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Hi John and all,
Noticed in Monday's and todays trading the S&P is having a problem
getting above Friday's high. The foreign markets have had a couple of
up days so they may be ripe for profit taking and may put pressure on
the spoos. There may be another couple of problems brewing soon. One is
that
congress has not approved the new IMF funding bill. It is going to run
into resistance over bailing out the Asian countries. Also there is some
more trouble brewing in the mid-east about Iraq and possible rise in oil
prices from recent lows over the treat of possible military action.
Good Trading,
JD
> John Chamberlin wrote:
> >
> > Realtraders,
> >
> > Does anybody have a grasp or sense of how the market
> > could adjust itself from the long weekend?
> >
> > The S&P traded a regular session on the GLobex on
> > Monday and an abbreviated session on Monday and is
> > now open again.
> >
> > Currently the Globex shows the S&P up 1 or 2 points
> > or so. However, March and June Futures are both 10
> > points above the friday close. Effectively we have
> > the potential for a limit up open on a 3 point S&P
> > move.
> >
> > How will the Dow, NYSE, etc. react to not being open?
> > will they simply pop on the open to correct the
> > discrepency?
> >
> > I don't think there is any other holiday or situation
> > where we have to contend with the cash markets being
> > closed for three sessions while the futures trade.
> > i.e. Sunday, Monday, and tuesday.
> >
> > John C.
> >
> > ===
> > john@xxxxxxxxxxxxxx
> >
> > Commit yourself to quality from day one...
> > It's better to do nothing at all than to do something
> > badly.
> > --Mark H. McCormack
> >
> > _________________________________________________________
> > DO YOU YAHOO!?
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