Rule 48 invoked before the US markets open...

This is quite big...

Sho nuff here's rule 48

What is rule 48...
Rule 48

(a) In the event that extremely high market volatility is likely to have a Floor-wide impact on the ability of [Designated Market Makers] to arrange for the fair and orderly opening, reopening following a market-wide halt of trading at the Exchange, or closing of trading at the Exchange and that absent relief, the operation of the Exchange is likely to be impaired, a qualified Exchange officer may declare an extreme market volatility condition with respect to trading on or through the facilities of the Exchange.

(b) In the event that an extreme market volatility condition is declared with respect to trading on or through the facilities of the Exchange, a qualified Exchange officer shall be empowered to temporarily suspend at the opening of trading or reopening of trading following a market-wide trading halt: (i) the need for prior Floor Official or prior NYSE Floor operations approval to open or reopen a security at the Exchange (Rules 123D(1) and 79A.30); and/or (ii) applicable requirements to make pre-opening indications in a security (Rules 15 and 123D(1)).

More market manipulation by these bastards. Basically suspend the markets at the opening so the big guys can do whatever they want to manipulate the markets.

Anyway this is gonna be fun to watch... we could see another -600+...

reply to post by Vitchilo


Explanation: S&F!

Personal Disclosure: Volatility??? Sounds like a free market economy at work to me... Oh hang on minute ... never mind!

So, what is the event that is taking place, or about to take place that would force them to invoke this rule? I am watching the futures, and I am not seeing anything way out of the ordinary. Is there something going on behind the scenes that the public is not aware of yet?

If there really was an open and free for all market, you would be so volatile, the market would be pointless.

People also are using the market for the wrong reasons, it was setup for companies to raise funding, it is now used, to make money for traders, not for companies to get funding.

Just the same with Patents, it is no longer used to protect the patent holder.

reply to post by SpaDe_


Well they are doing this because of the instability and the volatility being too high apparently... which is ridiculous.

Free market my butt.

Alien disclosure?
lol.
We gotta wait and see. Somethign is up.

If the crash is inevitable, let's get on with it already.

Where is my popcorn?

I'm on the East Coast, watching MSM and the markets are set to open in 5 minutes. No word on any shut down, maybe another sell off, a second recession. But markets will be trading soon. Let's see in a few minutes if they don't "ring the bell". True the market is going down today. Globally as well...but who knows what will happen from moment to moment.
Peace Ya'll...

if they shut the markets down before the open, and the futures are only showing a 2% drop, that means the actual drop is much greater and the futures aren't reflecting the real numbers. This also means that, once they open, the markets will, most likely, drop even further.

Today could be brutal.


Edited:

looks like they're open., Dow down 2.37% at the open.

Well this is a good start...

Dow -281 -2.46%
Nasdaq -82 -3.26%
S&P 500 -32 -2.71%
GlobalDow -60 -3.15%

So buy some Puts and short some stock.

Seems to be open to me . . .

DOW

Trading has been suspended. What you are seeing is the overnight trades catching up.

Originally posted by GoalPoster
Seems to be open to me . . .

DOW

Well maybe I misunderstood Rule 48... or there wasn't enough volatility... or it will be used later today?

Dow
/quotes/zigman/627449/delayed 11,097 -314 -2.75%
Nasdaq
/quotes/zigman/123127 2,419 -93 -3.69%
S&P 500
/quotes/zigman/3870025 1,156 -38 -3.15%
GlobalDow
/quotes/zigman/629063 1,832 -64 -3.39%

FTSE 100
/quotes/zigman/3173262 5,132 -200 -3.75%
CAC 40
/quotes/zigman/3173214 3,125 -129 -3.98%
DAX
/quotes/zigman/2380246 5,657 -292 -4.90%
FTSE MIB
/quotes/zigman/1482176 15,180 -770 -4.83%
IBEX 35 IDX
/quotes/zigman/2759618 8,361 -367 -4.21%

It's going down faster than Titanic
May break 11000 this morning

Dow Jones Industrial Average
Index Value: 11,068.46
Trade Time: 9:44AM EDT
Change: Down 341.75 (3.00%)
Prev Close: 11,410.21
Open: 11,406.27
Day's Range: 11,067.02 - 11,406.50

It's going down because of heavy short interest and puts (options for shorting basically).

That basciaally is TRADING, in large hedge funds, MANIPULATION.

It's going to go down even more when the housing numbers are released.

And GLOBEX is down... mwahahaha.
And.... GLOBEX Down

All normal...

reply to post by Vitchilo


For the apparently "real story":
NYSE Invokes Rule 48 Chicago tribune

Also lest we forget, they have Circuit Breakers in their bag of tricks.

Originally posted by SpaDe_
So, what is the event that is taking place, or about to take place that would force them to invoke this rule? I am watching the futures, and I am not seeing anything way out of the ordinary.

Is there something going on behind the scenes that the public is not aware of yet?

Chavez pulled 99tons of gold from the JP Morgan vaults in England.

Cant make a second line since its covered in the first.

Yes, Chavez decision is crashing the markets.