12,000 offered were just guys in queue trying to catch a stray buyer, it was an easy 20 handle arb vs. SPY. No sense in hanging around after 9:30am since the bots will raid the ES book to parity as soon as it unlocks.
Well it's the same exact page for any instrument, but take my word for it, changing that setting (on the FUT page) doesn't help any of these problems, I've tried.
Preopen refers to the windows where GLOBEX accepts orders but isn't trading.
There's one between 4:15pm-4:30pm and 5:30-6:00pm (Eastern) every weekday, and then there's one on Sunday between 5:30-6:00pm.
In each of those, if you watch the DOM or try to place an order, you'll see that...
I've tried that, it doesn't do anything - I think that setting is only applicable for stock/stock option orders.
You're still restricted to entering stuff 5 minutes before the open, and 90% of the time you can't get orders through in the last 30 seconds.
With regard to preopen trading in the ES or any GLOBEX contract, I have a few major gripes with IB:
1) IB restricts you from entering orders until approximately 5 minutes before the actual open, while GLOBEX takes orders 10 minutes before (and 30 minutes before on Sundays).
2) In the last...
Very true, pull up the box for 90% of Nasdaq stocks and you'll almost always see guys quoting .01-1000 100 up.
A blanket exemption without strict compliance to prevent proprietary naked short sell abuse is of course bullshit, and lets anyone with a B-D license and wide quote short at will...
This is bunk, creditors don't have any claim on customer segregated funds which will be paid in full.
If found that LEH commingled customer funds with their operations the S&P would trade somewhere between zero and zero.
If you're the other side I would advise Spersky to frame the trade confirm and hold for 1200.
Of course it's moot since the clearinghouse doesn't accept paper trades as counterparty to a legitimate short.
110 support? Probably as effective as 140,30, and 20.
Real support is created by commercial hedgers buying out of legitimate fear of rising prices, not round numbers.
Many thanks to NYMEX for this retarded (albeit opportunity laden) pre-open, lets call it arbapalooza!
PS - What changed since Friday? How many times are we going to mark up CL $3 on a storm that's in line with predictions from a week ago? Did someone actually expect it to disintegrate over...
Absolutely correct, brutal whipsaws since late July if you're trading any sort of grail/mean reversion. You have to take your 10's and 20's because it will just whipsaw the previous reaction high/low a few days later.