Why futures down a lot , any news?
- Thread starter ganesh6
- Start date
As always a lot of ways to view/spin things.
My spin: S&P tried to test resistance and failed. In fact couldn't even get all the way there, not a good sign. Dow over shot it's level a bit.
http://charts.dacharts.com/2008-01-30/2008-01-30 17-31 ES #F D.png
My spin: S&P tried to test resistance and failed. In fact couldn't even get all the way there, not a good sign. Dow over shot it's level a bit.
http://charts.dacharts.com/2008-01-30/2008-01-30 17-31 ES #F D.png
I know people like Jea Yu say just watch price action and forget about news for the most part, but in my opinion it's insane not to use the best newsfeed you can get. I'm trying to find the best one I get for a reasonable price but right now I'm just going with newsstrike.....anybody got a better one that is reasonable priced, or better yet free?
S&P announcement along with FGIC announcement - huge, huge fear about the ongoing viabilty of our financial system. After all this time, literally years of worry about subprime, still, no one knows what the total liability is. It's a very scary unknown and there's no evidence that the powers that be even know what the hell is going on much less any evidence that they're going to do anything about it.
is there website with metrics about the subprime market? for example someplace that would tell you exactly how much $ worth of loans are resetting on what date, when loans are maturing, current default rates, etc....
YOu can get reuters news from http://www.equis.com/products/realtime/quotecenter/?overview
for $135 a month.
i've seen some good commentary from the ballers on the barron's round table from the last 3 issues that stated the dollar sell off has been over done. marc faber's currency trades are basically that the yen and dollar are undervalued and that the pound and euro are overvalued. felix zulauf also felt that the pound was overvalued and dollar undervalued.
and from what i have seen when 2 people with proven track records who don't have contact with each other come to the same conclusion on a trading idea (especially a counter trend one) then it probably has some merit to it.
just my take on the dollar.