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Yep - everyone needs to write every one of their senators and congressmen to let them know where you stand. We all know this would be a total disaster for anyone making a living trading.

Watch what you want - currency market much larger than equities. Stocks don't always follow the smartest guys in the room at first, sometimes it takes a while. Gold is the most crowded trade in the market right now. I am long GLD puts.

Yen been weak all day but just took another leg down. Thus far equities have not been watching however if it stays low and moves lower it is bullish.

Thats an improvement - it was 20 to 1 45 minutes ago.

Question: Are you merely quoting this blog or is it yours? Just curious.

It seems like you are either going to make a mint very soon or find that the price has moved against you. ES seems primed for a breakdown, if it doesn't happen may generate a pretty big rally.

I think it began today and runs into the weekend.

Also we have a strong euro/yen rally which has historically been pretty good to the equity markets. Then we have the hammer...time will tell.

Bonds falling off a cliff, yen very weak and stock market has barely moved. Either the market isn't believing it or the currency and bond guys are wrong, which typically isn't the case.

no he didn't US eyes home loan subsidies in rescue plan, according to sources - Reuters Reuters reports that the Obama administration is hammering out a program to subsidize mortgage payments for troubled homeowners who have gone through a standardized re-appraisal and affordability test...

Testing big trendline...

L 829.75 822.5 stop

Flat at 30.5 very difficult to bounce.

If Yen finds some resistance at the intraday DT (or DB depending on how you look at it) could have a shot for a little upside countertrend move in the ES. Long 830.5 stop 822

FTR I am with wave and expcet the ES to drop. However I think the move that started around 7 PM EST tonight was caused by a story out reported by Bloomberg saying Russia was having some difficulties with $400BB worth of debt - which in turn really whacked the euro and took the ES down. Just my...

I think the primary drop in the stock index futures were related to the bloomberg article above mentioned Russia needed to delay or rework payments on $400BB worth of loans - which really strengthened the dollar b/c most of the major lenders are european banks. The Euro got bitch slapped and I...

The SKF is at times responsible for 20 to 30% of the underlying stocks trading volume for the day because it has to clean up the books on the swaps by the close. Therefore, big money can game the move because they know what the managers managing the moves of the SKF (and UYG and others) have to...

BKX hitting huge support at 25. If it holds we should have a chance to rally - NQ trying to hold its own above 1200.

Ugly jobless claims - going to be tough to step in front of that NFP number in the morning now - my guess is market will have hard time getting much upside today unless we get down to 800 to 805 area.

Wave - great call on the 823.75 today, even if it took a few hours after the close to get there - what's globex for anyway? :) We might bounce here but that run up this morning has got to have caught a lot of bulls the wrong way. I think that was evidenced by the fact that the couldn't even...