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02/06/2018 Live Update

Re: 02/06/2018 Live Update

Postby Al_Dente » Tue Feb 06, 2018 1:45 pm

“XIV trader: 'I've lost $4 million, 3 years of work and other people's money'
“I started with 50k from my time in the army and a small inheritance, grew it to 4 mill in 3 years of which 1.5 mill was capital I raised from investors who believed in me," …[he]… explained, adding that those "investors" were friends and family.
"The amount of money I was making was ludicrous, could take out my folks and even extended family to nice dinners and stuff," he wrote. "Was planning to get a nice apartment and car or take my parents on a holiday, but now that's all gone."
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Re: 02/06/2018 Live Update

Postby Daniel » Tue Feb 06, 2018 1:52 pm

Quick note to all of us chart readers-- the range expansion is so enormous that it takes concentration to make the mental adjustment. The gridlines-spacing on Cobra's basic 5min SPY chart is now $1 per line!!

Not long ago that was 5cents.

So little movements on the chart are actually sizeable profit opportunities. Position sizing can be greatly reduced.
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Re: 02/06/2018 Live Update

Postby JFR » Tue Feb 06, 2018 1:55 pm

Back down to the pivot. We will see if it holds.
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Re: 02/06/2018 Live Update

Postby daytradingES » Tue Feb 06, 2018 2:06 pm

(re: anon VIX trader)

Gann wrote:

1. never have more than 1/10 of your capital at risk in anyone trade.
2. when you have a big win put 1/2 of it in an emergency fund and trade only with the balance.
3. first put in your time in study before your money in the market.
Good trading to all
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Re: 02/06/2018 Live Update

Postby Daniel » Tue Feb 06, 2018 2:09 pm

SPY flat on the day. Would be funny if it closed here... just another boring February day in the market.
:|
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Re: 02/06/2018 Live Update

Postby Al_Dente » Tue Feb 06, 2018 2:21 pm

daytradingES wrote:(re: anon VIX trader)
Gann wrote:
1. never have more than 1/10 of your capital at risk in any one trade.
2. when you have a big win put 1/2 of it in an emergency fund and trade only with the balance.
3. first put in your time in study before your money in the market.

EXCELLENT :D
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Re: 02/06/2018 Live Update

Postby 1der » Tue Feb 06, 2018 2:22 pm

QUOTE CNBC Article:
Specifically, Mnuchin said he checked with this staff to "make sure there was orderly market activity. ... I'm happy to report that I got the green light."

I would not classify the last ten to fifteen minutes of yesterdays ES regular session or post close as "orderly". :shock:
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Re: 02/06/2018 Live Update

Postby fehro » Tue Feb 06, 2018 2:31 pm

XIV opens
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Re: 02/06/2018 Live Update

Postby Al_Dente » Tue Feb 06, 2018 2:32 pm

1der wrote:QUOTE CNBC Article:
Specifically, Mnuchin said he checked with this staff to "make sure there was orderly market activity. ... I'm happy to report that I got the green light."
I would not classify the last ten to fifteen minutes of yesterdays ES regular session or post close as "orderly". :shock:

Mnuchin is ex-GS, he knows better
That’s his same staff who were working 24/7 for a week to come up with a one page analysis of the tax cuts
He’s probably now scrambling to cover stuff in his BLIND trust
Or he’s just asking his trophy wife
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Re: 02/06/2018 Live Update

Postby Trades with cats » Tue Feb 06, 2018 2:37 pm

Back into the 2640 area yet again.
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Re: 02/06/2018 Live Update

Postby Shaishen » Tue Feb 06, 2018 2:42 pm

1der wrote:"

I would not classify the last ten to fifteen minutes of yesterdays ES regular session or post close as "orderly". :shock:



Depends on definition of orderly. There was no flash crash or any malfunction. Imo it was simply an unexpected sell off, brisk deep sell offs are unexpected. If they were expected there would be no rapid deep sell off. The unprepared will suffer the consequences.

Every fin news outlet will feature all kinds of reason what triggered the sell off. All hindsight, it is being said the market makes the news not the other way around.

I mentioned gaps yesterday and the theory that all gaps get filled eventually. The 11/21/2017 gap seemed so far below I considered it outlandish to ever get there yet it happened in one swoop in less than 24 hours.

.
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Re: 02/06/2018 Live Update

Postby 1der » Tue Feb 06, 2018 2:49 pm

Shaishen wrote:
1der wrote:"

I would not classify the last ten to fifteen minutes of yesterdays ES regular session or post close as "orderly". :shock:


Depends on definition of orderly. There was no flash crash or any malfunction. Imo it was simply an unexpected sell off, brisk deep sell offs are unexpected. If they were expected there would be no rapid deep sell off. The unprepared will suffer the consequences.

Every fin news outlet will feature all kinds of reason what triggered the sell off. All hindsight, it is being said the market makes the news not the other way around.

