Ugly looking Tape on YM today

flipflopper · Dec 9, 2008

I better hang it up now before I get into trouble.

Can't get a read the market today which is a rarity.

pinthestrike · Dec 9, 2008

Pardon, but how do your read the tape on the futures? I thought reading the tape was a euphemism for market internals.

flipflopper · Dec 9, 2008

Quote from pinthestrike:

Pardon, but how do your read the tape on the futures? I thought reading the tape was a euphemism for market internals.

I actually watch the trades go through on a Market Depth DOM Ladder. It usually gives me a nice edge... but not today.

Too much chop no follow through. Not my type of market.

MrDODGE · Dec 9, 2008

Futures volume has been low today and there is no clear trend

JonathanMtl · Dec 9, 2008

Descending triangle, we're going down soon.

mister_doodi · Dec 9, 2008

A body continues to maintain its state of rest or of uniform motion unless acted upon by an external unbalanced force.

flipflopper · Dec 9, 2008

Quote from JonathanMtl:

Descending triangle, we're going down soon.

Good call.

Pekelo · Dec 9, 2008

Quote from flipflopper:

Can't get a read the market today which is a rarity.

It is called sideways consolidation after a rally. Quite usual...

flipflopper · Dec 9, 2008

Quote from flipflopper:

Good call.

Damn... that's what I'm talking about right it when it starts breaking down bamn a 50 point pop out if thin air in 5 minutes!!

MrDODGE · Dec 9, 2008

If the outlook is so positive why is the market pricing in a fed funds cut TO .25% for the december meeting?