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Hi Bill,
Globex is trading when other world markets are open. If there are strong
moves in the Australian and Asian markets then it is not uncommon for us to
jump onto Globex S & P to catch that market before it opens for day trading.
I presume the people in Europe and the UK do the same.
The same happens on our night market the SPI. When the Dow had that 357
point drop our market dropped 98 points overnight to 2452. Opened in the
morning at 2460 and finished the day at 2501. The underlying cash market
however fell 44 points during the day but the SPI rose 49 points - tough
trading the bloody thing on pure futures. The only way I go now is with
options and set myself up for the cyclical moves.
Regards,
Dick.
-----Original Message-----
From: Bill Sklodowski <bsklodowski@xxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Wednesday, 2 September 1998 17:41
Subject: S&P overnights...
>Greetings;
>
>This may be a "newbie" type question, but I'll toss it out anyway (the
>only dumb question is the one left unasked, right?)
>
>Last night (actually early Tuesday morning), I was crusing our mailing
>list when I came across the overnight messages taking note of the fact
>that overnight S&P trading was up some 20+ points in Globex trading. I
>checked the CME page and sure enough, the S&P was already popping right
>up.
>
>My question is this: Is there any solid correlation between the
>overnight S&P numbers and "regular" market moves during the next trading
>session in New York? I'm sure somebody has some a study on that and
>other inter-market indicators.
>
>Somebody (not me, dammit) made a few good $$$ going long on the S&P
>overnight and then continuing right through the Tuesday sesson!
>
>Thanks for any info, comment, etc.
>Bill Sklodowski
>
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