WOW WHAT A DAY!!!!!!!!!!!!!!!!!!! :eek:
Billy in the IOAMT room mentioned this a.m. that in the "S&P pit" his connections there told him to look for 1281 {some June 2001 level ?} for the S&P futures as the push for the day to get price up there as far as possible.
right near the open we were not able to break 1260.75 and the immediate reaction was buying {we had some buy program activity in the s&p futures -- equities buy programs came in a bit later building heavier as the day progressed}. it looked as any chance to cover my 56.50's & 57.50's were a "no go" prior to a new high attempt so i had to cover those positions at a loss at 62.00 and then reverse my 62.50's and 63.50's to the long side {i knew if we came down to break 1260.75 with volume then i would have made the wrong choice}.
at 71.50 i reversed to the short side 1/2 of my long position and then down at 70.50 i reversed the second half --- so now i am short again with a cost basis of 1271.00.
i had a loss at the 1262.00 covers for the 56.50's & 57.50's { - 5.50 points and - 4.50 points} . the 52.50's and 53.50's had a small gain at the reversal point of 1262 {+ .50 points and + 1.50 points} and then had additional gains up to the reversal back to short at 71.50 and 70.50 {+9.50 points and 8.50 points}.
now i am back to short again after a handful of work today, but at least {extremely thankful to Billy} with some very small gains --- just enough to buy a turkey for Thanks Giving!
i will not be able to trade friday so i will be back at this monday --- i will have to give my thanks to Billy this holiday for the great heads up --- his connections were right about the push today {on family day for the pit traders}!!!
Billy in the IOAMT room mentioned this a.m. that in the "S&P pit" his connections there told him to look for 1281 {some June 2001 level ?} for the S&P futures as the push for the day to get price up there as far as possible.
right near the open we were not able to break 1260.75 and the immediate reaction was buying {we had some buy program activity in the s&p futures -- equities buy programs came in a bit later building heavier as the day progressed}. it looked as any chance to cover my 56.50's & 57.50's were a "no go" prior to a new high attempt so i had to cover those positions at a loss at 62.00 and then reverse my 62.50's and 63.50's to the long side {i knew if we came down to break 1260.75 with volume then i would have made the wrong choice}.
at 71.50 i reversed to the short side 1/2 of my long position and then down at 70.50 i reversed the second half --- so now i am short again with a cost basis of 1271.00.
i had a loss at the 1262.00 covers for the 56.50's & 57.50's { - 5.50 points and - 4.50 points} . the 52.50's and 53.50's had a small gain at the reversal point of 1262 {+ .50 points and + 1.50 points} and then had additional gains up to the reversal back to short at 71.50 and 70.50 {+9.50 points and 8.50 points}.
now i am back to short again after a handful of work today, but at least {extremely thankful to Billy} with some very small gains --- just enough to buy a turkey for Thanks Giving!
i will not be able to trade friday so i will be back at this monday --- i will have to give my thanks to Billy this holiday for the great heads up --- his connections were right about the push today {on family day for the pit traders}!!!
