dow jones up 30 pts for 2007 !!! markets not even open

Discussion in 'Trading' started by scriabinop23, Jan 2, 2007.

  1. a sign of times to come?

    ym futures up 30
    HSI up 272 pts morning sesson
    aussie up 20 pts (was 40)
    usd weaker, 1.3237, 118.75 jpy

    this doesn't look like the recipe for a 500 pt morning selloff, guys.
  2. Neet


    Ok, now look at the SP500.

    Does not look green to me, actually looks quite red.
  3. hmm... what futures are you looking at. ES isn't trading.. neither is SPY
  4. just wait til ism and fed speak/minutes........then we will see....and phillip morris should be weaker off the honk kong smoking ban.....even asia isn`t a sure thing for the future of tobacco industry......wouldn`t get rid of kraft just yet:) did the atlantic city casino ban pass? what`s next louisiana?

    next my underground game will make them smoke
  5. Ever since Seattle 99 and 911, there is a lot of terrorism concern over new year's eve. Every year a little less, that is what is disturbing. This is the first year I did not hear "security will be tight" describing a major event over the holidays. Weather true or not it will embolden the organized or the nut job to give it a go. Aside from that, 20 pts on the ym is just covering the worst case bet.

    Good trading to all in the new year as I clean out my y2k bunker for good.
  6. interesting concept: you propose most of that was 'insurance shorting' pre new years?

    makes a little sense. i covered a few puts on last friday.
  7. Gotta admit it gets a little further in the back of my mind every year as well. The price is getting smaller to insure against the inevitable, hence the shorts, puts etc.

    Remeber when people were stocking up on duct tape and plastic sheeting to prepare for a chemical attcack? Put premiums were outrageous. So was the price of duck tape.
  8. you know the lesson here?

    the insurance companies do well with it (katrina, post 9/11 premiums, etc), and why shouldn't you.

    in the face of panic, sell puts. If you're around to have to cover them, odds are you've probably got other things to worry about.
  9. S2007S


    Contract Last Change
    CME E-mini S&P 500® 1438.50 +1000
    CME E-mini NASDAQ-100® 1788.50 +1350

    haha, truly amazing. And to think the minor selloff going into Friday afternoon was a "buying opportunity"..... .....

    Hang Seng above 20,000, BSX rallied also, the rally continues across all major market indices.

    This is Risk free buying opportunity as all markets put in more gains in 2007.
  10. Wow dow mini up 75 points on 2300 contracts amazing simply amazing. If it stays up again tonight the market specialist get to markup their stock in pre market with out really putting any money into the market, man the futures are a dream to get the markets higher with little expenditures.
    #10     Jan 2, 2007