wtf was that at 4pm. huge high vol selling

[trader225]

Quote from 2006:

The last 10 minutes were nasty. Just plain nasty.

This thing can run wild overnight.

No sleep in brooklyn.

Hang in there, 2006. The greatest rewards go to those willing to take the greatest risk.

 

[2006]

I never said I lost money. I was just saying it was nasty.

Actually I'm a litle upset I closed my shorts.

 

[trader225]

LOL. Now I've got 73 contracts!

OK. Now down about 7K after a 10K gain in rth. Still looking good.

 

[notouch]

What's all the excitement? The final 15 minutes volume was about the same today as it has been for past 2 days. Nothing unusual at all. Read nothing into it.

 

[trader225]

Am thinking that if I disgrace myself -- if it falls below 1497.50 -- I may need a new ET nom de plume. But why should I care? What matters what others think?

Anyway, big w00t! someone just paid 1498.25!

 

[2006]

Well I'm looking to get long around 95-96 for a mini pop back above 1500.

I think a few ppl will shit their pants when/if it goes below 97.

 

[frugi]

Possible geometric target around 1496-7?

 

[trader225]

Yeah, I think it -- the SPX -- will try 1500.00 one more time. If not that, then about 1497.50. After that, it may be LOOK OUT BELOW!

I am actually a natural bear, but also a contrarian.

 

[Cy_M]

Quote from atticus:

"Sell" and "buy" contracts? I assume you're referring to 117k hitting the bid and only 74k lifting the offer? Meaningless, but that's a net $2,150,000 per ES handle.

What use is the notional value of the 43,000 contracts? OK, so we trade to zero and those buyers are out $3B.

The Delta represents the $ Value of the Equity that was Hedged........whichin turn can be used as a proxy to depth of concern. In fact compared to the overall size it's still no biggy.
That's how it can be utilized and not insinuating the market might go to Zero :eek:

 

[trader225]

Another way to look at this is that big capital sold futures to hedge a buy in the index. Think about it!