This page has been archived and commenting is disabled.
S&P Futures Resume Trading Under 1400
While hardly the biggest priority for NYC at this time, where rats in downtown New York of all varieties are doing their best to scramble away from the flood and get to higher territory, futures have just resumed trading for the overnight session, only to close before the average retail investor can buy or sell (mostly sell) tomorrow at 9:15 am. The first trades indicate a resumption of this morning's weakness, but keep the 1400 support area in mind: if solidly taken out this may be Waterloo for the Fed for this year and take us promptly to Goldman's year end target of 1250 in the S&P. And while normally we would expect the futures to get a NY Fed-assisted ramp that would make the TSX last second surge seems like a joke, the just released news from AAPL could well shake the bulls out of their trance, and finally force the world's biggest hedge fund hotel (230 hedge funds long) to puke and take the entire market with it. As we post, S&P 500 futures are sliding to 1397.5 (down over 10 points) - in line with where we noted they would trade at today's 'pretend' market close.
S&P 500 futures tick chart...
Nailed it...
P.S. having been subjected to not one but two days of spotlighting from various fringe blogs, Kevin Henry is now "gray" on BBG so it is impossible to determine if he is manning the Tungsten fort tonight.
»
- 7893 reads
- Printer-friendly version
- Send to friend
- advertisements -
Nailed it....
OK, I am starting to get edgy not being able to sell the few long positions in equities I still have. This inaction while watching the hurricane doome scenarios to pass the time is really the worst thing for a trader to experience. I canot see how this plays into the hands of any politician either, unless they somehow "save" something here.
@slaughterer
Uh, this is pretty much out of the politco's handbook for power grab. "Never let a good crisis go to waste." Close the markets before they plunge, cancel the election. Doubt that we'll get there, but it's always a possiblility. Regardless, you can be sure that you will hear the media talk about how Sandy "disenfranchised" voters or "voter nullification" at the hands of Sandy.
I like reading your market analysis but this type of situation is exactly the one that us ZeroHedgers come here to discuss and have contingencies available. For the day that the grid, cloud, net, etc. goes down and all ones wealth is not quite as liquid as they thought it was. If worse came to worse, and I mean really worse. I could take my chances with a few silver/gold eagles on a street corner, flea market, whatever and see what someone will trade for them. The guy at the flea market doesn't give a shit about the amount of money in my etrade account.
Just sayin'.
there is no market there is only the bernank
So the Bernank has written, so shall it be done.
All hail the Bernank.
Amen.
PURE MANIPULATION!!
Very easy now to manipulate............
OT. but check out the NY. harbor cam...Sounds nasty. BEWARE high volume. http://aws1.earthcam.com/?c=liberty
Paging Kevin Henry ... please report to 33 Liberty.
Kevin, are you out there???
Kevin!
Let`s trade the hurricane futures http://www.cmegroup.com/trading/weather/hurricanes/hurricane-seasonal.html
tONS OF long.......
Kevin Henry has now probably assumed an alias ID for his BBG. Can anyone find a "Moby Dick" or "Captain Ahab" on the BBG?
Hey Kev': get us above 1430 by tomorrow close and I will re-open the Emperor Club VIP for you alone.
not a problem if you used last week and the weeks before to short and sell the longs.
it is a full moon too
Nat gas takes opposite.
This overnight trading in aftertides by His fellowship is a token from the Lord to the lowly among us. What it meaneth is that, the Lord willing, we may have an opening to buy His iStock for slightly less than it traded for only a short time ago. This happeth but once in a thousand lifetimes, if that. Be ready to buy for all that His iMains that be let thee borrow, for the Kingdom is nigh. The wise man bideth in hiding by the door to His iGesthouse with all that he can borrow in his sack, and then rusheth through it as soon as any fool steppeth outdoors. His will be an aweful doom, for he will have lost his room and board at the Lord's iGesthouse.
ES futures went - 10 around 7pm (which when the storm was supposded to hit NYC). The strrom has no been "downgraded" from a tropical storm. Tyhe futueres then went to -6.
Awaiting news update as thus far it's been bad...but not exceeded expectations.
Broken window theory awaits. ES futures following wind speed measurements as reported.
What's the frequency Kevin..
Has Kale Smimmo reported for duty?
Question. What happens to weekly OpEx (11/2) if the markets stay closed all week?
it's all futures, but, could be a relief rally here.
Hurrican Sandy may be the final catylist to drive the equity markets lower. The USD index is quite technically bullish, and should have a negative impact on equities, which has been technically bearish for some time now. http://bit.ly/Uc7PwC
So far after some drops to as low as 1392 S&P now trading at 1402. At this rate it will be 1420 or 1430 by wed.
Keep pumping bytches. Because the next 5 QEs won't give you more than 10% upside.
Interesting was the swing in the Nikkei at what I think was the close. Almost 200 points 60 up and 140 down in like a minute. Maybe there was news?!
What is amazing about these EOD moves is that they illustrate how ill liquid the markets are. It should not as easy as it seems to move markets up or down 1% in the last minute. This can only be done when markets no longer have real bids, asks, or volume. As long as this kind of stuff continues people will be right to be negative or out of these markets. Only a matter of time before we have a 10-20% down flash crash day.
End of Line