Pat,
Are you telling me that the PREM as you are phrasing it begins movement before the market opens?
I am not talking the after hours futures, I am talking the PREM that settles about 15-17 minutes after 2.
If you get the time, pull up a chart on it, look at yesterday and Fridays close.. The PREM is moving in a relative range until the market is closed. Then it really goes lower, on Friday it went into negative numbers when it hadnt all day, then on Monday it was within the range of 7 or so to 3 and change. Then after the close it tanked, when there was no action on the current contract (S&P August)
I am hypothesizing that if this is the case that it is a result of propping at the end. And what that means to me is the market is fudging the positive endings we are having. I have also seen the reverse occur, if we ended on a sell program, the PREM often rebounds and finishes up.
I am also working on my own theory as to overall sentiment. If the PREM ends strong day in and out it is bullish, bearish the opposite. When I first started watching and discussing it with you we were rolling out of the previous decline and the PREM was acting that way.
The end result of all this confusion is I think it is an important tool that might be used, and I want to use it.
As for Golf.. we played 9, it was wet and raining.. We played skins, and I lost the first 6, won the last 3. I was so mad on #7 that I finally just started trying to smash it, instead of being precise. I think it helped a little..
Are you long/short here? |
