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On the next huge down days I'll sell more.

Collected $2.99 per share, thus $299, premium. So that is about 7 days. $2.99 on a call it $109 investment (even though I'm technically not making the investment, but if I do it will be at $109 so I suppose you have to consider it made). $2.99 for 7 days, then multiply that by 52, to get a...

Thank you for the rants margin gamble! So does everyone agree with my statement that that ~3500 is supposed to be a strong support level for the SPX?

The psychology is the market cratered, you hold on throughout the whole cratering, but then, at the very, very bottom, you get a margin call and have to sell most of your shit. Immediately thereafter the market turns around and goes insanely higher. So you lost almost everything in the market...

You got it, and agreed. :)

Nooooo lol. Selling puts means I have to buy at the set price. Whatever that set price is, if the stock goes up, I get to buy at that set price still and I have the stock that has now gone up in value. You are thinking of selling calls.

So Nine Ender, do you have a view on where the market is going? Is your view most of the inflation/bad news behind us/built into price so we could be going higher from here? Thanks!

That is an excellent point, could be. But I thought most of the "institutions" were short?

That is very interesting Nine Ender. You obviously study this stuff, don't just read the headlines like my "pure ignorant retail guy" self does. Thanks!

I hear you MW. Not arguing any of that. It could get very, very bad.

Based on the assumption, that has always basically been 100% correct, that when a bear market ends and a bull market begins the bull market goes radically higher? All those negative things you mentioned have to be reflected in the stock price at SOME point. When that is, I do not know. But...

I should have sold some puts, would have made out like a bandit. :(:(:(

Haha, yea, it RIPPED higher with a vengeance. That was definitely a HARD bounce! Not kitten!

I dunno about "cresting", everything I read says they were bad numbers: https://finance.yahoo.com/news/horrible-cpi-bracing-jumbo-hike-130817185.html https://finance.yahoo.com/news/inflation-grocery-prices-jumped-130-in-september-160403150.html The market sure seemed to think they were bad...

When horrible, horrible news comes out, and the market freaks out momentarily but then goes bigly higher, my witnessing experience has always been that such is a huge bull sign. But we are in a huge bear market, so who knows. Tread with care though, the bottom will be put in at SOME point, and...

Oh I thought that was what you were saying in your first post - 3505 will be hit before ATH. So you were not making a call that 3505 was the low, just that it would be hit (and we could go further south)? Still, almost prescient from what I'm seeing with that huge bounce off the ~3505 level...

Damn, and you made this call back in August. If we go on from here to hit ATH this might go down in the annals as one of the greatest market calls ever.

Holy cow. You might have NAILED IT Master Pu. It went right down there to that 3505ish level then rallied hard. Wow. Just wow.

Inflation numbers came back hot. Markets cratered early morning. Down bad. But then not only did they rally back to where they were before, they are now far up for the day. That would indicate to me where they dropped to before coming back up hard is a huge support point. Call it ~3,500 on...