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At 10:54 there was no offer at 8 even, so the clock did not start. At 13 :22
there were limit offers, so the 10 minute clock started ticking. There was
no shut down because it was bid up from 8 even during the 10 minute period.
Then the limit was reset to 35 pts below, and price was free to go.
Michael
wl7bdn@xxxxxxxxxxxxx
----- Original Message -----
From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
To: "Real Traders" <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, March 29, 2001 16:50
Subject: [RT] SP Limit
> Yesterday the SP traded at limit at 10:54 CST then moved off and came back
> to it at 13:22 CST where it appeared to lock move off, lock for the
10minute
> time frame roughly then moved off and was allowed to go below at 14:04
CST.
>
> They did not cancel out the 1158.00 low tick yesterday at 10:54 (I
checked).
> This means that they must have instituted a time frame into the
calculation
> for the ten
> minute rule??
>
> I believe the same thing happened on the 22nd.
>
> In the past I thought the 10min. rule started when limit was first reached
> and prices could trade at but not below for 10min. If still locked after
> 10min. (not the case in either of the above) a 2min halt is imposed.
>
> Any ideas anyone what the rules are now. My copy of the old rules says
> something may have changed?
> don ewers
>
>
>
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