Is that easy to sink the futures???? 10 guys in pajamas selling down the futures which creates tens of billions in market cap losses on over thousands of stocks on the open is done by 10 guys in their PJ's....hmmmm Don't fear futures—just a few guys in PJs: Cramer Matthew J. Belvedere | @Matt_Belvedere 21 Mins Ago The steep declines in U.S. stock futures should not be what's driving the action on Wall Street, CNBC's Jim Cramer said Tuesday, on a day that saw the Dow futures down 400 points and to open regular trading in correction territory. In his latest knock on the importance of the premarket, Cramer said in a "Squawk on the Street" rant: "Stop fearing the futures. There's probably like, I don't know maybe, 10 guys in a room in their pajamas at 4-o'clock this morning." Always an earlier riser himself, Cramer railed: "I was up this morning at 3:30 looking at the futures. I said, 'Oh my, there's someone in their pajamas right now, selling them down.'" "God love them. If that's the game we're involved in forget it," he continued—saying investors should pick and choose stocks based on whether there are good buys or not, rather than make knee-jerk reactions to sell.
The lengths that Cramer et al. will go to is remarkable...I suppose nobody in Asia was selling US futures at 3:30 in the am...just a couple of guys in their pj's...and really if that were true, would that be re-assuring to his sheeple followers?
ISM DOWN!!!! guess thats good news for the fed since they now have yet another EXCUSE not to raise rates in september..... The pace of growth in the U.S. manufacturing sector slowed in August to its weakest in over two years, according to an industry report, while construction spending in July climbed to its highest level in more than seven years. The Institute for Supply Management (ISM) said its index of national factory activity fell to 51.1 from 52.7 the month before, marking the lowest reading since May 2013. The reading was shy of the expected 52.6, according to a Reuters poll of economists. A reading above 50 indicates expansion in the manufacturing sector.
These econ reports are why "forecasting" is pointless...The numbers are volatile, heavily revised, full of adjustments (post-facto) and generally irrelevant by the time they are released...the best part of this idiotic practice is that the market cheerleaders rationalize bad numbers as good (Fed on hold) and good numbers as great (economic growth)...this is the third time in fifteen years that we've gone thru this drill..echo bubble after echo bubble.
I'd agree if it were even remotely entertaining...same tired guests with the same market cliche's and platitudes.
Any of you guys following Russell 2000 or TZA/IWM? Very bizarre action in that index today...Appeared that the Russell 2000 cash contract literally halted (presumably because many of the stocks were halted)...the futures TF were trading off approx 2% about 30 minutes prior to cash opening, and then suddenly the vol disappeared and the inverse etf's etc were basically hardly moving...I'm assuming Rule 48 had some impact on this (but I don't trade individual equities, so not well versed).