Hi leovirgo
I did notice that too - CMC seemed to let their price fall back below what is normally about 20pts from the futes, out to about 28pts at one point. They do this frequently, and I guess it's something to do with their programming, and maybe what their net position is with the client accounts!?!?
Not sure really, but it was a good opportunity to take a long at a good price. I'm holding a long term long from 10700, so didn't take the opportunity.
Cheers
Q
I did notice that too - CMC seemed to let their price fall back below what is normally about 20pts from the futes, out to about 28pts at one point. They do this frequently, and I guess it's something to do with their programming, and maybe what their net position is with the client accounts!?!?
Not sure really, but it was a good opportunity to take a long at a good price. I'm holding a long term long from 10700, so didn't take the opportunity.
Cheers
Q
leovirgo
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Thanks Q.Quercus said:Hi leovirgo
I did notice that too - CMC seemed to let their price fall back below what is normally about 20pts from the futes, out to about 28pts at one point. They do this frequently, and I guess it's something to do with their programming, and maybe what their net position is with the client accounts!?!?
Not sure really, but it was a good opportunity to take a long at a good price. I'm holding a long term long from 10700, so didn't take the opportunity.
Cheers
Q
Bullish case the pullback to 1259/60 is relatively shallow leaving the possibility of an explosive resumption of the trend. Perhaps that's what the Dax/CAC are telling us . Lows of the last few days seems firm however.
Bear case spx is only up "One day" after 9d slide, despite taking out Wed highs. The lows of the recent past have not been stress tested and is very new.
HS
Bear case spx is only up "One day" after 9d slide, despite taking out Wed highs. The lows of the recent past have not been stress tested and is very new.
HS
macbonzo
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Dire GDP figure (1.1% vs 2.8%exp), Dow futures drop 20 points. Now the question is does the market continue to sell off on the weak figure or rally because the FOMC are unlikely to increase interest rates? My guess is that we are going down today.
Racer
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GDP slows to 1.1% in fourth quarter
Final sales drop 0.3%, first decline since recession
http://www.marketwatch.com/news/story.asp?siteid=mktw&dist=&column=economic report&
Final sales drop 0.3%, first decline since recession
http://www.marketwatch.com/news/story.asp?siteid=mktw&dist=&column=economic report&
Apart from weakening fundamentals, ballooning deficits and an unpopular President there is the creeping shadow of a direct confrontation with the hardline government in Iran and the potential impact that this would have on oil prices.Racer said:
Furthermore there is another flashpoint emerging in the Middle East. Although Hamas will almost certainly adopt a more pragmatic approach once faced with the responsibility of power (not to mention the potential reality of aid being cut) their victory in the elections could undermine Olmert in the upcoming Israeli election and let in that right wing nut Netanyahu. A Netanyahu/Hamas standoff would be a real flashpoint and Iran and Al Queda would certainly try to ensure that pot was stirred to boiling point too.
Uncertain times !
Racer
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December new home sales rose 2.9% to 1.269 mln as downward revisions were seen for the prior three months. Inventories of unsold homes held at 4.9 months as annual prices fell to actual declines from a year ago. Median prices were -3.4% yoy as average prices fell -4% yoy. The price collapse from a 14% yoy pace in September suggests that anxious builders are willing to give in to avoid delayed sales. Existing home prices remain quite firm at 11% yoy. The detail shows Dec gains in the Midwest and West as the Northeast and powerful South showed declines.