ES Journal Archive (2009 - 2010)

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Quote from saliva:

Nice chart, but that's just plain bull shit. It usually doesn't work that way.
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You're right, it doesn't.

Nice trading today by the way (that last bit of misfortune notwithstanding).
 
What was that?!

I went long again at 911 and took 3 points profit, and then it shot up another 12 points seconds after!

Unreal.

I took 14 points today. Had a good few days.... still, you must be absolutely killing it paul_alan! You time your 'long only' trades very well. I might open another play account and try to mimick your style. Market is just so powerful!

anyway. Have a nice weekend everyone.
 
Quote from Pekelo:

Beside the dragon's projected 3rd top, the upper BB on the daily is also at 930 cash, so that sounds like a good target for first run up....
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...and we close our object lesson about never figthing a dragon failure with this mini rally in the last hour. :)

Cash closed at almost 920, ES went up to 927, before dropping back....

Thanks for listening! :cool:

P.S.: Hey, another mini-dragon inside the big one!:

2yjtwr7.png


Indicates 1451 as top....
 
where can I get more info??
For now this looks like a robbery.

Quote from Lawrence Chan:

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.
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Quote from Lawrence Chan:

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.
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Does that only happen on the last day of the month, or on any close?

Thanks for the explanation, it's very helpful in risk management!
 
Quote from race horse:

Does that only happen on the last day of the month, or on any close?

Thanks for the explanation, it's very helpful in risk management!
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When the book is thin.

Today since noon there is practically nothing in the book within closest 2 pt range.
 
Quote from oriol88:

where can I get more info??
For now this looks like a robbery.
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The few orders that chose to clean the price ladder may not be all robbery in the making.

Someone could be in the short side decided that it is too risky to stay short, or, due to end of month requirement, some hedge funds do close all positions by month end and reopen the positions next trading day to simplify accounting process.

It is similar to, but not exactly the same, as a melt down day where the final hour usually drops from 1/4 to 1/2 the day range.
 
05-29-09 07:58 AM

(05-21-09 08:38 AM

Quote from Buy1Sell2:

Long 890.50 with 20. Initial stop 773.00



---Staying long here with the same stop. Currently, the market has experienced no reversal signals and has exhibited only consolidation type action prior to a 3 day weekend. I look for the market to pick up with upside action again soon, perhaps as early as today, but I would not be surprised to see it happen next week. Ishmael)
--Staying long here this Fri 5/29. Same stop. I see no reason to sell just yet.
---Staying long here with the 20. Same stop
 
Quote from Lawrence Chan:

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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This kinda action would be understandable on a day of options ex. Had it in fact occurred earlier in the day, I could come to terms with it. But not in the last 5 minutes prior to the close of the spot market and certainly NOT in the subsequent 5 minutes afterward!

Some big A-hole (I need not say whom which should be plain to everyone by now) is totally raping this market.

Well, I have no reason to bitch since I didn't lose anything per se, other than incurring a big fat slippage of 4 points. But, then again, that could easily translate into either a lost profit or a potential loss, no?
 
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