Replies to post #264615 on Option Millionaires

[QuickDraw007]

If you think they aren't manipulated your are crazy.. My thoughts is that they need a "win" right now, I'd expect big numbers based on the manipulation of that report alone and the Chinese holiday

[nlightn]

ISM Non-Manufacturing Index

Aug ISM Non-Manufacturing Index: 59.0 vs. 58.5 expected and 60.3 prior.

Business activity 63.9% vs 64.9%

New Orders 63.4% vs 63.8%

Employment 56.0% vs 59.6%

[Nolerman]

"Nervous about jobs number"

I think the market tanks tomorrow regardless. The algos simply need a headline catalyst to get it moving faster, but I think the correction needs to complete. Right now I believe this is a brief relief rally on an intermediate down trend, which is all leading to one last rocket to new highs. I'm expecting SPY 230-240 before all is said and done.


As far as that SPY straddle.....I would take a look at the same play on AAPL. I have used a Strangle many many times (Purchase in the last 15 minutes of trading, exactly one strike in either direction) and it almost always pays. AAPL simply likes to cross multiple strikes. Also, a straddle at 3:00pm on any given Friday would make sense as well.....probably pay a larger % gain. Anyway, good luck Truman