You guys Whine too much. You know the game. You know the rules. So why not Play to win. ------------ http://elitetrader.com/vb/showthread.php?s=&postid=2444868#post2444868 05-29-09 06:24 AM What's so different in the economy now than 3 months ago when Oil was spiraling lower in a panic? Markets are stupid and manipulated. if you try to make sense of market stupidity you're wasting time. Who cares why the market is moving, ride the gravy train and leave the morality part for whether to wipe your ass with a dollar bill or not. Because sooner than later, the dollar will be worthless and oil will go higher because it is pegged to the dollar. Oh yeah, buy Gold before it breaks 1000. Because if it does, that's 4 short sweet months to 1500 --------------- Oh yeah, the more people who think this is at resistance, the higher it's going. If you want to know what's going on, spend your time studying the Zimbabwe stock market.
It was end of month options expiration. There were outstanding calls the market makers had to dynamically hedge. That means buying with an ascending market. I'm sure the seed to start the thing was only ten or twenty thousand ES at the last minute. http://www.cmegroup.com/trading/equity-index/european-style-eom/e-mini-sandp500-eom.html Judging by that, I think the real delta hedging occurred via the SPY, not the futures opts. You can see, it hit 93.7 at one point, and probably had a much higher open int.
for you conspiracy theorists go and read zerohedge.blogspot.com some good stuff just because you're paranoid doesn't mean you're not right