ES Journal - 2012

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Quote from Lawrence Chan:

Right after open, an unusal size of buying happened on NQ caused the index to trigger major buy program activities.

That in turn forced ES to go higher.

Signature PPT.

Go with the flow was the only choice 10 mins after open.
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You're just reacting then. What about being pro-active, predicting PPT in advance?
 
Quote from KDASFTG:

PPT Defined:

Former-Clinton advisor, George Stephanopoulos, verified the existence of The Plunge Protection Team (as well as its methods) in an appearance on Good Morning America on Sept 17, 2000. Stephanopoulos said:

“Well, what I wanted to talk about for a few minutes is the various efforts that are going on in public and behind the scenes by the Fed and other government officials to guard against a free-fall in the markets….perhaps the most important the Fed in 1989 created what is called the Plunge Protection Team, which is the Federal Reserve, big major banks, representatives of the New York Stock Exchange and the other exchanges and they have been meeting informally so far, and they have a kind of an informal agreement among major banks to come in and start to buy stock if there appears to be a problem. They have in the past acted more formally… I don't know if you remember but in 1998, there was a crisis called the Long term Capital Crisis. It was a major currency trader and there was a global currency crisis. And they, with the guidance of the Fed, all of the banks got together when it started to collapse and propped up the currency markets. And, they have plans in place to consider that if the markets start to fall.”
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Thanks, I had difficulty believing what you wrote. But then I googled it. It does sound hard to believe in free and efficient markets domain but who knows :)

I am a convert already. LOL
 
Quote from failed_trad3r:

You're just reacting then. What about being pro-active, predicting PPT in advance?
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I enter my trades on confirmed moves most of the time.

confirmed = higher prob + lower risk + reduced reward
 
Quote from gmst:

Btw, What is PPT? Thanks.
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The PPT is like the Loch Ness Monster. Noone has ever really seen it, and all the pictures look like a floating piece of crap.

Today was a perfect example of reverse psychology. Retail expected a selloff, Big Money shows what happens (once again) when you assume.

That and Dimon probably gave instructions to buy everything in sight, just to show he still has brass ones. :eek:
 
Quote from keeptradin':

The PPT is like the Loch Ness Monster. Noone has ever really seen it, and all the pictures look like a floating piece of crap.

Today was a perfect example of reverse psychology. Retail expected a selloff, Big Money shows what happens (once again) when you assume.

That and Dimon probably gave instructions to buy everything in sight, just to show he still has brass ones. :eek:
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Haha, you should have heard him on conf call last night. He is one cocky mofo.
 
Quote from mastacoli71:

Haha, you should have heard him on conf call last night. He is one cocky mofo.
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He is also Greek.

So, if the way they play the game in Greece is any example, you could not trust this guy. He was completely informed of the 'problem' ,but they were hoping it would go away. Problem was that it didn't.:eek:

BTW,wouldn't be surprised to see ES under 1350 this afternoon.

ZB up, 6E and 6CM have both rolled over.
 
Quote from mastacoli71:

Haha, you should have heard him on conf call last night. He is one cocky mofo.
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You don't get to be CEO of JPMC by being a pussy.

Guarantee you their house has a big part in the buying today.

It's all about frontin' on da Skreet...:D
 
Quote from Macho:

He is also Greek.
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That explains the stupid grin on his face as he's confronted with the consequences of his conspiracy.

Noone better than the Greeks at pulling off "dramatic irony"...:p
 
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