No Reason To Participate in This Crap

tradingjournals · Dec 21, 2012

Quote from Maverick74:

Murray, we finally get an uptick in vol and you go running? Dude, the VIX can't stay at 3 forever.

Who is Murray?

ammo · Dec 21, 2012

Quote from iceman1:

We can point fingers all we want and say one-side has it right and the other side is 100% wrong,

In my view the right-wing, religious nut-job Republicans are causing this problem.

Good luck to the gambler geniuses I am going to start closing positions, and wait until we have some semblance of stability.

contradicted yourself there, you took a gamble when you picked a side,neither dems nor reps are on your side,it is a gamble and the public is running away from investing in droves,the banks are now scalping in 30 -40 pt es swings,you could trade less often and spend most of the time watching ,waiting,til this crap is settled

Lucrum · Dec 21, 2012

Quote from iceman1:

How many different "the markets are crap" threads are you going to start?

No wonder you're so angry all the time, you're getting your clock cleaned.

dealmaker · Dec 21, 2012

Quote from iceman1:

The financial markets are becoming a joke due to lack of real leadership in so many places. I can't believe that a bunch of clowns end up in Washington and cannot fking negotiate a way to make the US stronger. We can point fingers all we want and say one-side has it right and the other side is 100% wrong, but we will all go down with the ship in the end unless some intelligence is brought to the table and egos are put aside in the interest of better decision making for a longer term. There is never one answer or solution and most often there are valid points or view or positions on both sides.

In my view the right-wing, religious nut-job Republicans are causing this problem. They continue to refuse to budge on any issue that is not in 100% agreement with their liking. An example of this horsesh-t is the agreement these pricks sign saying they will never ever raise taxes. As far as I am concerned these recalcitrant lowlifes right-wing zealots should be indicted for treason. Same for those on the extreme left.

For me these markets present too much continual overnight risk and its ain't fun even though I have a lot of short positions in SPY and some equities right now by "luck" and will maybe do OK on this b.s. sell-off... if it is sustained. However I have am too long AAPl once again overnight and closed out MNX options position {rolled into higher strikes rather than the same strikes for January} thus the front month will now settle significantly below where I exited at the close yesterday. Feels like throwing $ down the toilet when the best trade on my short Dec calls was to do nothing. However my bias was we would be higher today in front of Xmas week. So far, not looking like that. Maybe I need to retain a psychic, because in hindsight we have a bunch of geniuses on ET. Anyone want to join me and split the cost?

Good luck to the gambler geniuses here who can "trade" this crap and make any "sense" out of it. Had there been a deal or close to it this week we would now be exploding higher, even with triple witch vola. How do you handicap that so as to have some + expectancy? If you are able to you have my admiration.

I am often so hedged that no matter which way I make 1/10th of what I would in a market I could trust with more exposure. Times are too uncertain to be trading this crap. We need to stabilize the markets and get the retail market/public back in the game. Hedge funds are getting whipsawed weekly and grossly under-performing the S& P from what I read. Is anyone getting it right enough to make the trading risk reasonable, not to mention consistently profitable.

Good luck the next 4-5 days. I am going to start closing positions, and wait until we have some semblance of stability.

Agreed there is no reason to participate eg today at 3:45pm EST, IP had traded about 2.9 million shares and had an imbalance of 433,800 if my math is correct that is about 15% imbalance, in 2007 this would have crashed the market, today IP only moved down 14 cents and at 4:00pm, 195k imbalance remained i.e. specialist (market maker) absorbed. Given the fiscal cliff, the weekend, shortened trading on Monday why would specialist (market maker) absorb the 195k shares instead of letting the market run?

trade_canada · Dec 21, 2012

I'm not going to contribute anything productive but just wanted to say that it always goes right over my head when someone refers to a market as 'crap' (or any other variety of synonyms). As far as I know the markets don't have to do anything but match buyers and sellers, which it does pretty well. They're not 'crap', you (and a lot of other traders) just can't draw a meaningful conclusion (right now) from the data you're looking at.

the1 · Dec 21, 2012

Why so disgruntled? Situations like this provide for pretty good trading, imo. It's the absence of news that leads to a dead, narrow range, barely tradeable market. Today was great! Who cares what's happening in DC. Just trade what the market gives you.

