Today was interesting. Started my morning off listening to s&p 500 Chicago pit. I realized something today. The overnight futures market turned red this morning prior to NY open. We've been in the red as of late, so, its not a surprise to see it red. However, shortly after open, it flies up!!! Listening to the pit I am hearing orders from Big players like JP and their orders right..
When you have huge players with tons of money (hedge funds), who are they going to sell their positions too.. They need to create a market. So, if I was a big hedge fund manager and I wanted to setup a frenzy that I can buy into or sell into.. What would I do?
I would short futures prior to NY Open and when the speculators see all this red during the open it creates a shorting frenzy! What happens.. Well, 30 min later the same Hedge fund that was shorting futures prior to open, runs in and starts longing and wiping all the short players off the table! These are the smart money players and you DO NOT want to play against them. First 30 of the day, even up to the first hour is too unpredictable..
Anyhow, we've seen equities holding up today.. Seen T notes drop as they should.. Meaning today was a good day for yen pairs to gain some speed up. (Yen Pairs means yen weakness) and I will tell you! We saw it for sure. I constantly longed gbp/jpy and usd/jpy today. I reloaded on pullbacks and sold on 5 8 crossovers. Really, great day!
Heres a picture of my current trade. Sorry, its hard making charts for every trade I make.
This one is a eur/usd short inside of a symmetrical triangle with downside bias. I am currently up 50 points or so..
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