What's happening after-hours? 3/31

heech · Mar 31, 2011

Strange behavior after hours.

NQ has spiked twice in the last 30 minutes... first time up 10 pts to 2348. Settled back down to 2342, and then again up to 2346. ES moved up a little, but not the same type of spikes.

What's strange is that crude is spiking... big time. And usually that's bearish for equities.

Anyone know if something else is out there right now behind the move? Currencies?

... nothing happening in gold.

pma · Mar 31, 2011

for me too.

BlackBison · Mar 31, 2011

Quote from heech:

What's strange is that crude is spiking... big time. And usually that's bearish for equities.

This has not been true the last few years.. trade what you see not what you think. Sounds to me like you are trying to justify shorting equities.

heech · Mar 31, 2011

Quote from BlackBison:

This has not been true the last few years.. trade what you see not what you think. Sounds to me like you are trying to justify shorting equities.

Uh, no. My trading strategy is completely price agnostic.

I'm talking about the very clear correlation between equities/crude that has existed over the last 6 weeks, as crude spiked above $100. (Not including the earthquake week.)

BlackBison · Mar 31, 2011

Quote from heech:

Uh, no. My trading strategy is completely price agnostic.

I'm talking about the very clear correlation between equities/crude that has existed over the last 6 weeks, as crude spiked above $100. (Not including the earthquake week.)

Ok cool sorry about that- I thought you sounded like another permabear

Personally I don't see much of the correlation you are talking about.

Cdntrader · Mar 31, 2011

Quote from heech:

Strange behavior after hours.

NQ has spiked twice in the last 30 minutes... first time up 10 pts to 2348. Settled back down to 2342, and then again up to 2346. ES moved up a little, but not the same type of spikes.

What's strange is that crude is spiking... big time. And usually that's bearish for equities.

Anyone know if something else is out there right now behind the move? Currencies?

... nothing happening in gold.

"it's a bull market"

rodmike9 · Mar 31, 2011

it's the end of the quarter

Jackie Treehorn · Mar 31, 2011

Lot of strange spikes happening past couple weeks after hours...

Maybe bots jamming a large order through, cascading orders up and peeling there positions off..

Doubt anyone would cause a spike like that by accident getting out of a short position, knowing liquidity is week after hours...

Or get into a large position in that fashion knowing price will move against you..

CET · Mar 31, 2011

Someone probably got their hands on the employment numbers that will be released tomorrow for the U.S.

NoDoji · Mar 31, 2011

Quote from heech:

What's strange is that crude is spiking... big time.

Not too strange. Crude closed almost at its high today and was so close to its last major pivot high high deep into the leg of a technically perfect uptrend, that the high becomes like a magnet for price. 107.08 was a key level for counter-trend traders to place stops. So all it took to trigger the trend-following bots' buy stops and the counter-trend shorts' protective buy stops into market orders was for one trader to hit an offer @ 107.09.