ES Journal Archive (2006 - 2008)
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Quote from Trendytrader:
Do you guys believe that someone (PPT) was holding up the futures on Tuesday morning?
This is shown in the S&P futures chart above -- as compelling a picture as you will ever see of what traders refer to as âstrong hands.â This is not the buying of mere institutional traders second-guessing each other so as to produce a raggedy series of lows. Rather, it is a buyer whose 1255.50 bid was set in concrete, fearlessly oblivious to the selling panics that had overwhelmed the worldâs bourses for two consecutive days. The bid held for long enough to exhaust sellers, as it doubtless was intended to do, causing the major averages to rally back to unchanged on the strength of the massive short-covering that followed.
http://news.goldseek.com/RickAckerman/1201071660.php
And it probably didn't hurt that the ES was limit down at 1255.50 and wasn't allowed to go lower overnight no matter what since you couldn't trade it below that level. I'm not sure that I would be comfortable following Rick's advice if he didn't know the ES was limit down and was giving credit to the PPT for holding it up.
yes.. they will bid them up.. and if data indicated stimulative effects are working themselves in... market rallies... even more..
but if data holds that stimulative effects are having no effect,...then a major crash.
Quote from Trendytrader:
Do you guys believe that someone (PPT) was holding up the futures on Tuesday morning?
This is shown in the S&P futures chart above -- as compelling a picture as you will ever see of what traders refer to as âstrong hands.â This is not the buying of mere institutional traders second-guessing each other so as to produce a raggedy series of lows. Rather, it is a buyer whose 1255.50 bid was set in concrete, fearlessly oblivious to the selling panics that had overwhelmed the worldâs bourses for two consecutive days. The bid held for long enough to exhaust sellers, as it doubtless was intended to do, causing the major averages to rally back to unchanged on the strength of the massive short-covering that followed.
http://news.goldseek.com/RickAckerman/1201071660.php
How do you control risk on a long position when it is limit down ?
Had we made it limit down til the cash open ES cold have opened down another 50+ handles once the 10% limit went into effect.
And I thought this was a free market!!!!
Quote from Trendytrader:
Do you guys believe that someone (PPT) was holding up the futures on Tuesday morning?
This is shown in the S&P futures chart above -- as compelling a picture as you will ever see of what traders refer to as âstrong hands.â This is not the buying of mere institutional traders second-guessing each other so as to produce a raggedy series of lows. Rather, it is a buyer whose 1255.50 bid was set in concrete, fearlessly oblivious to the selling panics that had overwhelmed the worldâs bourses for two consecutive days. The bid held for long enough to exhaust sellers, as it doubtless was intended to do, causing the major averages to rally back to unchanged on the strength of the massive short-covering that followed.
http://news.goldseek.com/RickAckerman/1201071660.php
No. One part of "PPT" was me búying 150 lots at limit down....
I can't believe someone would not know that we were limit down at 1255.50 and thought someone was buying it, a sucker born everyday.
What is interesting is there is currently an almost infinite buyer at 1343 right now. Look at time and sales, a lot of contracts have traded there and the bid has not broken for a couple hours.
What is interesting is there is currently an almost infinite buyer at 1343 right now. Look at time and sales, a lot of contracts have traded there and the bid has not broken for a couple hours.
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