ES up 10 points

Discussion in 'Trading' started by pkts, Aug 30, 2007.

  1. pkts


    Hmmm....what's up? ES and NQ up 10 points. Someone getting long for announcement of Bernanke Put?

    Any news?
  2. Nikkei opened 1.2% higher. The US is following.
  3. Surging asian markets cause the futures to go higher because the us markets were flat today. This is dictated by the futures formula which is a weighted mean of all the foreign indexes added to the final close of th us markets at 8PM.
  4. pkts


    Thanks...but I thought it worked the other way around? They follow us don't they?
  5. It goes both ways. Sometimes Japan follows US and other times US follows Japan.
  6. It works both ways. It's just the impact of the US markets on the global markets may be larger due to the size, so the US->Japan correlation is more noticible than the opposite correlation.
  7. WinSum


    TOKYO (Dow Jones)--The Bank of Japan said Friday it is supplying Y800.0 billion against pooled collateral at its headquarters
  8. styron


    I think it's a reaction to the press release of the President's stimulus plan for mortgages, etc.
  9. keeps going higher..this is going to be huge. Dow could rise 400 points tomorrow

    Dow 13,385.00 106.00 0.80
    S&P 500 1,475.30 13.70 0.94
    NASDAQ 1,989.75 15.00 0.76

    Update just 7 minutes later

    Dow 13,395.00 116.00 0.87
    S&P 500 1,476.30 14.70 1.01
    NASDAQ 1,991.50 16.75 0.85

    simply astonishing

    We're on the precipice of arguably the biggest rally in the history of the stock market.

    In addition there will be no more bear markets -ever- and possibly no more corrections either as increasingly advanced trading systems and arbitrageurs. Arbitrageurs seek to profit from inefficiencies in systems, and events such as bear markets and crashes will no longer be possible since arbitrageurs will close the gap.

    In addition fundamentals are historically strong. The mean PE ratio of the S&P 500 is at 15 year lows. Meanwhile global growth is staggering as 3rd world countries improve their standards of living. Multinationals stand to profit the most from this transition though free trade.

    As I predicted weeks ago the subprime/lending/mortgage/liquidity "crisis" was merely a whimper. My argument was based on the lack of any concrete EVIDENCE of such a meltdown. Besides a few hedgefunds, financial & mortgage companies faltering the rest of industry has been unaffected. As a result the market will continue going higher since it appears the so called crisis wasn't really one.

    By sometime 2008 the dow will be above 16000. It is really the time 2 buy.
  10. Tums


    Get use to it; China will be leading for the next 20 yrs.
    #10     Aug 31, 2007