Home > General Topics > Trading > Why futures down a lot , any news?

Why futures down a lot , any news?

  1. I see futures down a lot S&P 20+ points, Dow 120+


    Any news?
     
  2. S&P says total losses from RMBS, CDOS for financial institutions will eventually reach more than $265 bln - Reuters

    Says expects upward revision of losses from some large european banks. Expects losses in the U.S. to move to regional banks, credit unions, and FHLBS. Expects outlook changes or one-notch downgrades for selected, especially thinly capitalized banks. Says downgrades will have implications for trading revenues, general business activity, bank liquidity.
     
  3. Thanks NY_HOOD.
     
  4. stocks down and dollar down huge again

    noone wants to have a depreciating asset. everydody liquidates dollar positions

    if fed doesn't emergency rise tomorrow it's over
     
  5. i think it is the numbers of the potentail losses for abk and mbi that bill ackman wrote in his letter to the sec and the ny insurance commissioner. he said each one could lose up to 12 BILLION.

    ...but it could also just be a continuation of the late day reversal
     
  6. I think the futures selling off somewhat corresponds with the breaking news from Standard and Poor.
     
  7. :D; if it does; it will be over faster.
     
  8. It is.
     
  9. I think VMW is a good metaphor for the last 6 months or so. Got totally inflated to 125 on that ridiculous Oct. rally, and now back to close to where it opened on it IPO day. All the fat getting cut from the market
     
  10. ahh...yes i missed that s&p news....that is it.
     
  11. VMW is not a good "proxy" for the market.
    The company had an Enterprise Value that was literally second to none . . . Only BIDU traded at a higher EV.

    Not even Google traded at such a high EV as VMW.
     
  12. I know people like Jea Yu say just watch price action and forget about news for the most part, but in my opinion it's insane not to use the best newsfeed you can get. I'm trying to find the best one I get for a reasonable price but right now I'm just going with newsstrike.....anybody got a better one that is reasonable priced, or better yet free?
     
  13. Looks like AMZN is also getting killed.
     
  14. S&P announcement along with FGIC announcement - huge, huge fear about the ongoing viabilty of our financial system. After all this time, literally years of worry about subprime, still, no one knows what the total liability is. It's a very scary unknown and there's no evidence that the powers that be even know what the hell is going on much less any evidence that they're going to do anything about it.
     
  15. is there website with metrics about the subprime market? for example someplace that would tell you exactly how much $ worth of loans are resetting on what date, when loans are maturing, current default rates, etc....
     
  16. YOu can get reuters news from http://www.equis.com/products/realtime/quotecenter/?overview
    for $135 a month.
     
  17. Dollar strengthening is odd, see usd/aud.
     
  18. i've seen some good commentary from the ballers on the barron's round table from the last 3 issues that stated the dollar sell off has been over done. marc faber's currency trades are basically that the yen and dollar are undervalued and that the pound and euro are overvalued. felix zulauf also felt that the pound was overvalued and dollar undervalued.

    and from what i have seen when 2 people with proven track records who don't have contact with each other come to the same conclusion on a trading idea (especially a counter trend one) then it probably has some merit to it.


    just my take on the dollar.
     
  19. yup, downgrades on credit ratings across the board, Fitch too..this is gonna hurt

    K
     
  20. I feal like a total idiot for covering my short hedge before the FED anoouncement. Ahhh!!!
     
  21. http://www.bloomberg.com/apps/news?pid=20601087&sid=am2Nk1VM5YsA&refer=home

    S&P downgrade or reduction in ratings on $534 BILLION in CDO's and sub-prime mortgage securities.

    Could lead to more write-downs.
     
  22. Fucking best news after hours that I could ever have.

    Question is, can we please get some FUCKING CAPITULATION on the next run down? :mad:
     
  23. capitulation ? what do you require ?
     
  24. French bank selling a million futures on the Dax, CAC and ESTX 50 isn't capitulation?
     
  25. Oh buy the way. Look at the last Bear we had, not to long ago.

    Did you see any Correlation between then and now?

    All you amateurs on ET take out your charts.....Look at 2000-2003.

    Now take out your Fed Resrv Rate Charts for the same period.

    Hummm, anything interesting.


    :eek:
     
  26. Patience

    I know ur in the UK, in for a long night ?

    me too ..
     
  27. Yes, that was "French Bank" capitualtion, you are correct.

    HOWEVER I DONT FUCKING TRADE THE DAX, OR EU MARKETS!:mad:

    The idiots on ET, the sheeople, the brokers and fucking idiot Principles need to Capitulate...the US MARKETS NEED TO CAPITULATE!:mad:
     
  28. And if you were to ask Paulson, Bernanke, Bush or anyone in Congress about the monolines you'd hear, "mmm...bubmm...um...I don't really know but, golly, I guess it'll all work out if we just ignore it."

    I don't want to get all political, but much of the economy's anxieties are created by the gigantic leadership vacuum we have in America. A bunch of f-ing clueless stumblebums.
     
  29. Como"n deepfried.

    The fucking SHEEOPLE are the ones that got us in this fucking mess. The American JACKASS who spends 100x what he/she makes.

    The fucking word ESTATES on a sign where 100K homes are placed.

    Bmw, Mercedes, Audi, Hummers all on finance for 7 years.

    Flat Screes @ no interest for 2 years and no paymts for a year.

    Credit card debt x3,

    Get Real. The AMERICAN PEOPLE are First to blame for getting their "Fiscal House" out of order.

