Look at Dow and the answer is there - 8500.
Month end option dictated the direction again.
Month end option dictated the direction again.
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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A short explanation.
When there is a mkt order to "clean" the book, say buying 10K contracts. It will take out every single orders parked in the price ladder within, say, a 3 to 5 pt range.
During the process, all the unlocked stop orders are then queued behind the other mkt orders just arriving at the mkt order queue.
So, after the completion of the "cleaning", you have effectively 100K contracts accumulated to buy at market. Someone parked their offers up there waiting - and you know who.
When there is a mkt order to "clean" the book, say buying 10K contracts. It will take out every single orders parked in the price ladder within, say, a 3 to 5 pt range.
During the process, all the unlocked stop orders are then queued behind the other mkt orders just arriving at the mkt order queue.
So, after the completion of the "cleaning", you have effectively 100K contracts accumulated to buy at market. Someone parked their offers up there waiting - and you know who.
So, basically what you're saying is that these assholes intentionally gun the stops and I happened to be the unlucky SOB last in line. Who would have thought it would reverse exactly at 27.75? I wish I had placed the trigger a tick or two lower.
Gawd, I hope they don't gap this baby up to 30 over the weekend.
Gawd, I hope they don't gap this baby up to 30 over the weekend.
Happened to me before thus the details. It was very painful.
No one knows how far the mkt would go once a pile of stops are unlocked.
I expected 24 area (month high gap zone), this was unreal.
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