Bull$hit ICE cocoa action

Discussion in 'Ag Futures' started by heech, Mar 31, 2010.

  1. heech


    Anyone see the bull$hit movement in NYBOT CC price this morning? At 13:54 EST (25 minutes after pit close, 5 minutes before electronic close), CC price plunges 2% for a few seconds, and then reverses.

    It hit a few hundred stop orders on the way down (including mine).
  2. Liquidity found.
  3. this happens "a lot". Call it your initiation into the wonderful world of semi-liquid softs . Same thing happens in the others as well. it always seems to be right before the RTH close... hmmm... someone must have needed to square the books before quarter end. Sorry it hit you but that's the knocks you have take in those markets unfortunately.
  4. I have to ask you why on earth you would trade in a market where you know that big players can take your stops out with moves like this? It's not like it's a big secret. This is the third thread like this in the past few weeks. The other one I remember was where a guy was complaining about getting stopped out in... wait for it... rough rice!!!
  5. Welcome to the wonderful world of algo trading. thin markets that need price discovery only have robots,no price discovery the people who these markets where built for , produces and end users they are not using them anymore. good luck
  6. Illum


    You would think in a market environment you too could take part in a dislocation in price and buy at an abnormal low, well no. You are not as fast as these computers. Did they fill you close to your stop at least?
  7. bighog

    bighog Guest

    Trading ag futures, be it softs, grains or anything that can be grown, fattened up, sliced, juiced, picked, planted, roasted, drank or sprouts is a different ball game than trading the financials.

    The old saying is: Ag's are BREAKOUT and RUN mkts, where the financials are BACK and FILL mkts.

    Myself i prefered to position trade the ag's and daytrade the fins.

    Nohing stays the same, these days we have sats in the sky that can tell how the Ruskies or the Chinese crops are doing as far as growing is progressing. Demand is another ballgame though. Currency changes matter more also........Brazil is a major soybean producer and the old seasonals are skewed since they have a different growing season.

    I think it was Connie Brown where i read that she said " i do not trade anything that has roots or can walk" :D
  8. Is this a fact, or you just speculating here?
  9. they are to some extent, I'm sure especially after everybody got run in March 08 in Cotton for example, lots of OTC stuff going on...
  10. PhiliC


    Good point about cotton in '08. Total manipulation. Fact - all markets are manipulated. Crude does some crazy things overnight. I trade these markets occasionally - lately its been live cattle. But the way to avoid the manipulation screw job is speed. Get in and out, and don't carry overnight. I don't trust any of these MF'ers - especially after that cotton fiasco that the CFTC condoned.

    good day ----
    #10     May 4, 2010