Sep

20

A Swing and a Miss, from Craig Mee

September 20, 2010 |

soybeansI watch Soybeans and Wheat rally from the open of the electronic session, then finally back off the highs after two to three hours of trading.

I wonder if a market moves a "significant amount" from the open, (especially on a Monday in grains weekend weather), then eases back just off the highs, what are the chances that Europe is going to come in (Oh gosh, check out Dec, Nov Soy) and have have a swing for the highs.

Well they did today, they had a swing for the highs and missed. Then the market proceeded to be offered. Now we wait for the main session.

I wonder if we can get a home run… or whether it's back to the dug out.

LATER: 

Looks like it was back to the dug out today on this one!

Though it does pose the question–after x significant move early, and then x- small percentage pull back in Asia, if opening of Europe high of x is not taken out, and soldiers retreat for U.S.open, if in first 15mins no bid tone emerges in U.S, what percentage of times does the market retrace for the session?

No doubt you could add all sorts of filters incuding previous days surge, and over what x = to significant move….

Arrrr systems! Sometimes it's easier to trade other ways, but you can't help thinking. 


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