I mentioned gaps yesterday and the theory that all gaps get filled eventually. The 11/21/2017 gap seemed so far below I considered it outlandish to ever get there yet it happened in one swoop in less than 24 hours.
.


True enough. The markets remained open, processing trades. It was the liquidity that evaporated.
I was caught off guard by the 10 point plus instant step drops in the ES. I was unprepared for that type of move and suffered the consequences.
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Re: 02/06/2018 Live Update

Postby Shaishen » Tue Feb 06, 2018 3:01 pm

1der wrote:
True enough. The markets remained open, processing trades. It was the liquidity that evaporated.
I was caught off guard by the 10 point plus instant step drops in the ES. I was unprepared for that type of move and suffered the consequences.


Talking about unprepared, I forgot (go figure) that I had a BTC buy order which got filled on the way down when I was walking my dog. :o

With the VIX situation I wonder how Seth Golden @SethCL got thru this (he claims he is fine...)

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Re: 02/06/2018 Live Update

Postby Cobra » Tue Feb 06, 2018 3:03 pm

i don't think it'd be 100% mm (pink), the pullback might be bought.
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Re: 02/06/2018 Live Update

Postby Trades with cats » Tue Feb 06, 2018 3:07 pm

Futurestrader 71 had a lot of screenshots of Bookmap software in his morning briefing today. It was crystal clear the bids and asks away from price were all pulled when the market hit 2700. No way all those algos have the same programing so it has to be an agreement with the exchanges, part of the hunting permit they have to have to front run all our trades. It will be very educational to see at what point the exchanges allow the "liquidity providing" machines to be turned back on. Apparently the markets are too weak to allow the leeches to re-attach.

My fantasy would be someone in congress to hall the heads of the exchanges in and asks why the algos they so vigorously defend had to be turned off during the crisis. But we live In an era where a single bank pays 14 billion in fines for rigging markets but the CEO is still ion charge while a person living in his parents basement goes to jail, in an era where congressional aides are allowed to legally trade on non-public information but a TV personality goes to jail, well I don't need to continue.

It is what it is, we know the game is rigged we are free to play or leave as we see fit, but that doesn't stop me from wishing it was a little more fair. Going on vacation in two weeks, I guess I better re-read Jesse Livermore's bio sitting around the hotel pool to remind me that it has always been this way. :P
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Re: 02/06/2018 Live Update

Postby Shaishen » Tue Feb 06, 2018 3:15 pm

Always longed for the opportunity to draw one of those zerohedge doom arrow charts...
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Re: 02/06/2018 Live Update

Postby brokebybernacke2 » Tue Feb 06, 2018 3:20 pm

not really what i want to see here...could get pukey again -market has flu i think :)
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Re: 02/06/2018 Live Update

Postby fehro » Tue Feb 06, 2018 3:30 pm

be very careful.. looking for a possible shocking up move near end of day.. target sloppy pattern SPY 275 .. need serious break up 5m
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Re: 02/06/2018 Live Update

Postby Shaishen » Tue Feb 06, 2018 3:30 pm

Trades with cats wrote:Futurestrader 71 had a lot of screenshots of Bookmap software in his morning briefing today. It was crystal clear the bids and asks away from price were all pulled when the market hit 2700. No way all those algos have the same programing so it has to be an agreement with the exchanges, part of the hunting permit they have to have to front run all our trades. It will be very educational to see at what point the exchanges allow the "liquidity providing" machines to be turned back on. Apparently the markets are too weak to allow the leeches to re-attach.

My fantasy would be someone in congress to hall the heads of the exchanges in and asks why the algos they so vigorously defend had to be turned off during the crisis. But we live In an era where a single bank pays 14 billion in fines for rigging markets but the CEO is still ion charge while a person living in his parents basement goes to jail, in an era where congressional aides are allowed to legally trade on non-public information but a TV personality goes to jail, well I don't need to continue.

It is what it is, we know the game is rigged we are free to play or leave as we see fit, but that doesn't stop me from wishing it was a little more fair. Going on vacation in two weeks, I guess I better re-read Jesse Livermore's bio sitting around the hotel pool to remind me that it has always been this way. :P



Great post!

Like her or not E Warren was the only one who dared to ask deep digging uncomfortable questions but nothing ever came out of it.

All those hearings ("grilling") are dog and pony shows.

How is the equifax management doing? We are being promised, always, that "they" will get to the bottom of the matter to make sure it doesn't happen again :lol:

.
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Re: 02/06/2018 Live Update

Postby Junior Buffett » Tue Feb 06, 2018 3:36 pm

fehro wrote:be very careful.. looking for a possible shocking up move near end of day.. target sloppy pattern SPY 275 .. need serious break up 5m


That's almost reversing whole move from yesterday! i.e. point wise..
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