Quote from iceman1:

The financial markets are becoming a joke due to lack of real leadership in so many places. I can't believe that a bunch of clowns end up in Washington and cannot fking negotiate a way to make the US stronger. We can point fingers all we want and say one-side has it right and the other side is 100% wrong, but we will all go down with the ship in the end unless some intelligence is brought to the table and egos are put aside in the interest of better decision making for a longer term. There is never one answer or solution and most often there are valid points or view or positions on both sides.

In my view the right-wing, religious nut-job Republicans are causing this problem. They continue to refuse to budge on any issue that is not in 100% agreement with their liking. An example of this horsesh-t is the agreement these pricks sign saying they will never ever raise taxes. As far as I am concerned these recalcitrant lowlifes right-wing zealots should be indicted for treason. Same for those on the extreme left.

For me these markets present too much continual overnight risk and its ain't fun even though I have a lot of short positions in SPY and some equities right now by "luck" and will maybe do OK on this b.s. sell-off... if it is sustained. However I have am too long AAPl once again overnight and closed out MNX options position {rolled into higher strikes rather than the same strikes for January} thus the front month will now settle significantly below where I exited at the close yesterday. Feels like throwing $ down the toilet when the best trade on my short Dec calls was to do nothing. However my bias was we would be higher today in front of Xmas week. So far, not looking like that. Maybe I need to retain a psychic, because in hindsight we have a bunch of geniuses on ET. Anyone want to join me and split the cost?

Good luck to the gambler geniuses here who can "trade" this crap and make any "sense" out of it. Had there been a deal or close to it this week we would now be exploding higher, even with triple witch vola. How do you handicap that so as to have some + expectancy? If you are able to you have my admiration.

I am often so hedged that no matter which way I make 1/10th of what I would in a market I could trust with more exposure. Times are too uncertain to be trading this crap. We need to stabilize the markets and get the retail market/public back in the game. Hedge funds are getting whipsawed weekly and grossly under-performing the S& P from what I read. Is anyone getting it right enough to make the trading risk reasonable, not to mention consistently profitable.

Good luck the next 4-5 days. I am going to start closing positions, and wait until we have some semblance of stability.

tradingjournals · Dec 21, 2012

Quote from dealmaker:

Agreed there is no reason to participate eg today at 3:45pm EST, IP had traded about 2.9 million shares and had an imbalance of 433,800 if my math is correct that is about 15% imbalance, in 2007 this would have crashed the market, today IP only moved down 14 cents and at 4:00pm, 195k imbalance remained i.e. specialist (market maker) absorbed. Given the fiscal cliff, the weekend, shortened trading on Monday why would specialist (market maker) absorb the 195k shares instead of letting the market run?

What is your point/conclusion and why? I assume you are not the specialist.

halfwaythere · Dec 21, 2012

Quote from trade_canada:

I'm not going to contribute anything productive but just wanted to say that it always goes right over my head when someone refers to a market as 'crap' (or any other variety of synonyms). As far as I know the markets don't have to do anything but match buyers and sellers, which it does pretty well. They're not 'crap', you (and a lot of other traders) just can't draw a meaningful conclusion (right now) from the data you're looking at.

Bingo.

Lucrum · Dec 21, 2012

Quote from iceman1:

...In my view the right-wing, religious nut-job Republicans are causing this problem...

LOL

Really?

You ever thought that maybe YOU alone own your trading performance?

dealmaker · Dec 21, 2012

Quote from tradingjournals:

What is your point/conclusion and why? I assume you are not the specialist.

"Agreed there is no reason to participate" is my point. In days like this where market is completely dependent upon news and participation is not wide, its more apt to be manipulated. I am not implying that in IP's case there was manipulation, I am just pointing out that circumtances were questionable. Keep in mind that there was uptick in volume since 12/11.