Suggestion : ask someone about where the biggest volume of enery trades. Its on the exchanges like ICE and swaps using over the counter brokers to quietly put on "size" and "bets" "hedges" whateer yo want to call them The electronic marketplace is a manipulation tool in my opinion for larger traders to scare up the "other side" of their trades to "shake" them....... on occasion electronic markets just flow as normal, no big deal, no news etc.... for most part its just a game. Dark pools are where the "trades" are on.
Hi pwrtrdr: Do the over the counter trades get cleared through the CME? As you are probably aware, the CME website shows the intraday volumes of the contracts. Later, there is an end of the day volume report which shows a higher volume. There is a page that reconciles the volumes on the two reports. The main differences, as I remember them, are volume on block sales and volume on spreads between different monthâs contracts. These volumes are not included in the intraday totals. The biggest volume on the CME reports for CL is the intraday Globex volume. However, regardless, I find the volume on electronic trading helpful. So often, CL will say move up to an even dollar amount or some other sup/res and there will be a spike in volume which is a good heads up that big money is exiting their positions and the long is over. If I am wrong, please let me know.
Yes some do CME or old NYMEX. clearport some dont, some are on ICE www.theice.com some swap with each other too, like one oil company may do large trades with a fund
I don`t doubt there are deals being made behind closed doors, but a significant portion of the volume is traded electronically and this will likely increase as the pits become obsolete and regulations tighten. Take a look at the attached composite. The volume histogram is plotted from just before the recent intermediate swing low at 12/16/2009. Not all of the data range is seen on this 15min price chart but the volume histogram plots that entire range. Point being that it is clear how significant CL electronic volume is with regards to past and future S/R. Whatever happened in the cash index or this or that option series is of minute importance compared to this fact. Clearly, CL electronic order flow may not be the entire picture but it is very important. Consequently, tape, DOM and MD techniques are certainly worthwhile.
Yes, it has its moments. I agree. Just thought worth pointing out about how much is traded off exchange. thnx
Enderson, Are those order flow indicators shown in your first post publicly available for NT? I am looking into order flow analysis as an addition to my trading tool chest. Much obliged.