Watch for big buy program in final 2 hrs

Discussion in 'Trading' started by detective, Jan 16, 2008.

  1. Feels like a buy program is waiting in the wings in the final 120 minutes of the day.

    Wall Street needs to defend this 1370-1380 area until the death and will not let it go without a tremendous fight. Buy program is on its way. Get ready.
  2. Please post your "predictions" in the 2008 Predictions thread.

    stop starting a new thread every time you have a thought :)
  3. There are others who start far more frivolous threads and much more frequently. This is a trading relevant thread and revealing information on the action that I see before me.
  4. Im sorry but "I see a buy program hitting" is NOT trading. This is pure guessing at its best.
    Even if your gut feel was very good, its still nothing more than guessing and probably belongs in the "predictions" thread. All these new threads just clutter the board, thats why a predictions thread was started, to consolidate them all.

  5. First signs of buy program showing up. More to come. I think we close around 1390 in the S&P.
  6. The Financial stocks are rallying hard, and that will put in a decent "bid" in the entire market.
    GS, LEH, BAC, etc.
  7. I don't think financials will lead us into a sustainable rally. Just oversold rallies that should be sold into. But let this rally play out, it has at least another 60 minutes left. LOL.
  8. We were just a few points below 1390 when you made that call.. is that the big buying program you were referring to?
  9. Buy program runs into sell program. Be careful out there. Looks like a huge battle going on with 2 sides loaded with ammo.

    Principle #1: when there are competing programs at work, the program that started later will usually win out.

    Thus, looks like this sell program will win out over the buy program today. Very choppy trading.
  10. I was referring to the buy program that started at ES 1385 and took it to 1397. 12 points in about 15 minutes. Looks like a trap now because a sell program just hit 5 minutes ago. Refer to my principles on program trading.
    #10     Jan 16, 2008