The Super Terrific Happy Hour

[Max E.]

Hell of a day volume-wise on the futures side. Where were all these peeps last week?

They were probably all trading while i was putting in new flooring on thursday, best day in the market for months, lol.

Was the volume really that big on the ES today? Admittedly i was playing catchup, so i was just trying to figure charts out again once i woke up, but it seemed like all the volume in individual stocks was miniscule at best. Plus it was an FOMC day, and the market stayed in like a 5 point range right after the meeting.

Btw Overnight thx for all the valuable insight on this thread as well, the more opinions we have the better, you have added alot of valuable commentary, just wanted to say thx dude!. please keep posting your thoughts!

 

[Overnight]

...
Was the volume really that big on the ES today? Admittedly i was playing catchup, so i was just trying to figure charts out again once i woke up, but it seemed like all the volume in individual stocks was miniscule at best...

Volume was up across the board today. I logged off at about 1PM ET. By that time, Aug CL was close to 1 million, Sep ES was about 800K(?) . Aug GC was 350K or so. NQ was about 300K also(?). That is about as far as I can recall in the volume department.

Yes, today was a heavy volume day. Ranges were good. I suspect that volumes will be less than that now, until next Monday. (Except energies, due to the delayed reports this week).

 

[Max E.]

Volume was up across the board today. I logged off at about 1PM ET. By that time, Aug CL was close to 1 million, Sep ES was about 800K(?) . Aug GC was 350K or so. NQ was about 300K also(?). That is about as far as I can recall in the volume department.

Yes, today was a heavy volume day. Ranges were good. I suspect that volumes will be less than that now, until next Monday. (Except energies, due to the delayed reports this week).

Hmmmmmm, this is something where we arent seeing eye to eye, and this is where i appreciate having guys like you weighing in, but here is what is was looking at on the ES, we barely cracked mondays volume, where it was a half day, and there was an FOMC meeting today, if you look at the TAB-FANG index i saw no volume, so i just didnt see it today, maybe i got to pay more attention to NQ, but i like the ES i like trading what im familiar with, but there definitely wasnt volume on the ES today it was barely higher than a half day on monday.

Dont take this as an insult, take it as a debate, i love to see things from other peoples perspectivres cause clearly i missed it today, but i was hungover as shit.

I couldnt believe the ES stayed in a 5 point range after FOMC meeting, that to me is a sure sign of low volume summer trading.

 

[Overnight]

*sighs* ES volume was fairly high today. But high volume makes a range not. My point was just about volumes. No worries man.

 

[Overnight]

Oh, Max, by the way, I do not "take it as an insult". Far from it. We just have different metrics and shit. But I CAN tell you that CL was off the charts today. The equity indicies were also through the roof, COMPARATIVELY. Remember, everything is relative. Dude.

 

[Max E.]

*sighs* ES volume was fairly high today. But high volume makes a range not. My point was just about volumes. No worries man.

Yeah but look at the volumes, on the chart i marked above, i clearly marked the volume, there was no volume there, it was below average, and it was an FOMC day, look at the line.

 

[Max E.]

Oh, Max, by the way, I do not "take it as an insult". Far from it. We just have different metrics and shit. But I CAN tell you that CL was off the charts today. The equity indicies were also through the roof, COMPARATIVELY. Remember, everything is relative. Dude.

Yeah im watching oil reaL CLOSE right now.

 

[Overnight]

Yeah but look at the volumes, on the chart i marked above, i clearly marked the volume, there was no volume there, it was below average, and it was an FOMC day, look at the line.

We can revisit this issue at another time. My trading PC has been shut down since about 1 PM ET, so I cannot see what I saw earlier. Tomorrow we can check the CME stats on volume. But alas, volume alone will not make us better traders. My whole bit was just about how I felt that volumes were up across the board.

I do not look at just the ES. I realize that the ES is "expected" to have 1 mil+ in volume each day. But it does not always happen. When I saw ES volume at about 800K at 11AM ET I got excited for it.

:-(

 

[Max E.]

We can revisit this issue at another time. My trading PC has been shut down since about 1 PM ET, so I cannot see what I saw earlier. Tomorrow we can check the CME stats on volume. But alas, volume alone will not make us better traders. My whole bit was just about how I felt that volumes were up across the board.

I do not look at just the ES. I realize that the ES is "expected" to have 1 mil+ in volume each day. But it does not always happen. When I saw ES volume at about 800K at 11AM ET I got excited for it.

:-(

Yeah i mostly only trade ES for a market index, or else shorting the leveraged VIX (TVIX or UVXY) i just like trading what im familiar with but i pay close attention to all the underlying variables that make the market, mostly i like trading individual stocks but i trade different things bases on what the market gives you, but with that said:

The Market is giving off conflicting signals right now though thats why im cautious.

NQ wants to break down, ES seems to want to go up, GLD is either going to tank, or it will hold the bottom, and wants to go up, and OIL wants to go down, so i dont know what to make of it, thats why im waiting for a a better opportunity, it doesnt seem like there is a definitive pattern with the overall structure of the market.

 

[Max E.]

Like if the dollar was going up, while oil cracked, and GLD and both the indexes went down that would make more sense to me, but it seems like sector rotation right now and i cant figure out whats going to be hot next right now.