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Housing bottom is right around the corner?

You can say that again. but Newguy05 has the way to nail it. Good job Newguy.

Hong Kong man arrested over bank run rumors

Rumors hit one of the banks in HK or Taiwan a couple days ago, not sure if this is it.

Honk Kong's old news?

Do you have the facts to be concerned about. We are all ears.

A strangle? I like the idea.

Or, over the weekend, then market rally on Monday which btw is a New Moon day. We are just range bouncing before deal or no deal.

Lose your opinion, not your money. - Livemore (?)

A floor trader's method may or may not apply to a screen trader, imo. I remember he also said something like "one million trades for one million dollars". Can we do that? I doubt it.

Yes you will do well if you can identify range bouncing and trending correctly. P&F is about trend following, and typical win rate for such systems is about 30-40%.

No need to feel discouraged though. You learn by asking questions, that is okay. His point was not in the math, and close stop and target is just not his style. Good trading to you.

No, you are here to argue.

Breakout in what price level, if I may ask?

"He who makes full assessment of the situation at the prewar council meeting in the temple is more likely to win. He who makes insufficient assessement of the situation at this meeting is less likely to win. This being the case, what chance has he of winning if he makes no assessment at...

"If some of his troops advance and some retreat, he is seeking to lure you forward..." - Sunzi

You can basically quote the whole book of "Sunzi: The Art of War". The one I like most for general trading: "So it is that a victorious army will not engage the enemy unless it is assured of the necessary conditions for victory, whereas an army destined to defeat rushes into battle in the...

I guess you will have to take a vacation if you trade IPOs.

got some, +AIG @ 2.7 and -Sep 2.5 call @ 0.45 What you are looking at?

SPY still going higher.