Kiddies, just in case you don't believe that the markets are maliciously manipulated during the midday doldroms, take a gander at the attachment. Look at the time frame 10:30 to 11:00 PT. At the top right is NQ (my bitch). Underneath her, aggressively poking up, is QM. QM rose ONE DOLLAR. Historically, NQ should have dropped TEN POINTS. Average NQ volume during that time was about 200 cars per minute. The market held the line with a crummy THREE POINT drop. I squeezed out a pissant little NQ scalp. Oil is dead? Don't bet on it! But midday market shenanigans are alive and well.
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Old Possum's Book of Practical Charts
- Thread starter John Merchant
- Start date
Post by cakulev on another thread
We may see some slight inversion of the correlation between stocks and oil.
It looks like stocks are influencing the oil now for a change â that is: stocks down=>weak economy=>less oil consumption=>oil down.
Of course I think this play now minor role, as we are in a earning season. I still think weâll
see new low as some major company fails expectations.
Time will tell, Iâve been wrong too many times.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=45855&perpage=6&pagenumber=11
We may see some slight inversion of the correlation between stocks and oil.
It looks like stocks are influencing the oil now for a change â that is: stocks down=>weak economy=>less oil consumption=>oil down.
Of course I think this play now minor role, as we are in a earning season. I still think weâll
see new low as some major company fails expectations.
Time will tell, Iâve been wrong too many times.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=45855&perpage=6&pagenumber=11
Kowboy. Thanks for your post. From an intraday viewpoint that would be a difficult proposition to prove. Stocks appear to respond to oil in the AM, to be indifferent midday, and to be downright contrary in the afternoon. How one would establish a correlation in those regimes is beyond me. I still believe that oil is used to manipulate the equities markets because it takes 1000 times less capital to do so than trying to move the markets directly. But then I am a Shakespearean idiot.
My misanthropic misbegotten misogynistic miscreant journal has languished of late because I have been making too much money scamming Corporate America to stoop to trading. But I was struck by this daily chart showing that gold is holding its purchasing power nicely. Price of a barrel of sweet light crude (I don't drink anything else!) in USD on top, its price in ounces of gold on the bottom.
Attachments
Beg pardon? Is English your second language?
It is midnight in whatever time zone I am in, I can't sleep, and this cheap shit Oregonian (sounds very Reichian, doesn't it?) champagne I'm drinking just isn't doing the trick, any more than than the fat girl who was just in my room did. So I am sitting here testing new code in slooooooow mo, trading 1 NQ car, and I am wondering, who is the limit order genius I am trading against? Is he or she a night school biz major at City College who is reading Cliff's notes on daytrading, or have they outsourced it and Pradip who is wide awake on the other side of the globe is earnestly trying to jink me out of my pitiful 1 car position? Pradip, you had best be sharp, because I am watching oil! What are you watching? Bollywood reruns?
P.S.: Wolfie, I am only staying up because you haven't written to me tonight. If the trade is good I'll post it. I just love it when bitchy women bust my balls. Mikey's Second Law of Women is "The ones that bust your balls the worst in public are the most passive in bed."
P.S.: Wolfie, I am only staying up because you haven't written to me tonight. If the trade is good I'll post it. I just love it when bitchy women bust my balls. Mikey's Second Law of Women is "The ones that bust your balls the worst in public are the most passive in bed."