You're now on the archive server. Commenting has been disabled.
Advance Look At Tonight's Futures Creep Up
Just because the regular US market is closed doesn't mean the ever vigilant futures traders are not HiFTing the living daylight out of the any and all nanopoint trends they can find. And already the market, in the complete absence (literal, not metaphoric) of any volume, has managed to recoup a major portion of Friday's "sell the JPM and INTC news" losses.
And even as the ECB and other European dignitaries realize just how big a hole they dug themselves into courtesy of the Euro, with Dutch finance minister Wouter Bos saying "they are very much aware that they will in the
end have to solve the situation themselves" the euro simply refuses to go down, which in tried and true momo fashion means the dollar is about to retest the 77 support.
The currencies holding well today are those with non-near term default inducing debt/GDP ratios.
»
- 7740 reads
- Printer-friendly version
- Send to friend
100, 200, even 300 point drops in a day don't phase me anymore. We'll know it is the real deal when we get an 800 in a day drop. That is when we know they are pulling the rug out.
Exactly.
Drip with excitement as soon as i see "limit down".
here ya go.
http://mondovisione.com/index.cfm?section=news&action=detail&id=87725
I'll be convinced by a mere 500+ points with solid selling to the end.
That, my friend, will require an " EVENT ".
comment people....http://www.sec.gov/rules/concept/2010/34-61358.pdf
It ain't gonna happen. Not in a million years. Dow = 18,000, Unemployment = 14%, Deficit = 22 trillion by 2014.
and gold goes to the moon
This just isn't right... even blood sucking financial terrorists deserve a holiday... "oh the humanity," when will this slavery end?
Of course,and expected. But for how long?. That means that the FED would have to backstop the S&P,the TBs market,and all markets for that matter. And to me it looks like a dam with many holes in it. Once one hole breaks the corps run there and fill it with sand,untill it becomes virtually impossible to fill all the holes at the same time and the dam breaks. Scary scenario,but highly probable...
The torture never stops...
This is just another slight correction like the space shuttle Columbia adjusting its glide path for re-entry.
Yep... 1250 within 2 months. Earnings provide clarity, easy beats and slow conservative increases in guidance.
Time is on the side of recovery.
http://urbanlegends.about.com/library/bl-shuttle-explosion.htm
I would call for major resistance at about 1220, and that may be enough to stop this uptrend at the 61 fib.
The Amish pension fund hearts equity futures. Over the last 10 months this vehicle has been a godsend for brother Jobe and I.
Where does it go from here? It was a lot easier to understand it's potential back in early March '09.
Why wouldn't these clowns be buying futures on Sunday night? It has worked for about 40 weeks in a row. Only if we open up a Monday 100 spx pts down will this ever stop.
Silly story. Many years ago I had some guys working for me and they were trading Gold through Chicago.
On a crazy day, a guy in the pits keels over with a heart attack. Someone puts the poor bastard in a chair, but all the market makers keep trading until the Futures close 7 minutes later.
The guy is dead. Everyone feels bad. So the next day there is a minute of silence and no trading in respect. But after the minute was up the price of gold was a few buck higher, and traders recorded deals with prices in between.
Technically this is not possible. I found out later that the guys in the pits were making prices and executing transactions during the minute of silence. They were using hand signals, not voice.
That was 30+ years ago. That guys are trading futures today when no market is open just shows that nothing really has changed.
ummmm futures market has been open for trading since 1800 est on sunday. It's also accessible by the entire globe. The rest of the world doesn't shut down. And as you know the futures market is totally separate market than US equity in NYC. Our market IS open.
It's very hard to stay short overnight when the market is down. I guess we make the best of it and buy the close and sell the open and make money a high percentage of the time!
I'm not quite sure the purpose of this post. es traded well within its short term range which is typical, HFT or not, on US holidays. having traded asia and europe last night and this am, it's move comes as no surprise.
and RE Bruce, there's plenty of market open today today. Just because there is a government holiday doesn't mean i have to stop working.
Why would anyone expect the futures to be anything but up? Been this way for months. You get C reporting before the bell which could derail the futures or make everyone even more giddy and we have an explosive day on Tuesday.
My guess, we get an explosive day to the upside tomorrow.
Zero, you need to grow up. The short vulnerable days are going to be few and far between. The completely obvious reason that the futures are up is because Europe and Canada are rallying. Moreover, it was completely predictable that Friday's downside rally was a group-think to short after INTC's earnings. Since the earnings, revenues, forecast and margins were insanely optimistic there was simply no conviction in the down move and as soon as the traders made a couple points they are ready to move back in, just as those waiting to get into the tech recovery play and record earnings are destine to buy in.
