S&P Futures, huge gap down.

Anyone is watching S&P futures? What's happening? got a huge gap down right at the 50% Fib retracement.

 

DELL, AIG earnings.

 

It's down 8 pts. How long have you been following the ES? That kind of gap down happens once a week.

 

Feb. 28 (Bloomberg) -- American International Group Inc., the world's largest insurer by assets, posted its biggest quarterly loss as a publicly traded company after an $11.1 billion writedown of guarantees sold to fixed-income investors.

The fourth-quarter net loss of $5.29 billion, or $2.08 a share, compared with profit of $3.44 billion, or $1.31, a year earlier, New York-based AIG said today in a statement. AIG said it doesn't expect to repurchase shares for the ``foreseeable future'' beyond commitments made last year. The company declined in extended trading.

AIG's fourth-quarter loss is the largest since its initial public offering about 40 years ago, said spokesman Chris Winans. The $11.1 billion writedown before taxes wiped out operating profit, which would have been $1.58 a share without the charge, Morgan Stanley analyst Nigel Dally said. AIG also had another $3.27 billion in losses before taxes on impaired holdings in its investment portfolio.

 

These $11 billion are non cash adjustments.