Quote from bsparkyman:
You quoted cbot rules, globex is cme. Both of you need to know what you are talking about. There are market makers designated or not on every exchange, they are locals on the floor (and now off) and they provide liquidity. They play it neutral when providing liquidity but they always take a side. Have you ever seen a big bid/offer begging to take it to the number just to be lifted and sending the market on a free fall or rally? That is your market maker/local at work. They have the juice to run the stops and take a positiion to fade the move they just started, always knowing that the retail player will fall into their trap. They don't manage the inventory like the specialist or set the price but they can and do affect the actions of the participants. They are the house, odds are in their favor, be on their side. It is that easy.
