That's not an answer. If you are going to take the time to post, try to put something a little more coherent together other then saying something is stupid. Thanks.
You are absolutely, undeniably correct with what you say here. Try not to let it effect you as much as it does, but do not forget that YOU are right and these people are WRONG. I imagine these people have never seen a Level 2 order book or trading ladder in their lives. Otherwise they would surely have seen the constant bid side order stuffing that occurs in the ES. And these are genuine bona fida orders are they?!?!??!?!?!? Some people will always remain in the dark with sunglasses on. Geeeeeeezzzzzzz
My apologies, because I know the market is rigged up, I will go long 24 hours a day based on this, as per your advice, quite possibly like you did in 07 and 08 and were crying about financial 'terrorists' slamming the market down like Jim Cramer did. Did you beg the SEC for more rules against short selling because you were crying about your longs in 07 08... to tilt the market even more in the bulls favour???? HAHAHAHH. The irony is.. that the last 6 months I have been a long only trader and done very well out of it too, but a crock of poo smells like a crock of poo no matter how much you want it to smell like perfume. Look through my posts you will see that months ago I said that long only was my strategy. But not forever!
Dude, I'm an options trader. I'm not a long only trader. So please get your facts straight about me. My comment was and still is, if you truly believe the market is rigged (I don't), then you can make a fortune betting on it. It's that simple. Usually, the ones that complain the loudest, are the ones that are losing the most. Hmm...
The trouble with the question ("is the ES rigged?") is that it doesn't define what it means to be rigged. Most probably anybody who claims a market to be rigged is somebody who believes the price is *not what it should be*. In other words, is the market wrong? You can say what you like about traders who complain about the market being rigged, but there are surely many examples of markets where the price was not what it should have been at any particular point in time. Was the market wrong at SPX 1550? In hindsight, yes. Only hindsight will tell us if it's wrong now. One wonders if the market is "wrong" for a reason. Only if that reason was through organised collusive activity would that constitute rigging. But how can any of us know?
I understand how company or group of companies with a lot of money can corner a commodity market but how can you corner a full on index? Isn't the required float huge, even in The Ben Bernank terms?
you do know that the float is less than .0001% of outstanding shares traded in the open market. and now the futures lead the stocks.. the market is thinner than you think..100 shares traded and the s&p as for daytrading volume it's fake wash trading volume..there is no volume afterhours.... you only need couple of millions... goldman sachs alone can move the market...easily by few percentages and there is reason market manipulation is illegal because the markets can be rigge an manipulated...nowadays the US market has no rules..the market isn't the same as before....as for electronic trading it's a different game than trading at the pit.
You will note that those here arguing conspiracy theory (eg market rigging) have absolutely no experience on which to base their contention. For sure they are not trading or are not being successful in trading markets. What I wrote was that a bottom can be set which turns out to be the bottom. Theres no guarantee. Professional market understanding has become very sophisticated (not at ET though) and accordingly I can most often determine bottoms in the daily gyrations (eg CL). So you too could buy at approximately the right points with only one or a few contracts. You would have to have the detailed and tabulated data base I have. The underlying point is that a big corporate player can make immense amounts of money using daily market forces in price momentum. You would not waste your money and resources on trying to rig a market and especially not long term. The final point is that ET harbours a great amount of random irrationality. Instead the amateur trader has to get down to the hard business of learning what you should be doing (with limited capital) and ignore the constant diversion irrationality provides which doesn't make you rich.