Futures down nearly 100 points.....I have no clue where they will open since last week we saw on occasion or two the futures down hard only to be green by the opening...maybe the same thing could be said for tomorrow. Will have to wait and see...
Thats the way it was last time round. Futures do what the logic expects over night and then by NY open green green green. I would say 80% of the S&P drop during 2009 happened over night, while no one was looking and some of the very biggest drops happened just before US fed holidays like Martin Luther's BDay. If your short this market, trading over night is a necessity regardless of liquidity...besides its not that bad really(talking about ES and NKD and not TF). People keep bemoaning it and never trading it so it gets no love. I think wall street loves this. All the bad sh*t can happen in the middle of the night without fear of large participation...keep trading psychology in the NY day session and just squeeze their balls every morning til they turn blue and switch long...just like buy the dip conditioning. When it does finally puke during the day even most shorts are long and get caught in a bull trap. Rickshaw man's wisdom here is infallible in that by morning, as average joe wakes and looks at the market, it indeed "looks" like it is green almost every night. If they are taking it down this early, you know it will be green by 8am tommorrow
stopped out of nikkei at 17750 earlier today, small positions, not bothered with the overall loss here.
With your trading size, you won't need to consider liquidity in futures. TF is not like trading milk or lumber. It is a rather liquid contract, just less volume compares to giants like ES.
nb: the oil, nikkei and russell positions were all done in small size...the copper one is 2x bigger in size, but it was a mistake in that it should have been 5x the size