ES Journal Archive (2009 - 2010)

Decel · May 29, 2009

Wow, am I the only getting raped?

Unreal.

Sold 912.50 pre-market with a bid @ 902.50. Things got jittery so just in case I placed a stop @ 911.50 when it was in the 908 region.

Guess what, market pops and takes me out before crumbling.

Then I let the day run without much action, but had placed a sell stop @ 912 since 10am ... and forgot all about it.

Check back occasionally (dead boring market), nothing special. Then comes 4pm and I'm negative 15pts :mad:

, excluding that NQ short I was holding since forever.

Still short 1 ES and 1 NQ

Conclusion? I'm the last sheep in this market and they're asking me to shut off the lights...

ammo · May 29, 2009

http://online.wsj.com/mdc/public/page/2_3022-mflppg-moneyflow.html?mod=mdc_leader fed days, triple witch exp,unemployment #s, GDP, and end of quarter months...not days to go fishing with a position on., Look at the buy/sell ratios in the right hand column, i think your safe with that short Decel, look at the heading on that page, SELLING INTO STRENGTH

ammo · May 29, 2009

http://www2.barchart.com/momentum.asp bottom of page there are the 20/50/100/150/200 day moving avgs, anything over 70% is overbought/ under 30% oversold

Anna K. · May 29, 2009

Quote from Lawrence Chan:

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.

why wouldn't the fund want to unload orderly throughout the day? Why would they wait till last 5 min of trading?

414maple · May 29, 2009

Looks like forced liquidation of a short position into the close. JPM bought 1,000 of the big contract at the ask. Don't think their client was Pequot, as that liquidation would be more orderly over a longer time period.

Decel · May 30, 2009

Quote from ammo:

http://online.wsj.com/mdc/public/page/2_3022-mflppg-moneyflow.html?mod=mdc_leader fed days, triple witch exp,unemployment #s, GDP, and end of quarter months...not days to go fishing with a position on., Look at the buy/sell ratios in the right hand column, i think your safe with that short Decel, look at the heading on that page, SELLING INTO STRENGTH

Yeah, still learning the "watch out!" days. And I did monitor the activity -or lack of it-, just at intervals. I did see a scenario where the ES would go hit 915 or so, but not flirting with 930...

maltatrader · May 30, 2009

I curently use the $tick index in my trading with some success, I currently get the index through tradestation but I will shortly start trading live through CQG trader and would have to pay tradestation over $200 a month to lease their platform.

Seeing as how I really only need it to access the $tick I was wondering if anyone knows a cheaper platform that offers live access to $tick. The only other thing I need is live data for the e mini S&P.

Lawrence Chan · May 30, 2009

Quote from ammo:

http://online.wsj.com/mdc/public/page/2_3022-mflppg-moneyflow.html?mod=mdc_leader fed days, triple witch exp,unemployment #s, GDP, and end of quarter months...not days to go fishing with a position on., Look at the buy/sell ratios in the right hand column, i think your safe with that short Decel, look at the heading on that page, SELLING INTO STRENGTH

As I mentioned, distribution has started for about a week or so already.

Distribution alone does not take a mkt down.

After distribution, with event shocks (i.e. outside normal expectation), mkt gets dumped.

Lawrence Chan · May 30, 2009

Quote from Anna K.:

why wouldn't the fund want to unload orderly throughout the day? Why would they wait till last 5 min of trading?

If it is a small fund in the scale of 1000 lots, it is usually done in the last trading hour of the month so that the positions are mark as close to the close of the month as possible.

saliva · May 30, 2009

Quote from maltatrader:

I curently use the $tick index in my trading with some success, I currently get the index through tradestation but I will shortly start trading live through CQG trader and would have to pay tradestation over $200 a month to lease their platform.

Seeing as how I really only need it to access the $tick I was wondering if anyone knows a cheaper platform that offers live access to $tick. The only other thing I need is live data for the e mini S&P.

Who is ure broker? I believe most brokers provide basic market internals, such as $VIX, $TICK, $TRIN, etc. I know that Thinkorswim and Interactive Brokers do. I suggest you ask your broker before wasting your precious money.