Tuesday, March 03, 2009 10:32:26 PM
I too am blown away by the Futures tonight...
The same thing happened last night, but the difference was SDS dropped two dollars right after the closing bell yesterday...
Today it closed at $109.36 and ran up to $113.25 or so the first hour after the closing bell...As soon as the Futures showed up live again at 6pm ET, they were flat to my surprise...Down only 8 points on the $DJIA and 1 point on the $SPX...
Today was a 'gap and trap' right out of the gate...Will tomorrow be the same?...I think we get some bad news tomorrow in the Challenger Job-Cut and ADP Employment reports...And the ISM Non-Manufacturing report will also be weak...
But why in the world are the Futures UP tonight after the rash of lousy news we got today?...All of the automakers had a terrible February, and the Pending New Home Sales were at record low levels...Bernanke and Geither speaking today didn't help bring in buyers, and the markets closed near the lows of the day...
I think the Dow is headed for 6000-6500 and the $SPX to 600-650 and I stated this in the Video Charts I posted on IHUB's homepage in the Video Charts section last weekend...
BTW...This is a great board you have here!...Especially for a 'chartaholic' like me...
The same thing happened last night, but the difference was SDS dropped two dollars right after the closing bell yesterday...
Today it closed at $109.36 and ran up to $113.25 or so the first hour after the closing bell...As soon as the Futures showed up live again at 6pm ET, they were flat to my surprise...Down only 8 points on the $DJIA and 1 point on the $SPX...
Today was a 'gap and trap' right out of the gate...Will tomorrow be the same?...I think we get some bad news tomorrow in the Challenger Job-Cut and ADP Employment reports...And the ISM Non-Manufacturing report will also be weak...
But why in the world are the Futures UP tonight after the rash of lousy news we got today?...All of the automakers had a terrible February, and the Pending New Home Sales were at record low levels...Bernanke and Geither speaking today didn't help bring in buyers, and the markets closed near the lows of the day...
I think the Dow is headed for 6000-6500 and the $SPX to 600-650 and I stated this in the Video Charts I posted on IHUB's homepage in the Video Charts section last weekend...
BTW...This is a great board you have here!...Especially for a 'chartaholic' like me...
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