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Another question, lets say the XLEs trade at 53 (58.6) now. What would be the reward on this trade?

I bought 2 dec06 45 Puts after doing a quick search on options on wikipedia. What is my risk on this trade. The market value is $75 - so is that the extent of my risk?

I do appreciate the warning Will but fuck i just couldn't resist.

I've never put on an options trade before but I think XLE will break lows for the year again so whats the best way to get short this thing with options. Buy december 45 puts?

I'm having bull steak everyday till we have a full 10% correction on the Dow and SandP. YUMMY, get in mah belly!!!

You've been in denial and buoyant for far too long. Its over for you today.

If the Dow hasn't toped out today then it probably will sometime the rest of this week, its over for the bulls now.

if you make a good income and are consistant then just be honest and say "i trade futures for a living. i love what i do. i have complete independence and i make more money than i can doing anything else." bottem line: show the money. 90% of people (that don't have money) respect money and...

bulls on parade, in denial, and buoyant thus far

Yes, that prediction was flat out stupid. But, the irony is that in the past 20 years, we may have seen the biggest bull market in history but we've also seen the biggest decline in living standards in this country's history. Even a college degree doesn't cut it anymore unless you have two of...

The most powerful organization in America (the Federal Reserve - which is not Federal or a Reserve) was created when the Senate was on Christmas recess and three senators pass the law creating the Fed on a voice vote - LMAO, you just can't make this shit up.

LOL definately not economics: http://www.elitetrader.com/vb/showthread.php?threadid=73351

Who did Jefferson, Madison, Lincoln, Jackson and other "powerful" men fear the most: central bankers. There is no power above money and those that control its issuance and credit standards.

Part 1: http://video.google.com/videoplay?docid=-5934921769808130035&q=secrets+of+the+federal+reserve Part 2: http://video.google.com/videoplay?docid=-2760315811079341402&q=secrets+of+the+federal+reserve Part 3...

So whats the truth: 1. There's tons of money awaiting good traders to manage? or 2. No record sells itself? Its so amazing how outright frauds like VN have a 10 figure net worth whereas there are probably way better traders than him out there getting by on low 6 figure years.

We're going down but we ain't crashing in the down 10%+ in a few days sense on the S&P. If we were at 20+ PEs then yeah maybe a crash, but from 14-15 PE and a market controled by hedge funds - no way are we crashing. May was probably the worst of it we didn't even get a 2% down day - funny...

I glanced at the dissillusioned thread, and no wonder so many traders are dissillusioned. I'm still dissillusioned 16 months into this. 8 weeks of consistent profitability has taught me that the most important thing in trading is to have realistic goals. When first starting out i wanted to...

It sure is when everyone is bearish and expecting a crash, pecfect time for a bear squeeze.

das mah niggah yo, he luving bear steak an das mah fav eats too

works on any index etf really