Monday, November 16, 2009

Curious Strength in the Futures

Most of the gap up so far can be attributed from a move that occurred from 6:00 PM EST Sunday to 7:00 PM EST Sunday.  Bascially, if you didn't buy the ES from 6:00 PM to 7:00 PM EST, then you missed most of this gap up move or even lost money. This kind of move that is this strong is quite uncommon without any kind of news, this is usually a post earnings event type of move.  Crude oil is lagging the ES again, and the European markets after gapping up, have gone slightly lower.  I am projecting weakness in the 1st half of the day based on resistance at 1100, European trade, and failure of crude oil to rise strongly in the face of strong equity futures.  

1 comment:

Anonymous said...

Is NLST shortable.

I called it as a short at 2.50. Jeezus fucking crhist.

It went to 6.50 today.