ES Journal Archive (2011)

[mastacoli71]

Quote from mastacoli71:

As good as this trade looks right now, something is going on in futures market bigger then you or me or anyone on this board. Believe me, I am short but very light from this level.

Good luck man, it is going to be harry imo.

It was wierd, I got filled on 1250 weekly call at 10 when it was printing 1251.5. Market traded off 2 pts and the bid went to 11. Something is up. I'm sure there are a lot of stops above 1255.

 

[mastacoli71]

Quote from mastacoli71:

It was wierd, I got filled on 1250 weekly call at 10 when it was printing 1251.5. Market traded off 2 pts and the bid went to 11. Something is up. I'm sure there are a lot of stops above 1255.

Oh, and EurUsd off it's current highs. Hopefully we don't start getting disconnect between it and the market.

 

[mastacoli71]

Quote from mastacoli71:

That is not true. Banks did not accept the haircut. The level has been set. Now it is up to the banks to voluntarily accept it.

I stand corrected. Interview with Sarkozy states that the investors have accepted the 50% haircut. You can find it on bloomberg.com.

Can't believe they rolled over just like that. Maybe Greece will come back 2 months later and require a 75% haircut, then 100%.

 

[macho grande]

Quote from macho grande:

i'm covering my shorts @ 26, and BUYING! on confirmation

covered all@ 26.75

 

[macho grande]

Quote from GordonTheGekko:

Noob. It's not about being right, it's about protecting against what you don't know will happen. There is nothing preventing another flash crash, for example, if you get caught in an S&P 200 point slump and sell, all of your 'perfectly predicted' gains will be gone! Trading is easy; don't confuse difficulty for the reasons to have stop losses.

i'll take it under advisement.

thanks

 

[mastacoli71]

Quote from macho grande:

covered all@ 26.75

Nicely done macho grande.

 

[ammo]

Quote from ammo:

sh 49 target 42,3 pt stop thnx pic/josh add 51

add 53 stop 20 pts add 54.25

 

[ammo]

Quote from macho grande:

covered all@ 26.75

is this print about 10 hrs late

 

[gmst]

Quote from Picaso:

This says we're gonna break (up)

IF THEN 45ish

Hello Picaso, basic question. I see ask size is almost 1.8x of bid size. Doesn't it mean that there are many more limit sell orders in the queue compared to limit buy orders in the queue. Doesn't it mean that price will go down ??

Thanks for explaining.

 

[cashcarewins]

Quote from gmst:

Hello Picaso, basic question. I see ask size is almost 1.8x of bid size. Doesn't it mean that there are many more limit sell orders in the queue compared to limit buy orders in the queue. Doesn't it mean that price will go down ??

Thanks for explaining.

Market depth can be very deceiving, I disabled it. Linda Raschke teaches that quantity attracts trades - and she's a 'Market Wizard'. After hundreds of hours of observation, I would say there is a slight tendency that way. So if there are more ask limit orders, price should move up to that level, i.e. that is bullish, very slightly.

I notice a lot of the big traders put in orders all over the place than 'cancel if touched'. I also understand that many bigger traders don't put any orders in until they are ready to be executed, that's why you sometimes see 1000's of contracts traded at a price when the market depth was only a few hundred. In either case the market depth is meaningless at best and deceptive if you let it be.

The long and the short of it is, there are more relevant things to worry about than the bid and ask size, at least in the emini's.