10 replies to this topic

[Darris]

Asia does not even seem to notice at the moment.

[rkd80]

Is this not a classic buy the rumor sell the news scenario unfolding?  If we wake up tomorrow morning and futures are up 20 points, I will be itching to dump my longs.  Even though I am quite bullish that the bottom is in for a long while. 

[Darris]

I know what you mean. Tough to pass this kind of windfall up. There must be a big stop out order above the market somewhere they are gunning for. No news being issued at the moment either, except for some economic news out of Japan after the morning session close. Futures are up 15 now. Wow

[Iblayz]

Announcement that Bush will announce an initiative tomorrow at 11:10 AM to deal with housing slump. Won't raise Fannie Mae and Freddie Mac limits but will announce plans to encourage them to help the poor unfortunate subprime borrowers (that were too dumb to understand what they were signing and thus must be bailed out) refinace their loans (or renegotiate).

http://www.nytimes.c...amp;oref=slogin

Edited by Iblayz, 30 August 2007 - 10:43 PM.

[rkd80]

I know what you mean.  Tough to pass this kind of windfall up.  There must be a big stop out order above the market somewhere they are gunning for.  No news being issued at the moment either, except for some economic news out of Japan after the morning session close.  Futures are up 15 now.  Wow

looks like they might have hit it, globex is more volatile now than during the day - kind of funny to watch. 

[bullshort]

I know what you mean. Tough to pass this kind of windfall up. There must be a big stop out order above the market somewhere they are gunning for. No news being issued at the moment either, except for some economic news out of Japan after the morning session close. Futures are up 15 now.

Wow looks like they might have hit it, globex is more volatile now than during the day - kind of funny to watch.

Would you enlighten me on how you see that they "might have hit it" since the high (Globex) was reached two minutes prior to the 4-point drop. If a stop was hit, shouldn't it have triggered a market order immediately?

[rkd80]

I know what you mean. Tough to pass this kind of windfall up. There must be a big stop out order above the market somewhere they are gunning for. No news being issued at the moment either, except for some economic news out of Japan after the morning session close. Futures are up 15 now.

Wow looks like they might have hit it, globex is more volatile now than during the day - kind of funny to watch.

Would you enlighten me on how you see that they "might have hit it" since the high (Globex) was reached two minutes prior to the 4-point drop. If a stop was hit, shouldn't it have triggered a market order immediately?

well, we dont know where the stop was, the last 5 points from the 15 point gain could have been part of the stop trigger. They hit the stop and then sold off. Seems reasonable, no?

[bullshort]

I know what you mean. Tough to pass this kind of windfall up. There must be a big stop out order above the market somewhere they are gunning for. No news being issued at the moment either, except for some economic news out of Japan after the morning session close. Futures are up 15 now.

Wow looks like they might have hit it, globex is more volatile now than during the day - kind of funny to watch.

Would you enlighten me on how you see that they "might have hit it" since the high (Globex) was reached two minutes prior to the 4-point drop. If a stop was hit, shouldn't it have triggered a market order immediately?

well, we dont know where the stop was, the last 5 points from the 15 point gain could have been part of the stop trigger. They hit the stop and then sold off. Seems reasonable, no?

Seems plausible if it was a mental stop, but not a mechanical stop. If it was a mechanical stop the selloff should have occured as soon as the stop was hit, not two minutes later and not after the price dribbled down a point (assuming we're talking about a large-quantity stop order). Also, I thought it was the mechanical stops that were targets after hours. Just trying to understand what I'm not seeing.

[TradeMark]

Anybody that buys or sells anything based on that convoluted set of proposals in the NY Times article needs counseling. Plus, even if the Administration proposals were good for anything, the Dems would kill them just to keep the White House from getting any credit. Besides, helping 60,000 actually low income borrowers stay in their homes, will do little or nothing to help all the toxic waste CDOs about. But, if it provides a good excuse to gun some stops.... go with it. Whatever way it goes, fade it.

[Rogerdodger]

Maybe this time will be different but lately big a/h futures have seen a reversal the next day. Both ways.

Edited by Rogerdodger, 30 August 2007 - 11:47 PM.