{"id":2502,"date":"2009-11-11T16:15:24","date_gmt":"2009-11-11T21:15:24","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=2502"},"modified":"2009-11-11T16:23:18","modified_gmt":"2009-11-11T21:23:18","slug":"buy-the-tanking-futures-program","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/buy-the-tanking-futures-program","title":{"rendered":"Buy the Tanking Futures Program"},"content":{"rendered":"

When trading we watch a stock’s corresponding futures or index. \u00a0For MON the stock I was trading on the Open, SPY is my corresponding index. \u00a0Generally when SPY trades higher MON should and when SPY trades lower then MON should follow. \u00a0I say generally and this was not the case at one very important moment today.<\/p>\n

Again MON was very strong. \u00a0It was above yesterday’s resistance of 74. \u00a074 also was a longer term resistance level. \u00a0MON was In Play due to its conference yesterday and sharp move from 70-74 into yesterday’s close.<\/p>\n

MON was in an intraday uptrend. \u00a0It found some resistance finally at 76, and then traded down to 75.55. \u00a0At this 75.55 level there was an important battle. \u00a0The sellers won and MON headed for lower ground. \u00a0Those well versed in intraday technical analysis (ME!) expected a move to at least 75, the next intraday support level. \u00a0In the words of the Rolling Stones,”You can’t always get what you want.”<\/p>\n

MON had cracked the important 75.55 level. \u00a0And then seemingly fortunately for the shorts, the futures and indexes started tanking. \u00a0Should I have a salad for lunch of maybe some soup? \u00a0 \u00a0SPY tanked. \u00a0I am gonna go with the salad. \u00a0SPY broke the AM support of 110.10. \u00a0I am gonna get the Big Salad. \u00a0SPY violated the longer term support of 110 (past resistance becomes support). \u00a0SPY quickly found 109.80.<\/p>\n

And so what happened to our MON? \u00a0It tanked through 75 right? \u00a0Not exactly. \u00a0A buy program was turned on, which I will now name Buy the Tanking Futures Program. \u00a075.41 stuck the bid. \u00a0What? \u00a0MON then was pushed through 76. \u00a0 Just another fun program brought to you by HFTs.<\/p>\n

Anyway that is their game. \u00a0This is the same principle as the Buy the New Low Program or Sell the New High Program. \u00a0The program takes the other side of a trade that has traditionally worked and then forces the short term traders out of their trades laughing all the way to the bank.<\/p>\n

Best of luck with your trading! Don’t forget to follow us<\/a> on Twitter!<\/p>\n

\"MON<\/p>\n

\"SPY<\/p>\n","protected":false},"excerpt":{"rendered":"

When trading we watch a stock’s corresponding futures or index. \u00a0For MON the stock I was trading on the Open, SPY is my corresponding index. \u00a0Generally when SPY trades higher MON should and when SPY trades lower then MON should follow. \u00a0I say generally and this was not the case at one very important moment today. Again MON was very … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,10],"tags":[383,333,289,18],"class_list":["post-2502","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-futures","tag-hft","tag-mon","tag-smb-capital","no-post-thumbnail"],"yoast_head":"\nBuy the Tanking Futures Program | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/buy-the-tanking-futures-program\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buy the Tanking Futures Program | SMB Training\" \/>\n<meta property=\"og:description\" content=\"When trading we watch a stock’s corresponding futures or index. \u00a0For MON the stock I was trading on the Open, SPY is my corresponding index. \u00a0Generally when SPY trades higher MON should and when SPY trades lower then MON should follow. \u00a0I say generally and this was not the case at one very important moment today. 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