    The fancy second and third market trading of CDO's came because Sally Home Maker and BOB the fucking Idiot had to "ROLL" Like Hollywood and take out Risky Loans with ARMS. SHIT THEY CAN"T AFFORD


    I don't like the Gov. much but we have had TAX CUTS upon TAX CUTS, LENDING FOR IDIOTS. THE WHOLE FUCKING WORLD WAS GIVEN TO THE MIDDLE CLASS AND LOWER CLASS.

    I had to pay ATMI TAX on top of all kinds of other "Tax's" I got no breaks, They Fucked me in my ass with out a reach around.


    The IDIOT SHEEOPLE abused the gift that was given to them. THEY WILL FALL NOW.

    I can put a loaded gun on the desk. You can either shoot it at a person or you can be responsable and take it to a "Shooting Range".

    Can't blame me if you choose to shoot someone.
     
  30. Well, you sure as shit nailed this. The American consumer is leveraged to the hilt. The entire American economy is built on debt. Savings? What's that? No one saves, the government just prints more and the American consumer borrows and when they can't pay off their debt they borrow more. It's a big house of cards that's about to come crashing down. The Fed is doing their best to stop it, and they may for now, but eventually if the debt isn't worked out of the system and brought down to reasonable levels the American economy will collapse and take the rest of the world with it.

     
  31. Got trade a real market, not one that goes limit down, that is for girly men!
     
  32. I'm not letting them off the hook but they ARE largely just dancing to the tune that our "betters" have called. We're a consumer society that produces nothing but paper shuffling and the people who get paid $100 million or more per year to shuffle the paper have completely fucked it up by creating a level of fraud and corruption that would shock Al Capone.
     
  33. + it is tough to value a company when the numbers have been manipulated to the point you don't know what is correct.
     
  34. an interesting twist to these latest downgrades is that the credibility of just about all ratings agencies has been crumbling over the past 6 months...thus the market's reaction may be more complex than just a knee jerk selloff
     
  35. atleast 10% down day across the board would be really sweet.
     
  36. Limit down before that sort of malarky, but hey, Hang Seng starting to look ugly, :wtf:
     
  37. The market is looking for "excuses" to retest the lastest lows. From there I see stabilization or an up move (but I will wait and I see until this is confirmed before putting money in for the long side). Typical bear market behaviour...
     
  38. ET became bear's den den lately...
     
  39. Up 10 points from the 'bottom'.
     
  40. Holy f--k.

    I didn't see that coming. But then I didn't see today's reversal coming either. :confused:
     
  41. Well, that or everyone has stock turder on ignore :p Maybe it's time to balance things out and put on ignore perma bears.
     
  42. Well it is nonsense that moody's and S&P haven't downed graded ambac and mbia and the other banks. I mean come on what are they waiting for let it all come out and we can be done with it. This is the reason why were going to get into a nasty downturn because the credit agencies are the biggest liars I have ever seen. There just playing the good old boy network by not downgrading. Now I have to say that I am short the market and that would be great, but realistically we need this to happen before the bear market will end. If anybody is foolish enough to think that a bear market will just be a few months is nuts. Actually we need this to purge ourselves of all the inflation that has been created. Commodity prices are to high and need to come down and one way for that to happen would be a nice little recession and bear market. :cool:
     
  43. Yes there is news.

    It has been confirmed that Abraham Lincoln is dead
     
  44. Futures back to flat. Go figure. :confused:

    Quite a comeback. I guess that Fed koolaid is still tasty to somebody.
     
  45. ES +3.25

    Wow. That's a better than 20 point rally off the aftermarket low. 131 points on the Dow futures.
     
  46. I hope you guys learned a lesson here. Like maybe just forget about the futures all night unless you are actually trading them. Really, they do this all the time!

    Unless, of course you like stressing about your positions overnight. Hmmmmmm.
     
  47. Nice wide oscillations in the ES, I bet all the trending-market guys are pretty happy... I don't like to see those pyramid shapes at all though.
     
  48. Very well said.
    We are simply in a big "trading" range, albeit at lower levels than what we were used to for 2007.

    Great opportunities if you don't get trapped into the "Gloom and Doom" mantra by the talking heads on CNBC.

    Know your technical levels and Trade the Range!

    :cool:
     
  49. if overnight moves reverse a lot. Why don't you just fade the move a lot. Riding 30 handles in the ES seems like it could be a profitable strategy
     
  50. Yes, God forbid we shoot the shit about market moves on a trading forum. We can't have that. :confused:
     
  51. These guys were stressing about their overnight positions because futures were down big. Then the futures reversed like they do many a night. You shouldn't even look at them until close to market opening. Unless of course you are trading them. No need for extra, unneccessary stress unless you like it.
     
  52. And no need to lecture someone for shooting the shit about the futures...unless you like lecturing, of course, which it appears you do.
     
  53. when the futures are trading at like 1am, is this mainly a) people trading, either nightowls or people in other countries or b) computer running automated hedging/strategies?
     
  54. Overnight futures= Some great traders, some afterwork addiction traders, and some overseas traders. But really when the futures are up, down, or flat at midnight, doesn't mean shit because they can move so much before the open. Just look at them an hour or less before the open.

    Deepfried, what I am saying is pretty simple to understand, if you can't, then f$ck off.
     
  55. Have a nice day, professor.
     
  56. Pilotboy, I think I tweaked you back a little too hard with my posts. I hear what you're saying about the futures and you're right. Sorry, man.
     
  57. Only playing brother. No harm done.