Futures selling off 7/7/08

M

MrDODGE

What is the news behind this selling?

This is the first time I have seen the YM down over 50 points during this time of night since a few months ago.

YM currently at 11,131
 
We've practiced this drill dozens of times. Asia will sell off hard followed by Europe but there will be calm once US opens. We may gap down but there will be an incredible buying force pushing us for a green close.

Why should this time be any different...
 
Quote from The Kin:

We've practiced this drill dozens of times. Asia will sell off hard followed by Europe but there will be calm once US opens. We may gap down but there will be an incredible buying force pushing us for a green close.

Why should this time be any different...
More...

What date are you comparing to tonight? In other words, when is the last time we were down 75+ points on the YM at midnight.

I expect you are going to have to go back several months. Futures have been thinly traded during this time of night since the March low.
 
Not at midnight, but shortly after dow futures was down -500.

I can't remember if it was the January or March lows.

But keep in mind my previous post is sarcastic ;)
 
Quote from The Kin:

We've practiced this drill dozens of times. Asia will sell off hard followed by Europe but there will be calm once US opens. We may gap down but there will be an incredible buying force pushing us for a green close.

Why should this time be any different...
More...

On a serious note, Kin, why will U.S. equities rise?

Because they're lower than they've been in some time, and keep going lower?

Where is the catalyst for equities to be snapped up in a feverish pitch?

Equities did well from 04 to 07 because of the house of cards housing bubble, conspicuous consumption (fueled in part by housing), funny money CDOs reaping amazing profits for sausage shop investment banks, and HELOCs, Credit Cards, and denial.

Now that we have caught a glimpse of how the books were cooked, and the write downs keep coming and coming, with no end in sight, and banks are fighting for their survival, and Joe Six pack sold the boat, can't afford to fuel his F-150, and the Smith's are upside down on their mortgage....


...where's the catalyst?
 
Quote from The Kin:

Not at midnight, but shortly after dow futures was down -500.

I can't remember if it was the January or March lows.

But keep in mind my previous post is sarcastic ;)
More...

Wasn't sure :D
 
Guy's I'm joking. I've been waiting for a big collapse in the markets, but we always seem to see buying whenever their is a potential for a big down day. Yesterday's rally for example was ridiculously funny.

My first post in this thread is sarcastic. :p
 
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