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This is kind of a dumb question.
The Dec S&P futures encountered alot of supply at the 50% retracement
area or 1070.
>From what I have gathered from the preceeding comments on this
particular thread, alot of people were hurt and blown out. The fact
remains that some "force" had the presence of mind to sell at 1070.
Is the supply the result of resting orders to sell at this place? Or
is there alot of
big money that in less than five minutes figures out to sell at the 50%
retracement?
Thanks in advance.
Don Thompson
Chris Lober wrote:
> That is the real concern with the Greenspan announcement. For daytraders,
> there really was no way to protect themselves. I have no idea how much
> paper got filled on the way up after the announcement, but there is a pretty
> good chance that regardless of where a stop was placed, that it would have
> been filled at the high of the spike. That is a scary thought. This sort
> of move happens very infrequently, but is a good example of where stops can
> do very little in controlling risk. ......
> Chris Lober
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