Best Thread US day traders thread.
PitBull said:
Great gap up bit was sitting at $82 last I looked (for last 90mins ), big volumes traded as well, anybody care to hazard a guess as hat is happening? , thought this would eb heading further north in morning trading but so far is flat.
It's still flat because it gapped up BIG TIME. You always see that when there are big gaps, the move on the open is gonna be small and there's a lot of volume gonna go round. There were a couple of nice swings, but that's it. We might get some action towards the close. But I don't expect too much from it. Tomorrow might be a lot better when it breaks out of today's range.timaru69 said:
-Dave.
We are seeing some selling activity right now. But the bid/ask spreads are a lot bigger than usual. GOOG up to 60 cents I saw. 30 is normal. If you guys are trading. Watch out. Looks like we don't have many marketmakers at their desks right now.
-Dave.
-Dave.
There is some talk about interest rates. Bond yields are going up. There's a little bit of uncertainty in the market.samtron said:a lot of negative sentiment about this morning which is strangebecause a lot of the news was +ve?
I do know that Merril Lynch has been buying for a couple of days. BIG TIME. He's the only big buyer in the S&P. During lunchtime there are a lot of locals trying to push the market lower to hit the PAPER (banks, institutions) stops. And it works day after day for them. And all heavyweight stocks follow the index then. Like today. Not many marketmakers were behind the desk it looked like. All algorithmic systems. That's why we have the spread.
Merril bought 700 contracts this morning and he just sold because locals hit his sell stop. This is the same story every day lately. We have to wait for the next fed meeting. Than we'll see some action.
-Dave.
Yeah. That's one of the reason why I shorted AAPL and GOOG when we hit the Merril stop. They were the weakest stocks.Cigar said:
I also like to listen to the cash close. That gives you a good indication of what the opening will be like the next morning.
-Dave.
I got whipsawed a little in the last move in GOOG. Not much damage though. LOL.samtron said:Well a quite time for me to-night (but I'm just a novice (at the moment))
dvdh thanks for your posts ( nuggets ).
would you credit it goog wakes up again just before the bell! (hope you caught it)
I wonder if starbucks is still open?
Samtron, as always you're welcome. It's been a very nice day again.
-Dave.
