|
PureBytes Links
Trading Reference Links
|
My wife wanted to attend a conference in Chicago. So while we are here I
decided to stop by the CME. The 4th floor observation room overlooks the S&P500
futures pit.
I met a woman whose husband was on the floor as a trader. She had made some
very interesting comments. Her husband is actually a patent lawyer waiting for
a job. She said that her husband liked the math involved as a trader and was
one of the few that charted 2 minute price charts in the pits. I had replied
that I have a math degree and I too like the math. She said oh. Then I bet you
know then that some of these guys get into fibinacci numbers over in the bond
pits. She said they are a bit strange.
I had always felt a bit uncomfortable when someone who uses fibonacci
retracements or Gann lines was actually trying make all securities fit into
this form of analysis. After she said that it started to make since. If the
traders on the foor are into Fibinacci, then the charts are going to reflect
that.
Dam I always learn something new when I am around the options education.
There was also anther former trader who was standing there watch. We started to
talk and he explained a bit about what was going on. He said today was a bout
half speed and he felt that tomorrow (Friday Morning) would be a good morning
to watch the open since the non-farm payroll comes out at 7:30 am before the
market opens.
Harley Meyer
meyer093@xxxxxxxxxx
|