Low volume but more buyers than sellers.
NYSE up stocks to down stocks ration was something like 5 to 1.

Holiday coming up. End of summer vacay. We will see what September brings. One of the weakest months of the year

Actually, I did notice that, which was part of the reason I went short a handle off the high yesterday. So far so good, but low volume days can also be pretty volatile when the machines get going. Will probably bank my beer money for the day (+9 handles), and look to go short again on Friday, since it looks like we might see a couple of sideways days.

"Buying the dips" when the intermediate trend is up and "selling the pops" when its down seem to be working this year, but often there are these sideways trends that take days to resolve. It must be killing the day trading market, cause I'm finding swing trades over several days are needed to make money.

I'm looking for a grind in the S&P down to about 2325 over the next few weeks, with potential bottoms at 2410 or 2365. Then we'll see how the IT is playing out.

The term "handles" never sat right with me...I know it's been used forever among traders, but who started it and why? LOL

It means POINTS, right? LMAO

Yes, a handle is a point, and I suppose the origin goes back to the agricultural contracts, but I'm not sure of the specifics. I don't know that much of the trading lingo, but ticks and handles are a bit more clear than "point", so I sometimes use those terms. Certainly not to sound too much like a pro, 'cause I ain't one....:)

BTW - out at 2444.25, for a 9.5 handle/point profit. Don't like the action, and don't want to suffer through sideways bouncing for a couple of days. The problem is when the moves start, they're quick. Very quick.

The bear side of the trade seems awfully crowded these days, which is why I'm careful, but the action over the last few months seems "topping" in nature, and I can't help but think the Fed's rate hike in December and/or balance sheet reduction won't take some of the air out of the cushion that the declines run into.

Sorry, didn't mean to rain on your post...just for whatever reason, the whole handles thing has been a major irritant to me, and I'm basically the only one...lol

Nice trading!

I've stopped posting trades, not because I haven't had any (I've had a LOT in August, and I am currently down less than half my usual risk per trade for the month)....but because it's obviously nothing more than me looking for an ego stroke when I get it right....in other words, it's pointless...lol

Handles and Cars are both terms for points.

I was looking for a nice follow through pop today after yesterday's reversal. Nothing major, maybe 2-10 cars on the ES, and 5-25 handles on the NQ.

When that didn't happen I was puzzled. Not only were we not up but at one point the ES was down 11.50.

That didn't really make sense to me that we would be down so much. But the interesting thing was volatility. XIV was down 4 points. It was up 6 yesterday. (VXX had a 4 for 1 reverse split today.) That just seemed like way too much. It was. (It's down 1.18 as I write this.)

But then I got to thinking—Trump must have said something. What else could it be? So I did a little digging and sure enough the petulant child said that if he doesn't get his wall then he's going to shut down the government!

Absolutely amazing. I mean it's just friggin amazing!

Yeah, cars! Forgot about that one...that's another one! LOL

I was first exposed to all this on the elite trader forum site...

Not sure what you're seeing for lowest volume of 5 years s&pStocks? Source?


Not even close to that in the ES futures which is what I look at.

all terms used to confuse the newbies so they wont come in and make all that easy money .

Investors looking elsewhere for safety from US markets?.....It appears so:

http://www.reuters.com/article/us-us...-idUSKCN1B323R

Think you got bad data

2,777,490,000

Aug 22, 20172,433.752,454.772,433.672,452.512,452.51 2,777,490,000

When I posted last night at 1:30 AM, that figure was there from the close of the market, which settled at 4:15 PM, until when I posted. If they revised the figure in the 7 hours before the market opened, I'd have no idea why they waited so long to change the volume fig......Do you think I just posted some figure out of the clear blue?

What volume fig do you see for the S&P market with 30 min. til close today?

I'm seeing Volume- 1,129,761,153

I dont track that figure so I have no idea how its updated.

All I know is, the ES volume was pretty normal yest and that usually means stock volume is too.

How could it be a 5 year low, out of the blue? Sanity check.

This market is indeed overpriced.....INsanity check. BTW, are you buddies with Whodo?

We're talking about VOLUME and now you bring up PRICE ?

I think we're in trouble here.

And you see no correlation between the two?..:rolleyes: We're done.

all you really have to do to win betting on equities is tag Fidelity, Wellington Capital, and State Street. if all 3 are buyers you want to be there with them, if they are sellers you want to short.

example on the June 30 filings, all 3 of those company's sold American Airlines almost at the top, since then the stock is down about 20%.

all 3 of those have to be going the same way otherwise its a no play. i happened to have looked at Delta Airlines and saw Fidelity was a seller while Wellington is a buyer? that means stay away from either side of the trade.

How
 

Do you find out when they're buying or selling and what they're buying or selling

Hi Boss,

I liked following your trades. I also know what you mean about pointless and an ego trip.

