Yup markets up huge. Expect the dow to rally another 1000 points this week at least. I know how economics works. If you short you will lose all your money. So far ALL the econ data has been in line or better than expected. Same for earnings reports.
Can you belive the close today 10-27-08
- Thread starter Aaron Copland
- Start date
Yup markets up huge. Expect the dow to rally another 1000 points this week at least. I know how economics works. If you short you will lose all your money. So far ALL the econ data has been in line or better than expected. Same for earnings reports.
TODAY...I sold 1 ES at 944 at 15:56:04..WHY did I get out :08 seconds later!!!!!!!argh!!!!
Okay...earlier, I was up $65.00 and then down -$44 going into that sell 1 ES 944 trade...because I hate losing days...I was so glad to see $20.00 profit that I sold with concerns of it heading the opposite direction again...argh...if I just held for about 3-4 more minutes could have bought at 919 for a sweet profit...anyone do this?...please add comments
Okay...earlier, I was up $65.00 and then down -$44 going into that sell 1 ES 944 trade...because I hate losing days...I was so glad to see $20.00 profit that I sold with concerns of it heading the opposite direction again...argh...if I just held for about 3-4 more minutes could have bought at 919 for a sweet profit...anyone do this?...please add comments
Quote from Cheese:
This Monday is so far gap down when the previous close was also down. On the last 4 occasions of Mondays being gap down with the previous close down, the Close on the day has been between 20 to 165 points down on the Opening Price (9.30am YM).
Can you believe the close today 10-27-08?
If I take the Opening Price as 8228, the illustration above, made before todays market began, demonstrates that markets are technical. As shown the Close today was between 20 to 165 points down on the Opening Price (9.30am YM), specifically 96 points down on the Opening Price taking the YM Close as 8132 (INDU Close 8175).
Information in this post:
-two forms of close - close on the day - change between 09:30 and 16:00 EST. Close to close - change between 16:00 EST close and prior close. Relative and absolute close.
Weekday significant in template. Will need to thoroughly test to learn if this is valid and how to best use the information.
My prices for 10-27-2008 are slightly different from Cheese. My data analysis takes the first print at 09:30 EST as the opening price (YM) and the last print of 15:59 as the closing price. Should the close = the first print at 16:00 instead?
My opening price for this day is 8224 vs 8228 for Cheese. Close 8132 vs 8133. Is the first anomaly caused by a basis adjustment? Could the second be the difference between the first print at 16:00 and the last print at 15:59?
My data source is historical YM front month rolled into a continuous contract with price adjustment for the basis. This might account for being a few points off, however note the relative differences. My prior 4 Mondays in this condition are -75,-134,-34,-19. So I would have been looking for a close between 19 and 134 down on the open which was different to Cheese 20 to 165. I'd like to get to the bottom of this difference.
Research will be required to determine what the suitable lookback period is (Cheese will have had reasoning behind looking at the prior four Mondays).
Mine attached, times Chicago (exchange time, -1 offset from EST). OHLC are from 09:30-15:59 EST.
Of course the "can you believe" aspect of this thread related to the move from 8580 to 8116 in the last 2.5 hours of trading, despite the close going in an area which was accurately predicted in advance. Trust ET to ask for the "why" of a "big" move, or just sit in disbelief, rather than searching for and implementing the "how".