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Go back and read Steve0617's posts in the earlier portions of this thread. Obviously the guy has learned the hard way, as have most successful traders, myself included. I personally would advise a new trader NOT to focus so much on the dollar goals/outcome, but to focus on having the mental...

Quite simply, bid is price buyer willing to pay, ask is price seller willing to sell, the difference being the spread. Highly liquid futures such as stock indices have very tight spreads, usually 1-2 ticks. More illiquid things such as options have wider spreads

At least today the zero risk, buy every down tick 100% cant lose threads have left the building

I trade ER2 exclusively for a living. Catching momentum turns using profit targets is my generalized methodology. Not sure it matters what size I trade as that is specific to each person's account balance and risk appetite. I like the small tick size (0.10) and its volatility. I personally...

"I LOVE 100% UP ROOM TO GO WITH ZERO RISK $$$$$$" Enjoy it while it lasts. All the mullets get to be right at the end of a move

Odds of in the money call *not* being exercised at expiration are zero. They are automatically exercised.

Last week's flavor was bidding DIA,SPY and shorting IWM. Yesterday blewout many IWM shorts on huge volume, a few more pushing eject button today.

Real impressive "selloff", now the Russell is only up 1.2%

Actually, I'm thinking some major players are exiting SPY/IWM spreads today. At least that is what makes sense to me.

ER2 feels very heavy lately, much weaker than other indices

So you have found the grail - congratulations. Never failed? So this indicator has signaled at least once before I take it . . .

Remember reading lots of bearish smack talk in early March . . .

I think VIX is hanging out near 13 lately vs 10-11 area during the Feb highs. Not near as complacent as it used to be.

I personally follow the advice of Terry Allen (Terry's Tips) for rolling over short options. When the average daily decay of the option you are short becomes less than the average daily decay of the next month out, roll the short position. Keeps it simple.

I live on the Northwest side of Houston. My cable/internet/digital phone provider is Time Warner

Landis: I think many were hoping for that C down to materialize today after 7 upcloses in 9 trading days. Suffice to say today's action caught most offguard

Remember all the "if we break 12k look out below posts"? Yeah, if we break 12k we go straight t 12.5k. Bears getting a good cleansing today

Lotta bears trapped under this market hoping the Fed would bail them out

Put sellers in delta hedging hell - capitulate, try not to wait. VIX>21 here

dtrader: you should indeed look further back than last 7 months for your max pain theory. The prior 7 months were an almost unprecedented bull run with miniscule pullbacks so not surprised that max pain would be exceeded by 5% each time