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The DOCTOR wrote:
None of this is true. Virtually no one leaves
the floor for lunch ... and those
that do are not the senior traders. Upstairs trading desks and
hedge funds
either get lunch at their desks. Many of the best trading firms have
kitchens in
house just to assure no one leaves. If you stood in front of
the CBOE, NYSE or
CME at lunchtime you would see more people on the street than at other
times,
but they are no decision makers.
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
>
> 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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