here's another prediction thread... who's fading the open, who's following momentum and going short. i haven't a clue how it goes, but if it goes down further from here (already -15 in s&p futures in asian session), it looks like its going to be gigantic.
heheh... this is nuts. heng sang down 800 pts (3.75%) HHI HK down 5.2% Taiwan down 5.4% spi (aussie) down 195 (3.2%) I was long a bunch of august taiwan calls thru this but was wise enough to get delta neutral and turn it into a synthetic straddle (go short) at open. closed out my short since I captured almost all the 5% move.. My calls are almost paid for 'free'.
If the markets gap 1% lower I'm certain they will continue trending lower for most the day after after a failed 10:30 rebound attempt . I have never seen a single instance where the US markets gap down a lot in the morning and then stage a meaningful rebound. Usually it's a done deal. 6 hours of pain.