2016 Trading Thread - Page 87 - Business, Finances and Investing Forum

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06-23-2016 , 09:34 PM

#2151

fanmail

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 32,698

many futures markets with massive ranges tonight on possible leave

Quote

06-23-2016 , 10:30 PM

#2152

Morishita System

old hand

Join Date: Jan 2011 Posts: 1,391

Quote:

Originally Posted by Mori****a System

I have decided to become a gold bug.
Long GLD and GLD calls.
Short IEV.
Lets see how this goes.

I also shorted HSBC yesterday.
Suddenly this doesn't look ******ed anymore

Quote

06-23-2016 , 10:32 PM

#2153

ASAP17

Pooh-Bah

Join Date: May 2008 Posts: 5,882

£/$ from 1.5 to under 1.4 in a couple hours, truly a massive move. Haven't seen anything similar since the '08 crash.

Quote

06-23-2016 , 10:46 PM

#2154

:::grimReaper:::

veteran

Join Date: Jul 2010 Posts: 3,113

Wow, ES nearing 100 pt range. Love occasional moves like these. If you're in stocks, you're either puking your guts out or high as a kite.

Personally, I thought this Brexit **** was over-hyped lol

Quote

06-23-2016 , 10:47 PM

#2155

ASAP17

Pooh-Bah

Join Date: May 2008 Posts: 5,882

Quote:

Originally Posted by ASAP17

£/$ from 1.5 to under 1.4 in a couple hours, truly a massive move. Haven't seen anything similar since the '08 crash.

Now down 8% below 1.37, unprecedented.

Quote

06-23-2016 , 10:55 PM

#2156

BrianTheMick2

Long way to go and a short time to get there.

Join Date: May 2012 Posts: 19,441

VIX futures

Quote

06-23-2016 , 11:07 PM

#2157

steelhouse

banned

Join Date: Feb 2007 Posts: 6,109

Money Never Sleeps

There has got to be a lot of good British stocks for the open the pound is down almost 10% last I heard. If the market drops 20% or the adrs drop, we be getting a 30% discount. Assuming the leave vote stays.

Quote

06-23-2016 , 11:18 PM

#2158

ASAP17

Pooh-Bah

Join Date: May 2008 Posts: 5,882

Hilarious how no one will be ripping Janet Yellen now... Fed wins again.

Quote

06-23-2016 , 11:36 PM

#2159

bigt2k4

Carpal \'Tunnel

Join Date: Jul 2005 Posts: 15,296

So short for a couple days and then lots of weird volatility and then long continuous recovery afterwards for a couple months?

Quote

06-23-2016 , 11:36 PM

#2160

ASAP17

Pooh-Bah

Join Date: May 2008 Posts: 5,882

Stat of the night/day, not often you go back 30+ years... “@zerohedge: POUND DROPS TO LOWEST LEVEL SINCE 1985”

Side note: screw those zerohedge DBs who are probably popping champagne on this news lol.

Quote

06-23-2016 , 11:37 PM

#2161

jb514

veteran

Join Date: Oct 2009 Posts: 2,837

Seems like this has to be a buying opp. There has to be some big blow ups on the GBP move

Quote

06-23-2016 , 11:58 PM

#2162

ToothSayer

Carpal \'Tunnel

Join Date: Jul 2015 Posts: 13,237

Quote:

Originally Posted by ASAP17

Stat of the night/day, not often you go back 30+ years... “@zerohedge: POUND DROPS TO LOWEST LEVEL SINCE 1985”

We might see a lot of unprecedented moves today. We don't know how banks/traders are positioned on this. With leverage, an unexpected global move this size could cause any number of tail outcomes.

I'm not expecting anything in particular, but we haven't seen these kind of moves since derivatives/algorithmic trading became a large part of the market.

Quote:

Side note: screw those zerohedge DBs who are probably popping champagne on this news lol.

It's a good thing. Constantly increasing centralized bureaucracy (which is what Brussel is) chokes the life of economies in the long run. Whatever your take on this, that's a fact.

Quote

06-24-2016 , 12:05 AM

#2163

Morishita System

old hand

Join Date: Jan 2011 Posts: 1,391

Quote:

Originally Posted by jb514

Seems like this has to be a buying opp. There has to be some big blow ups on the GBP move

One idea that I have been floating is to permalong HSBC after it craters.

