The conditions under which the NYSE will suspend or shut down trading

Numbers are valid for first quarter 2008
http://www.nyse.com/press/circuit_breakers.html

In the event of a 1350-POINT decline in the DJIA (10 percent):
Before 2 p.m. 1-HOUR HALT
2-2:30 p.m. 30-MIN. HALT
After 2:30 p.m. NO HALT

In the event of a 2700-POINT decline in the DJIA (20 percent):
Before 1 p.m. 2-HOUR HALT
1-2 p.m. 1-HOUR HALT
After 2 p.m. MARKET CLOSES

In the event of a 4000-POINT decline in the DJIA (30 percent), regardless of the time, MARKET CLOSES for the day.

This information may come in handy tomorrow.

I think we'd all better fasten our seat belts for the ride.

Someone suggested superglueing oneself to the floorboards!

Not just tuesday.

Think about it this way. 1st hour, drops 1350, halts for a hour, drops again for 1350, halts for 2 hours, then drops another 2700, etc. etc. etc.

<snip>
The Wall Street Crash of 1929, also known as the Crash of ’29, was - taking into consideration the full scope and longevity of its fallout - the most devastating stock market crash in American history.

Three catchphrases, “Black Thursday”, Black Monday, and “Black Tuesday,” evoke this collapse of stock values. All three are authentic, for the crash was no one-day affair.

The initial crash occurred on Black Thursday (October 24, 1929), but it was the catastrophic downturn of Black Monday and Tuesday (October 29, 1929) that precipitated widespread panic and the onset of unprecedented and long-lasting consequences for the United States.

The collapse continued for a month. Economists and historians disagree as to what role the crash played in subsequent economic, social, and political events. Some consider it to be the beginning of the Great Depression, but most believe it was just one symptom.

<MORE>

http://en.wikipedia.org/wiki/Wall_Street_Crash_of_1929

we want. I thought the market corrects itself. Guess not. ;)

I thought the New York Stock Exchange was the last bastion of pure capitalism, the embodiment of the free market. How does that work? Stop trading? Just because a couple of the big boys are taking a little bath? They can afford it. Or is losing money just for the little guys? It's like the casino closing down a table just because they're getting whomped?

put in after the 1987 "downturn"

Middle America will continue to ride waves, while the people in the "know" will pull their money out.

Same stuff as usual.

3 to 5 to 7 percent - huge margins - strictly on anticipation of what will happen on Wall Street tomorrow.

Maybe it's not the same day as usual, eh?

in the 5% to 10% range. Interesting to see if US ends up being the follower here, instead of leader as it traditionally has been--that would mean falling around 7% (about 800 points for the DOW) and then flattening out somewhat.

I agree the US economy no longer has the appeal it once had as a 'world leader'. Still, with the dollar cheap, low stock prices represent a chance for China, SA, etc., who are holding tons of US dollars, a chance to buy up US assets at doubly cheap prices (low stock prices in cheap US dollars). So my guess is no massive fall in US prices. Yet. As long as we're guessing.

However, if banks keep turning up more losses and need to cover by liquidating falling equity positions . . . this could continue unwinding for years. Like Japan has?

instead of a giant Ponzi scheme with brokers yelling at each other and people clapping at the closing bell even on days when the market fell in value.

things ain't what they used to be. the '29 crash was disastrous because ordinary people invested borrowed money that they couldn't afford to lose. so much money these days is in 401k's, iow, long term. a lot of that money is now hedged with options. (they will have a hell of a day tomorrow. volume has been crazy for quite a while.) so much is computerized trading now, that the puke point kinda doesn't matter. there will be plenty of people out there buying. unlike '29.
not to say there wont be any blood. it looks like there will. not likely to be the proverbial straw, tho the bale seem to be pretty tall.

and I prolly know not from which I speak, but I said exactly that tonite. Like watch some buying up going down. Who knows. Our 401k is being affected. Bummer.
P_P

While the big boys pull THEIR money out.

a lot of the big boys will be out there buying right after the flames die down. and the 401k's are big boys. fidelity? got more money than they can park.
i know a lot of people are gonna get hurt, but this is long, long over due.