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Tim, Earl, Ira and others,
Thanks for your perspectives regarding my question.
Regards, Randall
----- Original Message -----
From: "Ira Tunik" <irat@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, April 30, 2001 18:01
Subject: Re: [RT] E*Mini S&P update
> They don't need a major effect. If the futures market gets thin they can
run
> the S&P after putting on positions in the Emini and then offer e mini
higher or
> lower depending upon which way they are taking it. then give up their S&P
> contracts. They can, they didn't before, use options as a hedge and then
try to
> run the markets.
>
> Randall Carson wrote:
>
> > 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
> > > >
> > > >
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> > > >
> > > >
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> >
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