Split-Adjusted

Q Please explain “trading curbs.” — H.S., New Orleans A Trading curbs (also known as “circuit breakers” or “collars”) are rules that restrict trading in the stock market in times of extreme volatility. When triggered, they can suspend trading for a specified period of time or halt trading for the rest of the day. The idea is that such breaks will stop or pause whatever trading frenzy or panic is underway, giving investors a chance to assess what’s going on and make decisions in a calmer and more informed fashion. Trading curbs have been refined over time; the most recent rules halt market trading for 15 minutes if the S&P 500 drops more than 7 percent from its previous day’s close — unless this happens at or after 3:25 p.m., in which case the markets will remain open until their regular 4 p.m. closing time. If the S&P 500 falls 20 percent below its previous day’s close, trading is halted for the rest of the day. “Limit up, limit down” breakers, meanwhile, are designed to briefly restrict trading in a particular stock (or exchangetraded fund) within a defined band when triggered. Q Can I track my portfolio online without a brokerage account? — G.A., Rutland, Vermont A Yes. Many sites, such as Yahoo! Finance and AOL.com, offer portfolio tracking, as do many brokerages. You can enter the various stocks and funds you own and the prices at which you bought them — and then click in any time to see the latest value of each holding, as well as of your overall portfolio. You can even create a separate portfolio for stocks on your watch list to help you keep an eye on them.