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Right... and conversely, you can imagine GS or JPM's multiple 100-lots are going to be held for a minimum +10 or so. We saw that yesterday when ASus announced the JPM buy orders at 994, and ES topped out after that at 1003.75. Those GS 998.30 shorts from today are good +5.00 at this moment...

I recently saw a screenshot of what looks like a normal Time and Sales window, but with a column that had a name alongside each order (Goldman, JPM, etc.). Wish I could remember where I saw that, but that's what made me think it might be available by subscription somewhere.

ASus ... thanks for the info. Just curious - do you have access to the floor, or is this from a paid subscription that shows the source attached to order flow? Thanks.

We're knocking on the door of the 38% levels in the Dow and SPX, obviously. Seems to me today's and/or tomorrow's employment numbers could be the catalyst for that last nudge to 1012-ish on the S&P. But of course, then what?

Aaaaaand ... they got their +10 even. Edit: my mistake ... it only got to 03.75 (but still 35 minutes left to try and get that last tick).

RTH R10 ... interesting.

Every shred of newbie material I've ever seen on trading mentions commissions and slippage as part of normal trading costs. Think of it as the airfare that gets you to Vegas.

If you don't mind my asking, who do you use for futures trading and how long have you been with them? - thanks.

Basically you need another system that takes advantage of the longer runs by using a R:R > 1:1. Then you can trade the 2 systems simultaneously, entering with 2 contracts at the same time. That's really all it boils down to.

Now the defenders got their +10 ... whether they take it and call it a week (month) is the next question.

Entry and exit? ... did not trade 85.50 until after target reached. Just curious - thanks. Nice journal. Edit: (sorry, just saw similar question 2 posts above.)

2 random stats here to chew on ... 1) this week has seen the lowest volatility, based on 4 days with <15 pts range, since the week of 12/03/07. 2) the last time a gap did not fill in RTH on a Friday was May 8th of this year. Good trading everyone.

Any news to cause this drop? ... GDP leak perhaps?

That's the kind of thought I had about 6 weeks ago, when ES didn't touch a daily SMA other than the 9,10, or 12 for about 150 pts. Plays based on that didn't work out too well. :) Edit: Clarifying, I meant directional plays (mean reversion) ... don't know about strangles.

NASDAQ hitting major top TL resistance now, also round # 2000. It'll be interesting to see if that signals the reversal, or if we need to see SPX touch 1000 or its own TL, which is way up around 1150.

Whoever's crying about this needs to get over themselves. Wasn't it broadcast on national tv already? So what's the big deal - it's not like there's some holy grail revealed in that series. I've got stuff of mine pirated all over the place on Youtube ... who cares.

I generally like your ideas Pek, but one flaw I see with your current test is that you're doing it on data from a period where for 4-1/2 of the last 5-6 months the market rallied 50%! I would think this might skew the results toward the positive.

Thanks for your post jeb. Regarding your question, who knows what could happen to IB? Maybe a ridiculous transaction tax gets passed and suddenly there's a run on all the discount brokers. Or we wake up some morning to see Peterfly on the news ... in handcuffs. I'm not saying either of these...

I am under no such delusions. But I do think they'll have a harder time selling a tax here with blatant favoritism toward big banks than has been done in comparable situations elsewhere.

Possibly ... then I wonder why it's taking so long.