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SPY MONTHLY

Looking at price action it seems every rally is the shorts reloading, not saying the trend won't change but I am looking for a close above $1462.00 on the cash first.

The yen is trading at $113.34, anyone short the pair today?

Saxon sorry about your execution issues. I have to ask here why are people looking for a reversal today considering all the bad news?

bad jobs number.

Hey Spectre glad you are back, thoughts on the jobs report. Here is a chart of spy/yen with the spread.

I agree. the new nano with the video screen, for $150 I may have to get one. they have an edge in branding like sony in its heyday, long term buy.

Saxon, did you catch that breakout? the good thing about momentum is that there is a powerful force working to reverse the market, the key is not to get too greedy. I like them for quick scalp plays.

I can't argue with you there, that's why nothing beats watching the tape day in and day out. I am always trying to catch a reversal, the key is to honor your stops when you are wrong. Easier said than done when you are underwater.

Here is a link to an article on buying breakouts, may be helpful. http://partners.futuresource.com/fbp/2005/0304.htm

well I meant this as a breakout trade, the stop gets you in on a momentum breakout, but to each his own. Good trading. :)

Good one, how about a buy stop $1470.00 & $1480.00.

long at $139.00, two point stop. Will try to hold into close.

I spoke too soon.

may take a scalp if if gets down to $140.00 pretty close here. Sell the news I guess, for now.

Here is a chart of es. Bounced off $1490.00 and going lower, the question becomes is this support or resistance. I don't think that will be answered until after the rate cut and subsequent price action. :)

http://housingderivatives.typepad.com/housing_derivatives/options/index.html

market topped nationally around june, 2005. watch bostonmarket, your formula is too complicated.

If all you are doing is hedging why do need classes, start hedging or learn how. There are lots of good classes around, teachers are few and far between. You can learn alot on this board on options. read "writing options for a living" on this board.:)

Well it is also nice to see some form of ethics especially in this business, but I find it ironic that he is recommending the competition. With all the spam and useless threads on ET I was hoping to get some insight into how he runs his shop. Anyway, as an unbiased trader I can say that Mav is...