Hi Trades,
Thanks, !! Long time no see !!!
Yes, I understand and agree with the "Options expiry" observation and In fact I have looked at it and believe I have been able to "observe it" on options expiration - when we discussed this aspect some time ago.
I know it is getting late and may not be able to get through this now.
Also, I use Candlesticks, just easier for me to look at, maybe talk about.
For this example, the market is generally trending up, BUTTTT
I often see a bar with a "long tail" well below the close of a bar. Someone managed to "force a trade 'way down there' " that the market would not support "for very long" but it resulted in a "last trade" that would trigger stops that were in the system as "market orders". Who ever managed to force that "low trade" then could gobble up the resulting "sell's" as the market came back up.
OR continuing that logic, that "low trade" triggered more "sell orders" creating the "classic bull trap" scenario.
I do not KNOW HOW to implement a sell order such that:
If a product is trading at say 10 and I tried to sell at 8 to create a "low last trade" - I don't know how to do it, but never tried/experimented either.
Maybe if I entered such an order - Sell xyz at 8 the exchange would be happy to do it, creating a $8 last trade, triggering stop sell orders based on "last trade" and that is the end of it. I never thought that that could/would happen unless the market/product was so "thinly traded" that the first "taker" was all the way down there at $8.
These thoughts have to do with Ng, which clearly is NOT THINLY TRADED.!!
Anyway, as far as Ng goes, on an Intraday basis, it certainly looks like something is pushing that "price chart around" and quickly. Maybe I'm just chasing a "ghost" and a fund, utility/large consumer is just buying/selling and pushing that price around in what seems to be unusually, large steps ??
Thanks, Lee