Trading the SPI

[Bobby]

I'm not quite sure what your asking.

Its from August just passed.

Well it needs a time-frame , is it over the last year or number of months etc''

Now saying that ,I must ask the same of Wayne's figures .

Thanks
Bob.

 

[Bobby]

Well it needs a time-frame , is it over the last year or number of months etc''

Now saying that ,I must ask the same of Wayne's figures .

Thanks
Bob.

OOh ooh, just got it !!
Please forget last post, its total cap got it, was on a different tangent of thought.

OOPs me
Bob.

 

[wayneL]

Well it needs a time-frame , is it over the last year or number of months etc''

Now saying that ,I must ask the same of Wayne's figures .

Thanks
Bob.

Bob,

It's not volume, it's the valuation of the market at a particular point in time

ie the sum of all companies - no.of shares x current share price.

Cheers

 

[Bobby]

Bob,

It's not volume, it's the valuation of the market at a particular point in time

ie the sum of all companies - no.of shares x current share price.

Cheers

Yes you're correct, I just woke up to my own crap, see post before this.
Gee's I stuffed up some to tonight, sorry to the Doc also.

Thanks for your kindness
Bob.

 

[spitrader1]

Hello Spitrader,

First ` what day are you talking about , our day there day next day ? please qualify .

As for my intra posts with W/L best to read from the start.

Take care
Bob

For example, I thought on wednesday night night not many people would have gone home confidently massively long, and if they did, they would have been short futures to hedge......dow rallies whatever, so this morning they need to cover. I wait until just before the cash opens and watch the futures market, it usually (85% win rate) follows a predictable pattern.

 

[Bobby]

For example, I thought on wednesday night night not many people would have gone home confidently massively long, and if they did, they would have been short futures to hedge......dow rallies whatever, so this morning they need to cover. I wait untill just before the cash opens and watch the futures market, it usually (85% win rate) follows a predictable pattern.

Thanks for the info Spitrader, now I will remember your response.
You will be repaid for your candidness !

Best Wishes
Bob.

 

[spitrader1]

Thanks for the info Spitrader, now I will remember your response.
You will be repaid for your candidness !

Best Wishes
Bob.

No problems, im off, hope all the dow punters remember on the opening bell to think about what the aussie market is going to do....hehehheeh, best ever!!

 

[nat]

I agree with bronte to a certain extent ,it seems the dow follows us but its just the big players positioning them selves in our market so can take advantage when the US market moves how they think or how they want it to move, australia being a small market it is easier for them to profit as easy to move one way or other to there advantage ,Bettter probabilities for them?.
Nathan

 

[spitrader1]

I agree with bronte to a certain extent ,it seems the dow follows us but its just the big players positioning them selves in our market so can take advantage when the US market moves how they think or how they want it to move, australia being a small market it is easier for them to profit as easy to move one way or other to there advantage ,Bettter probabilities for them?.
Nathan

I have to disagree nathan. The traders that move the US market in any sort of size dont bother trading the aussie market, and the bigger players that move the aussie market are small fish in the US. If we are talking just about ADR's then i agree, there are traders from the aussie market who can push around BHP and RIO in the US/LDN and then take a profit in the SPI here, but those traders would not have the same impact on the DOW as a whole.

 

[spitrader1]

For example, I thought on wednesday night night not many people would have gone home confidently massively long, and if they did, they would have been short futures to hedge......dow rallies whatever, so this morning they need to cover. I wait until just before the cash opens and watch the futures market, it usually (85% win rate) follows a predictable pattern.

watched BHP on the open this morning and there were a few big bids that didnt get filled on the open, so assuming they would have to be filled they payed up, stock went up 6 cents, the future went with it, i bought 2@ 5235, sold 2 @ 5243 for a quick scalp.

 

[Euler]

i bought 2@ 5235, sold 2 @ 5243 for a quick scalp.

again par for course ....well done and fleet-of-foot .... but where is it going. Are they playing with us now? I was expecting a good solid move above the close of SYCOM (5249), but it decided to head south. Is this reverse psychology at work? Is it a setup for a big close? Have thrown a left-fielder but maybe that's their ploy for today.

 

[spitrader1]

again par for course ....well done and fleet-of-foot .... but where is it going. Are they playing with us now? I was expecting a good solid move above the close of SYCOM (5249), but it decided to head south. Is this reverse psychology at work? Is it a setup for a big close? Have thrown a left-fielder but maybe that's their ploy for today.

not sure euler, its a tough one today, im almost happy to log out and be happy for the weekend...i wouldnt be surprised to see the market rally back up to the 5240 level, then over lunch fall by the wayside back down to 5220's before finishing around the 5230 level, but then again, and this why i only trade the open and the close, i could be very wrong.

 

[professor_frink]

again par for course ....well done and fleet-of-foot .... but where is it going. Are they playing with us now? I was expecting a good solid move above the close of SYCOM (5249), but it decided to head south. Is this reverse psychology at work? Is it a setup for a big close? Have thrown a left-fielder but maybe that's their ploy for today.

I have 2 pivot levels @49 and 54, so won't really be looking for longs till that's out of the way .

Well done this morning spitrader

 

[Bronte]

Keep up the good work lads.
Nice to see a new High

 

[mikeg]

Hi all,

I originally posted this in The SPI Pit but as of yet have not received an answer, so I thought I would try here.

Could someone please tell me what the difference is between the Futures Contract and the Cash Contract. They always seem to be the same distance apart and the charts of each seem to react the same.

Is there an advantage of trading one over the other, as in liquidity, less erratic, lower margins or whatever.

As you can guess I am new to "The Spi", so any information would be helpfull.

 

[professor_frink]

Hi all,

I originally posted this in The SPI Pit but as of yet have not received an answer, so I thought I would try here.

Could someone please tell me what the difference is between the Futures Contract and the Cash Contract. They always seem to be the same distance apart and the charts of each seem to react the same.

Is there an advantage of trading one over the other, as in liquidity, less erratic, lower margins or whatever.

As you can guess I am new to "The Spi", so any information would be helpfull.

G'day Mikeg,
the SPI is based on the cash market. The futures market will be slightly different, due to the cost of carry, which is basically whatever the interest rate is - the dividend yield of the index, multiplied by the days to contract expiry, or something like that. Sorry for the vague answer, I'm not at home today, and don't have much info in front of me

They move pretty well the same. In regards to which you should trade, I don't know how you'd trade the cash market. You can trade index options, and there is an ETF, but it's not hugely liquid like some of the ETF's in the U.S, so if you want to trade the index, then trading the SPI is the way to go.

 

[Euler]

I have 2 pivot levels @49 and 54, so won't really be looking for longs till that's out of the way .
Well done this morning spitrader

Interesting levels prof ... it looks like it may be giving a long signal as I write ... but may be short lived or scalp. But as spitrader said ... "this why i only trade the open and the close" ... and he seems to be correct many more times than the opposite. So I don't trust it, and will be back for the post lunch merriment.

 

[mikeg]

Thanks Prof, as I mentioned, I still have a lot to learn.
Have already learn't a lot from all the information that can be gleened from many of the Posts.

 

[professor_frink]

Interesting levels prof ... it looks like it may be giving a long signal as I write ... but may be short lived or scalp. But as spitrader said ... "this why i only trade the open and the close" ... and he seems to be correct many more times than the opposite. So I don't trust it, and will be back for the post lunch merriment.

Here's the visual for what I was talking about earlier. Daily Pivot @22,R1@49 and weekly R1@54.

Not much action for young professor types today

 

[Bronte]

Nice to see a new High

Todays SPI chart: