You also have the whole Keath Ledger autopsy thing. Results were released at 3pm and deemed inconclusive. Sleeping pill pharmaceuticals led the rally...
I enjoy the late afternoon and early Globex open. Almost like free money if you know how to do it. Maria
I bought the last pull back to the PP at 1297. I just exited at 1343. The funny thing is, it felt like I have been in this for a long time, yet I just got in a little over an hour ago. This is insane. lol
These markets are very volatile, but they still are not at the level during the late 90's-2002 time period. Back then there were stocks like sdli,brcm,pmcs that would have 30-70 point range evry day. I also agree with Austinp markets are harder to trade because of the algo bots.
Austin, I agree the Vol is more chaotic now... It would be interesting to have a new thread trying to discern what the majority of bots are doing at their choatic turning points... A high number of eyes watching and posting might come up with some interesting observations... Its like a drunk monkey on meth... <img src="http://www.enflow.com/p.gif">
"i would humbly disagree, VIX really only dropped in the 3pm hr" VIX is not a measure of volatility it's a measure of IMPLIED volatility. it does not measure volatility qua volatility. it measures "risk premium", iow a forward looking view at how option traders are assessing FUTURE volatility via the price of OEX options. for pete's sake.
<i>"It would be interesting to have a new thread trying to discern what the majority of bots are doing at their choatic turning points... A high number of eyes watching and posting might come up with some interesting observations..."</i> I see a lot of program acceleration on breaks of 5-bar fractals. It looks to me like many of the programs are volatility breakouts based on x-number of bars backward in time as a core basis. That said, all 5-bar fractals (pivots) naturally include 3-bars and most are 10-bar patterns, etc. some of the filters may be volume based, time of day based, trend = momentum but the overall premise right now seems to be measured breakouts on programs. Many times these visible levels - trendlines break and it's an instant surge higher or lower respectively.
I agree. Today was a mentally exhausting day in which I over-traded but still had a decent day. My head is splitting.