S&P 500 & other indexes - intraday. Plus chat

Monday 20th August

Europe mixed, Asia mixed.
No relevant news

Story today is really – will the volume be back this week or are we going to chop around? Pre-market volume is below average right now.

We are now about 5 points from that 4 year high, Friday was a very narrow range day 1410-1416.75

It appears we will open in the middle of Fridays range, so we may well take out one extreme of the range and then reverse and take out the other.

If we take out the high/low on lower volume, I’d expect a reversal to the opposite end. If we get more volume/speed, then it could well break out but I will not join the breakout, it’s too risky IMO.

Longs – 1413.75, 1412.75, 1412 (ONL) , 1409-1409.75
Shorts – 1418 (ONH), 1416.75

As you can see – I don’t really have any points very far away from the action to play off.
 
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9:42 - 9:42 Took a long off the 1412.75 area – looked like a hold. Buyers came in a little after the screen shot. Got T1 by the time I posted this, hit T2 but no fill yet. Quite fast that was.... T3 now @ 1417.50

8-20-20129-42-29AM.png
 
Actually - to be precise, the long was off the 1412 overnight low (blue line on the chart). I was 3 ticks away from that on entry.

Took off T2 early - 1414.25 as it hit 1414.75 a number of times & didn't fill me. Will now let this ride.
 
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Didn't take the ON-L - thought that shorts would come in at 13.75 so thought that profit target was too close to entry - c'est la vie.

Good trade Pedro :)
 
Thx Rob - still got the last part on, although buying pretty much died out. I shoulda woulda coulda left T2 where it was....

Why were you expecting shorts @ 13.75 - the VAL from Friday?

I was pretty ambivalent until I saw bidders step up as at 12.25/12.50....
 
Long 1410.25 - not a great price - took the bounce off the 09 area as above.

8-20-201210-24-08AM.png


Now waiting for buyers to get some love.
 
Thx Rob - still got the last part on, although buying pretty much died out. I shoulda woulda coulda left T2 where it was....

Why were you expecting shorts @ 13.75 - the VAL from Friday?

I was pretty ambivalent until I saw bidders step up as at 12.25/12.50....

No - 13.75 has built up as a VPOC from overnight with about 18k contracts so I thought they would unload as I felt it was on a mission downwards.

You're going to laugh at where I got stopped out from an entry at 10.75......yes, you got it 09.50................:rolleyes:
 
No - 13.75 has built up as a VPOC from overnight with about 18k contracts so I thought they would unload as I felt it was on a mission downwards.

You're going to laugh at where I got stopped out from an entry at 10.75......yes, you got it 09.50................:rolleyes:

Ouch - low ticked. :cry: :cry: :cry:

Sometimes, it really does feel like the market is out to get you....
 
Yes - today I have been low ticked by the little flurry of selling that occurred at 15:24GMT.....

Ah well, net -1 tick today..........
 
21st August, 2012

Asia mixed, Europe up marginally

New high at 1419.50 overnight. Still a small range with 1413.75 being the ONL

No news.

Last few days have marked out a range 1410-1419 but no point drawing a balance area around that. Just that we could bounce 1408-1420 for a while, so something to consider.

Longs 1418 (YH), 1414.75 (YC), 1409.50 – also look for a runner if buyers come in
Shorts – ONH whatever that ends up being, anywhere overhead if aggressive sellers come in, other than that – nothing obvious

To me, it’s shaping up for a drop on the open to shake overnight longs.
 
Rob - you gonna be paying any attention to yesterdays VPOC? Is it a line in the sand?

It's proximity to the ONL is interesting especially if volume picks up a little (which there is currently no sign of it doing). It's a tradeable area long if that's what you mean.

I watch all the NVPOC's until they are tagged btw - they are cheap liquidity.
 
Didn't long the return to the open there - didn't look very promising.... Will probably now go up 20 ticks
 
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