Last Half Hour

Other than a big buy program coming in was there any news to explain this nice little run into the close -- made my day frankly.

 

All explained here:

http://elitetrader.com/vb/showthread.php?s=&postid=1282410#post1282410

 

PPT giving some cushion off the neckline......as per usual off critical levels.

 

Looks like a short sqeeze to me.

 

This is nothing new. The 3:30 reversal is one of the most common market patterns.

 

What surprised me wasn't the reversal as I was in for that play -- it was the intensity of it on a Friday afternoon.

 

it was a BIG BUY PROGRAM, THATS IT. Amazing how they can move the market when they want to. Just imagine the hundreds of millions that were made in this last 30 minutes of trading.

 

Not to mention the market was VERY net short on the day.

At its low, the market delta was at something like -75,000 contracts in the ES.

Anyone who initiated new shorts and didnt want to go home short had to cover.

 

market still believes we are in for a soft landing. panicked after those manu numbers came out below 50 but then paused and thot about it. dunno why it changed its mind late in the day but it did.

that's me view anyways.

 

are u implying that the market delta can tell u how many people are net short for the day?

hint: it can't