Nikkei futures down 12.5%
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Bulllllshit that the capitulation means nothing
Around when Bear Stearns collapsed and we gapped down big and were down about 300 and rallied to close up 200 points, the market went on to rally for 2 months
My 2 cents is that we really need to have a limit down day to really get all of the sellers to throw the towel in and give up.
The other observation is that if you look into the banks balance sheets and see the percentage of Level 2 and Level 3 assets they still have on their books there is no wonder there is zero trust to loan money. These are assets that are hard to determine the value of because the market is so thin and non transparent so the bank decides the value in which to hold the assets on their books based on their models rather then the value that they could actually sell these assets. How trust worthy is that? Then you throw on the off balance sheet "assets". Hard to believe none of this was regulated prior to getting where we are now. So all this does is continue the uncertainty since none of the banks are still being honest with their assets and liabilities which will continue to delay the market from ever clearing. Notice how bad the books have looked for all of these banks once they blew up and had to show all their real numbers. You have to assume every bank to some degree is still hiding the same type of assets but in unknown quanities.
The other observation is that if you look into the banks balance sheets and see the percentage of Level 2 and Level 3 assets they still have on their books there is no wonder there is zero trust to loan money. These are assets that are hard to determine the value of because the market is so thin and non transparent so the bank decides the value in which to hold the assets on their books based on their models rather then the value that they could actually sell these assets. How trust worthy is that? Then you throw on the off balance sheet "assets". Hard to believe none of this was regulated prior to getting where we are now. So all this does is continue the uncertainty since none of the banks are still being honest with their assets and liabilities which will continue to delay the market from ever clearing. Notice how bad the books have looked for all of these banks once they blew up and had to show all their real numbers. You have to assume every bank to some degree is still hiding the same type of assets but in unknown quanities.
where do you guys track your overnite futures? I had links but lost them when I switched to a new PC. currently i'm using bloomberg.com but it's delayed. thx
i think all data is delayed. unless u get fut account and see globex.
for free http://www2.barchart.com/mktcom.asp?section=indices
for free http://www2.barchart.com/mktcom.asp?section=indices
some is this drop has to do with Yamato Life insurance going bankrupt.
This was always the benchmark for a lack of bounce I tried to envision when doing system design.