August 5, 2011 Mr Top Step Video


by mrtopstep

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http://mrtopstep.com - Mr Top Steps Danny Riley chimes in on the recent sell off in the S&P 500; Riley says "the S&P has been down 9 out of the last 10 days for a total of a 150 handle loss". Riley also talks about how the SPU and the ESU settled at the 1198.70 level, sold off down to 1183, short covered to unchanged to higher before the 7:30 ct release of the jobs number and than rocked higher all the way up to 1319.00in the ESU and 1121 in the SPU. Riley says "the pit sold the open and Credit Swiss sold 2k SPUs early, than a rumor about a possible S&P down gread hit the floor and the SPU and the ESU sold off all the way down to the GLOBEX lows at 1193" A 32 handle sell off in the fist hours of trade. Riley also talks about the high levels of program trading and how they S&P cant hold a rally and every time it dips the premiums slip and in come the sell programs. Riley says we need a PPT rally...


**Filmed on the trading floor at the CME Group. Produced by MrTopStep with MarketHEIST