Futures kept selling after the 4pm equity market close if that's what you mean by futures selling at a discount. They're not really at a discount, they just trade beyond what the cash indices will reflect.
I believe that the December S&P 500 futures contract closed at a rather large DISCOUNT today due to the warning and huge earnings miss by EDS.
Futures do not close. The cash index compare to the futures right now is not much diferent than the after market has experienced the past week. This is not a big move.
Whoo-hoo! S&P is a couple points below FV. That can only mean one thing: Black Thursday Sep 19, 2002!
With triple witch coming up on Friday, I woudn't be surprised that there could be some games starting tomorrow . . .
i'm aware this is a newbie futures question... if the futures do not close, is it like 24 hour trading? could i trade the ES all night if i wanted to?