14 replies to this topic

[eminimee]

ES before the FED and wasn't stopped out..... Be honest....anyone have more than a 15 point stop on from the 1549 high before the announcement?? Short term traders of course...not the swing guys... Personally..I was flat during the whole episode....

Edited by Teaparty, 31 October 2007 - 05:34 PM.

[maineman]

I've been long OEX calls (November 730s, 740s mostly, and a few others).... I've been paring back on raliies, sold some more just before the 2:15 announcement on that last hurrah, but still held a few small positions. No futures, though. Added a few more calls on the 100 point swoon, and sold most going into the close. If you follow the options you would have noticed VERY odd pricing behavior... the calls were actually LOSING value as price recovered late this afternoon.... I am an options trader, but I am not an options smartie... (i.e. I don't understand the "greeks")... but something very wierd was/is going on. If someone smarter than me knows what this means, I'm all ears. I'll finish unloading either on any pulse higher tomorrow or any further disconnect. I bought more because?..... I believe there is a bit more juice left in the rally. I think Airedale (and some others) are right that we ain't seen the top and I am still intrigued by that MACD histogram in the 60 min and Daily SPX charts. So I figured the selloff post fed was what we old-timers call "Buying opportunities"... but the options action bugs me... mm

[eminimee]

for a good half hour after the fed ..the weekly oex options had enormous spreads....no way to get in really.

[maineman]

I don't trade the weeklies.... But, as I said, they were wierd. "They" started increasing the spread about 1/2 hours before the FED. Up until then the spread got really tight, then widened just before the FED and then collapsed with the collapse. I've said before, my favorite way of trading options is to work off of fear and greed.... so on a collapse I put VERY low bids (when I think the collapse is due to panic or short term wiggles). If I get filled, great. Then I offer them out high on any "irrationally exuberant" bounce back.... Post Fed today I filled on some of my "fear" bids, but the "greed" offers were slow to materialize.... mm

[Darris]

How about the Bulls who sold the gap up this morning, and then re-bought the gap fill this afternoon. That was good trading, don't you think? Bulls are traders also. No need to have a relentless bullish bias, LOL

[beta]

$GOLDbugs luvvvv the Fed .... Keeping my QID (hedge). It will come in handy, soon enough.

[LarryT]

ES before the FED and wasn't stopped out..... Be honest....anyone have more than a 15 point stop on from the 1549 high before the announcement?? Short term traders of course...not the swing guys...

Personally..I was flat during the whole episode....

Went short at 1547.75 at 12:03 PM. Thought above covering at 10 pts down, looked at the pattern of a 15 min BB and decided no way it gets above 1545 today. Set a stop at 1545.75 just in case as it was getting crazy, stopped out at 2:43.

Try again Thursday near 1560.

[kaiser soze]

I had no position Wed morning but went fully long with QLD and Nov QQQQ options right after the Fed swoon. Got in at about 54.20 on the Qs and rode them to 55.03 and then unloaded everything.

[skunk]

for a good half hour after the fed ..the weekly oex options had enormous spreads....no way to get in really.

The post FOMC trading is such a joke. What the hell happens at exactly 1:15? are nstitutions just waiting to bomb the market with market orders? I would like to know the mechanics of it all. I can't even enter an order. the prices on my screen are moving around so fast by the time I try to position my mouse over a price to submit the market is three points away. I won't put a market order in, I don't know where I would get filled. Half of the week is wasted waiting for the silliness at 1:15. I've traded it before but its all VST scalps, just got lucky a few times with some good guesses on ST market turns.

[NAV]

Tea, Any daytrader who claim that they sucessfully daytrade the Post-fed volatility raises serious questions about their credibility. Last Fed meeting was one exception, where the market went staight up, without much whipsaw. Most other fed meetings are not playable. Like Skunk said, before you can click the mouse, the market races away 3-4 points and by the time you realize you are on the wrong side and click the mouse again, you lose another 3-4 points. There are 200+ trading days in a year. Why waste your money in this silliness when the big progams are fighting it out. Only way to play it is position a day or two ahead of time and have wide stops. I had a long going from yesterday from SPX 1530 with a stop at 1522. So i survived.

Edited by NAV, 31 October 2007 - 11:15 PM.