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YRT1,
congrats, I had to close out my puts and as I typed in the order it shrunk from 20% to 10% profit. But I am glad I did. The bounce smells bad for the bears.
out and wait like you
2bit
YRT1
OEX 380 SPX 840 is my next target area after oex 419...from here on it will slide to Nov according to Bradley.
ce qui est votre astro la narration de vous
2bit
I think those bulls need a drug test according to Gibbs.
2bit
There is no need to look elsewhere the index price has already told you with a big one day move.
2bit
Gleno,
Let me try to finish it for you. If your count is right. First target oex419, spx951 by Nov26. A 2000 Dow point drop.
2bit
soyez bienvenus au conseil, Quebecois
Just cannot leave this board alone for 2 hours and is turned into a French board. Madame Sage, I love to live in a hut by the river,
smoking pipes, zipping coffee and trading options.
You've got to watch out for YRT1, he is a Bear..LOL
is it really like this? Rupert river
2bit
I only know how to do it Naked...not intending to offend any female audience here...
2bit
Gleno,
GS is in very bad standing with God, that is why He gives it to them....a contrarian play..get it?
2bit
Gleno,
It is not whether God wants you to trade or not, you can do anything you little heart desire, but look at who God gives money to then you will know how God treats money and why some struggle all their lives and never get anywhere.
2bit
this is an upward sloping bearish channel and is meant to be broken...but now that you have spotted it, I am not so sure...LOL
2bit
Hi Eliz,
I was trading OEX options long before SCAM. But he confirmed my findings that they have the best bang for the buck. The minimum increment for OEX options is a nickel while SPY is a penny, that perhaps give you the impresssion that it is moving 5 times faster. They should all move proportionally with the market. SPY options trade in the thousands and OEX options in the hundreds and that is where the opportunity lies, the spread is large but so is the gain/loss.
2bit
What? calling me a grasshopper? I didn't think too much of the comment at the time, well as long as the grasshopper survives the day, that's ok...lol
2bit
No,,,
I think you guys are duped into thinking too much about the boys. The institutions are very much into utilizing maths, probabilities and physics for trading. I beleive they more or less end up with the same conclusion. That's why we see the herd mentality in progress and like a giant elephant making turns. I guess I have posted the charts already...all you have to do is trade the 7th times this year and for 1 OEX contract you would have made approximately twelve thousand dollars since January.
2bit
You can also see in the SPY board daily chart 109 has been rejected four times today...
2bit
Hook,
There may be some bounces in between, but I will be very surprised if it is not going to be lower by next Thursday...(with the usual caveat of course)
2bit
More like Jun25 IMO
2bit
What bets did you place? long or short?
2bit
Couldn't wait for your target, just pulled the trigger..
2bit
No, just the market...LOL
2bit
Gleno,
are we going to get there or what?
2bit
The down trend is confirmed and more down to come...I am looking at 495 OEX or 1090 SPX area...to short...but has to be confirmed by MACD...
2bit
Hey Desert,
Don't be too harsh on yourself, you've done well, consider me just sitting here feeling sorry for myself for missing the whole drop ...but like Arnold said , I'll be back...waiting to short..patience
2bit
According to Cobra, day after a major distribution day (yesterday) is more than likely a green day...will see
2bit
Denomo,
Terry is shifting his T's again...rat..
2bit
Cicso missed down 5% AH...
2bit
Won't go past 1100, will be shorted down from there...
2bit
Day after a +ve Fed day is mostly negative, if it goes too far down there will be no divergence between the AD and indexes...watch out...AD has indicated already to bail
2bit
Ya you can use the OTM volatility to gain/loss bigger bucks, for every 1 ITM contract, you may be able to buy 2 OTM contracts and with a bigger leverage.
However, more importantly trading options should be based on probability...I bought my calls at fib 78 retracement when DOW was down approx 140, plus the information from Denmo concerning 30/30 probability on a gap down day on Fed day (no other events will give you 100% probability), plus I know I am not going to keep them overnight. I would not forgive myself if I had not gone for the calls.
good luck
2bit
We both did....
Just not sure abot the Feds action, need time to digest..one way to keep myself from trading too much is to go to the gym...the market is dropping at time of writing anyways..
2bit
I rode OEX 510 calls from 4.6 to 6.5...and OEX 520 calls from 1.3 to 2.1...from here on it is unclear...you can have the rest...I need a rest
2bit
Gap filled, I am out, a very very inconceivable good day, thank you Denmo and Blasher I am going to the gym to sweat it out...
2bit
Wow, inconceivable, absolutely inconceivalble...like the guy said why are you looking back...LOL
2bit
"WASHINGTON (MarketWatch) -- Federal Reserve policymakers on Tuesday decided to take a small easing step given that the recovery is likely to be more modest in the near term than had been expected. The Federal Open Market Committee announced that it would reinvest maturing mortgage-backed securities back into the market so that its balance sheet does not shrink. Fed watchers described this as a symbolic move designed to show concern with the outlook. As expected, the Fed kept its benchmark interest rate at a record low level. The central bank made no changes to the key pledge to keep rates "exceptionally low" for an "extended period." Thomas Hoenig, the president of the Kansas City Federal Reserve Bank, dissented for the fifth straight meeting in favor of getting rid of the "extended period" pledge. He also said he did not support reinvesting MBS securities. "
2bit