Quote

06-24-2016 , 12:20 AM

#2164

hapaboii

centurion

Join Date: Sep 2005 Posts: 146

Quote:

Originally Posted by jb514

Seems like this has to be a buying opp. There has to be some big blow ups on the GBP move

Could always throw out a few bids in quality names like 10-20% off closing print. Might catch some puke here or there.

Quote

06-24-2016 , 12:26 AM

#2165

ASAP17

Pooh-Bah

Join Date: May 2008 Posts: 5,882

Algos are going to go ape**** tomorrow at the open, I expect to see some flash crashing.

Quote

06-24-2016 , 12:30 AM

#2166

ASAP17

Pooh-Bah

Join Date: May 2008 Posts: 5,882

I’m so excited for the US open, will be hard to sleep (it’s the trader in me &#129297

. Plenty of careers made & destroyed in minutes.

Quote

06-24-2016 , 12:40 AM

#2167

:::grimReaper:::

veteran

Join Date: Jul 2010 Posts: 3,113

ES overnight limit down at 1999.00.
http://www.cmegroup.com/trading/equi...mit-guide.html

What's the pre-market limit down for equities?

Quote

06-24-2016 , 12:52 AM

#2168

kimoser22

Pooh-Bah

Join Date: Jan 2010 Posts: 3,839

Quote:

Originally Posted by ASAP17

Algos are going to go ape**** tomorrow at the open, I expect to see some flash crashing.

Perhaps, don't the firms running the algos write cut-off switches in case vol or other parameters are not within a certain range? Prob just manually switch them off unless they have one that specifically exploits a move like this. Also wtf British ppl...

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06-24-2016 , 01:04 AM

#2169

DrawNone

Pooh-Bah

Join Date: May 2013 Posts: 4,791

100% wait to buy next week for a novice long-term investor?

Quote

06-24-2016 , 01:05 AM

#2170

Onlydo2days

Carpal \'Tunnel

Join Date: Jun 2012 Posts: 19,949

S&P futures down 5%

Quote

06-24-2016 , 01:08 AM

#2171

Onlydo2days

Carpal \'Tunnel

Join Date: Jun 2012 Posts: 19,949

I would think they tighten up whatever they need to tighten to prevent a flash crash in the morning right?

Can't imagine it dives like back in August.

Quote

06-24-2016 , 01:28 AM

#2172

Malachii

Pooh-Bah

Join Date: Feb 2005 Posts: 4,074

Quote:

Originally Posted by DrawNone

100% wait to buy next week for a novice long-term investor?

I'm wondering the same thing myself. On the one hand, all they've really done on a political level is announce their intention to leave the EU. They still have 2 years to negotiate an exit. You'd think that if people had a weekend to digest that and calm down, there could potentially be a rally by Monday.

On the other hand, a massive sell-off in the pound can't be good for banks, and who knows where that leads.

Quote

06-24-2016 , 01:42 AM

#2173

DrawNone

Pooh-Bah

Join Date: May 2013 Posts: 4,791

yeah but doesn't the market action almost always divorce from political reality following a crash like this? If US equities get slaughtered like it looks right now, there's nearly 0 chance we see an insta-rally Monday right?

I know that may not be clear. I'm asking for indicators, intra-day Friday, that point to this being a weekend event rather than The Brexit Crash that plays out over weeks.

Quote

06-24-2016 , 01:42 AM

#2174

SootedPowa

Pooh-Bah

Join Date: Jun 2013 Posts: 3,935

Quote:

Originally Posted by DrawNone

100% wait to buy next week for a novice long-term investor?

Can't predict whats going to happen, if you do invest make sure you understand the volatility. You will certainly be getting a big discount on yesterdays prices today, but after that anyones guess where it goes next.

Quote

06-24-2016 , 01:52 AM

#2175

:::grimReaper:::

veteran

Join Date: Jul 2010 Posts: 3,113

It's not the economics that matter, it's the market that matters. (Unexpected) high volatility produces high hair cuts and margin calls, harming buying power. The market is going to sell off until prices are low enough to compensate for volatility risk. Where that level is, obviously no one knows for certain.

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