Ouchey Pinchey Cadroney!!!! The retail sales number was horrible,
Stock futures mixed after jobs, retail sales data (AP) , -.3% VS +.5% "expected", the futures responded by dropping 8 pts on the DOW, HAHAHAHAHAHAHAHA! Please, get me outta here.
Ivica is going to have his trading room open to every one tomorrow,
http://www.ivicatradingcharts.com/ , if you have the time, check him out.
Boyd brought this to my attention, that is, the 228,000 contract block trade in the ES yesterday, at 12:03ET, it was picked up on by ZERO Hedge,
http://www.zerohedge.com/article/fed-finger-more-observations-esh0-incident , and then I get my daily email from Larry Levine this morning, hahahahaha, the reason I read Larry is because he's as much of a conspiracy nut as I am, but he's a big player right on the floor of the CBOE, and I guess the order just about caused a collective gasp from every one on the floor yesterday:
Larry Levin's Nightly Newsletter & Trading Signals
12:03 p.m. EST
What happened at 12:03pm Eastern Time? There were no reports out, the 10-YR Note auction wasn't until 12pm, and the S&P500 was a bit stonewalled just under 1137.00 after a rally from the day's low. As the market advanced slowly through the congestion it hit: a MASSIVE order, or series of orders, lifted the offer in the e-minis. But it wasn't your garden variety large order of 2,000 mini's - I'm talking about 114 times that size.
At 11:03am today at the Chicago Board of Trade (12:03pm EST) over a quarter of a million mini-S&P500 orders traded north of 1137.00! (228,000 last count)
I looked at the attached chart in disbelief. (Please see attached chart for more info.)Could this be real I wondered? Was it some sort of computer malfunction that added too many zeros to the reported, yet smaller, trades?
No, that's not what happened. In fact, a bit of a hullabaloo occurred around my trading booth on the floor of the CBOT as many locals, brokers, and compliance members stared at the aforementioned volume chart in disbelief. As it turns out, all of the trades were indeed valid. None were busted. Moreover, as one of the compliance members told me, he saw the trades listed sequentially (1,000 or 2,000 lot orders) and they all occurred with milliseconds of one another until the massive order was completed.
This order size takes a SERIOUS bankroll to get done. If you are wrong by one-point on a 228,000 lot ES order, you can say goodbye to $11,400,000.00. If you contemplate this size your margin requirement is $1,282,500,000.00, while the notional value is $12,961,800,000.00.
Has a new "playha" hit the scene? Is his nickname "Helicopter?" Has high frequency trading (HFT) taken root in the mini-S&P in a huge way?
In the end it may turn out to have been a "cross trade," where one institutional firm prearranges a large order with another to clear it in an orderly fashion.
As of now I don't have a firm answer, but whether it was HFT activity, the "Helicopter," or a massive cross trade, it sure set the bottom in for the afternoon. Everyone in the Dow, Nasdaq, and S&P pits were talking about it and nobody was willing to sell into that massive bid.
Trade well and follow the trend, not the so-called "experts."
Sysin was yelling at me last night, because I guess at one point ALL of the various FOREX series were ALL UP, WHICH, IS A PHYSICAL IMPOSSIBILITY!!
What I'm trying to say is, is there's some seriously weird shit going on in the markets right now, futures are up slightly this morning, I guess because of this
Record year for foreclosures as unemployment rises (AP) , plus, weekly jobless claims went up this morning, PLUS, everyone just loves this,
Obama to Unveil Bank Tax Proposal , which in keeping with the absolute idiots that run this country, they sit there and yell and scream at the banks for not lending more money to people that can't afford to borrow it, and then turn RIGHT AROUND, AND TAKE 120 BILLION DOLLARS AWAY FROM THE BANKS, THAT THEY COULD USE TO LEND TO THOSE PEOPLE!!!!!! PLUS, they are trying to give the impression that they are showing how TOUGH they are being against Wall Street, but in actuality, THERE AIN'T A CHANCE IN HELL THAT THAT TAX IS NOT GOING TO BE PASSED ON TO CONSUMERS!!!!
Have fun out there today in La La Land.
PS: I just had to add this in here,
http://bit.ly/8PRJlj , this is an article about AMSC, the author is quoting two SELL SIDE ANALYST who are saying to go all in on this thing. I mean, take a look at a weekly chart of AMSC, and you tell me, where you think this thing would have been a nice BUY???!!! Do YOU think it's a great buy right HERE???? You don't think that those two ANALYST are trying to sell their millions of shares, that they brought at much lower prices, TO YOU, DO YOU?????
I bring this up to point out the difference between SELL SIDE, and BUY SIDE, analyst, ChangeWave Investing had their clients piling into this thing, over a year ago, at almost the exact bottom in the stupid thing. Nuff said.