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Don, the clock did not start at the low of 1158 because there was no offer
there. This is based on the big contract in the auction market, not what you
see in the eMini, if that is what you are watching. The bid in the pit is
what someone is willing to pay for the contract. The trade was from someone
who agreed to sell for that price. That is different from someone offering
to sell at a price.
Whoever bought that 1158 contract was looking to sell higher, that's the
offer.
I have IM up if you want to chat direct. Handle is wl7bdn.
Michael
wl7bdn@xxxxxxxxxxxxx
----- Original Message -----
From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, March 29, 2001 17:17
Subject: Re: [RT] SP Limit
> Better said at limit are not all trades bid and ask at the same price? If
we
> traded 1158 which we did (and on 22nd at its limit early on) and no 10min
> clocked started, how do we know? I have been burned since short coming
into
> it the second time only to see it lock again?
> don ewers
> ----- Original Message -----
> From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, March 29, 2001 4:58 PM
> Subject: Re: [RT] SP Limit
>
>
> > 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
> > >
> > >
> > >
> > > To unsubscribe from this group, send an email to:
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> > >
> > >
> > >
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> > >
> > >
> >
> >
> >
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> >
> >
> >
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http://docs.yahoo.com/info/terms/
> >
> >
>
>
>
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>
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