spike up and down?


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  • BruceM
  • 14-Jan-2008 at 8:07 AM
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Anyone showing this on their overnight data? emini S&P...way up in the 1430 area and down in the 1357 area...perhaps my IB data is whacko.....

seems that this gap should be sold....with last weeks close and weekly pivot sitting below...this 17.75 area is the place for it.....seems the 1411-1413 area will be early support in real time session
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  • Stowaway
  • 14-Jan-2008 at 8:31 AM
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Hi Bruce,

I just got out of my trade before the market spiked!!! I am so glad I had the stops tight in place, it was crazy. I use Esignal, and it did show up on my charts!!!!

  • 0
  • BruceM
  • 14-Jan-2008 at 8:38 AM
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That certainly is a crazy one Alex......I'm generally bullish on this week but would prefer to see this go back to Fridays close first.......I have noticed that during options expiration weeks there is a greater tendency to keep the market away from key numbers...like the 1400 futures........now with this spike it will be interesting to see which side of that spike gets taken out first and my money will be pressing the long side in general to get to that 1430 area first....

so hopefully it will go down first in order to go up longer term....thanks for confirming that for me

Bruce
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  • Stowaway
  • 14-Jan-2008 at 9:04 AM
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I think you are right Bruce. I am long from 1417.75 to the daily R1 (1420.75). I will short if it gets there and I believe that it will get back to the friday close. There is a lot of news out, mostly positive, looks like they are throwing everything at the market to keep it from falling further.
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  • BruceM
  • 14-Jan-2008 at 9:33 AM
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cool..i just sold the 19.50..expecting test of lower range
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  • BruceM
  • 14-Jan-2008 at 9:39 AM
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so it seems the 18-20 will be first zone to clear if any upside is to take hold....just covered some at the minus 2.5. and some at the minus 4.I don't like buying when we are so close to an overnight high and and R1...
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  • Stowaway
  • 14-Jan-2008 at 9:45 AM
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got stoped out at 1416.75. one point loss, short at 1417.looking for 1412.
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  • BruceM
  • 14-Jan-2008 at 9:46 AM
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ended campaign at 13 even..seems like a pop back up coming
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  • Stowaway
  • 14-Jan-2008 at 9:49 AM
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coverred @ 1414. moved down my stop and got hit. should have waited a little longer, it hit 1412. oh well,
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  • BruceM
  • 14-Jan-2008 at 9:59 AM
  • Rep: 216k
  • Posts: 19.9k
great Alex.....When we open right at an overnight high and into an r1 level then the longside becomes higher risk to me....then we throw in the weekly pivot and fridays close as magnets to downside and it keeps me out of longs..just an fyi
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  • Stowaway
  • 14-Jan-2008 at 10:05 AM
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Looks like this is it for me for today.Got to go to my regular job, I am not a full time trader yet , have a great day Bruce, nice chating with you. TTLY.
From a CME representative with respect to the overnight spike: One account suffered technical issues which led to this situation, which is now being reviewed.
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