Feb
7
A Nice 3 Point Range, from Victor Niederhoffer
February 7, 2012 |
A nice 3 point range [in s&p futures] from high to low on the half hourly prices yesterday [February-06-2012]. How could money be lost in required quantities [by the public] with such small volume and small swings. Perhaps the answer is that after big two year maximus, where your "banker" is providing liquidity in unprecedented amounts, you don't need to nickle and dime the public to cover your overhead the next day or two.
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That sort of range and behaviour of price is anything but bullish, especially immediately following “positive” news. Todays open seems as good a time as any to dump any remaining long positions and start to nibble the short side. ES 44 bid.