Go futures go!

Here is a 60 minute chart of esz06. First the spike up to 1398, then selling them down when you are sleeping. What I like is the blowout this morning down to 1370 (8:30 am). Classic stuff, the powers that be taking out the high and low stops. I am guessing at or above 1386 for today. 60 minute Average True Range 3.5 to 4. Tight stops are gonna hurt here!! :mad:

By the way Rick Santelli talked about
this spike today, duly noted. He cracks me up!!
 

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Quote from S2007S:

I forgot to add..

GOOG worth $145,000,000,000..

IT'S A f$%KING SEARCH ENGINE PEOPLE!!!!
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dude, get real. A bank is just a paper shuffler.

you graduate yet?
 
geezus...24 pt spike.

To quote from and slightly alter movie dialog:

"People go broke in the market every day, Delorus. As a matter of fact there is someone going broke this very moment."

Oh, and Delorus, we do have an election coming up, and our buddy Paulsen is the Treasury Secretary.
 
Quote from 5Pillars:

News Release about S&P globex orders last night*****

It says Franz Shoar was actually short 15,000 contracts in a multi-week SHORT scale in..........they finally covered him on a margin call last night, so it looks as if his trading accounts were real!!! :eek:
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"were" being a key phrase in that post. OUCH!
 
Quote from stock777:

dude, get real. A bank is just a paper shuffler.

you graduate yet?
More...

Hell at least they shuffle papers; what do we as traders do? Shuffle money from one side of the ledger to the other and hope the imbalance is in our favor. :cool:
 
Merc says buy orders caused spikes

(Reuters) — The Chicago Mercantile Exchange said on Monday an unusual spike in several stock index futures contracts on its overnight Globex trading platform was the result of legitimate buy orders and not trading errors.

Trading sources said U.S. futures reversed course toward the open on Monday and turned lower on a technical reversal of apparently errant trades made Sunday night.

"The December Standard & Poor's 500 futures, the E-mini S&P futures, the E-mini Russell futures and the E-mini Nasdaq futures all had big moves in overnight trading due to buy orders," said CME spokeswoman Mary Haffenberg.

"There were no errors and no trades were busted. These trades were good and stand," she said.


Related Article Topics | Related Industry News
The spokeswoman noted the big moves in these contracts occurred right after 5:30 p.m. Chicago time on Sunday.

One S&P futures trader noticed just before the Asian market opened near 5:30 p.m. Chicago time on Sunday that the S&P market took off and went up to 1,399 and 1,398 in the mini S&P futures.

"CME left all trades as is," he said. "Normally you would not see an aberration in one market spilling into the other markets in overnight trade. But because there are computer generated programs tied to spreads or arbitrage between futures and E-minis or between the futures indexes, the markets would experience the same blip."

The mini contracts are a smaller electronic version of the standard futures contracts. For example, the S&P E-mini contracts are one-fifth the size of the standard S&P 500 futures. Both futures contracts are based on the Standard & Poor's 500 index.

Mini stock contracts have seen explosive growth in recent years as day traders, individual investors and institutions are attracted to their liquidity.

Average trading volume of mini S&P futures is more than 1 million contracts a day. By contrast, S&P 500 futures contracts trade about 60,000 contracts a day. Year-to-date S&P mini volume was up 24%.

http://www.chicagobusiness.com/cgi-bin/news.pl?id=22549
 
Quote from 5Pillars:

News Release about S&P globex orders last night*****

It says Franz Shoar was actually short 15,000 contracts in a multi-week SHORT scale in..........they finally covered him on a margin call last night, so it looks as if his trading accounts were real!!! :eek:
More...

ROTFLOL. I needed a good laugh.
 
Quote from S2007S:

I forgot to add..

GOOG worth $145,000,000,000..

IT'S A f$%KING SEARCH ENGINE PEOPLE!!!!
More...

Of course it is not worth this much. When the bear comes, it will be one of the first to correct itself. One thing was sure though, do not try to pick a top.
 
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