Anyone scalping the FTSE Futures??

[darktone]

What does i l ym mean?

Serious question.

 

[postman]

I think the dow is headed for a >300 fall this week.
Election jitters and the precursor to the Santa rally.

260 points 'in hours' and its only Wednesday. Better prices if your trading out of hours.
I wonder if it will go up tomorrow?

 

[piphoe]

What does i l ym mean?

Serious question.

the dow emini?

do you think it might mean this? duh

what planet are you trading on?

 

[piphoe]

i add l ym 868

 

[piphoe]

my ym trade is not coming to fruition right off, thats ok. a winning trade right off the mark is a gift,ok?

well, how often do you expect a gift

i'll add lower..

the key is to pick your basis.

every trade contributes to a basis..whether a single entry or two

 

[Maddog79er]

the dow emini?

do you think it might mean this? duh

what planet are you trading on?

So you use a y instead of an E? Are you Spanish? Or just never recovered from failing the 11+?

 

[tar]

So you use a y instead of an E? Are you Spanish? Or just never recovered from failing the 11+?

No mate the ym contract is the emini dow futures its a symbol .

 

[piphoe]

my god whatever, my trgt is 900

 

[piphoe]

my god whatever, my trgt is 900

out

 

[postman]

Here is a little bedtime story.

 

[postman]

...

 

[psaTrading]

The labor market has given signs of dynamism, wages maintained their trend of modest increases, inflation accelerated slightly, while the conditions of the other world economies apparently stabilized.

 

[joseph1986]

out

I thought I wished you goodluck in all your endeavors.....usually you say this when you never want to see a person again.

 

[postman]

Long dow 17,946.

18,000 min today.

 

[Maddog79er]

Long dow 17,946.

18,000 min today.

I'm thinking there may be a fake downturn first to shake out any remaining longs. Possibly a sharp drop and quick spike back to 18k+

 

[Maddog79er]

Long DAX 10340

 

[postman]

Long dow 17,946.

18,000 min today.

3am in New York and up 22 already, I'm done with trading during open hours, too much noise.

 

[tar]

3am in New York and up 22 already, I'm done with trading during open hours, too much noise.

Did you see the study I posted about sp500 moves overnight ?

 

[swissy]

G'day,

ftse - detect some buyers sniffing. Slightly more positive feel today.

6850 sp rez 6875. Could go rez 6900 before pulling back. lets see.

Need wider stops and smaller size...

 

[tar]

form cxo advisory...

What part of the day offers the best stock returns? Does this sweet spot vary by day of the week, time of the month or calendar month? In their july 2007 paper entitled “return differences between trading and non-trading hours: Like night and day”, michael cliff, michael cooper and huseyin gulen use transaction-level data to decompose returns for individual stocks and exchange-traded funds (etf) into four time intervals: Night (4:00 pm to 9:30 am), am (9:30 am to 10:30 am), mid-day (10:30 am to 3:00 pm), and pm (3:00 pm – 4:00 pm). Using intraday price data for the period 1993-2006, they conclude that:

Over the last decade, overnight returns are strongly positive, and daytime returns are close to zero and sometimes negative. Specifically, during 1993-2006, average overnight returns for the individual s&p 500 stocks range (depending on the averaging method) from 0.028% to 0.048%, and average daytime returns range from -0.028% to 0.002%.

This overnight/daytime effect holds for individual stocks, equity indexes, futures contracts on equity indexes and etfs. It is robust across exchanges, with the average overnight-minus-daytime return spread 0.18% for qqqq, 0.061% for dia and 0.068% for spy. (see the table below.)

average overnight returns are consistently higher than daytime returns across days of the week, days of the month and months of the year. Average overnight (daytime) returns for the s&p 500 index are positive (negative or close to zero) for all five days of the week. Overnight returns are strongly positive from friday close to monday open, reversing results from older research. For example, the average return from friday close to monday open for the individual s&p 500 stocks is 0.042%.

High opening prices that decline in the first hour of trading drive much of the effect. For example, the average return for the individual s&p 500 stocks during the first hour of trading ranges (depending on averaging method) from -0.012% to -0.036%.

The overnight/daytime effect is not due to portfolio risk (the standard deviation of overnight returns is consistently less than the standard deviation of daytime returns). Nor do timing of earnings announcements, the growth of ecns or decimalization explain the anomaly.

The following table, taken from the paper, lists the average return (in basis points) for 14 high-volume etfs during the four intraday periods defined above. It shows that average overnight returns consistently beat average daytime returns for all 14 etfs. In fact, average daytime returns are negative for 12 of 14 etfs. The table also shows that the first hour of trading is the least profitable of the four periods.

This study is a little older dating back to 2007, but more recent studies corroborate this one. In general, daytime sessions tend to be more mean-reverting or range bound, and overnight sessions tend to exhibit more momentum and persistence.

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