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  1. tommcginnis

    Warren Buffett Says America Is "So Rich" It Can Afford Single Payer

    And, WTH, just to follow up, the cure for ills seen in public education is to follow one simple step: provide for alternative suppliers -- "School Choice" -- private vouchers and all of that. Suddenly, cost discipline and 'student outcomes' are all the rage. And TEACHERS (and not some...
  2. tommcginnis

    Warren Buffett Says America Is "So Rich" It Can Afford Single Payer

    As a libertarian/academic economist who came from a medical education family, I am forced to observe that most of the world has found it worthwhile to provide taxpayer-funded education and health services, and while the details differ, the delivery of these things in the United States is...
  3. tommcginnis

    The S&P 500 has topped at 2430 on 6/1/17

    Is that the taste of Bitter Irony? Or is it just frostbite a'nippin' at the Little Parts.....?
  4. tommcginnis

    This is how bad the IB Margin calculator and Support are

    Hey -- I'm not the litigious sort, *and* I'm a long-time fan of IB (*and* as such, have my share of IB misdeeds to share, WTH).... but https://www.securitieslawyersblog.com/2015/11/06/customers-file-complaints-against-interactive-brokers-for-flawed-margin-liquidations/ A phone call would...
  5. tommcginnis

    Switching to IB from TDA's TOS will I be able to analyze options

    I have no direct knowledge, but I assume the majority of IB traffic is institutional, that IB assumes we've all got IT over one shoulder, and Research over the other, and that we're all running an API with our Special Sauce poured all through it. (I'm completing my Special Sauce right now...
  6. tommcginnis

    Switching to IB from TDA's TOS will I be able to analyze options

    Remember the origins here -- ToS is an analysis package that trades; TWS is a trading package that (slowly, slowwwwwly) is learning to analyze. To that extent, ToS will have a distinct advantage. For me (coming as a equities' tick scalper), TWS/IB had the absolute advantage when I was running...
  7. tommcginnis

    This is how bad the IB Margin calculator and Support are

    That sounds plainly shitty. I've got no help, though. Damn.
  8. tommcginnis

    Does this idea make sense

    If you sold the strike immediately below your long strike, you'd recover half the value (roughly) right off. If you went long the next day, you could buy the short back, which would be less cash engagement than re-buying the (still-retained) long strike. If you wished to play in different...
  9. tommcginnis

    This is how bad the IB Margin calculator and Support are

    For anyone to competently address your question, they'd need to know, at a minimum, the thing being traded, the effect on your inventory, and the type of account. Just for grins, I'm going to opine that, while holding longs and shorts of a vertical spread in your IRA, you set up a sale of your...
  10. tommcginnis

    The S&P 500 has topped at 2430 on 6/1/17

    Ooops. You were referring to stop-loss exits. "Excuse meeeee." I see what you're sayin'.........
  11. tommcginnis

    The S&P 500 has topped at 2430 on 6/1/17

    STAIR STEPS! I thought the idea was to make money!?!? Do you think a high above 2452 is workable, short term? Put differently, given that we're at 2450, which do you think is more likely for Friday -- 2460 or 2430? 10pts up, or 20pts down. I'd be snugging that top-side exit up pretty hard, and...
  12. tommcginnis

    YUKK!!! what a crappy day for ES

    In order to even make a tick, you need a half-point of movement, *and* you must let the market grind through everybody in front of you in the book. "Bang." You're hit. Now, just to make a tick, you have to have the market rise, and then burn throw *that* tick, *or*else*, pop the (now 0.50) to...
  13. tommcginnis

    YUKK!!! what a crappy day for ES

    If you want to see why you had a miserable day doing short-time scalps, put up a 6-min ATR: it will show a value mostly around 0.50, and very little above 0.75 -- deadly. "Just say 'No.'"
  14. tommcginnis

    Stock market trading courses

    http://www.ebay.com/sch/i.html?_odkw=stock+options+trading+optionetics&_osacat=0&_from=R40&_trksid=p2045573.m570.l1313.TR0.TRC0.H0.Xstock+options+trading+optionetics+investools.TRS0&_nkw=stock+options+trading+optionetics+investools&_sacat=0
  15. tommcginnis

    The S&P 500 has topped at 2430 on 6/1/17

    The (shortish) lengths of those last two wicks don't exactly inspire courage.... I'm no candle-worshiper, but having long-ass wicks is a pretty sound indicator. (You can see it in the turns of just what you've posted.)
  16. tommcginnis

    Unusual large spread

    For the SPXW, check out the bid volume against the ask volume -- the tale is generally told right there. As well, for ATM/ITM, you're watching options that have little use == little demand. (Would *you* buy one, on the day of expiration?) For the SPX, bid-ask spreads will always be 2x-5x...
  17. tommcginnis

    The S&P 500 has topped at 2430 on 6/1/17

    At 10:30ET, the NYSE-TRIN went from 1.35 to 1.00; you posted the above a good half-hour later? I hope you've covered your shorts. o_O (In a normal market, with two days of questionable *fundamental* data, a Tweety-bird in the White House *ruining* his party's agenda, a fresh U.S. Fed opinion...
  18. tommcginnis

    Trading for others

    I don't understand how an 8-year licensed financial advisor has any questions at all on this subject. #clickbait
  19. tommcginnis

    Just 10% trading regular stock picking

    A ton. That's like 10 guys.
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