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I follow big SP, (I know the ES only went to 1158.25 I believe). I assume
others know that globex2 will not accept orders under limit until it trades
below limit.
don ewers
----- Original Message -----
From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, March 29, 2001 5:23 PM
Subject: Re: [RT] SP Limit
> 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
> > > >
> > > >
> > > >
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