Yeah, it could be big capital washing out weak hands or big capital that knows something. The subprime fiasco isn't helping the bulls.
Expectations are for weak durable goods orders so some weak longs could have been liquidating at the last minute.
oscar's trading system made a call for buying at market right before close, with stops right under market lows for the day. His system has a big following, and I'm wondering if this was a low cost method of fishing the stops. Generate a few thousand contracts of market sell stop orders and this is what you get. I'd be willing to bet it was that. I don't think it would be too bold to say maybe a few big funds and/or arab oil guys with nothing else better to do than trade or countertrade his system are out there. You can do these things in thin markets. Short Term Trading Live with Oscar June 26, 2007, 2:31 pm EDT Oscar at Futurestraders.com has sent 3 Daily OMNI(s) TRADE DATE: 06/26/07 GO TO OSCAR'S OMNI PAGE NOW! ******************************************************* 6th flash go long right ESU7 here at mkt last tick = 1508.50 stops go below todays low i will keep you informed ******************************************
This Oscar? Wow, I thought he just played horses and sports. Nice call. What I expect from ET. 100k contracts traded, which is 99,990 more than this Oscar guy moves.
Anyone remember the double-digit upmoves pre-market last summer? Most thought it was fat-fingers, but it was not. Could this be the precursor for the reverse? Trade what you see, not what you think Osorico
i don't trade his calls, but I pay attention to them. Honestly, I'd be doing better on ES if I did trade them. This guy has quite a following. Figure he gets 300-500 views/day on his daily youtube video. Triple that for his mailing list. If you have 1500 guys trading his calls, not to mention a few big funds with size-- it adds up!! especially a call where the stops are very close to market. Not to mention all those marketdelta type black box systems that pay attention to orders that occur on market and pile in on that basis... (which may believe it or not be the majority of what made this move) I bet even 300-500 sell on market orders of very small size occuring near simultaneously could have a much bigger impact than normally realizable with these current market conditions in a thin market.
Anythings possible but I doubt if they trade his calls in that number. Also, i'd look up the word thin. Nothing thin about the trading there. I already explained that.