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I would like to know if considering the large number of traders and firms
now trading electronically if you, Earl & Tim, believe it is still possible
(other opinions welcome too!!) for the locals to move the market? I should
think it would be nearly impossible for them to have a major effect nowadays
like they were able to in the past. Comments?
Regards, Randall
----- Original Message -----
From: "Timothy Morge" <tmorge@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, April 30, 2001 14:49
Subject: Re: [RT] E*Mini S&P update
> Earl:
>
> Well...I'd like to lie and say it didn't bother me. But having missed the
> move up Friday-early today, I am willing to risk the 5 pts to new highs. I
> liked that it tested the 1270 area several times before lunch and could
not
> break through...leaving that cluster of lows.
>
> It's 1;48 cst and S&Ps are at 1255. I am still short and I've moved my
stop
> down to 1263, which is a touch above the overnight gap. If further new
lows
> occur, I'll keep ratcheting my profit stops lower.
>
> Tim
>
>
> At 12:41 PM 4/30/01 -0600, you wrote:
> >Tim, Good trade. I note that break occurred at 1240 Chicago - aren't you
> >leery of entering breakouts which occur during the thinly traded lunch
> >period? The locals seem to pretty consistently drive the premium one way
or
> >the other around 12:30 which more often than not results in a false move.
> >
> >Earl
> >
> >----- Original Message -----
> >From: "Timothy Morge" <tmorge@xxxxxxxxxxxxxxx>
> >To: <realtraders@xxxxxxxxxxxxxxx>
> >Sent: Monday, April 30, 2001 12:11 PM
> >Subject: [RT] E*Mini S&P update
> >
> >
> > > Good afternoon, RealTraders!
> > >
> > > With the strength both the Nasdaq and S&Ps were showing on the
opening, I
> > > remained flat--I was leery of this upmove and was not bullish.
Obviously,
> > > they have both shown more strength than I thought they would this
morning.
> > >
> > > But once prices tested 1275 in the S&Ps, I began running a stop sell
entry
> > > at 1269 1/2. I am now short at 1269 1/2 with stops at 1275 3/4 and
first
> > > logical target at 1262 1/2, second LPO at 1260.
> > >
> > > Best,
> > >
> > > Tim Morge
> >
> >
> >To unsubscribe from this group, send an email to:
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> >
> >
> >
> >Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
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>
>
>
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>
>
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