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Buying at 1498.50. Take 'em out!

I know all about the SEC. What do you want to know?

Oh, man! I must be a wild guesser. It is true. Last year, about this time, the futures dropped way below fair value and I made a bundle. Hoping for a repeat, not a 3-peat. Oh! Ye gods! Smile upon me.

100110000.00. approximately. It is really varying now. By my reckoning, I can afford to lose 1% on a trade. I boosted my account by 1% during RTH, so I am still up. BTW, I am long 76 contracts now! I see the bid is up to 1498.25 -- go bulls!

I may seem hysterical; who isn't when there is some loss? But I haven't lost hope yet, so I am still in. I will consider closing the position if the ES drops below 1497.50. As I've said, and I should reiterate, I stand ready to buy at 1497.50.

I am long, but not strong. My knees are getting weak. The bid is back to 1498.00. I am praying and hoping at this point.

Full confession: I may be out of my mind on this. It's just that I suspect that the index is going to try 1500 one more time. I could be wrong. If you look at a chart -- SPX since 03/27 to 06/25 -- it looks like a downtrend. I am looking at IB charts for SPX from 03/27 to 06/25, 3 months with...

Another way to look at this is that big capital sold futures to hedge a buy in the index. Think about it!

Yeah, I think it -- the SPX -- will try 1500.00 one more time. If not that, then about 1497.50. After that, it may be LOOK OUT BELOW! I am actually a natural bear, but also a contrarian.

Am thinking that if I disgrace myself -- if it falls below 1497.50 -- I may need a new ET nom de plume. But why should I care? What matters what others think? Anyway, big w00t! someone just paid 1498.25!

LOL. Now I've got 73 contracts! OK. Now down about 7K after a 10K gain in rth. Still looking good.

Hang in there, 2006. The greatest rewards go to those willing to take the greatest risk.

Hit at 1497.75. Am I scared? No. Am I crazy brave? Maybe. I stand ready to buy at 1497.50.

Hit again! At 1498.00. When will it end? And hit again!!! Sell me the store at 1497.50!!!!!!!!

Jack! "Fully automated" is more than some scripts here and there. My take on "fully automated" is that there is software that draws the channel lines and enters/exits at the appropriate points. I guess I shouldn't question amateur semanticists.

My broker may fade me, for what it's worth. I may be one of the ones they expect to bust out, soon. I hope they lose. It's only money. Easy come, easy go. Que sera sera! Busted flat in Baton Rouge, waitin' for a train ... After making more than $10000 in the rth, I figure I can afford to take...

Well. I am all in with 40+ ES contracts at an average of 1498.50 each. Will I make anything? Sell orders for 10 each + the odd 6, beginning at 1501.50, then 1501.75, etc. Speculation. May be a loosers game.

Jack has recently written that he is "fully automated." When is he going to pay it forward, by showing the code?

Yeah, it could be big capital washing out weak hands or big capital that knows something. The subprime fiasco isn't helping the bulls.

Yesterday the ES futures went several pts over fair value around the close. Today they went several pts under after the close. My guess is that there were optimists with market buy orders, yesterday, but no liquidity; today, pessimists, with market sell orders, but no liquidity (after rth).