So tomorrow 10% would equal a 857 point drop. I believe from what I have read. I do not trade in the stock market
so if anyone could verify my info it would be appreciated!
To my understanding.. it does not ONLY have to do with point basis.. that is to say, 10%, 15% and etc..
But more to do with volume? .. Someone can correct me, but I am fairly certain that Volume+% = close..
Increased Volume on trading means a larger number of trades are going through the system .. a single trade can bring the market down a little if it's
big enough .. basically a fund pulling out of a stock.. but volume means a "run" .. as in thousands of people at the same time are trying to sell a
stock with no buyer.
To my understanding on the 1929 Great Depression .. the Market had several nasty days leading up to the crash, and then several months until it "hit
However, the biggest indicator that caused the crash was higher-then-normal trading.. again someone can correct me if I am wrong.. but the number of
people selling at one time led to the collapse, granted big holders sold all they had as well, the tickers (old machines that printed the trades)
ticked on for hours after the close..
If the DOW off the bat drops 10% in the first hours, I could see a close.. of course, I would only assume higher then normal volume as well.
This was the case with Russia.
A "Collapse" is 80+% of the stock wiped out in single day or short time frame, say, a week ..
A Market Crash is 20%+ in one single trading day..
I believe that would be around 1,500ish or so.
If the DOW futures hold stead fast.. the market will open at that level (currently -288 .. get to that in a bit) and then continue it's collapse..
then I buy a bottle of whiskey on my way home.. sell what I have left in the markets.. and curse the unforgiving Gods that Relentless was right..
-DJIA INDEX 8,339.00(current level) -259.00 (current ratio from open) 8,614.00 (current open) 8,663.00 (current high) 8,282.00 (current low) 22:47
(time of last Futures Contracts update)
() where mine, just to clarify the numbers.
-259 is NOT the worst it has been .. it has dropped to 8,282 .. it's flirting with the 7,999 level.. down roughly around 2.7%
This is all in a time frame of 7 days ..
Relentless.. I work for one of "those banks" in the top 4 .. I think .. I made the wrong choice in accepting this job offer. lol..
Cheers to you all, I am taking my last beer for the night and hope to see some better numbers come morning..