JGPM if the Dow "tanks a couple of thousand tonight", it may very well run out of time for a "rally".
For the first quarter, circuit breakers will kick in if there is a drop of 945 points, or 10 percent, in the Dow Jones industrial average.
There will be a one-hour halt in trading if the Dow drops by 945 points prior to 2 p.m., a 30-minute halt if the decline occurs between 2 p.m. and 2.30 p.m., and no halt after 2.30 p.m.
If the Dow drops 1,890 points or 20 percent, there will be a two-hour halt if it happens before 1 p.m., a one-hour halt if the slide occurs between 1 p.m. and 2 p.m. and the market will halt for the rest of the day if the slide happens after 2 p.m.
A plunge of 2,835 points or 30 percent - no matter what time it occurs - would result in the market being closed for the day. Bear in mind that the previous trigger was significantly higher at 4,050 points.
Anyone for a game of lawn bowls?
UMC Price at posting:
88.5¢ Sentiment: Buy Disclosure: Held