For all the trades of ES who know it better than myself, why the hell it finally broke 49.5 exactly at 4 o clock after cash stopped trading ? What was it that caused 49.5 to remain the daily high from last 4 hours even when price spent around 30-40 minutes within one point of it during the whole day. This is a puzzle, which must be solved. Has to be a market microstructure reason behind it.. Common guys answer it
they waited until the last second to make that print. who says the market doesn't have a sense of humor. go figure. well i am short from here anyway, going to keep an eye on it for overnight sillyness. 1248-1249 have a great night!
can't answer gm, but stepped away as I was flat and came back to see my assumption (guess) of a short squeeze / stop run apparently came true. Sorry satch....it would have taken my stop....hopefully you fared better. I can see a gap down and a target of 30-35 as well. Just not sure how to get there and how much heat to endure. Couple of PBR's it is....:eek:
news out that house spkr agreed to house vote on payroll tax - house republicans agreed to the deal - it came out and we popped exactly at that time. (remember payroll tax cuts have been in the air since yesterday) that's what I saw.
I hope everyone had a good day trading! I had the early morning long, and then tried a long 3 times in the 8:00 PST slop before we finally broke up and tagged 48.50's.
your taking small profits and large losses,lower your loss limit until you start taking larger profits,give you credit for limiting your number of trades
the s&p rating change was for GS, but hey they do God's work so it's bullish. Now it's apparently false. (Not the God part the rating part ) And it was on the S&P site, but S&P says no. wtf.