mayhem monday..., page-90

volt, a DP is a Deep Pockets intervention. Sometimes i use it loosely when it could be legitimate market action but ever since the sfe maintenance closure at the low i've noticed these sudden mostly high volume long spi trades right at times when upside momentum seems to be fading, on an intraday basis, or sometimes when downside momentum id gathering force. Have no idea who DP is, but they are trades no trend follower would take usually.. so its someone with enough dollar muscle to actually determine the direction of the market.. I think there was one today because there was a very high volume long trade came out of nowhere and generated the hammer I mentioned.. I've also observed that once this intervention occurs, if its just once in the day, almost invariably the market closes higher than that trade even if it slips a little immediately after the DP intervention. In the earlier stages of the current rally I saw what I believe to be DP interventions several times per day on many days, but today there was just one, and it doesn't strictly fit my criteria. My comments came out of my extensive observation of the market over many years, particularly spi, and noticing these earlier bold green bars I started to wonder, cos it was never a trade i would do, who would do these trades, why, how much does it cost them, and how come they are not bothered with the risk of counter trend trades? The answer was obvious: its someone with very deep pockets. Since then I've found other traders discussing the same phenomenon in different markets.. it seems the usa traders have been noticing this stuff for a couple of years, and are peeved cos its doing them out of half their income.. the short side income. I think there is probably a connection between what I call DP and others call PPT. cheers!