Butt Ugly Close; Futures Selloff Continues After Equity Close

By: Mike Shedlock | Mon, Aug 8, 2011
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Mercy! What a close!

However, being the ever-optimist, I prefer to look at the bright side of things. Get your party hats ready. Another DOW 10,000 party may be on the way.

Equity Closing Snapshot 3:00 PM Central

Equity Closing Snapshot 3:00 PM Central


ES = S&P 500 Futures NQ = Nasdaq 100 Index Futures $COMPQ = Nasdaq Composite Index $SPX = S&P 500 Cash Index $NDX = Nasdaq 100 Cash Index DUG =Double Inverse Energy ETF

S&P 500 Cash Index was down 5.34% Dow Cash Index was down 5.44% Nasdaq Composite Index was down 6.86% Nasdaq Cash Index was down 6.07%

Futures Closing Snapshot 3:15 PM Central

Futures Closing Snapshot 3:15 PM Central

Nasdaq Index Futures sold off another 19 points in the extended futures trading session. 147.25 points total.

Good News: S&P 500 futures only sold off an additional 5 points in the extended session. Optimists like me can always find something to cheer about.

Today's Recap

Obama Saves 100 Dow Points

I am pleased to report that I am not the only one who looks on the bright side. InstaPundit comments ...

"Dow Finishes Down 634 Points. Obama's speech certainly did nothing to slow the drop, though I suppose the White House will argue that it would have been 734 without the speech, meaning that Obama saved or created 100 Dow points . . . ."



Mike Shedlock

Author: Mike Shedlock

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Mike Shedlock

Michael "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Visit http://www.sitkapacific.com/ to learn more about wealth management for investors seeking strong performance with low volatility.

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