Hurricane Sandy closes US stock markets through Tuesday

The US stock and options markets will remain closed through Tuesday, as the Eastern Seaboard braced for what could be colossal impact from the much-anticipated Hurricane Sandy.

Markets are due to reopen on Wednesday if the storm clears, CNBC reported, noting the last time the markets were closed for two straight days due to weather concerns was in 1888.

The markets last closed due to extreme weather in 1985, when Hurricane Gloria hit the US, Barron's reported.

The decision to keep the markets closed comes after the storm forced tens of thousands of Wall Street employees to remain at home due to the city's mass transit shutdown, CNBC reported.

According to CNBC, Goldman Sachs, Citigroup and other global banks have activated their September 11 "emergency plans" to put some traders in hotels near their offices during the shutdown.

Anyway, stats and news aside, I am still on the sideline and having a break. I will not be back till later in the week, so thanks for your emails and patience. These are the one of the things we have no control over, and my thoughts and prayers are with those in the affected areas.

Thankyou.

Chip :=)



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Damn! Hurricane Sandy Comparison

Stock markets are closed Monday as Hurricane Sandy hobbles New York. I have just decided to take this opportunity to have a few days rest from the markets. I will be back trading mid week though. Thoughts and prayers are with those in the path of Sandy.

My friend in the U.S. Sent me this photo today, and shows just how large this Frankenstorm is compared to Hurricane Irene back in 2011.

It really puts things into perspective. WHOA! It's ONE BIG MONSTER!!! That is for sure!

WOW!







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hurricane sandy - hurricane sandy will be bad

hurricane sandy warning

A little bit off topic today, but I was watching the weather channel at 2am today, and they are reporting about hurricane sandy and not more than 5 minutes after I had a friend send me an email, saying that his friends down in NEW YORK have a weather tracking station and software tracking devices, and told him to get the hell out. They are predicting hurricane sandy to be much more nasty than other people and the news out there are saying.

hurricane sandy

I think For the east coast, the hurricane is going to be very, very serious, lots of wind, power outages and flooding but people will be unprepared for hurricane sandy, so please stay alert and take the nessesary precautionary measures. I know it is on the news but people will not be prepared.

So if you are living in the direct path of hurricane sandy, please be careful  I have many trader friends, who read this blog and they have bugged out and left the area. Please be safe!!!  Maybe alot of places will flood that have not been mentioned as there has already been deaths and much damage in the island and cuba region.

hurricane sandy path

They are saying Massachusetts will start to feel hurricane Sandy 's fury; and the governor has declared a state of emergency, but please if you are in the area, stay safe. After causing heavy damage and at least 58 deaths in the Caribbean, Hurricane Sandy is expected to make landfall very soon, so please bunker down and use common sense.

hurricane sandy

Forecast For Hurricane Sandy

As a tropical cyclone approaches land, the worst storm surge is almost always where the winds are blowing from ocean to shore, where the wind pushes the water toward and onto the shore. In the case of Sandy's potential track, this region is on the north side of the center. In this morning's GFS scenario, Sandy's center passes over eastern Long Island, Connecticut, and Rhode Island. 

This would result in the highest surge north of New York City: Rhode Island, Massachusetts, New Hampshire, and possibly Maine. The ECMWF forecast from this morning is a bit further to the south. It's suggesting Hurricane Sandy 's center will meet land in New Jersey. This scenario opens up New York City, Long Island, Connecticut, Rhode Island, and southern coastal Mass. to the largest surge. In general, the places that will avoid the largest storm surge are those that are south of where the center of the storm makes landfall. The National Hurricane Center's forecast is similar to the ECMWF, but most importantly, its forecast is also to not focus on the exact point of landfall because of the size of the storm, and that widespread impact is expected.

Please be safe.