Must know before trade on Monday!

Discussion in 'Trading' started by exce26, Sep 16, 2001.

  1. exce26


    the market will open down to an extent equivalent to foreign markets, or about 5% to 8%. That would put the Dow Jones Industrials Average ($INDU) at somewhere between 8,836 and 9,124 -- around the level of the April lows -- and the Nasdaq ($COMPX) between 1,476 and 1,559.
    this will not be true panic selling, however, because the emotional component of surprise is missing. Rather it will be a pragmatic reaction to the real, fundamental losses and prospective losses to property
    any rally that materializes off the initial low will fail because there are so many sellers overhead. There will be margin calls and mutual fund redemptions that will cause institutions to sell whenever possible
    market “specialists” will buy them initially because it’s their job to maintain stability, but they will be happy to sell them up a buck or two
    pros trying to capture a short-term market inefficiency and will sell them back out for small gains.
    Pros will wait for the first swing off the opening price to “fade” the next move – making what is known as a “counter-trend” trade.
  2. JayS


    The DOW futures settled down 255 points pre-cash-market on 9/11. Take that into account when evaluating the DOW futures vs. cash.

    Both the CME and the CBOT have deferred Index Futures rollover from September to December until Tuesday, September 18.
  3. tntneo

    tntneo Moderator

    all foreign markets gave a lot more back than 5%-8% since last tuesday.

    The gap down will be huge imho monday. but that's just a gap, it's not the real trouble.
    It will be difficult to trade this market at least for one hour and maybe more. I base this remark on past big gap down days. fading the move won't be enough imo. We should see a lot of noise with all the conflicting agendas waiting for monday to act on.

    if you don't have to trade, maybe it's better just to wait and see.

    all this is very difficult here. I don't see any reason to rush and so stupid things. Do not forget all the foreigners just waiting to sell this market (dollar went down last week).

    I do think the market will be higher than the open monday within a few days. but what I think is irrelevant. the market is always right and if it decides to go south for longer, don't stand in its way.

  4. Htrader

    Htrader Guest

    For whats its worth, I believe the QQQs last crossed at 31.7 on island tuesday morning before all trading was halted. At that price, it implies 7% drop for the nasdaq from the monday close.
  5. exce26


    NYSE confirmed that all the test has been completed.
    It is ready to start trade on Mon.
  6. Does anybody know where to get quotes on US blue chips traded on foreign markets. I would like to know where MSFT and the likes are at. As for the next two-three days I would be careful about trading halts, system failures, intraday Fed rate cuts and possible new attacks , they had to evacuate the NYSE area again on saturday during their system test.
  7. Babak


    All US interlisted stocks on any foreign exchange were halted on Tuesday Sept 11 2001.
  8. MGB


    Your first post for this thread was an excerpt from

    Why didn't you quote the source?

  9. wild


  10. MGB


    sydney -131.80 -4.33%
    Hong Kong -298.00 -3.09%
    Singapore -70.79 -5.06%

    Australian and Asian markets finished lower on Monday.
    #10     Sep 17, 2001