Friday's downside rally
WTF? You've got hopium on the brain.
I think this is a trained market disinformation agent, no one could be that clever by accident...
Everything is a rally!
Of course the futures are higher - you really expected otherwise? Tomorrow could explode to the upside after a dull long weekend with no activity. Only C report before the open could derail it but I think we're in the "buy Friday's dip" mentality regardless tomorrow.
Snoop Dogg put it best, "Equities up, Dollar down!"
Buy Silver.
In today's "Infinite Fiat" world, what do you expect?
With the rest of the world more than willing to finance our unlimited deficits at obscenely low interest rates, there is plenty of borrowing power and a bottomless pit of free money with which to buy ES futures each and every night.
.............................
Somebody needs to tell the sheeple we're scroomed...
Rasputin - Mon, Jan 18, 2010 - 03:07 PM
...because they obviously didn't get the memo.
Here are a few tidbits I have noticed lately which shows that
SOMEBODY doesn't "get it"--either the lambs or us malcontents on this
board:
1. "American Idol" pulled in fifty-million viewers on its season opener.
2. Not only was every single NFL playoff game sold out, but also
Superbowl tickets are being scalped for THOUSANDS of fiatscos each.
3. Speaking of the Super Bowl, ALL of the TV ads have been sold at
record prices (three million fiatscos per thirty-second spot, if memory
serves correctly. Plus production costs.)
4. Do I even need to discuss the "Animal Spirits" that are
alive and kicking--NOT ONLY in stocks, bonds and derivatives, but also
in McMansion flipping?
5. No matter what time of day or night I stroll by an Apple
Store--in any mall, anywhere--it is packed with "Pod People" eagerly
throwing down their charge cards to purchase the latest gimcrack.
(Ras Conclusion): We're scroomed. No, I DON'T mean the general
populace of clueless ewes, but rather "Perma-Gloomers" like Ras, Doug
Noland, Jim Willie and other die-hard bears who just can't accept the
"New Paradigm" of Infinite Fiat , Infinite Gadgets, Infinite
Entertainment and Social Networking for all to enjoy.
Boy, and to think that as recently as a year ago I honestly
thought we were all toast because BofA and Citi were simultaneously
failing.
Sheesh, I guess I should give up and put in a bid for some Superbowl tickets before they are all snapped up.
LOL
I'll add that paid iPhone apps are now producing >$100M/month for developers. That number could 2-5x over the next year.
And we get 2 merger announcements already -- TYCO buys Brinks for a 50% premium and Kraft rumored to raise Cadbury bid another 6-8%.
Merger mondays!
M&A Mondays. I like that.
A managed stock market is not the harbinger of recovery, or anything else. Maybe they’ll have a recovery, when companies start showing a profit before cutting employees and closing stores, and government props are removed from teachers, government employees, expanded welfare, for clunker upgrades, for defaulting homeowners, to first-time and now any-time home buyers, to banks and Freddie and Fannie and AIGs, to unknown businesses, and trillions for friends of the Fed, ad nauseam--all propped up further by a fake Zero Interest Economy on the backs of savers and America’s senior citizens--the losers.
Writes Mish today, "Although there is no provision for states to file bankruptcy, Illinois clearly is insolvnent, unable to pay its bills."
ILLINOIS CAREENS TOWARD BANKRUPTCY; GOVERNMENTAL COLLAPSE COMING
The latest count puts Illinois’ unpaid bills at around $5 billion – a contentious fact among the state’s gubernatorial hopefuls. The question is: what can Illinois do about its near-bankrupt status? Answer: not much…
Indeed, Illinois is not taking in cash, its liquid assets have dipped below $1 million at times, Comptroller Dan Hynes said, and the state is supposed to pay $5.4 billion into its pension fund next year and $10 billion the year after that. And that's just the beginning.
"The crisis will come when you see state institutions shutting down because they can't pay their employees," David Merriman, head of the economics department at the University of Illinois at Chicago told the publication…
The $5.1-billion backlog of unpaid bills doesn't include $1.4 billion in Medicaid and group health bills that haven't been processed, plus $2.25 billion in short-term borrowing that must be repaid soon… Unfunded liabilities and pension debt are projected to reach $95 billion by June 30… The sharp rise in pension payments is the biggest factor pushing Illinois toward what a legislative task force last November called "a 'tipping point' beyond which it will be impossible to reverse the fiscal slide into bankruptcy." Says Mish, Gov. Pat Quinn's idea to save Illinois is to raise the state income tax a whopping 50%. See the Huffington Post article Fighting Illinois Tax Increases for some details.
