The overnight futures market, is only realy valid for the first hour of trade.
Hey have a look at the Oz market today, mapped what the futures were indicatingfor the first hour and then traded on its merits.
But what happens for the rest of the day is for the people who buy and sell shares to decide after evaluating their positions.
Today was a good example, taking everything in perspective I think things have been oversold in Australia. But with more information over the next few days I may change my mind (especially if another HIH or OneTel appears on the doorstep). Lets not kid ourselves that the thurst of greed and belligerence only occurs in the US, surely HIH and Onetel testify to this.
