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Michael,
Nice talking to you. Now I understand. Unfortunately there is no way for
someone without LOS (or similar) or access to the floor to find out if on
the big SP there was a bid below limit and an offer at limit and a trade
that would start the 10min clock as opposed to just a trade there by a local
hoping to sell higher. Anyone else know how to check this out when it
happens (CME ph # perhaps to someone who would know)?
don ewers
----- Original Message -----
From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, March 29, 2001 5:32 PM
Subject: Re: [RT] SP Limit
> Yes, on IM there are several. Is that AOL, Yahoo ( I am on that). Or email
> me direct Ph. # and I will call. Need a good answer since "I gave some
> profits up" not knowing.
> don ewers
> dbewers@xxxxxxxxxxxxx
>
> ----- 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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> > > > >
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