games with the E-mini

Discussion in 'Index Futures' started by sabena, May 23, 2002.

  1. sabena



    Have you seen that big order around 12:45 at the
    1085.25 price level with 3000,4000 contracts when the market
    was trading around 1084.

    At a certain moment he or she was increasing the number
    of contracts with 100 contract increments.

    When the 1085.25 price level was only 2 ticks away,
    those 3500 contracts disappeared like a thief in the night.

    Wondering why they play those games, from all the times
    I have seen this kind of action, I had not the impression
    that such games had any relevant effect on the price action...

    Anybody has other impressions ....?
  2. sabena


    And again, those 3000 contracts appeared at the
    1085.5 price level for a few seconds at 13:19.....
  3. sabena


    Now he is at the 1085.75 level with 5000 contracts
    at 13:25...
  4. Yoda says you must see through such illusions. Looks like someone is trying to play level 2 jedi mind games. The only problem is there is really no 'book' in futures because there are no specialists like NYSE and no market makers like in NASDAQ. Futures traders are not trained to look at market depth. They know that the real book is in the mind of the traders. On the floor of the exchange there is only the bid and the ask. If someone on the floor started bidding 2 or 3 ticks away from the market he'd get a dirty look from everyone else for wasting everyones' time.
  5. That dope is going to look real dumb if he ever gets filled.
  6. sabena


    Look, now he is at the 1086 price with 3000 contracts again
    at 13:32
  7. sabena


    Well, price turned at the price level he put in his order...

    Now it is 13:41 and he still doesn't want to give up with his
    3000 contracts...
  8. Ok I just saw your Mr 3000 at 2:11 eastern. He was selling about three ticks away from the market. It almost looked like he got filled except I can't find that much volume in the 1 minute bars. He must have cancelled the offer right as the market reach his level. Thats mighty fast typing. I wonder what kind of connection he had to be able do that? Anyway the market blew past his fake offer by about another point. So I wonder what he was trying to do?
  9. ddefina


    What good would size do in front of a freight train? He might slow it down, but he would be arbitraged out fast.
  10. sabena


    Maybe, an ex-stock market maker that is testing

    his games with futures....:0))))
    #10     May 23, 2002