From about 10:00 to 10:18 cst (so far) someone is offering iceberg orders , 100 at a crack in the er2. Theyve held the market down while the es, ym, and nq rallied. They have easily sold 2,000 or more contracts. They started at 722.00 offer, then 721.70, then 721.50. It's 10:20 and they're still there at 721.50. Bob
some commercial player is making a bet..............will see if they hit it right or not. I have been LONG the ES with a discretionary trade from the LOD area so we will see what happens to the ER2........... http://www.charthub.com/images/2006/09/22/ES_317_VB_4.png http://www.charthub.com/images/2006/09/22/ES_317_VB_5.png The commercial may get pressed a bit here.
sorry, my cat walked across my keyboard and hit my hot buttons, I will try and cancel those orders....
thye have done the same thing with the YM too I was hedged ( 1 ym long ) and (1 NQ short ) and it seem the NQ managed to go dow and i even went long in the NQ but the YM seems like it cant go higher I know for sure somehting is F@@@ going on so i will look to short it
still going........ http://www.charthub.com/images/2006/09/22/ES_317_VB_6.png 1323.50 to 1324.50 for the ES has some "sellers" in there that may defend their positions. Big flip out of SHORT's will happen if we can get above 1324.50.
How does the quote go? "When you reach your puke point, it's a good time to double up"? Hope you held on, Ozzy.
You got caught in a flow of LONG covering from some commercial probably..........someone locked in profits where they thought it may drop more.