Question for y'all when you wake up. . .
I'm up working late and I happen to check the futures. At about 4:20 EST, I see the ES's are down 11 and the NQ's down 24. When I checked moons ago, it was down 3/12 respectively, I think. Are these types of late night swings common? (And since I doubt I'll be up when the market opens, my second question is. . . do these types of late night moves usually correct by the open?)
And a secondary question for Shack -- while you say the upcoming decline won't be big (might not be. I don't know) in part cuz of the Rydex numbers, you're assuming that as the market goes down, the numbers turn more bearish. Is it also possible that, like today, the numbers do not swing as quickly, thus prolonging a decline? Actually, I know it's possible. I guess my question is. . . what happened in May/June with the Rydex numbers?
COTs should be interesting on Friday. If today was a "manipulated blowoff top," I'd expect to see the commercials shorter. Frankly, I hope I'm still asleep then :-)
the freep |
