Selling Off Late in the Day!

Selling Off Late in the Day!

by Larry Levin

There was a big time sell off yesterday in the last couple of hours. I was glad to see it, but I will say one thing: There was still a lot of institutional buying going on all the way down.

I believe big firms are trying to position themselves for what they feel will be the inevitable run back up. Even on a big down move like yesterday's there was still plenty of buying going on. There was plenty of selling that took out most of that buying (although we did rally 10 points in the S&P's off the lows.)

What we need to watch out for is if these big buying firms are wrong, because if we don't go back up they will have to get out (and sell) and that will push the market down even more.

E-Mini S&P Trades*
(before fees and commissions):

8:34 B/A Buy 81.50 = +.75, b/e

9:10 TP Sell 81.00 = +.75, b/e

10:55 OTF Sell 82.25 = -1.50 all

1:05 ID VA Sell 79.50 = +.75, +2.00, +2.00

E-Mini Russell Trades*
(before fees and commissions):

1) Buy @ 8:34am at 853.8 = +.5, +1.0, b/e

2) Buy @ 9:07am at 855.0 = -.4, +.4, b/e

3) Buy @ 9:33am at 855.5 = -.5, +.8, b/e

4) Buy @ 9:54am at 854.7 = +.4, b/e, -.2

5) Sell @ 10:18am at 854.0 = b/e, -1.1, -1.1

6) Sell @ 12:41pm at 855.8 = +.5, -1.0, -1.0

7) Buy @ 1:36pm at 842.1 = +1.5 & +1.8

8) Buy @ 1:45pm at 845.1 = +1.0 & +1.5

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