Edited by NAV, 17 July 2007 - 07:00 AM.
What was the globex low ?
#1
Posted 17 July 2007 - 06:53 AM
#2
Posted 17 July 2007 - 07:32 AM
ES 1555. That was the magnet, i was expecting to be tested in the day session yesterday, which i noted in my post. I was wondering how the bastages missed that magent. But they did it again, while the world was sleeping.
Whenever the market wants to rally, especially when an important news item is pending, watch the pre-market globex session. They quietly push the ES 4-6 points down and then get the market back to the level where they closed the prior session. Now they already have 4-5 points in their pocket. If the PPI is favourable, then gap-up another 5 points and they have 10 points in their pocket even before the market opens. If the news is bad, all they have to do is a stop themselves out breakeven + 1 or 2 points. Watta game ?
Guess what, i thought i will join the criminals this time and had placed a limit order at ES 1555. I did not get filled. Should have placed a MIT order. I am pissed
Ever feel like they are gunning for you? It's not paranoia, they ARE.
I am personally confident that there's someone out there targetting our stops when they can. I've lifted them during the first 30 as a result and to good effect. They seem to be able to get them during thinner trading. Like GLOBEX and early action in individual issues.
You can think like a criminal, but remember the real one's are still gunning for you!
Mark
...and I'm not laughing at you, but sharing the annoyance and shrugging it off.
Mark S Young
Wall Street Sentiment
Get a free trial here:
http://wallstreetsen...t.com/trial.htm
You can now follow me on twitter
#3
Posted 17 July 2007 - 07:48 AM
Edited by NAV, 17 July 2007 - 07:49 AM.
#4
Posted 17 July 2007 - 07:57 AM
Mark S Young
Wall Street Sentiment
Get a free trial here:
http://wallstreetsen...t.com/trial.htm
You can now follow me on twitter
#5
Posted 17 July 2007 - 08:24 AM
I guess I was trying to say that it's like they're watching what you are doing and make sure you get the short end of the stick. I was relating my other stuff to your situation. Like missing covering a Senticator short at the low by 0.01.
It's like any limit, or stop order is a target (or to be avoided) in a thin market to your (or my) detriment.
Mark
I agree.
#6
Posted 17 July 2007 - 09:12 AM
ES 1555. That was the magnet, i was expecting to be tested in the day session yesterday, which i noted in my post. I was wondering how the bastages missed that magent. But they did it again, while the world was sleeping.
Whenever the market wants to rally, especially when an important news item is pending, watch the pre-market globex session. They quietly push the ES 4-6 points down and then get the market back to the level where they closed the prior session. Now they already have 4-5 points in their pocket. If the PPI is favourable, then gap-up another 5 points and they have 10 points in their pocket even before the market opens. If the news is bad, all they have to do is a stop themselves out breakeven + 1 or 2 points. Watta game ?
Guess what, i thought i will join the criminals this time and had placed a limit order at ES 1555. I did not get filled. Should have placed a MIT order. I am pissed
Past couple months my best trades have been in the overnight session using my price projections model for targets. This week I am placing a sell limit order just above 1570 looking for the cash index to drop into the 1520s the following week. Asia gets involved at 02:15 and Europe at 03:00. They usually move the ES futures 3-6 points.
LT
LT