Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

baletwine....

I am not sure what you were seeing earlier in the weekend, but the futures markets are of course now open so the prices will be changing. What throws a lot of folks off is that the futures trade for an additional 15 minutes after the equities markets close, and that can distort the "final" quotes a bit. Nonetheless, the futures do not trade between 3:15 Friday and 5:30 Sunday afternoon.

Probably what you were looking at was that the final close on the futures market at 3:15 Friday left the NDX futures around 340 basis points above fair value and the S&P futures a little under 150 basis points over fair value - that would explain the positive numbers you were seeing. That also means the futures are not down as far under fair value as the current quotes suggest.

mlsoft