Index markets open higher and sell off as Greece talks keep bouncing between resolution and failure, while the European stocks are mimicking the uncertainty as investors await transparency. Neil Mellor, a strategist in London, believes a deal is not certain, but progress has been made this week. This all follows a hard rally earlier this […]
Chicago’s futures traders will get to trade in the pits a little longer… The CME Group (CME), the world’s largest futures and options exchange said it would delay the closure of open outcry futures trading in Chicago and New York by a few days. The pits were previously scheduled to close on July 2. The […]
If I told you this was easy I would be lying. The markets sell off, and everyone thinks the world is coming to an end and that a major correction is under way, and then the next thing you know the S&P futures are ripping higher. Like it or not zero borrowing cost continues to […]
The June Quad Witch fell victim to an S&P futures that used up all its buying power, and the possibility of a Greek default. When I started to write today’s Opening Print, I did so with the idea that as the markets head into the final 7 trading days of the second quarter, some very […]
One of MrTopStep’s trading rules is that “it takes days and weeks to knock the S&P down and only one to bring it back.” For the last several weeks the S&P has been weighed down by the Greek headlines, but Wednesday’s FOMC meeting had traders switching gears to the late afternoon headlines. May I […]
Things change fast in the investing world. Just yesterday some polls showed people thought that the Federal Reserve will raise interest rates twice this year, and four times next year. MrTopStep has remained constant on a few issues, and one of them is the Federal Reserve’s push to raise interest rates this year, and that […]
Know what the ‘D’ is for?…DEFAULT! We all know what happened…On Friday the S&P closed weak, we open lower in Globex, sell off a little more, then rally to close on the upper end of the range. At the end of the day, I still feel the S&P wants to go higher, but the algos […]
Transparency, honesty, saying it like it is: that’s how MrTopStep operates. We win some, we lose some, but we get up every day to battle the markets and the robots. No one said this was going to be easy and no one said you are guaranteed to make money. We risk our own money and […]
The greek government this, the Greek government that. Yesterday the Greek ruling party said they could make a payment to the IMF and other international creditors at the end of the June. I asked how long the Greek credit squeeze has been going on and a trader from a big bank said over 10 years. […]
The World and Greece: Bank Closures Lead to Stock Markets Slipping