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Ditto. ZR1 some traders think 1 ES contract is 5000 which is the margin. It's not. At the time I write this one ES contract you are trading means you are trading 66,762.50.

That's what I was thinking. By the time we put in the order, he would have already closed it out.:)

I get it. It is a compliment.

I've read a couple of people's posts in this forum, praising Sinclair's books. I'm gonna get them.

Interested to know what Asian markets think about it. I think they open 1-3 hours. ZB gapped down a bit, but has moved back up, currently a little off high.

On the other hand (not predicting - don't know), if we go into this week with no deal, it is possible the market would head south right away - including this evening and overnight. As each day passes without a deal, it would continue to head south. If there is no deal by the end of this week...

Oh, I think if they make a good deal soon the market will spike up. But I don't know for sure. It spiked last week when the NYT said they were close to a deal (the NYT was wrong) But, overall I still would be bearish, as a spike is not a trend - could retrace much of it the same day. But...

Actually, I am bearish also and I think your 53 number is valid, I just want to be prepared in case I am wrong in the off chance there is a break out of the range and there is a confirmation of a resumption of an upward trend. But I don't know at this point - especially with the uncertainty of...

Well Betapeg if you have read it, he warns against what you are doing.

Unless the broker made a mistake. But tell the IRS, "it wasn't my fault." They will say tough luck pentalties and taxes at the very least. At worst they could say, "you knew about it, you didn't try to correct the mistake and didn't report it - willfully of course."

Actually I am aware that true bearish double tops are rare. There are a number of criteria to be met to qualify as a true bearish double top. I don't remember the criteria off hand. If you read what I said carefully though, I brought up double top in the context of going bullish.

Maybe we will find out. Maybe not.

Clarification: it's really if price pushes past the h of the h&s I'll be very bullish because the double top bearish threat is gone, the h&s is gone and price will have broken out of the range. if the market goes down Monday I'll evaluate and look to go short at the right time. by evaluate...

if the right shoulder is taken out and there is no h&s, I'll buy probably with a target just under the year's high, wait and make sure there is no bearish double top and if price breaks past the prior high (the h of the h&s), I'll buy again. if the price drops leaving the right shoulder intact...

Very good comments. Well we'll find out. As evidenced by your excellent trade you closed out today, I have to say you've certainly been very right right in your recent perceptions. honestly, at this point I am neither bullish or bearish. I am on the sidelines. I am not as confident...

We've pretty much been range bound all year.

Better clarify... what I haven't mastered is the math needed to work the formulas in the Appendixes in Natenberg with the model formulas and other financial formulas. I knew calculus and statistics in high school and college. So aptitude isn't the problem, motivating myself to learn it again...

Betapeg, You mentioned a book. Its not the book you should start off with. The best book on options trading is Option Volatility & Pricing, by Sheldon Natenberg. It was written in the late 80s (revised in the early 90s) but its still highly applicable. except maybe the ease of finding...

Betapeg, you still arguing about this?

Out -.25. Flat. Didn't feel right.