USA Equity Futures: Look Out Below!
Holy Snikes!
Dow Jones Industrial Average futures contract are off 520 points at 11,586;
Nasdaq futures were at 1773.25, down 76.25.
Standard & Poor's 500 futures recently were at 1265, down 60.3.
Let me hasten to remind you that this is "contained."
Imagine how much worse it would be like if it were not.
Monday, January 21, 2008 | 05:26 PM | Permalink
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Looks like the next leg down may be here.
Posted by: alex108 | Jan 21, 2008 5:32:37 PM
It is contained to planet earth.
Posted by: sunsetbeachguy | Jan 21, 2008 5:34:23 PM
I post this as a public service, seriously.
Today is the real Blue Monday, btw. Tis a date calculated to be the most depressing day of the year, the 3rd Monday of the year.
I'm dead serious>
This is according to U.K. psychologist Cliff Arnall, who specializes in seasonal disorders at the University of Cardiff, Wales. Apparently it has to do with money, weather, and failed New Year's resolutions. Arnall calculated it using seven variables: (W) weather, (D) debt, (d) monthly salary, (T) time since Christmas, (Q) time since failed quit attempt, (M) low motivational levels and (NA) the need to take action.
http://www.time.com/time/business/article/0,8599,1704887,00.html
Posted by: bucky katt | Jan 21, 2008 5:38:50 PM
it is contained to my diaper. so far. and boy am i glad i started wearing them.
Posted by: scorpio | Jan 21, 2008 5:39:03 PM
It's the greatest story never told. Or is the greatest story that never happened?
Posted by: GerryL | Jan 21, 2008 5:44:27 PM
Tomorrow morning is not looking like it's going to be pretty. I'm waiting for the Asian markets to open to see how they respond to the previous session's action.
Posted by: Florida | Jan 21, 2008 5:45:46 PM
Maybe this psychologist Cliff Arnall is onto something? I wonder how long before we see stories of jumpers due to severe wipeouts in the markets?
Posted by: bucky katt | Jan 21, 2008 5:49:07 PM
I can't understand all of the calls for rate cuts here.
Sure they will prop up equities but how will they benefit the overall economy? I fail to see how they will help. The write-downs will continue rate-cut or not!
Posted by: JS | Jan 21, 2008 5:51:27 PM
I suppose confronted with the possibility of losing too much "wealth", the nations of the world will decide to reflate, etc.
Posted by: halbhh | Jan 21, 2008 5:51:48 PM
The idiotic and sophomoric speeches by Beranake and the President last week indicates just how asleep the people in charge really are. Clueless as to reality.
Posted by: bucky katt | Jan 21, 2008 5:52:27 PM
Kool-Aid is actually a very refreshing winter drink ...
Posted by: Doug Watts | Jan 21, 2008 5:53:43 PM
Could someone please explain briefly to a non-professional:
1. who and how trades the futures on a day-off, for which date, and what's the volume compared to a typical weekday morning?
2. how much should we read into today's futures if tomorrow morning they will be trading with the hindsight of the Asian/European markets' action?
Much obliged,
Posted by: Alex Khenkin | Jan 21, 2008 5:55:18 PM
Watch this, however lot's and lot's of F-Bombs.
http://www.youtube.com/watch?v=rCtQL5b_rCM
Posted by: Donny | Jan 21, 2008 5:59:58 PM
I'm with GerryL. It's the greatest story never told......at least until after COB tomorrow in case you still don't get it!! IDIOT!! I take that back. They will never come clean. It's sleaze to the death!
Posted by: BG | Jan 21, 2008 6:03:17 PM
Like the guy who pulled into the far left lane of the autobahn in a Ford. You know he's gonna get killed. But will it be a Mercedes, Porsche or a Beemer?
Actually mayhem can be fun to watch sometimes. The old saw about the Socialistic longing for diaster.
Honey, get my Thorazine................
Posted by: Ross | Jan 21, 2008 6:04:10 PM
anyone know of a good (free) way to watch the asian markets? Barry, hell of a good job!
Posted by: dan in michigan | Jan 21, 2008 6:07:37 PM
Australia and New Zealand still falling.
No buyers have stepped up there.
Yahoo not giving me updates on the other markets. Did they lock limit down, not open, or what? Maybe Ben's choppers got there first........
Posted by: lurker | Jan 21, 2008 6:09:51 PM
It would be interesting to see if any of the "circuit breakers" kick in. Is DOW -1350 a possibility (first breaker).
Posted by: Quiddity | Jan 21, 2008 6:10:50 PM
Reuters.com is good for the Asian and European markets.
Posted by: Invigilator | Jan 21, 2008 6:21:00 PM
Nippon mkt down another 1.5%. I too was wondering if anyone had a Google count on NYSE circuit breakers.
Lone ranger to Tonto "we are surrounded by hostiles, we are in big trouble." Tonto " what do you mean we, white man."
Posted by: Ross | Jan 21, 2008 6:21:22 PM
Alex, I'd like to know too.
I don't think the CBOT is open. So, I'm suspect of where they are trading. It's also a thin market even on the CBOT.
but it's Scary.
Just some more Kool-aid for people, but sometimes markets "Flash Red" like this to show massive problems in the economy, and are trying to get every one's attention.
or banks will Crash, our economy will never recover, and all assets will be Seized, not like FDIC is actually worth anything.
I have -250 futures, but also, this isn't the first time I've seen that reverse by the opening bell.
Ya... I think the dow futures trade differently than the S&P and naz.
"the s&P and Naz" I have are positive.
Maybe the only place we get proper read on the Dow is the CBOT and I don't think it opens for about 13 hours.
I remember after the anniversary of the 87 crash when we sold off very hard and the futures were like this.
I'm just saying have some scepticism. and if you trade, and it's true, your going to need your sleep tonight.
Posted by: Eric Davis | Jan 21, 2008 6:24:23 PM
I watch the overseas markets at allstocks.com.
I wonder if we're getting an "emergency" cut tommorrow?
Posted by: JayJay | Jan 21, 2008 6:34:42 PM
Decoupling my arse-- and I thought breaking up was hard to do.....
what a minute that came out wrong...oops so did that.
how bout those Giants?
look out below...
Posted by: lurker | Jan 21, 2008 6:35:15 PM
Bernanke maybe more out of touch than Michael Brown of FEMA during Katrina
Posted by: jake | Jan 21, 2008 6:39:31 PM
Dow Futures stand at -474 right now. If this thing picks up before the open in the AM, I may have to go buy a case of beer and call in sick tomorrow. This may be worth watching.
In my humble opinion, we are really in uncharted water. Financial benchmarks aren't "stretched like never before". They are now off the page! I hope for prosperity in the future; but that does not make it so. Our prosperity experienced-to-date was earned by hard work and sacrifice with no funny business. What happens when everyone slowly discovers it is now ALL funny business. Nobody knows. Kilrow has not been here before.
Posted by: BG | Jan 21, 2008 6:39:40 PM
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