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Yeah, if it fills the gap it should happen in the next hour or so. I need a better gauge of pre-market volume in order to assess these gap plays, but with so much intermediate/long term downwards momentum... pretty much any short trade is justified :)

I would fade it if I had the money, as I was short going into today. So otherwise, I'm not covering my short positions. dow can't even get above 12200..

Um, placing 50 contracts in ES requires A LOT of capital risk-wise.

Call them up and exercise... IB should let you buy the shares and exercise the puts at the same time and give you the difference. You won't even need to hold with margin, I'd assume.

I love my 19" widescreen. Widescreen is actually really useful I've found, but I use my monitor for things other than trading.. such as word processing, excel, and watching movies.

It's strange, those market bottoms. Personally I think market bottoms are formed on VERY bad news (bear markets end on very bad news?), huge down day with very high volume. Then you have your follow-through break out of the down trend on high volume and then you know it's legit.

I think we'll punch right through. If it keeps testing that support, the stronger it will become. We're too weak for that, go 12000!

Automated systems work, and so do quant methods. It depends on the system. (and some cases how creative you are at implementing them). A profitable system involving a bunch of indicators, I have seen it before. The only difficulty is in coding the risk/reward assesment, but someone...

It's all about the puts dawg.

Please, trading IS my passion.

Watch for monday :)

I disagree, it depends on your strategy. I knew a woman who did about that much (3000+) a week, using swing trading techniques and holding each for 2-3 days on breakout plays. She used a gray box though to find her trades based on her indicators, which cuts down a lot on research time...

$200-300 a day is a great target to be shooting for. If you think about it, if you can maintain 200-300 a day then your yearly income is gonna be already pretty huge. Best of luck.

I enjoyed reading that post. What about scrounging whatever capital you have and putting it in a direct access broker like IB? Push yourself to the limit, learn by yourself and never settle for what you have. Buy/borrow books on C++/Java, learn how to program trading bots. That way you...

LOL

Personally, if I were beginning I would look into eTrade, TD Ameritrade, etc. Sure the commish is more than at IB, but it's a lot easier to learn on if you just want to buy and sell equities. The online platform and interface is much easier. IB is good, but it's a stand-alone platform that...

It depends what you're looking for. Some people need their hand to be held while making decisions and buying. They make very few transactions, and for that a more traditional, albeit online, broker will do. Such as Charles Schwaab, etc. The most popular nowadays are probably deep...

thanks for the props

Yeah I was fully margined short but I took a look at the chart and just wished I had more money to short.. lol.

Chart at close made me worried, I expect a big selloff tomorrow (Tuesday). Or it could gap down overnight. IMO, this whole world wide selloff means something bad is going to happen.. we don't know it yet, but there are some people out there who probably do.