roguetrader
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Got our retest of the highs on the Nasdaq SPX and INDU still lagging
hariab said:whats everyones thoughts on today????? How will the triple witching affect market??? Will it be rangebound, or will we break out of range as it is triple witching today???
I really do not know!!!!!!
The shorts just got BADLY burned on the FTSE100 June LIFFE futures contract. It spiked up to 5137 before the contract closed for trading at 10:30. That's a good example of what can happen at contract expiry - nearly 50 points higher than the index high up to that point (pro-rata that's over 100 points on the DOW!). The contract closed for trading at 5131. OK there was panic - but that tells me there's more upside to come today on the Footsie because open interest delivery will be at today's index closing price. Of course it could just have been a load of novices panicking because volume was not exceptional during the spike. In any event those who covered during that spike will be kicking themselves if the index closes below 5130 today.JillyB said:Futures expiry on the Dow seems to have had a bullish effect with an 11 point rise on CMC.
I see it has had the same effect on the FTSE.
Did anyone else expect this rise?
Don't understand your assertion that the LIFFE futures price spiked up to 5131. The FTSE moved up from circa 5060 to circa 5080 between 10.10 -10.30 this morning. Even adding the unmatched buy and sell orders into the equation I cannot see how this could have pushed up the strike price by more than 1% on the average index value.peterpr said:The shorts just got BADLY burned on the FTSE100 June LIFFE futures contract. It spiked up to 5137 before the contract closed for trading at 10:30. That's a good example of what can happen at contract expiry - nearly 50 points higher than the index high up to that point (pro-rata that's over 100 points on the DOW!). The contract closed for trading at 5131. OK there was panic - but that tells me there's more upside to come today on the Footsie because open interest delivery will be at today's index closing price. Of course it could just have been a load of novices panicking because volume was not exceptional during the spike. In any event those who covered during that spike will be kicking themselves if the index closes below 5130 today.
All great fun isn't it ? - You won't catch me anywhere near the YM June contract today, that's for sure.
Joules MM1 said:A comment often heard as Racer gets pulled over for speeding down the M1 (this is the censored version for when children on board :cheesy: )