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[RT] [Fwd: Re: [Fwd: GEN: Floor Trading Activity]]



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  The DOCTOR wrote: 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. BobR wrote: 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
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From:The DOCTOR To: realtraders@xxxxxxxxxxxxxxx Sent: Monday, June 19, 2000 8:58 AM Subject: [RT] [Fwd: GEN: Floor Trading Activity] 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.