Afternoon Rallies

How real are they?

 

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Depends, its real for LUV;
but when you see few if any afternoon rallys like some in LUV sector, its real also.

At the end of the day, thats one of the many things to observe/record

 

There's something either strange or manipulated about a product (stock indices) that closes so frequently at the day's extremes. I've noticed it for years and Marty Schwartz points out it's been a common occurrence since the advent of index futures. Some would blame program trading.

That being said the implications of today's close for the direction of Monday's opening is nil.

 

Manipulated or not, apparently there no EDGE to be had.

Or is there?

 

As far as I'm aware there's a large number of programs running on YM that send big orders if triple digit numbers are hit: sell orders if down 100 and buy orders if up 100
That could partly explain the range extremes.

 

Where did you hear that? Sounds pretty lame to me.,

 

Bloomberg, through the end of the session...

Can't remember who waz, but I don't think they were talking rubbish.