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On the ledge and the fall is steep. I'm a little slow, but I eventually get it.

Actually I appreciate his charts. I went back and it was posted before. I think its falling off the ledge after the cleavage (Ammo's word) if I got it right after the ledge is hit around 1113-1116. But, I am still not sure.

Its a serious question. You have noted 1216-1213 in and around the 1116 - 1113. Maybe its going over my head.:confused:

1216-1213? or 1116 - 1113?

Out at 1135.25. +7.25. Didn't like shooting star on 5 minute.

Just hope upside happens before my stop is hit - may very well will be hit. But, you want to play you got to pay. :)

Long 1128 Stop 1120 Target 1160 Made trade a few minutes ago Currently unrealized loss of about minus 2.

Seems to be consolidating just a bit approximately between 50% - 61.8 percent on a retrace to of Monday's early evening (PDT) low. That low is an after RTH price though.

chuckle.....Swingo's giving a diagnosis of borderline personality disorder didn't make the cut of a possible alternative. :)

Swingo Man: You got two people today challenging you today on the veracity of your trades. You had Vol and a couple different people challenge you weeks back on the same thing. Now again, different people are saying in general the same thing with the same common denominator and the common...

I don't think it is easy for "everyone else." If I understand you correctly and you are selling naked calls: that is a pretty high risk play. Options is not an "easy" game. There are low risk, low reward plays however. I don't trade options that much at the present time, and when I do usually...

With SPY options you get really good bid ask spreads most of the time especially in and around ATM. They are very liquid. I have a guess and just a guess most of the traders that are killing it with options have floor experience or are on the floor presently - I could be wrong.

I can honestly say with recent daily average true ranges being what they have been of late, I have no clue. But, we should have a good idea over the next 5 to 10 market days.

This market reminds me of when the DOT com bubble was topping and began its reverse. A sharp move down one day: "the world is coming to an end." An equally sharp move up the next day: "to the moon! good times have never been so good!" I am not saying this is what is going to happen now...

These were the only two trades I made this morning. One lot each only. Could be considered scalps, but I don't like doing 1-2 point scalps. But, when the volatility is there, I have no problem getting in and out in a flash. When I have or expect volatility being very high, I work off 5 minute...

Good job!

Yeah sometimes it pops the market and then the market thinks about it, becomes scared and drops. Sometimes the market goes up and stays up. I agree with "be careful."

So I guess maybe we are going to chop around until the FED releases its announcement.

The message I posted on 8/8/11 at 705PM PST was meant to be addressed to Wingo man and not Volente.