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Buxton ND | JC , HFT DO NOT defend anything, their in and out during the day, sometimes at speeds I don't think any of us the really comprehend. Most are all per-programmed before trade opens and the computer just does it thing. Most likely leave the end of the day near NET ZERO. No position on by days end, in theory they could trade 100-200-300 contracts per day with $500.00 in their account. No positions at days end,,, no margin requirements right ? Or at least for you or I.
Beans shot up .26 in the first 45 minutes of trade today. Then basically did NOTHING til the last 45 minutes. In the end,,, made a lower low and a lower CLOSING low *****as its been doing since the report***** If you really think that's a rocket man run away bull I have a bridge I'll sale you.
3 days left til the long relaxing weekend, RELAXING is the key. Some traders will want no positions on so they can actually RELAX and not worry about how its gonna open next week. My guess is we have a fair amount of the average Joe's long with in .10 to .20 of the highs. These Joe's are under water and on margin call they wanna be able to have a relaxing weekend also.
When beans started this rockin and rollin rally I said it probably wouldn't be over til we traded limit up and/or limit down. We've had the limit UP all what's left is the limit DOWN. Think we can not do that, again the bridge deal. | |
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Rocket Man!!
