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Ross Kovacs wrote:
> 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
Ross,
If you are a floor trader, sometimes you don't go to lunch and don't go to
the bathroom if the market is busy. If there is a mid day lull and you have
positions, you eat in the members lounge which has quote machines and is near
the trading floor.
Cheers,
Norman
P.S. This 11:30 AM thing is a contrivement. It has nothing to do with the 10:46
AM time I gave for a market turn. 11:30 AM does have to do with someone's
refusal to believe that someone would attempt to give away some money.
>
>
> 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.
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