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<DIV><FONT size=2>If there were any constant in the markets its the daily volume
patterns. There has never been a day where the volume per minute has been
a flat line from open to close, except when the exchange is closed.
It always dips into mid day, always. Overnight orders and EOD
decisions affect the AM volume. PM is for profit taking and tape painting,
especially the last hour cleanup activity by the pros.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>BR</FONT></DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV>----- Original Message ----- </DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
The DOCTOR
</DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A
href="mailto:bobrabcd@xxxxxxxxxxxxx"; title=bobrabcd@xxxxxxxxxxxxx>BobR</A>
</DIV>
<DIV style="FONT: 10pt arial"><B>Cc:</B> <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx</A> </DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Monday, June 19, 2000 9:27 AM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> Re: [RT] Re: [Fwd: GEN: Floor
Trading Activity]</DIV>
<DIV><BR></DIV>Did you ever think it is a self fulfilling prophecy? It
can also occur at other times during the day. What most likely happens
is that some investors go to lunch. The floors and pros don't.
<P>BobR wrote:
<BLOCKQUOTE TYPE="CITE">
<STYLE></STYLE>
Maybe virtually no one leaves the floor, but the trading rate in terms of
millions of shares per minute definitely dips to about 1.5 million shares
per minute over the mid day after starting the day around 4 million and
ending between 3.5 and 4 million. They may not leave the floor, but
someone's trading is concentrated in the early AM and late PM. Some
trading decisions are being made in those early and late hours that affect
volume. BobR
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
<DIV style="FONT: 10pt arial">----- Original Message -----</DIV>
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B><A
href="mailto:droex@xxxxxxxxxxxx"; title=droex@xxxxxxxxxxxx>The
DOCTOR</A></DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx</A></DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Monday, June 19, 2000 8:58
AM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> [RT] [Fwd: GEN: Floor
Trading Activity]</DIV>
<P>The DOCTOR wrote:
<BLOCKQUOTE TYPE="CITE">None of this is true. Virtually no one
leaves the floor for lunch ... and those <BR>that do are not the senior
traders. Upstairs trading desks and hedge funds <BR>either get
lunch at their desks. Many of the best trading firms have kitchens in
<BR>house just to assure no one leaves. If you stood in front of
the CBOE, NYSE or <BR>CME at lunchtime you would see more people on the
street than at other times, <BR>but they are no decision makers.
<P>Ross Kovacs wrote:
<P>> This comment/question was triggered by the previous "Market
Outlook" thread <BR>> shown below: <BR>> <BR>> I had always
attributed market movements around 11:30 am EST time to floor <BR>>
traders trying to put some balance in their positions before they take a
<BR>> lunch break. I've never worked on the floor of an
exchange, so I would <BR>> appreciate seeing any comments from RTs
that have worked on exchanges. <BR>> Assuming floor traders must obey
natural human needs (eat sometime during <BR>> the day, go to the
restroom, etc.), what impact do these activities have on <BR>> market
movements? I can obviously see volume thinning during mid-day, and
<BR>> have usually discounted price moves that occur during lunch
periods. Are <BR>> their other things that an off-floor trader
should be aware during lunch <BR>> periods? The "11:30 am EST
time when most European markets close and their <BR>> participation
in our day session is ended" effect is a separate event I was <BR>>
not aware of. Any other "off-floor" events at this time that can
affect <BR>> market movements? <BR>> <BR>> If you are a trader
in an open outcry market, how do you reestablish your <BR>> physical
position in a trading pit or at a trading post when you've had to
<BR>> give in to the demands your body makes during the day? <BR>>
<BR>> Ross Kovacs <BR>> <BR>> rossrk@xxxxxxxxxxxxxx <BR>>
<BR>> In a message dated 6/17/00 9:00:25 PM Pacific Daylight Time,
<BR>> wl7bdn@xxxxxxxxxxxxx writes: <BR>> <BR>> << There
is a six to eight dollar move around that time almost exactly EVERY
<BR>> DAY. In fact a 6 pt move is one of the highest
probability and most common <BR>> moves in the contract.
Irrespective of the tide tables. <BR>> >> <BR>>
<BR>> Michael,...Thanks for stating the obvious regarding Norman's
"Market <BR>> Outlook". Also intraday pivot often
occurs around the 11:30 am EST time <BR>> when most European markets
close and their participation in our day session <BR>> is
ended. Not a big deal. There is much that could be discussed here
about <BR>> intraday turning points,..etc., but I think
Earl was looking for the <BR>> Market <BR>> Outlook of
others,...meaning what to expect over the next days and <BR>>
weeks..etc. Thanks again. Regards, JIM
P.</P></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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Subject: [RT] help
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Status:
is there any way of drawing a vertical line on a chart and then having the
line stay there as you draw other vertical lines??? there should be some
simple ela code for this somewhere out there I would think
thanks
Mike
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