And “here are a couple of interesting Emails,” says Mish, “from a senior vice president at a California bank about how your stimulus dollars are being wasted”:
”Hi Mish
”I enjoyed your article “Measuring the effect of stimulus: If you don’t like the results, change the yardstick”
”As a commercial banker, I have a client who specializes in asphalt work, and most of his clients are cities, counties, and Cal Trans for road resurfacing work. He is benefiting significantly from all the stimulus money, as his gross revenues are up 40-45%. He has not hired one additional employee nor purchased additional equipment, so the real beneficiary is the owner of the business who I’ll keep anonymous…”
Here is a second Email on prevailing wages. "CBB" writes:
“Hey Mish
”I was talking with a business owner, client of mine. They are a contractor headquartered in ******. We had an interesting chat about the work he does work for the city of *****.
”He currently has a new job with the city and has to hire some temporary employees to essential clean for this job. He said, ‘normally that type of job would normally pay $12-15 per hour, but since it’s a prevailing wage job, he’s forced to pay that same individual $40/hr under prevailing wage laws....
”It gets even better. The same business owner just found out, that he’s in an enterprise zone, and if hires employees from within the local area of ****, he gets a credit, and essentially, the city ends up paying him back for 50% of that salary…”
http://globaleconomicanalysis.blogspot.com/
If this is Abby Cohen’s recovery, God help us.
I've seen the Illinois story today as well.
Could the land of lincoln be on the fast track to power its way past Cali?
and here I thought you were better than this....duh, the idle (sic) football fans don't know or care about futures contracts. Why? smarter than you think.. they know the game's rigged and taint nuthin' can be won but for the insiders.....so much for your charts...
Just in: Zillow report on my house/home. Value down $9K in the last 30 days. Showed this to the wife and her reply was, "Uh-huh". (We still have $50K in equity so well above water.) The next 3 properties (comps) on the print-out were all foreclosures. I asked if that didn't scare her. She says no, there is nothing that she would do differently. She turned back to the latest episode of CSI. There ya have it. Some folks get it -- some don't. I'm going to the gun/knife show here in February and taking a close look at some urban varmint control hardware. And I'm not talking about humane raccoon traps.
At least ammo's been coming down again lately.
Yep. Thought I might look into something that uses .223. That's common enough to be able to swap a little junk silver for in a pinch. Say Ruger Mini-14.
So I was thinking about it today, what a fucking mess this country is in. Then it hit me. PRIVATIZATION! Benny and the Feds, GS, GE, XOM and the rest of the S&P 500 will put together a massive LBO deal and take over the entire US government! Think about all the money they could save? Instead of paying $1k per hour for lawyer / lobbyists and blowing money on campaign contributions, just torch all three branches of government and replace it with a corporate structure reporting to a board of directors!
strange day : europe flat with US up.
that almost never happens
The ES is still 10 points down from Friday's pre-market high, and 4 points above Friday's close. You guy's should dial back the hyperbole.
Fin de siècle.
Just stay long above the 4 wk ema. How fucking hard is that for you people to figure out. Look at 1982
The Euro themselves. Very much.
Futures has been losing ground since post. Sign waves abound. Top to bottom, bottom to top. Helter skelter. Suckers buy tops. When you dip I dip.
Buy Silver.
Buy Silver 1m+++++!
Cadbury!
there surely will be a time to buy silver,but that time is not now. Now is the time for dollar carry unwind, and silver will go down with everything else. Silver will be the place to be once that phase is over. From a TA standpoint, silver has all the same momentum indicator problems as equities, plus it is ahead of equities in that it already broken below its ascending wedge and retested. I think the near term risk is very high.
Futures still sliding...suckas!!!!!!!! JAL? uh oh! poor, poor Japanese. Seriously, they have gotten shorted over and over again! Stand up samurai! Stand up!!!!!!
thats funny thank you
USD WEEKLY CHART IS NOW BULLISH.
http://www.zerohedge.com/forum/market-outlook-0
And at excactly 14:28 cet, the SP500 fut. started climbing and took the eu markets up from theire lows. How f.. easy it seems to be
How "they" do this? The S&P and EU market futures started climbing spectacularly after the "positive" news of Citigroup, after having been in very negative territory throughout the day. These illogic intraday (in EU) reversals have been happening on a very regular basis, and usually coincide with US market openings that are breaking the trends and transforming negative days into winning days... How is it done? Who or what manages it? How much cash you need to pull this off, week after week?