Rudedog - Here is a nice overview of the possibilities on Monday, from Linda Bradford-Raschke, a well known trader. She thinks the $COMPX might open between 1476 and 1559, I tend to think that is a bit severe, but we will see.
Regards,
John
Linda assumes that the market will open down to an extent equivalent to foreign markets, or about 5% to 8%. That would put the Dow Jones Industrials Average ($INDU) at somewhere between 8,836 and 9,124 -- around the level of the April lows -- and the Nasdaq ($COMPX) between 1,476 and 1,559. She believes that this will not be true panic selling, however, because the emotional component of surprise is missing. Rather it will be a pragmatic reaction to the real, fundamental losses and prospective losses to property and sales, whether it’s lower buying at The Gap (GPS, news, msgs) in your neighborhood because you were glued to the television the past two days; a sharp decline in vacation travel that will crimp the airlines; or a sharp decline in retail commission revenue at stock brokerages as individuals step aside.
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