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>
>>People should expect the unexpected, and protect themselves
>accordingly. If the shorts had some >kind of protective stops on the
>books they could have survived.
>
>Protective stops aren't going to do you much good with moves like that.
>If no one wants to sell to you, stops mean didly. I had closed out my
>shorts a few minutes before, and left the screen, so I don't know if
>anyone made the market on the way up, but it sure would have been a dumb
>short.
>
Hey guys, isn't the exchange obliged as a condition of doing business to
make a market, regardless of whether or not they feel like it?
I was looking at a tick chart. Looks pretty orderly to me, the move took 4
full minutes. Plenty of time for buy stop orders to be executed. The ones
who had problems were the market makers, who were obliged to take the other
side of the trades.
Did anybody actually have a buy stop in there, and was/wasn't it executed
in a reasonable fashion? I'd sure like to know if reality is significantly
different than I think it is!
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