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  1. tommcginnis

    FOMC?

    NOT DONE YET!!! D'ya see that roll-off in volume, as price turned? That's sellers dying out -- that's a feint. Continuing through Janet's Dog&Pony....
  2. tommcginnis

    FOMC?

    My read: -- The FED has limited parachutes (in lowering rates and purchasing low-risk paper), and feels it deployed these things properly to address the financial crisis. -- Exiting the financial crisis is important not only for price stability ("fighting inflation" on the upside) but also to...
  3. tommcginnis

    "Uh-ohhhhh!" Very low volume in ES futs spells 'Keeping Powder Dry' kind-of day?!?

    The ol' inverted-intuition thing -- gets me every time. The *product* you are buying produces a stream of cash. With more persons demanding the product, the necessary stream goes down while the price (for the product) goes up. So, in 'scarier' times, bond prices go up even as coupon pmts go...
  4. tommcginnis

    "Uh-ohhhhh!" Very low volume in ES futs spells 'Keeping Powder Dry' kind-of day?!?

    A good understanding... https://www.brookings.edu/blog/up-front/2017/08/18/the-hutchins-center-explains-the-feds-balance-sheet/ A good update... http://www.marketwatch.com/story/feds-balance-sheet-unwind-will-be-moment-of-truth-for-financial-markets-2017-09-18 A good Original Source view...
  5. tommcginnis

    "Uh-ohhhhh!" Very low volume in ES futs spells 'Keeping Powder Dry' kind-of day?!?

    Whoa! The pundits are saying... "The markets had 'basically' no reaction to Pres. Trump's speech....." No. "Wrong." While the S&P has barely moved, my SEP22 SPX positions have dropped a goodly 10% in the last 10 minutes. WOOT!! I'm short at 2520/30, and on bottom, at 2490/80 and 2485/75 --...
  6. tommcginnis

    Does ATM strike decay slower than some OTM strike?

    Look at an options chain -- all the correct answers are there.
  7. tommcginnis

    "Uh-ohhhhh!" Very low volume in ES futs spells 'Keeping Powder Dry' kind-of day?!?

    Ohhhhh, I do *not* like this! Volume in the ES is 1/2? 1/3? of a typical opening. Is this the Trumpet speaking before a global audience? Is this the market catching on to the fact that FED balance sheet reductions will likely commence with tomorrow's announcement?? Or does it mean nothing...
  8. tommcginnis

    Does ATM strike decay slower than some OTM strike?

    http://www.schwab.com/public/file?cmsid=Time-Value-Erosion&filename=Time_Value_Erosion&cv1 OTM options' decay is nearly linear; ATM is more like a thrown wad of paper across the room. Note also, that OTM decay stalls dramatically in the last week/day/hours -- and you'll see a concomitant...
  9. tommcginnis

    What makes you angry when you trade?

    Love the thread; love the responses; didn't think I had much to contribute. (As an option seller, working both sides of the market, I am wrong no matter what.) But I just realized, as a non-directional trader, what makes me mad when I trade: Days just like today. Days when vol shrinks down to...
  10. tommcginnis

    What makes you angry when you trade?

    You've got to mix in an image of my {frightful} X-mother-in-law: picture Church Lady and you're pretty close.
  11. tommcginnis

    What makes you angry when you trade?

    Your dog reminds me of: "I try to be the man my dog thinks I am." Nice dog.
  12. tommcginnis

    Market movement

    Well, so much for a pop! Time to hit that DPRK put, I guess.
  13. tommcginnis

    Trading Chop?

    Remember that for every trade, there is both a buyer and a seller. So the answer to your question is *exactly* "both."
  14. tommcginnis

    Market movement

    This screams of a sale -- a going-to-cash -- of everything that has made out well enough that you don't want to just flush it. "Selling off the cream" because, tomorrow, you expect to buy, buy, and buy again. (So, we're breaching 2500 tomorrow. And kissing 2520 ON THE LIPS by Monday close.)
  15. tommcginnis

    Breaking Through: Margie Teller, Part 1

    I like this woman a lot. "I was like, 'You are an idiot. You are an absolute idiot.'" Could you do that today? "Absolutely not." She be cool. She be Large Marge.
  16. tommcginnis

    What do you do to Reset?

    1) I remind myself, "I suck." 2) I remind myself, "I don't suck so bad." I used to coach Youth Soccer, and while goals were exciting, it was so easy to see the guppies [ever just sit and watch the littlest kids play soccer? they run around like guppies in a fish tank...] get all excited...
  17. tommcginnis

    Percent of trading profits for software development

    What you are describing is a software assignment, no different than placing traffic cones or planning landscaping crews. For this, you pay them as software developers. As Sprout implies, if capital is on the line, then it's two separate deals. And if they are doing the actual trading, that too...
  18. tommcginnis

    Fibonacci Extension on IB Charts

    I'm not a Fib person, but often times, TWS holds onto artifacts (being, details of prior constructs) with amazing ferocity. Sometimes, the only way I've gotten *rid* of something was to erase what I was working on, and start all over. You might bring up a totally new graph (new underlying), and...
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