|
PureBytes Links
Trading Reference Links
|
NW: Ira, The Maxi contract at the CBOT stayed opened during the panic and
the low. The low
on the front month was 291.00. Given the average ratio of the DJIA to the
Maxi (futures on the Major Market Index or XMI) of 5.08, this implies that
had the NYSE stayed open, the DJIA would have
made its low print at approx. 1478.28.. Watch for 8 x 1478.28 = 11,826.24
to see if that is an important level. 7 x should now be support at
10,347.96.
Ah, memories...I was in the Maxi pit at that time and I and several others
sold that low....Our frantic scramble to cover the 100 lot we had stepped
into drove the market up some 90 points equivalent! So I guess ya'll can
thank us for bottoming the market out as, as stated, nothing else was open
at the time, but when they reopened, the panic was over. There went a nice
car out the window in those few seconds. Oh well.....
Michael
|