Scary virus outbreak in China
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The “circuit breaker” trading halts were introduced following the 20.5% (S&P 500) market drop on Black Monday in October 1987.
- Applies to individual stocks, or the market as a whole.
- Tier I is triggered after a 7% drop compared to the previous close. Trading will be halted for fifteen minutes.
- Tier II is triggered after a 13% drop. Trading will be halted for fifteen minutes.
- Tier III is triggered after a 20% drop. Trading will be halted for the remainder of the day.
Multiple individual stock halts occurred this morning. The SEC maintains a list of trading halts HEREAlea jacta est! -
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“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson -
The “circuit breaker” trading halts were introduced following the 20.5% (S&P 500) market drop on Black Monday in October 1987.
- Applies to individual stocks, or the market as a whole.
- Tier I is triggered after a 7% drop compared to the previous close. Trading will be halted for fifteen minutes.
- Tier II is triggered after a 13% drop. Trading will be halted for fifteen minutes.
- Tier III is triggered after a 20% drop. Trading will be halted for the remainder of the day.
Multiple individual stock halts occurred this morning. The SEC maintains a list of trading halts HERE
According to the wikipedia article I posted the link for, it didn't trigger then:
"Instances of use
On October 27, 1997, under different trading curb rules then in effect, trading at the New York Stock Exchange was halted early after the Dow Jones Industrial Average declined by 550 points.[6][7] This is the only time US stock markets have closed early due to trading curbs. Since then, circuit breakers have evolved from a Dow Jones Industrial Average points-based system into a percentage change system that tracks the S&P 500.
Then SEC Chairman Arthur Levitt Jr. believes this instance of use was unnecessary,[8] and that market price levels had increased so much since circuit breakers were implemented that the point based system triggered a halt for a decline that was not considered a crisis.[9] Some, like Robert R. Glauber, suggested in the aftermath of the circuit breaker tripping that trigger points be increased, and automatically reset by formula on an annual basis.[8]
On March 9, 2020, stocks fell more than 7% (1885 points) on fears of Coronavirus (COVID-19) and oil prices. The market was closed for 15 minutes.[10]"George / NJ
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Yeah, I saw that @Gardenstater, thanks.
There seems to be some confusion because the S&P did drop by more than 7% four times in late 2008, and therefore should have triggered a trading halt. Some business wires report that at least one trading halt did occur in 2008, but Wikipedia states that it didn’t.
The SEC list doesn’t seem to record any market halts in their archives, only those of individual stocks (which have separate thresholds, starting at 10%).Alea jacta est! -
Even if the market crashed, it's still going to come back. The ones that will get hurt are the ones at or near retirement ages who don't have the time to wait for recovery. Wiki is not the most accurate at times.
Saw this story today, and thought how irresponsible adults can be. To go to a dance yet, very important those dances.
https://www.foxnews.com/health/family-missouri-first-coronavirus-patient-broke-self-quarantine
This is why you'll never be able to stop the spread of viruses...stupid people abound.HT SYSTEM-
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Even if the market crashed, it's still going to come back. The ones that will get hurt are the ones at or near retirement ages who don't have the time to wait for recovery. Wiki is not the most accurate at times.
That would be my situation. At 64 this was going to be my retirement year. But with the recent market losses I've made up my mind that I'll now be working one more year. At first I had a tantrum about this but after giving it some thought it could be a lot worse. In my case if this happened say 8-10 years from now it would've been much more costly and I would've been unable to go back to work to get my finances back on track.
I feel bad for those that have retired and have lost a great deal of money already with more losses sure to come.
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Wikipedia states that it didn’t.
Bear in mind that Wikipedia is *not* infallible. It is editable by anyone and has been notoriously abused in the past.
Not saying that they are in this instance, incorrect, just that articles that can be community edited can still hold misinformation.
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"Unwad those panties and have a good time man. We're all here to help each other, no matter how it might appear." DSkip -
I invested all my money with hookers and blow! When Stocks fall people buy more of the products because they feel bad and down. When stocks go up they buy more because they can afford more!!
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According to this article it was Dec 1, 2008.....down 8.9%:
https://www.cnbc.com/2020/02/24/the-nyse-can-halt-trading-amid-stock-selloffs-but-were-far-from-that.html
George / NJ
Polk 7B main speakers, std. mods+ (1979, orig owner)
Martin Logan Dynamo sub w/6ft 14awg Power Cord
Onkyo A-8017 integrated
Logitech Squeezebox Touch Streamer w/EDO applet
iFi nano iDSD DAC
iPurifier3
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Custom Steve Wilson 1m UPOCC Interconnect
iFi Mercury 0.5m OFHC continuous cast copper USB cable
Custom Ribbon Speaker Cables, 5ft long, 4N Copper, 14awg, ultra low inductance
Custom Vibration Isolation Speaker Stands and Sub Platform -
Honestly, not sure that it matters a whole lot, but FWIW:
Alea jacta est! -
That's before they instituted the halt or curb system. That last day on 10/19/1987 was what prompted it.......Black MondayGeorge / NJ
Polk 7B main speakers, std. mods+ (1979, orig owner)
Martin Logan Dynamo sub w/6ft 14awg Power Cord
Onkyo A-8017 integrated
Logitech Squeezebox Touch Streamer w/EDO applet
iFi nano iDSD DAC
iPurifier3
iDefender w/ iPower PS
Custom Steve Wilson 1m UPOCC Interconnect
iFi Mercury 0.5m OFHC continuous cast copper USB cable
Custom Ribbon Speaker Cables, 5ft long, 4N Copper, 14awg, ultra low inductance
Custom Vibration Isolation Speaker Stands and Sub Platform -
Oil prices are even scarier than the virus. The at the same time barrel war between Russia and the Saudis could put a real hurt on the US oil patch.The best way to predict the future is to invent it.
