Collective Intelligence! (Monday recap)
Hi everyone. I wanted to chime in on last Fridays MIM discrepancy.
We are constantly updating the imbalances in the individual stocks that make up the MIM component. It is all done in a very efficient way throughout the afternoon. But it is a manual process. It is not a feed that emanates from an information service piped directly into a computer. It is handled by us brokers. Because of this, if there is a substantial change in the imbalances at 3:41 to 3:45EST we may not be accurate on the published imbalance as we would like.
We propose to enhance the MIM by always giving over a final imbalance here in the chat if things shift. That way you will have a chance to make a last minute adjustment. Granted, this will help, but there are no riskless trades. Changes can happen in micro seconds. That said, we will try to enhance the MIM with a verbal update if it is warranted late in the game – John M.
Snippets: Good morning and welcome to Merger Monday 1. [MRK] acquires [IDIX] for $3.85B 2. [TSN] acquires [HSH] for $8.55B 3. [ADI] acquires [HITT] for $2.00B. These announcements did little to pump up the volume in the premarket … The most important scheduled events this week are DAY 1 of EXPIRY on Wednesday and the ROLLOVER ON THURSDAY. Oh, and the Pit Bulls rule – a low the Thursday / Friday the week before the expiration.
Today started with a light 90k ESM traded on Globex, Friday’s regular trading hours (RTH’s), pit session trading range was 1949.50 – 1942.00a before settling at 1949.30 up 10.8 handles.
Today’s RTH’s, pit session, gapped 2 handles lower to 1947.50 – 1947.30 and the first 15 minutes of trade – 1947.00 to 1950.00, holding the Globex range. william_blount (08:40) add spots = 1952.5, 56, 63. After the equities opened a bit soft they got right back to the upside grind topping out at 1954.50b. Chicagostock (11:00): Just in time to lure in late buyers as 1955 obj completes – 195050–4875 support if you’re looking to get long. And that appeared to be the case as the equities quietly faded back to extend the early lows, briefly converting the opening range to resistance as the SPM held 1945.80 and slowly bounced. A sideways to slightly higher market set in. Timothy Haefke · @FuturesTNT http://bit.ly/1kexrp4
@Structuraltrading aka Kathy lunch update http://bit.ly/1xyDC1n
Saturday was the day! @Chicagostock Vol windows & Pivots webinar. Sharing the 6 month volatility and pivot levels. This is macro that entails overall bullish/bearish biases. July starts new half of year with new vol windows for July – December. Here is the recast link for Chicagostock’s webinar over the weekend http://bit.ly/TB7UAW
Following the quiet midday sideways to higher price action, the futures held the 1950 area going into the ole hour of power … The MiM – MrTopStep Imbalance Meter started out a small buy and grew to a modest $280M before fading to $190M going into the cash close. The futures traded 1949.90 area on the cash close before settling at 1950.20, up .9 handles on volume of 1M e-minis, while the [VIX] was up .42 ticks.
Is the Market Confident or Too Complacent?http://bv.ms/TB1MIX
Posted last Wednesday: E-mini 30 more handles to complete 1956 upside fib extension of 76.4% and 1844-1732 range expansion. No pullback until objective complete, breaks turning into bear traps to fuel squeeze - Chicagostock. *Take a look below for a possible match.
Posted last Monday: Posted by William Blount: IF WE CONTINUE TO GRIND AROUND 1929-32.86 CASH and 1912.5 SPOO through Wednesday then I will suggest my 4th option trade over the last 6 months – all are / have been straddles. for those who read the pre-market commentary and see the straddle strategy – what 2 prices am I looking at to tag ONE SIDE OR THE OTHER on SPOO FUTURES OR CASH b4 next friday? Carina- WB the time frame on the straddle is this Friday? NO, NEXT FRIDAY – you have a TWO EVENT CATALYST WINDOW this week.
Answer: 1954 cash or 1887 futures by SC – check out Chicagostock above – Emini 30 handles ….