NYSE Will Suspend Trading If S&P 500 Drops 7%

Comment from a reader who took advantage of my AMZN report: “Dave: sold 1/2 of my amazon Jan, 16 puts, thx man”

From Bloomberg:   If losses in the U.S. stock market worsen, keep in mind there might be a 15-minute break. The New York Stock Exchange said it will halt trading for 15 minutes if the Standard & Poor’s 500 Index drops 7 percent.

The stock exchange will pause trading if the benchmark for U.S. equities slumps to 1,832.92 before 3:25 p.m. New York time, Sara Rich, a NYSE spokeswoman said in an e-mail. The S&P 500 slid 3.9 percent to 1,894.93 at 9:42 a.m. in New York as markets were convulsed by a surge in selling.

Trading will stop for a second time if the gauge extends its losses to 13 percent before 3:25 p.m. If the plunge reaches 20 percent at any point during today’s session, NYSE will shut the market for the rest of the day.

Let’s see if the NY Fed and the Exchange Stabilization Fund – the Plunge Protection Team – can hold this up and prevent major embarrassment on the world’s stage.   Halting the market will make it worse because every time they re-open, anyone with half a brain cell left will try to sell.

Anyone out there brave enough to buy the dip?  C’mon dip buyers…

9 thoughts on “NYSE Will Suspend Trading If S&P 500 Drops 7%

  1. When gold drops due to market manipulation as we have seen the last time on ths hideous Sunday everything is ok for the financial terrorists and fascists. Not even a proper investigation who caused it. But when the general stock market goes down they pump their funny money into future contracts and cut the cord.

    I stay with gold anyways. Gold is the antidote for the financial fascists.

    1. They know that. But they can make some phone calls and start concerted actions when the markets reopen. They have in-depth experience with that from 2008/9.

      Did you see APPL today. First down, then up. Now as I’m writing +1.93%!!! Know what I’m talking?

      1. Have to hand it to the PPT. A magnificent performance so far today. Have to wonder how much longer that they can keep it up. Anyone who buys the argument that it was ‘bargain hunters’ that saved the day is a moron.

  2. Couldn’t help it… have to post this link ‘5 reasons to stay calm as the stock market quakes’ http://finance.yahoo.com/news/5-ways-to-stay-calm-as-markets-plunge-145416822.html
    This guy probably went full retard marginalized ALL IN this morning. This article is one reason why so many people, including my parents, are going to be cleaned out and probably lose their lives when all the markets really let go. Dave, really makes me appreciate what you and a number of others provide. The corrupt MSM, which is beamed out right on cue, won’t change until there is literally blood in the streets. It is like he is on a different planet, yet something tells me he is due for a Darwin award at some point in his life.

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