2 Wowzers @ today. After dropping over 20 handles overnight, the ES_F nearly goes green before finishing down just over half a percent. The rise in volatility is certainly welcomed by me.
The only real report on the trading front is that Legacy_Trades announced he’s effectively doubled his “SWING SS” position in the ES_F. His “swing” book is typically of the 3 month or more time horizon. I’ve seen him make several trades in the swing futures book, but only once do I recall him getting stopped out. Other times I’ve seen him cover for +50, +70 and +85 handles. Suffice to say, he’s a quality read in this context. On this occasion, he’s doubled his position giving him an average price of 1514.75 with a stop at 1569.75. <Personally I view this as risky, since even a 3% pullback barely makes him whole on the trade and I can definitely see the market running once more before summer.> Either way, he’s a fantastic trader especially in this context so it’s worth noting his moves.
OptionsHawk tweeted a few notable option plays occurring today.
– “Nice 15K lot of GLD may $160 Calls earlier this afternoon at $1.35 to open”
– “Yelp late day buyer of 1,500 January 2014 $23 calls $5.20 to $5.30”
<I don’t know what to make of the YELP, but I fully expect to laugh at the GLD call buyer. As noted in prior posts, I’m short silver and bearish on PMs.>
HCPG noted today that often they find overnight session levels are tested in the normal market hours. Specifically, the ES_F level corresponding to ~$153 in SPY was tested overnight and they are looking for this level to be tested in the coming sessions.
ukarlewitz and CiovaccoCapital not so active today.
One of my favorite reads, Market Anthropology, came through with a couple different links today.
– Connecting The Dots (Updated 3/18).
Additionally he tweeted “CRB is rolling hard-expect silver, gold & the miners to follow w/continuation in the euro Tues”
Lastly, RobInTheBlack, one of the stalwarts in NewAge technical analysis (broadening formations), provided his followers with an open call night, charting requests. Hop on over to his stream to see if any symbols you are interested in were charted.
Futures as of 10pm EST:
2 Responses to “Evening Links 3/18/13”
elizamae
The formatting could use some work, but I really like these posts.
chivo
Thanks
Right now I am merely separating each person with 2 hits of the enter button rather than one. Any tips appreciated 🙂