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The Underground Trader: "A Pretty Good Call I Think"

September 9, 2010

by The TopStock Team

The Underground Trader

We wish to introduce a new periodic feature to TSP Flash Alerts: The Underground Trader. These posts are authored by a long-time friend and colleague who specializes in trading futures and options. The Underground Trader is a very close watcher of the indices and is a market junkie who cruises message boards, trading groups, news feeds and opinion sites for any edge he can get. Do not bet the ranch on any of his comments but they are usually interesting and definitely food for thought.

From The Underground Trader:

    A PRETTY GOOD CALL I THINK. I posted earlier today how "futures rollover day" can lead to extreme choppiness and many "pro" traders will just take the day off. This proved to be absolutely true today as the S&P December futures opened last night at 1094.25 and closed at 1098 this afternoon. The cash DOW moved all of 28 points. A nothing day you say? However, I calculate that the S&P futures had moves today of 71 points from lows to highs to lows to highs and back to lows....you get the picture. Such days can potentially frustrate the best of traders, with headfakes galore.

  S&P 500 - Last 5 Years
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      S&P 500 - Intraday
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      S&P 500 - Last 12 Months
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    Disclosure - Mr. Moenning owns positions in securities mentioned: None

    Note: Observations by the Underground Trader should not be construed as trade recommendations, but rather are reports on marketplace activity and his view on the subject.

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