ES Journal - 2019/2020

[EON Kid]

As in good for a short?

right bud

 

[SPYgrain]

If we bounce bears can let her float to about 75 +/-, and then she must come down ...

EDIT: Above 75 opens it up to 2890.75 +/- ... and HWB is 2883.75

This is looking like a nice call NQurious.!

 

[Laissez Faire]

I don't think that ANYTHING can be used for predictive purposes.

Really?

That said, the theory (I don't have the volume data to test it) is that moves with low volume are suspect. Regarding this last move up, at the beginning there was high volume, but as we kept going up it kept getting lower and lower, i.e. the last part of the move up is a short squeeze and now we should drop some (not as in doom and gloom, but as in a normal correction of the correction).

Sounds reasonable and I even agree, but the problem with this is that the information is only available to us after the market actually dropped. And now that we're here - what from here?

I've thought about volume a lot and still have doubts about its applicability in making trading decisions on a market as thick as ES (which is arbed against an index and used for hedging purposes left and right). I feel volume in equities and commodities makes more sense.

But I certainly don't know for sure and try to keep an open mind.

 

[syswizard]

So the margin required to trade June Crude has been more than the actual value of the contract at times during the session..never seen this..

You are correct as long as the price of June CL is below $12.50. Current Interactive Broker's margin is $12,500 per contract. I believe other broker's margin requirements are much lower.

 

[tiddlywinks]

So the margin required to trade June Crude has been more than the actual value of the contract at times during the session..never seen this..

This is stated on the AMP margins page...

"Due to certain anomalies affecting Crude Oil Futures, trading has been set to Liquidating Trades Only. Any positions in Crude Oil, both long and short, are subject to liquidation."

https://www.ampfutures.com/trading-info/margins/

 

[syswizard]

Any positions in Crude Oil, both long and short, are subject to liquidation."

I believe ThinkorSwim has also prevented trading in CL futures.

 

[vanzandt]

I care if I can understand it or put it to use. How do you interpret this information?

There's an old adage that's been around as long as I can remember. Art Cashin on CNBC used to say it a lot.

"Volume is validity".

(where's he been btw... I hope he's ok. I like that old cat, he was always worth listening to)

Oh lol... he had another great one too. Friggin' B1 should write this one down and stick it on his monitor:

"Being right too soon is the same as being wrong."

 

[NQurious]

This is looking like a nice call NQurious.!

For my next trick I am looking to cover my runners at 2834

 

[speedo]

There's an old adage that's been around as long as I can remember. Art Cashin on CNBC used to say it a lot.

"Volume is validity".

(where's he been btw... I hope he's ok. I like that old cat, he was always worth listening to)

Oh lol... he had another great one too. Friggin' B1 should write this one down and stick it on his monitor:

"Being right too soon is the same as being wrong."

Art is not only as savvy as they come but he's funny as hell

 

[IB_Dude]

Not even 2 hours into the trading session, both ES and MES are running 60% plus the volume of yesterday. This is true for both RTH and 24hr charts.

If anyone here cares.

Yea, I noticed that. It's kinda telling