However, I think that there are many on this board that trade and a contest could be fun, bring hits to your site, and possibly some of the participants could share some insights.

The contest could be weekly for the greatest action. No prizes!

For me, I would like a weekly options contest with a funny-money bankroll of $10,000.

Others could add: ES only, Gold only, Stocks only or whatever. Bring your own ideas.

Anyone interested?

you find out about a week later. its worked for years even though you take the worst of the price.

right now Fidelity has sold their Delta Airlines while Wellington has bought so you wouldn't get involved in that one.

the same thing happened in the gold market in 1999 after it had dead for over 20 years and then it took off.

Recently I was reading up on how the Elliot Wave International weenies insist that news does not affect the market. Like the election and Brexit didn't move the meter? :D

But what is clear is that the news item tagged for the cause of a move may not be the real "root cause mover". It came out prior to the weekend that Trump was threatening a government shutdown, so one would think that would have been a mover on Monday, unless for some reason it was just taken "seriously" later on.

Personally, I was thinking the Jackson Hole news flow might get a pump and dump started, but futes now heading down. Hmmmm..... Tricky.

BTW - I thought "car" was lingo for a full S&P contract (5 times the mini). You hear the guys in the pit mention that term when the floor traders are getting involved with bigger moves.....

R.N. Elliot died a poor man. Elliot Wave with its constant renumbering after the fact is extremely hazardous to your wealth.

Crazy Candle in Gold today sold off 15 points in about 1 minute on break of 1300 now snuggling right back up. Any shenanigans by NK over the weekend and we could have a massive gap and go.

the dollar just cracked 92 today and looks like its going a lot lower.

it looks like Trump doesn't care what the rest of the world wants, he wants to see the people in this country do well, and that would mean a weaker currency.

i was watching the whipsaw action today with gold, someone showed up with a large short on gold and someone was on the other side of the trade buying it right away. then they pushed price up a little.

this baby is all coiled up ready to takeoff, they are just looking for a few more victims to fall into place and then all hell will let lose.

looking further into the gold trading today, someone walked up to the window and laid down $2 million to short contracts and there was someone ready for him on the other side. that is what i call strength and signals to me that the shorts are going to be in a heap of trouble with their trades and gold is going back up to $1370 for now.

they got all these hurricanes going through the gulf and the price of oil won't go up! the dollar has been going down and the price of oil won't go up!

something wrong with oil.

Oil Refineries offline=Reduced Demand=Falling commodity price.

Glad you play in the mutuel pools.:headbanger:

I learn a lot from your trades. It keeps me in tune to the market. Market sentiment is important.

The downside is that when someone posts their trades they might have to put up with ridicule from the know it alls, but that's a small price to pay. No one ever claimed that all posters here have tact. :D

he has tremendous discipline with his stops and the way he trades. he will outshine most. he should focus in on gold now, i am sure he would do much better than myself.

$ 2 million wouldn't cause that. right.

In a span of one minute, gold futures contracts equaling more than 2 million ounces traded --

retail is down, selling at low pe
 

auto stock down, selling at low pe
airlines down, selling at low pe
bio down, selling at low pe

Amzn - if they enter any business, that sector tanks
Amzn news has taken down Wmt, ,cvs, hd,low, KR, cvs, Auto parts...but amzn does not make too much money. These companies make $$$$, and they go down..AMZN does not make money, but rev goes up, it goes up.




This market held up by less than 10 stocks, and they are all selling at perfection.

A 5 to 10 % correction is needed from these so called growth stocks.

IF the internet ever goes down that would be a big hit for a company like Amazon.

Walmart will do fine off the grid because they have physical locations.

Now, if the internet goes down we're all in trouble, but still, the risk of owning Amazon is not zero.

We have lift off but Need to Hold 1307+

the guy that plunked down the $2mil has been taken to the woodshed for further punishment.

You keep insisting it was a 2 million dollar trade,

when it was a 2 million ounce trade.

shame on you, you are not paying attention.

the $2 million was the amount of money sent into the futures market. i don't know the exact margin requirements these days but that is all the guy put up with his own money. he might be upside down now and will probably need to come up with more money to keep his short alive.

if it was a 2 mil ounce trade, that means every 1 dollar move is $2 mill up /down in the trade.

if you think referring to it as a $2 million dollar trade makes any sense at all, you're in deep trouble.

" Shortly after 9:30 a.m. Friday, approximately 2 million ounces of gold were traded, which carries a value of around $2.6 billion. The sudden surge in activity came at a time when volatility in the gold market was at its lowest levels since 2005."

You're also wrong about the 2 million. That's not the margin. Not even close

why would a guy with $2.6 billion in his pocket decide to short gold at 9:00 a.m. ?