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I am not sure why I am posting in this fringe forum. But I admit that I am distressed by how rapidly America is losing what little culture it had. The problem with a capitalistic country is that EVERYTHING is for sell to the highest bidder. Looking just at the numbers in this USA town one could...

Thanks guys for ideas. I see no advantage to rolling a bad position forward here either. I was deep in the money on one of my put spreads up through early this week and sweating the position waiting for a short term trend to reform. The initial market collapse was so sudden that there was...

I managed to call the market move into this range (1405'ish) properly but now am in a pickle on what to do. I was hoping to get a slower rise up and a coast into March SET in the 1405-1420 range . I put on some heavy CALL spreads closer in than I normally would (1420/1430) for good premium to...

Nice SPX rally here at 1400!! Could be a bear/short shoot/squeeze developing. OMG never thought my upside CALLS would be vulnerable so soon! TS

Oh Gawd, wouldn't ya just know it? I tossed the bad 'ol wannabe bear a big CALL bone with March bear credit calls at 1420/1430 for $2 per. Now he is running up toward em. Basically I am trying to create a trade space between about SPX 1390-1435 to risk mitigate and only stand down a max loss...

LOL. I am discovering the deeper zen of "normalcy" as I watched the market drift down into one of my BULL PUT SPREADS on light volume. It was an unexpected and subtle joy to watch the market finally produce normal b/a spreads to offer me a partial loss exit over the full enchilada. Tempting it...

For selfish reasons I am hoping "Gentle Ben's" reassuring calm will buoy us up to reform around the 1405-1410 level - sooner rather than later. I think Ben is good for at least 5 points (monday?). What I don't want to see is the current creep toward an arbitrary round number base like 1400...

heck no - not by a long shot. It beats drinking heavily & pulling my hair out. Chuckle... Cheers, TS

Very good dialog guys on what some of our options are from here (no pun intended). Thanks. Tuesday's "irrationalism" I think has now introduced average traders, government policy makers and financial institutions to the inherent realities (weaknesses & strengths) of financial contagion. For...

Agreed - closed out all my original FOM CALL spreads at .1 debit for descent wins. Now I want to try to take advantage of high VIX/vol to toss this bad bear a substantial bone closer in but at safe distance. Maybe I can get it to run back north away from my short PUTs that are still at risk...

In spite of the market physchology change and global coupling that is still ongoing (which may very well redefine all new technical levels) I remained confident in RUT/IWM support at 78. But that opening rip down made the risk of an assignment real. So I closed out my March PUT IWM 76/78 for a...

Impressive market resiliency & power today to reverse that undertow to come back this strong. Wondering if I should be thinking about closing out my CALL credit spread at 1500/1510 for .1 debit before it soars back? >;-> TS

What you say sounds reasonable but personally I hope you are wrong since I need just a bit more motion to the upside to unwind or reduce some positions. As far as an up catalyst what I am personally hoping for is a transparent natural shift to quality & defense (e.g. low PE, dividend stocks...

Sorry - mech. Got a bit carried way on trying to figure out what was behind the market moves. General Question for anyone. With volatility and premium being so high does anyone have an opinion on the merits of playing a strangle or collar here on SPX. If volatility is really as high VIX...

Very interesting day and pretty hard to put the pieces together to figure out exactly what happened. But I have done a lot of research and as best I can tell we had the perfect storm of at least 3 major screw ups. Based on the trading volume and patterns I am moderately sure that this is not a...

Yeah - very well done mech. I was wondering how you would fare on a fast down moving market since it could have easily overshot your Mickey ears. Very good job and congrats. From what I am reading and hearing this may not have really been a "correction". It appears to be more of a...

Impossible to manage today - volume is so high the brokerages are losing connectivity. I am waiting for the smoke to clear in the morning. This was no where near as bad as 9-11 and the bounced right back on that bad event. I would expect this relatively minor china induced effect to blow off as...

Big down day today - anyone got any good short stock stories? VIX up to 15.87!!!! That's a HUGE 42% change in 1 day! TS

Yeah I hear you. I have not tapped into any of my margin yet except for locking up a portion required by SEC rules to cover the credit spread potential liability (10 point spreads). Since I am almost out of trading cash now (from all these good deals today) I have been selling premium in new...

The New York Stock Exchange said it instituted trading curbs at 1:03 p.m.(1803 GMT) amid the plunge in the U.S. stock market. woohoo - SPX pushed through its 50 day moving average. Will it try for the 100 day and threaten to eat my shorts? Hang 10 Baby! hmmm, I wonder what margin levels...