|
PureBytes Links
Trading Reference Links
|
This comment/question was triggered by the previous "Market Outlook" thread
shown below:
I had always attributed market movements around 11:30 am EST time to floor
traders trying to put some balance in their positions before they take a
lunch break. I've never worked on the floor of an exchange, so I would
appreciate seeing any comments from RTs that have worked on exchanges.
Assuming floor traders must obey natural human needs (eat sometime during
the day, go to the restroom, etc.), what impact do these activities have on
market movements? I can obviously see volume thinning during mid-day, and
have usually discounted price moves that occur during lunch periods. Are
their other things that an off-floor trader should be aware during lunch
periods? The "11:30 am EST time when most European markets close and their
participation in our day session is ended" effect is a separate event I was
not aware of. Any other "off-floor" events at this time that can affect
market movements?
If you are a trader in an open outcry market, how do you reestablish your
physical position in a trading pit or at a trading post when you've had to
give in to the demands your body makes during the day?
Ross Kovacs
rossrk@xxxxxxxxxxxxxx
In a message dated 6/17/00 9:00:25 PM Pacific Daylight Time,
wl7bdn@xxxxxxxxxxxxx writes:
<< There is a six to eight dollar move around that time almost exactly EVERY
DAY. In fact a 6 pt move is one of the highest probability and most common
moves in the contract. Irrespective of the tide tables.
>>
Michael,...Thanks for stating the obvious regarding Norman's "Market
Outlook". Also intraday pivot often occurs around the 11:30 am EST time
when most European markets close and their participation in our day session
is ended. Not a big deal. There is much that could be discussed here about
intraday turning points,..etc., but I think Earl was looking for the
Market
Outlook of others,...meaning what to expect over the next days and
weeks..etc. Thanks again. Regards, JIM P.
|