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This is more than just short covering
this was part of the option expiration transaction
remember, majority loose on expiration day
currently they are put buyers
Ben
----- Original Message -----
From: "Deosaran Bisnath" <deobisnath@xxxxxxxxx>
To: <e-mini_traders_anon@xxxxxxxxxxxxxxx>; <Realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, October 19, 2005 7:48 PM
Subject: [RT] My impresson is that many had a bad day
> Just a few observations, all of us have bad days, and good days.
> Am simply stating my take on the disillusioned mood of a few traders
> I know, and a few trading sites. Daytraders may have escaped unscathed, I
> barely made it into positive zone, mainly because I was not a believer for
> most
> of the day, even though the market was warning us in no uncertain manner.
> But,
> when NASDAQ futures relaunched above 1560, I was convinced this was headed
> much
> higher. Huge amounts of stops were hit, new shorts entered, all the way
> up,
> especially the rally from 1182 to close. Massive daily candle, a KEY
> reversal
> day, is it? Pre-Option Expiration Wednesdays are usually wildly volatile,
> but
> this one was about the most volatile for some time.
>
> As usual, it was the big guys who initiated this move and they were the
> big
> winners.
>
>
>
>
>
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