why the big drop in the S&P after hours??

Originally posted by mskl
buy the dips??

how can you lose??


For all you dopes out there going long the ND futures tonight, you could have easily bought the tech stocks all night cheaper than the futures. The NDX cash was trading around 1118 (the ask 1122). If you got on the bid of the stocks you could have easily gotten long at around 1115 (equivalent futures tack on $1.50 for FV). I like the guy who said he would try to sell at 1150 overnight.

And you could have easily bought all the QQQ's you wanted under $27.95 (from 6:00 - 8 PM) as well which translates to about 1123 for futures.

You may make $$$ tomorrow but there were better alternatives tonight.

THANKS for the dough!!
More...

Good post, and your ideas are right on target but where were you two hours ago?:)
 
MSKL, it just occurred to me that if the stocks were a better deal than the futures, you could have shorted the NQ futures and bought the main NDX stocks for zero risk. You would have made guaranteed money through that spread. Good for you if you did that.

If the spread profit wouldn't be enough to cover the costs, then buying stocks instead of futures wouldn't have been worth it.

But if it really was worth it, and you didn't do the spread, I can only say welcome to the dopey club.

edit: wow i just made senior
 
Im wondering which stocks he bought because with the exception of a few, there wasnt much of a bounce, how bout them bottom pickers:)
 
buying the stocks instead of futures wouldn't have given you the opportunity to sell when the futures peaked @ 4 am this morning.
 
@ 4AM the spreads in stock are too wide.


Although I did buy some QQQ's at 27.85 vs selling futures at 1137.50 around that time.


Last night I bought QQQ's at 27.85-90 against selling futures at 1129.


i didn't buy too much stock last night (about 8 futures worth). No INTC or BGEN - so I'm actually doing quite well - thanks!!

From last night, I'm up on several stocks - KLAC, NVLS, SEBL, PMCS, DELL, QCOM and VRTS - small losses on others - big profits in futures


Just bought my last two futures at 1113.50 as they finally came down to FV (cash trading at 1112)
 
You must log in or register to reply here.
Back
Top