Stock Market Today - Intraday discussion - Page 5188  

Although nothing much happened today on S&P, it was telling that Portugal news did nothing even with internals being in the bear camp all day.

The correlation with the Euro was off today. The Euro pulled back off highs, the ES did not, one will catch up with the other.

Strength in Nasdaq leaders was good, but this kind of chop and bearish internals does not get me exciting about any kind of long positions here.

Tough to judge with this volume.Looks like just some treading water for the next day or two unless some big news event happens.

Picked up some SPY 134 Puts and a GOOG 530/525 Put Spread around highs.

I would think that there has to be some back peddling here in the next few days at some point.

 

Quote:

Originally Posted by HFbamafan 

Picked up some SPY 134 Puts and a GOOG 530/525 Put Spread around highs.

No big volume on AAPL after hours as of yet.One interesting note is a couple big buys on MS though.I`ll be watching bank stocks tommorrow for some action.Other than that everything looks kinda ho-hum.

pretty much all of my day's profits were made in the first 30 minutes of trading.. rest of the day was pretty much kicking back and watching how things play out...

Thats funny you should say that.99% of my trades are closed before noon.Catch the daily dip on a rebound or short if it keeps falling.I stick to a few of the regular suspects and its been like clockwork.
 

Quote:

Originally Posted by charulz 

pretty much all of my day's profits were made in the first 30 minutes of trading.. rest of the day was pretty much kicking back and watching how things play out...

/TF

I don't like any prices for long positions above 835. 

840-843 looks advantageous for short positions.

I'm still expecting range trading during this rotation. 

I would like to see more distribution instead of the

absorption we saw this afternoon. 

Quote:

Originally Posted by IchibomB 

I know what you are saying. It just takes practice to see what works and doesn't. I'm new to trading multiple lots.

I'm going to start taking 2 lots at the target and then manage the remaining lots. Thanks!

 

I figured price would be in rotation and that we'd see some distribution so I traded my range strategy but

I didn't implement it very well. Tomorrow...

Hope my post didn't come off as critical. It was supposed to be a suggestion on one of the 10,000 ways to manage a trade. You're doing some sweet VP work and IMO reading the market rotations puts the ball in your court. :)

I don't know how many of you caught this, but I was shell shocked when I read it. Two things are possible here - either the big traders know a bigger event is coming and have stopped trading for some reason, or people do not have money to trade (or at least are not willing to risk their money) in the stock market. How else do you explain the 92.9% drop in volume?

Something is up.

CBOT June Trading Volume Drops By 92.9% Compared To Prior Year

Submitted by Tyler Durden on 07/05/2011 10:49 -0400

 

WillTheGreat - click the following link - http://www.zerohedge.com/article/cbot-june-trading-volume-drops-929-compared-prior-year

Hey bigbull, the link doesn't working.

Quote:

Originally Posted by WillTheGreat 

Hey bigbull, the link doesn't working.

Interesting find BB.

Here it is through ZH Will: http://www.zerohedge.com/article/cbot-june-trading-volume-drops-929-compared-prior-year

Awesome, thanks!

Quote:

Originally Posted by jbrand1 

Interesting find BB.

 

Here it is through ZH Will: http://www.zerohedge.com/article/cbot-june-trading-volume-drops-929-compared-prior-year

Actually, now that I think about it, I think there is more a realistic explanation to this phenomenon (the other two opinions seem to lack the cold hard evidence) ; it could be (actually, it is highly likely) that these large hedge funds (institutions) are trading through these black boxes (i.e. dark pools) as a way to circumvent their trades from the major exchanges (just take how volatile and dare I say, strange the markets have been acting in the last 2 months).Why would they want to this? To obviously keep the larger public out of the loop as to how they are positioning themselves. Then again, one would assume that these trades have to clear through some exchange..... (don't have much knowledge as to how these dark pool exactly work, but it is not out of the realm of possibilities).  It could also be that someone is trying to take business away from the CBOE.

WillTheGreat - I included the link to the post in my previous post. Just noticed jrbadn1 did so too.
 

Quote:

Originally Posted by bigbull 

I don't know how many of you caught this, but I was shell shocked when I read it. Two things are possible here - either the big traders know a bigger event is coming and have stopped trading for some reason, or people do not have money to trade (or at least are not willing to risk their money) in the stock market. How else do you explain the 92.9% drop in volume?

 

Something is up.

 

CBOT June Trading Volume Drops By 92.9% Compared To Prior Year

Submitted by Tyler Durden on 07/05/2011 10:49 -0400

 

There has to be some mistake here: according to the just released June CBOT volume for futures and options across the 4 key product categories: interest rate, equity index, energy, and commodities, plummeted by 92.9% Year over Year for the month of June. Although apparently not really per Reuters: "Trading volume at the Chicago Board of Trade was down 92.9 percent in June 2011 at about 5.3 million contracts versus about 74 million contracts traded in June 2010, CME Group said in its monthly volume report. The year-to-date volume through June 2011 was about 442 million contracts, compared with 443 million contracts for the same period in 2010, down by 0.3 percent." Some of the more jarring observations: $25DJ index futures: 2 contracts in June 2011, Mini Dow futures: 154K versus 3.7 million, and a complete collapse in IR futures and options: 5 and 10 Year Note futs down from 24MM and 10MM respectively to... 1.9MM and 934K! We can only assume this is due to some recalendarization of trading as otherwise this implies an epic collapse in any investor participation.

 

WillTheGreat - click the following link - http://www.zerohedge.com/article/cbot-june-trading-volume-drops-929-compared-prior-year

Quote:

Originally Posted by bigbull 

Actually, now that I think about it, I think there is more a realistic explanation to this phenomenon (the other two opinions seem to lack the cold hard evidence) ; it could be (actually, it is highly likely) that these large hedge funds (institutions) are trading through these black boxes (i.e. dark pools) as a way to circumvent their trades from the major exchanges (just take how volatile and dare I say, strange the markets have been acting in the last 2 months).Why would they want to this? To obviously keep the larger public out of the loop as to how they are positioning themselves. Then again, one would assume that these trades have to clear through some exchange..... (don't have much knowledge as to how these dark pool exactly work, but it is not out of the realm of possibilities).  It could also be that someone is trying to take business away from the CBOE.

 

WillTheGreat - I included the link to the post in my previous post. Just noticed jrbadn1 did so too.
 

 

it could also be that the big players aren't expecting much market movement or are expecting markets to be non-volatile

Isn't the volume of options trading (or trading in general) a symptom of volatility in the market? Last summer was much more volatile with the big correction in May-June than this one has been. VIX spikes seem to coincide with S&P volume spikes, and we haven't had one like the "flash crash" and its aftermath.

With no volume its hard to judge direction.I was hoping for maybe +50 close today but it never happened.Not based on anything concrete but I am thinking more of a pullback tommorow as the result of apprehension over Thursdays numbers.I`m a little spooked to go big in either direction so it will be a low volume day for me tommorrow with tight stops set.GLTA

And futures are about useless at this point.I`ll probably look at trade size of a few large caps to see what the big money is doing and try to form a plan.If nothing jumps out at me I may just take the day off.