Midnight rally

Quote from myminitrading:

Guess I can take the rest of the day off, thanks pumpers.
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Are you watching it all night or do you put in stops??
 
9 times out of 10 U.S. index futures are mimicking the overnight action of the Asian and European markets. You're either naive, kidding or on drugs if you think someone's "manipulating" the next day's opening in YM by throwing out 1 lot highballs.
Quote from myminitrading:

The whole reason for futures being up in the morning is purely physiological. It keeps your average investor watching the business channels concerned about the markets recent sell off hoping that its over. This gives hope and keeps them form liquidating. They get to work and forget about their investments, till they come home after work and go gee what happened.

They wake up the next morning see the futures up big all the business channels are telling everyone LOOKS LIKE A REBOUND TODAY, hope enters their thoughts again.
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Quote from Pabst:
9 times out of 10 U.S. index futures are mimicking the overnight action of the Asian and European markets. You're either naive, kidding or on drugs if you think someone's "manipulating" the next day's opening in YM by throwing out 1 lot highballs.
More...
Exactly.
This should be obvious to all ETers.
The Dow prior to the Open mirrors the London market.
:)
 
I was trading I.R. products when the spoos rallied a couple points last night. IMO, I don't think its anything more than some buying/selling that tips off some stops in a thin market. Just my 2 ticks. Trading I.R. products overnight, I usually watch the Bund, but its pretty wild, 10yr follows it some, Eurodollar a bit, but the moves are generally watered down.....except for this week! Good trade overnight.
 
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