Black Monday

lol, the world is a little larger than the US of America ;-)

I hope you are not honestly suggesting any of the moves in s&P overnight (US time zone) are caused by US traders. s&p overnight has always been almost 100% correlated with moves in Asian indexes during the Asian time zone and with European ones early in the European trading session...

S2007S said:
Think its good you closed it ...you know those dip buyers will be out all night buying up The futures....even if the s&p breaks those support levels they will still buy them up and by the end of the week this drop will look like it never even took place....
Wait till Greece gets bailed out futures will surge 300-500 points so better you sold and booked some gains.
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volpunter said:
s&p overnight has always been almost 100% correlated with moves in Asian indexes during the Asian time zone and with European ones early in the European trading session...
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I’m curious to read more about this. Anything to share on that subject?
 
share what? All I said is that its ludicrous to suggest there are some punters in the US that buy dips and move s&p. Not even the dumbest fund (institutional player) is buying this dip just yet. The only idiots are small time players that will most likely get burned. It may work out once, twice, but at some point they will blow out. No fund that takes its fiduciary duty seriously would buy into this sell off in serious size in light of a potential looming disaster in Greece. But hey, a whole multi billion currency fund imploded exactly because its CEO thought he is smarter than the whole market.

samuel11 said:
I’m curious to read more about this. Anything to share on that subject?
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Nikkei off a solid 2%
A 2% off our markets would be possible but they are already floating the futures higher by the half hour
 
you dont need "research" you need to "do" research. Grab a time series of intra day bars of Nikkei or even better build a quick baset between Nikkei, Kospi, Hang Seng (you can equally weigh) and derive the correlation between the returns of this basket and the returns of the ES futures returns. You will see that during the Asian time zone the correlation is incredibly high. Maybe not 100% but most often above 90%. As you can see my comment I am specifically talking about intraday moves in the Asian trading session.

samuel11 said:
A research that supports your “100% correlated” number.
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you have done it? In 7 minutes? Can you please show your work? Because I think with almost absolute certainty that you are talking out of your ass. Dude, I wasted my time to walk you through the calculation. Do you have to be an asshole and waste others' time? If you have no interest in learning then why don't you just say so? But I am willing to bet my life that you did not download several intraday time series, create a weighted basket, calculated returns and derived the return calculation in 7 minutes.

samuel11 said:
I’ve done it. And your numbers are bs. Try again! :D
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