From Today's The Big Picture

Discussion in 'Trading' started by robertstone, Nov 14, 2006.

  1. From Barry:

    [/i]Today's explosion: $4B emini covering

    I've checked the grapevine, and have it on fairly good authority: Today's explosion was caused by a covering (or unwinding of) a 122k emini SPX contracts.

    That's a notational value of $4B.

    Someone's stop loss got triggered big and ugly . . . [/i]

    Can some of you guys "in the know" comment on this? Is he correct?

    Interesting. Now that this "smart money" :p has covered, time for a drop?
  2. Yes, he is correct. How does it matter?
  3. Thanks.

    I just added an edit: Is it time for a drop? Just checking opinions.

    My systems don't care one way or the other.

    Good trading to all. :cool: