ES Journal Archive (2006 - 2008)

[BoyBrutus]

Quote from vulture:



Quote from vulture:



I still say the Oct, 1998 spike was the most lethal I have ever seen...5 minutes after the bond market close, one day before options expiration, in the midst of rumors of LTCM insolvency, Russian devaluation, Asian "contagion", and the market never looked back after that...But that was one crazy final hour, and at that time somewhat unprecendented...That set the stage for so many of these intra-day spikes following that day

Market went up about 5% that day and setup the entire final move higher into 2000.

Just a thought on the suprise rate cut that afternoon (if I'm not mistaken), no bull or bear here

 

[Jayford]

sht 1267

 

[Jayford]

stopped out at BE.

I'm looking for ugliness even with the rate cut.

Whaddya guys think.

 

[Lawrence Chan]

In general, there are a lot of "side bet" in the stock market that works around the round numbers in the indices.

e.g. special over the counter options written by investment banks for their "value clients" to "guarantee" their portfolio of stocks can be unloaded at X amount of dollars if Dow hits 12000.

These "side bets" will trigger massive amount of order flows into the system today, and will cause huge increase in volatility. I can see average 15 min bar range at 12 to 16 ES points today. The usual average is around 4 to 5 points for the past week and going up to 7 pts ocassionally.

So you can be right that the market will retest the overnight low today, but the volatility will shake 90% of the traders out of their positions, be that long or short.

 

[Buy1Sell2]

Hourly and lower are the only bullish charts right now. When the bounce resolves itself, there may possibly be some decent shorting oportunities.

 

[JSSPMK]

Not trading today's RTH, see you all tomorrow Good luck & stay safe.

 

[Buy1Sell2]

Please feel free to put Blackguard on ignore. Everyone is allowed to post here , but we do not condone automatice contradictory "gainsaying". I see nothing to be learned from those types of postings. Good fortune to all!

 

[callmate]

PPT if such thing exists will be at work, everytime ES hits 1255.75, they will lift it IMO

 

[lachie74]

Quote from callmate:

PPT if such thing exists will be at work, everytime ES hits 1255.75, they will lift it IMO

1255 was the limit down point of out of hours trading. This won't apply during RTH.

 

[opt789]

Quote from Buy1Sell2:

Hourly and lower are the only bullish charts right now. When the bounce resolves itself, there may possibly be some decent shorting oportunities.

I was hoping for a nice big bounce to short, oh well you don't always get what you want. The good news for traders is that the volatility will continue.