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| General Discussion Need to take a break? Talk politics, business, entertainment, etc... Anything goes! |
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01-22-2008, 02:30 AM
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Were the limits just hit?
I have no idea where to put this thread?
But I have a flat green line on my chart, what does this mean? Were the limits already put on?  
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01-22-2008, 03:28 AM
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Re: Were the limits just hit?
Overnight hours in ES, limit is 70 points up (yeah right) or down.
Just reading this from CME website as I type... http://www.cme.com/trading/prd/equity/pricelimits.html http://www.cme.com/trading/files/Equ...LimitGuide.pdf http://www.cme.com/trading/files/PriceLimitFAQ.pdf
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01-22-2008, 03:29 AM
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Re: Were the limits just hit?
Overnight limit is 5% - RTH first limit is 10%
The % is calculated at the start of each quarter, hence a hard point limit of 70 points (overnight mkt) which is slightly more than 5% at current prices ... The limits during RTH, in case we need them today :-) are 140 points (the 10% limit) 280 points (20%) 420 points (30%) Last edited by mister ed; 01-22-2008 at 04:07 AM.
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01-22-2008, 04:03 AM
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Re: Were the limits just hit?
OK - back higher - there was actually a lot of volume went through at that limit price. It is overnight so volumes are not huge but this was relatively large - looks to be about 16,000 contracts (give or take) went through at the limit.
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01-22-2008, 04:15 AM
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Re: Were the limits just hit?
I've never seen that before. I remember watching the ES and ER2 in july 2004 or 2005 when the London metro was attacked and the overnight didn't stop trading. Not sure about this one.
__________________
"It's against human nature to succeed in the markets"-- Newbie Trader Lounge
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01-22-2008, 12:19 PM
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Re: Were the limits just hit?
Put that in your trading scrapbook James b/c not sure how often you will see that.
 Gotta love the free market that will stop a down move. Not sure we'll see an up move ever stopped.... wonder why... That's why shorting can get a bad rap in the regular media - they see this happen and then there's stories of shorts getting stuck and plowed over by the longs. It's just part of the game and something you rarely see.
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01-22-2008, 12:22 PM
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Re: Were the limits just hit?
I see this happen very often in commodities, but index futures, first time and learning.
__________________
"It's against human nature to succeed in the markets"-- Newbie Trader Lounge
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01-22-2008, 05:16 PM
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Re: Were the limits just hit?
Those links to the CME info on index futures limits are pretty useful, quite good information in there and, unusually from the CME, easily understandable.
The overnight limits are 5% down OR UP. This is compared to the limits that apply during RTH, these are only applicable on the downside - no upside limits during RTH.
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LinkBack to this Thread: http://www.traderslaboratory.com/forums/f18/were-the-limits-just-hit-3274.html
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