Today I couldn't help getting the felling....

B

bsparkyman

Today was crazy for the ym, es trader and it spilled over to the markets. With a three day weekend coming up all the big players were piling out by noon, you could tell by volume drying up. When it became appearent the ecbot was going down and the es could put on the squeeze the move started. Just did not know which way to take it, finally broke out to the upside right before th ecbot came back up. Everyone who covered or went long pushed it up, past the close on the cash. Today was a great day for the very experinced trader.

I can't wait to see the es and ym both trade on globex after the merger.
 
I know you can decipher my spelling! If you can't decipher my messssaggue you haven't bean aruond boy! The market leaves clues.

Where were you when congress was balking at raising the budget deficit in 95 (Oct or Nov I belive) and the spooz collapsed in the blink of an eye while Willy Bill C took to the cnbc to shut down the fed govt for a few days. (of course once they raised the budget deficit ceiling all the govt workers got paid for taking a few days off.) And I made a handsome profit shorting in the 500's i believe.

Do you remember the OJ verdict when the whole market stopped trading, then the locals ran the stops up and down to take out all the idiots watching the verdict?

Or do you remember when the spooz were knocking arond 666 in may of 96 if I remember correctly. Trader's treated that number like satan himself. Traded off that number for a couple of days.

Were you on the floor the first friday in March of 06, employment numbers came out, blew away the forecast. I was. Bonds were locked down limit and the spooz hit the circuit breakers that day. Was a buyer off the breaker. Sell 1, buy 2 off the breaker, that's how you know there are buyer to take it up the next day.

See, I have a mind like an iron trap, if you stick to your indicators and patterns like a zombie you are missing some of the top 10% paydays. I could go on giving you lessons about days like this but you are like my 11th grade english teacher and probally have never made more money over your whole trading career than he does every month in retirement.

Good trading to you!!!!
 
Back in the days when we actually hit circuit breakers you could test the waters while everone else stood around with their hands in their pockets covering their hand. Let's say you are locked down limit and there is no bids, you are flat, offer to sell one (or any multiple of it), If it is hit hard you know the locals are buying to get position for a bounce. If the sentiment is for a resumption of a downward move you would not be hit. Now offer to buy two at the market to close out your short and get long for the bounce, used to be good for a several handles with the only risk being the abyss!

Rule #32, there are always sellers at any level in any market, there is always a whore in the room, as we say in retail. Buyers, (bids) dissappear faster than sellers (offers) even in a rally. That's why the market always falls faster than it climbs.
 
Quote from bsparkyman:

Back in the days when we actually hit circuit breakers you could test the waters while everone else stood around with their hands in their pockets covering their hand. Let's say you are locked down limit and there is no bids, you are flat, offer to sell one (or any multiple of it), If it is hit hard you know the locals are buying to get position for a bounce. If the sentiment is for a resumption of a downward move you would not be hit. Now offer to buy two at the market to close out your short and get long for the bounce, used to be good for a several handles with the only risk being the abyss!

Rule #32, there are always sellers at any level in any market, there is always a whore in the room, as we say in retail. Buyers, (bids) dissappear faster than sellers (offers) even in a rally. That's why the market always falls faster than it climbs.
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Interesting info. Thanks.
 
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