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I only feel wasting my time with people like you....
2bit
Like I say I don't post my trades but only my opinions. I post trades when people like you might think I don't put money on what I believe. I don't have to prove to you or anybody else, my system or logic. Therefore you have no right to say that I am fishy. There are contributors and leachers. I found very few of the first category in this dead board.
2bit
Funny, didn't hear people say that 2 days ago when the Dow was down 100...I closed my short with 30% gain and yesterday a buy signal was out, like I mentioned, weekly sell, daily buy, therefore short on rallies....I am beginning to think this is a waste of my time on this dead board....if people only post on days that go in their direction...
2bit
ISM < 50...no good...
2bit
oh yes, it is, this morning Asian and Europe all in red IMHO...
2bit
Like I said earlier, weekly sell, daily buy, so short on rallies unless SPY goes above 142, then the game plan is changed...
2bit
too complicated for me, all I know is, weekly gave a short signal, daily could still be up, that means, short on rallies...
2bit
ya, and ready to short unless I see otherwise....
2bit
OEX 630, SPY 138, NDX 2650 ?
2bit
Closed my OEX PUTs at around first target 642ish and reversed with Calls, closed out at EOD - 30% gain. A good day, the market is turning up again, but leaving it to you guys now, off for vacation for a week to the Caribbean...fencing off Issac
2bit
My system dictates entry and exit points. Sometimes I override. It is not on targets nor stops. Targets are for reference only. Time is of essence. My system says today a sell signal is out for agressive traders. The signals are tied to statistical price level probabilities. Reference targets are OEX 641 then 632. The length of time it takes to go there depends on probability. The trade will be closed if probability of success is diminishing irrespective of win or lose.
2bit
I don't get it, what you are describing is options on futures and not futures! therefore you would expect the same time decay as in any other options!
2bit
No Smokey, have you tradedd options before? Whether you put in a stop or not on your trade, has nothing to do with holding it to expiration. You only hold till expiration if the option is in the money, else you would have sold it long before, options are for trading and not for holding, only if it is in the money, then it is just like holding the underlying , dollar for dollar...
2bit
what was your logic of putting in those trades... or was it pure luck..
2bit
incorrect..no stops means...not getting out even if at a loss
2bit
I said I never use stops for Options trading and that is my style. I also said I concentrate on doubling the principle rather than nickel and dime gains and losses.
Now, where do those statements imply all my trades are winning trades?
This is what I don't like about posting. I contribute my thoughts based on my trading system which took years to perfect.
Remember execution is everything. What works for one may not work for others.
2bit
Why would anyone want to be a full time trader? All you need to do is to look at the market once a day. You can buy and sell anywhere in the world. I rather do something more constructive to society, trading is not! One benefit of trading options is there is no margin call, just aim at doubling the principle, rather than nickel and diming every time....
2bit
I never use stops for Options and nothing is sure fire. There should be a huge release and reset before the market can go any further. IMO
2bit
Like I said, I never play front month. Options are beautiful, your money won't get doubled or tripled any other way. I don't look at the market every minute, may be once a day. I may even double up my Puts next week. IMO
2bit
of course not, no chicken shit here, sell signal out today..imo
2bit
I have OEX Sept Puts, right now down a bit, but gambling on house money. Who is this John? Someday I will go back to trading Futures, I don't have to worry about decay as much...
2bit
I see nothing bullish, everyting is down down dwon...
NDX, OEX, XLE, XLF, GLD.......
2bit
OK No more bets allowed.
I am monitoring the AAPL slide by more than $30 using my Google Nexus Android 4.1 Jelly Bean 7" tablet, just to rub it in...hehe
Down down, King Bradley....
2bit
Place your bet now!
Helicopter Ben for up and Falling Stars for down.
My bet is falling stars...
2bit
The definition of a turn is a change of direction and the current direction is up. The weekly chart still points down.
I don't think Helicopter Ben is bigger than the Stars.
2bit
Thanks, didn't know Foot is posting again...yep, this is what I am trading on, Bradley they say...
2bit
Ok, reality is one more upswing at least, Bradley may be right after all....can't deny it
2bit
Surfcat, any more of this long reply, I may have to put you in Ignore...hehe
2bit
Moody's Downgrades Italy by Two Notches
Moody's Investors Service on Friday downgraded Italy's government bond rating by two notches to Baa2 from A3, and warned it could cut it much further if the country were to lose access to debt markets.
The move left Italy's rating just two notches above junk status and could raise its borrowing costs ahead of a bond sale due later on Friday. The news knocked the euro [EUR=X 1.219 -0.0006 (-0.05%) ] down around a quarter of a cent to $1.2190 in Asian trade.
2bit
Ok u guys started it, parental guidance required
"An American Diplomat talked to a Chinese Diplomat...
Are you Japanese, Chinese or Geese....
The Chinese Diplomat in his quick wit replied
Are you Monkey, Donkey or Yankee..."
Now you know where "Yankee go home" comes from
Any lessons learned here! Folks..
Hehe
2bit
The market has a way of negging Uncle Ben to do something, so do brace for a few days of market turmoil before his congressional hearing....
2bit
Hey Rab, how r'u, I think it will be early, as June12 turn date was early. I just finished my analyses on weekly charts on NDX, OEX, RUT, XLF and all gave sell signals. In other words the market would not go any higher than this, how long before it will drop is the big question. May be the market is waiting for Helicopter Ben congressional hearing next week, but to expect QE3 is more than likely a pipe dream....
2bit
Oddlot, don't know if you follow 3 peaks & a doom house..from Lindsey
http://carlfutia.blogspot.ca/
this kind of in sync with Bradley model
http://www.marketmulticycles.com/marketmulticycles9.htm
Let me know what you think??
I think we are at pt 27 of the doom house although Carl begs to differ...
2bit
Oddlot, one other hint to share with you is where the MCO has been, I never go long if it is coming from a high....good luck
2bit
OK. Oddlot U were one of the cycle guy I used to follow in Clearstation. Back then I used to be 2cents but got kicked out long ago.
In short, weekly sell signal, Bradley Jun12 turn date was early therefore expect July28 turn date to be early as well.
Bearish rising channel, slanting H&S turn from Oct3 in weekly chart. A/D thrust all negative, everything pointing to bearish scnario. No longs, hold shorts. Expect a long slide tomorrow if there is no QE3 from FOMC.
2bit