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No kidding. My FAZ 6 calls are only up .10 if I took the bid here. What a joke.

In index futures like ES, YM, NQ? Nope. Unless you have some weird broker rules. I use IB and you need at least $2k to trade futures, even though NQ requires only $1750 - go figure - and ES requires $28xx. And you can churn it all you want. Different brokers have different reqs...

Yeah, you COULD get around that by trading index futures. But in one of the great ironies of the stock market, it's so leveraged that if you're not a good trader, you can blow out before you ever have chance to learn. And so you end up trading "scared" in equities and: 1- hesitate...

Yeah, one thing I've done today, when I see this kind of divergence/disagreement is trade for a set target of 1-2%, and just make several trades. And if I get in a trade where everything starts agreeing, I let it run, and will take a wash if I need to, in order to get the large move.

Exactly. it's tough to say what's gonna happen here. Quite the divergence. Markets are down 1.5 - 2 % but financials are flat. VIX is up above 30 again though, but TRIN is flat - around 1, althoough it WAS up around 2 before. I really don't have a clue....:confused:

Yeah, it's a sloppy day.

Can he sell his Chryslers/parts to another dealer?

Put some S/R lines on it to let us know what you're looking at.

Yeah, it's hard to ignore the chatter about how financials are a smaller part of all the indexes now. But like it or not, financials are the news leaders and in everyone's minds. So when FAS made LH,LL and I was trading the ES, I woulda been short biased. As it turns out, it DID break...

I prefer to avoid this.

I wouldn't touch anything right here. just released the FED minutes..... expect insanity for the next 1-2 hrs.

That's good. Right now you should be re-evaluating the FAS buy, unless you're thinking an overnight hold again. FAS made a LH,LL - down trend after 2 days of decreasing "up" volume. ES/SPY made a HH,?? - will it also turn into a downtrend?

ROFL. :D

I wouldn't.

LOL, exactly. I've had FAZ6 calls at .60, just 15 to keep me interested, and they're back to breakeven now. I gonna double up here. Big divergence between FAS and the ES. FAS made a LH and LL, and ES made a HH and *might* be on its way to a LL around 906. If that happens, I'll...

Only if you think it's gonna trade in a range. But it made a LH than yesterday. This may be the rollover.

That might leave a stain tomorrow.....

There's no ceiling here, if you're going by HH,LL,etc. The only technical analysis that can be used here is financials at the bottom of a channel, going up on lower and lower volume. That means that the upswing is kinda done here. BTW, I agree with you - I'm STILL short biased, but I don't...

Yeah, what ceiling are you talking about? M,Tu,Wed of last week was 3 straight down days, followed by 2 bs days. Monday was up 20%, today nothing. The ceiling is another $2 higher....

Ok, I'm short biased and bored. So took a few FAZ6 calls here to keep me interested.