It is imperative that we recognize that an opinion is not a fact. -
motorhead43026 wrote: »Oil prices are even scarier than the virus. The at the same time barrel war between Russia and the Saudis could put a real hurt on the US oil patch.
Yep the Saudis ask the Rooskis to curtail some output to help both. The Rooskis told the Saudis to pound sand. The Saudis opened the taps to bottom out the price.
Not to mention the Saudis have some disdain for the frackers as well two birds one turn of the spicket.
Well that is the way I understood it. -
I'm glad I rebalanced my entire portfolio at the start of the downward spiral... today was nuts.
I am 50% bonds now, I feel about 30% of each market drop.
This can't go on forever, this is painful.
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Just saw on another audio site that Axpona is getting pushed till Aug. We will see if it happens, but not surprised.
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I can’t believe the numbers from China showing the infection rate is going down. That makes no sense. China has millions of people, and many live in cities. Until this virus spreads everywhere the infection rate isn’t going down.Lumin X1 file player, Westminster Labs interconnect cable
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Just saw on another audio site that Axpona is getting pushed till Aug. We will see if it happens, but not surprised.
That'll give Polk time to get the L800's there.
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I went into town today to do my usual grocery shopping. Plenty of TP, PT and water in both stores. I like living in an area where people exhibit common sense.Political Correctness'.........defined
"A doctrine fostered by a delusional, illogical minority and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a t-u-r-d by the clean end."
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They can't put anything on the Internet that isn't true https://youtube.com/watch?v=3DZbSlkFoSU
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Bad information coming out of 🇨🇳? Not possible my friend!I can’t believe the numbers from China showing the infection rate is going down. That makes no sense. China has millions of people, and many live in cities. Until this virus spreads everywhere the infection rate isn’t going down.
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I can’t believe the numbers from China showing the infection rate is going down. That makes no sense. China has millions of people, and many live in cities. Until this virus spreads everywhere the infection rate isn’t going down.
Viruses can die out. SARS for instance.Magico, JL, Emm, ARC Ref 10 line, ARC Ref 10 phono, VPI, Lyra, Boulder, AQ Wel, SRA Scuttle Rack, Bluesound -
AXPONA dates now changed to Aug 7-9 from the scare.Klipsch The Nines, Audioquest Thunderbird Interconnect, Innuos Zen MK3 W4S recovery, Revolution Audio Labs USB & Ethernet, Border Patrol SE-I, Audioquest Niagara 5000 & Thunder, Cullen Crossover II PC's.
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Thankful that the market was at all time highs. Some room to correct.HT Optoma HD25 LV on 80" DIY Screen, Anthem MRX 300 Receiver, Pioneer Elite BDP 51FD Polk CS350LS, Polk SDA1C, Polk FX300, Polk RT55, Dual EBS Adire Shiva 320watt tuned to 17hz, ICs-DIY Twisted Prs, Speaker-Raymond Cable
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I went into town today to do my usual grocery shopping. Plenty of TP, PT and water in both stores. I like living in an area where people exhibit common sense.
Do those really exist? -
The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD
“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson -
Here is a slide from a hospital
Magico, JL, Emm, ARC Ref 10 line, ARC Ref 10 phono, VPI, Lyra, Boulder, AQ Wel, SRA Scuttle Rack, Bluesound -
10x the admit rate of flu
40x the icu admit rate
Even if you don't die... there are many very painful ways of surviving.
And this is in 2 months.
I hope they are wrong.
Otherwise, we are in for a shocker.
Magico, JL, Emm, ARC Ref 10 line, ARC Ref 10 phono, VPI, Lyra, Boulder, AQ Wel, SRA Scuttle Rack, Bluesound -
So where do the Flu patients go?
The same place the new virus patients are going to go?
That's like 2 high tides at once huh?Most people just listen to music and watch movies. I EXPERIENCE them. -
So where do the Flu patients go?
The same place the new virus patients are going to go?
That's like 2 high tides at once huh?
Great... I didn't even think about that.
Magico, JL, Emm, ARC Ref 10 line, ARC Ref 10 phono, VPI, Lyra, Boulder, AQ Wel, SRA Scuttle Rack, Bluesound -
10x the admit rate of flu
40x the icu admit rate
Even if you don't die... there are many very painful ways of surviving.
And this is in 2 months.
I hope they are wrong.
Otherwise, we are in for a shocker.
I have zero doubt they are wrong...The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD
“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson
This discussion has been closed.