After the 1987 crash, the markets adopted "trading curbs" for computer trading. Without them, the computer programs would potentially take over.
Well, guess what HP'ers?
The NYSE, for whatever reason, has just eliminated trading curbs on computer trading.
Yes, you heard that right. For no good reason, and with no fanfare, the NYSE has just eliminate these trading curbs. Anyone get the feeling that the insiders are setting this market up for something, well, might they say "interesting"?
Invest accordingly. You're on your own. And the fuse has been lit.
NYSE Eliminates Trading Curbs Dating Back to 1987 (Update1)
The New York Stock Exchange said it will no longer impose curbs on computer-program trading that were put in place after the crash of 1987, claiming they're no longer as effective in damping swings in prices.
The exchange will stop prohibiting brokerages from entering some program trades when the NYSE Composite Index rises or falls more than 2 percent, according to a notice sent to member firms today. The so-called collars had been in effect since 1988 and were triggered 17 times this year, according to a filing with the Securities and Exchange Commission.