Any comments on today's price action?

Discussion in 'Trading' started by reno4nook, Nov 30, 2005.

  1. pinabetal

    pinabetal

    Nope. Didn't take a position. I think it has topped for the day or close to it. I could be wrong.
     
    #31     Dec 1, 2005
  2. The market internals are heavily bullish

    Adv/Dec 74% advances

    Adv/Dev Vol 78% up volume

    TRIN .82

    be careful, it's very tough to short successfully in this kind of environment

    I have seen several TICKS up to 1250 or so.

    This kind of day could easily close near the high.

    market profile---:cool:
     
    #32     Dec 1, 2005
  3. pinabetal

    pinabetal

    Yes it may head up a little more before declining. Just have to wait and see.
     
    #33     Dec 1, 2005
  4. Well I guess that for now it looks like the Nasdaq is leading the market's direction, imho. The Russell 2k also.

    Perhaps money is rotating out of energy shocks into tech.
     
    #34     Dec 1, 2005
  5. see the Nikkei last night and then the buying in the EU markets that caused short covering all the way up to the ECB rate hike announcement ---- foreign inflows shifting over after our sell off yesterday. today the U.S. market had small foreign inflows {nothing special} but the institutions were able to keep enough buy programs going in the equities most of the day to force continued futures position short covering {after a fairly large amount of short covering from the overnight session}.

    very interesting foreign flows 1-2-3 play from yesterdays sell off to todays close

    1) sell the U.S. equities

    2) buy the nikkei

    3) buy the E.U. markets

    byproduct here in our markets today --- initially forced {overnight session} and then "worked" {day session} short covering pushes.


    what the U.S. market lacked today was new "responsive" buying -- a break of the 1268.00 level today for the ES would have shown new "responsive" buying market participants. also the commercials were selling the 1267 and above levels in the pit at the end of the day which they are still holding.

    tonight we will see what the foreign monies do in the Nikkei and the EU markets {i would think they would keep holding the nikkei positions as they feel bulletproof there}.
     
    #35     Dec 1, 2005
  6. bl7077

    bl7077

    NYSE GLITCH CO$TS BROKERS
    By RODDY BOYD

    The New York Stock Exchange tried to sweep a "major snafu" under the rug in its electronic trade reporting system.

    The glitch on Wednesday not only slowed down trading, but it cost floor brokers thousands of dollars.

    It also raised eyebrows as the Big Board prepares to merge its partially automated trading system with the high-tech electronic platform Archipelago.


    The problem, which became publicly known yesterday, was a technical glitch involving the NYSE's vaunted Broker to Booth Support System, where orders were not transmitted between brokers and specialists.

    As a result, the floor brokers could not fill the customer orders.


    A NYSE spokesman confirmed the mistake, but declined to elaborate on it.

    Two floor brokers told The Post they were forced to eat the NYSE's errors by running thousands of dollars worth of botched trades through so-called error accounts.

    What's worse, the brokers told The Post that when they confronted NYSE officials over the matter, they were told that not only was the glitch known about, but that it came about during the testing of the much anticipated "hybrid" trading system.

    Bill King, a veteran equity strategist and trader, said "NYSE solons" refused to close the Big Board when the snafu hit, even as floor brokers pleaded that they had no idea where orders stood.
     
    #36     Dec 3, 2005
  7. "very interesting foreign flows 1-2-3 play from yesterdays sell off to todays close

    1) sell the U.S. equities

    2) buy the nikkei

    3) buy the E.U. markets"

    Something like this has been going on all year with the exception of nikkei but even that had landed hard uppercuts on the 12K level early in the year before blowing the roof off.

    Another big year in eurozone. I remember looking with astonishment at the Austrian markets a year or so ago. This year the screamer has been Swiss SMI which American based accounts aren't allowed to trade unfortunately. Then we have the Arab world which has markets up 50, 60, 70% :eek: as well as many other other lower tier markets all over the world.

    Back in October the play was sell Europe buy US but now it looks like the US will go nowhere again this year though bulls or those desperate for performance related compensation might get us up 5% or so - haven't looked at the YTDs recently.
     
    #37     Dec 3, 2005