Why would there be manipulation here? ZBEAR, What are u talking about the last 3 outages happened at key points? It certainly really strange how this whole thing happened but again the market does strange things. This break in the morning looked for good and real, then when it came back the averages went through 60' 20 MA, 5'200 MA like it was butter. Technically on the basis of the 5', 15 min. and 60 min charts I would never have gone long on the rally, but the CME outage changed everything. It seems like these days anything goes intraday. BTW did you notice the CME stock which had a big run recently didn't even budge today.
You people who complain about the CME, the floor traders, etc. are dead wrong. You think they intentionally shut down their most lucrative product for a day? You show em, go trade eurex or whatever, feed the foreign exchanges. What a bunch of fools you are.
The jobs number comes out at 8:30 and likely will be bad. I wouldn't be surprised if it opens weak off that, rallies, then catches a big sell-off. There is also the Osama factor to consider. Odd that this outage occurred right before his "capture" was reported.
I think the CME needs to reduce the Emini s&p tick size to .10 (just like the pit contract) in order to make up for this outage travesty!
Need I remind you that the CME is a public corporation now. And these days, what manager of a public corporation wouldn't rather make a quick killing than insure their job security for the next 20 years...let alone ex-trader managers. Wake up, brother....this stinks to high heaven.
With the growing popularity of the e-minis, I doubt they think they need to make any concessions. On the contrary, the CME just increased the monthly exchange fee from $10 to $15 on April 1, 2003!
I'm getting bid / ask and now ES is trading as of 7:15 PM EST. Website said they would notify us- they never did post when it would reopen on the CME web site. typical CME poor communication.