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  1. tommcginnis

    Is this right regarding these index futures?

    Blame the media (and all of us) for sloppy shorthand. "The Market" commonly means the Dow Jones Industrial Average, 'Dow30'. (A pretty meaningless number, but one we still have to carry around with us, so that when someone exhorts, "Wow! The Market jumped 200 pts today! You must be [pleased...
  2. tommcginnis

    New to trading - Got a bunch of books. Scared to learn outdated things.

    :wtf: I just got shivers! [:D I love the sexy talk. :D] QUOTE="lcranston Focus instead of what the pioneers did, [...] who learned what they learned by studying the market, not what others said or wrote about the market. Not that they always got it right. [!!!] There were weird things...
  3. tommcginnis

    New to trading - Got a bunch of books. Scared to learn outdated things.

    Keep 4; 45+46; 64. Sell the rest. (I'd say "Burn 'em!" but there's a dollar to be had in there....:D)
  4. tommcginnis

    Option selling for premium

    Did it really take you this long to twist up a retort when a simple admission would've take.... 60 seconds? You were way burned, dude. And you have my pity.
  5. tommcginnis

    How I made $2,000,000 in the Stock Market

    There is nothing legit, unless the author can specify beforehand, when the box is to be drawn. This is Eliot Wave bullshit for the math-challenged. A post hoc genius who's cashing in. :cool:
  6. tommcginnis

    Lumber

    Put differently, "Technicals, or fundamentals?" I'd actually go with, "Both." WOW, that graph! But then, fundamentals: Harvey, Irma, Maria. That is a *powerful* set of rebuilders going on there. Add that to an underlying housing market bent on growth? You have a call for lumber.
  7. tommcginnis

    Brokerage Firms...ya get what ya pay for

    I didn't want to add fuel to this fire, but I saw two bits of all this just yesterday. 1) I got a red Margin Violation!! flash on the Account button, and saw that, for short positions essentially 'pre-paid', I was going to be 5x or 6x out-of-whack re net liq. *Nearly* did a true...
  8. tommcginnis

    Listening to...

    Specifically, I'm a good 01:10:00 in, and these guys are *killing* it..... (finally warmed-up??)
  9. tommcginnis

    Gary Cohn to Resign as Trump Economic Adviser After Trade Dispute

    https://www.dailykos.com/stories/2018/3/6/1746881/-Rural-America-begins-to-realize-Trump-isn-t-working-for-them-as-Nebraska-Farm-Bureau-makes-clear?detail=emaildkre (Not trying to further the "racist redneck" slant, only that it's not just Appalachia that drank The Orange Kool-Aid.)
  10. tommcginnis

    Gary Cohn to Resign as Trump Economic Adviser After Trade Dispute

    In 2018, most automobiles are made near-to-where they are sold, regardless of 'brand' origin. In point-of-fact, this has been true for many years. GM ("What's good for GM is good for America.") has had its major manufacturing and major sales point in China for at least a decade. My Subarus have...
  11. tommcginnis

    Gary Cohn to Resign as Trump Economic Adviser After Trade Dispute

    In game-theoretic terms, the world political scene is mostly "tournament play" where the same actors line up for each 'round' and there is 'memory' from one set of interactions to the next. This allows for 'reputation' -- an expected-value application of various outcomes, probabilisticly...
  12. tommcginnis

    Price driven charts - Do you adjust settings based on changes in volatility?

    Yes. :cool: (Which is to say, for a 1min-candle/4hr chart, used to be 30-40 S&P pts. 20pts. Then 30pts. Nope! Back to 20pts. Calendar-2018??? 40pts-50pts is not uncommon. :wtf:) I think it depends, too, on your use. As a tick-scalper, individual candles need to demonstrate different...
  13. tommcginnis

    why can't you have buy and sell orders simultaneously on a particular option.

    Which was my point. :thumbsup: (Suddenly in the background, the sound of The Byrds is heard....) To everything, churn, churn, churn...." [Now there's an earworm for ya.]
  14. tommcginnis

    why can't you have buy and sell orders simultaneously on a particular option.

    FN: And of course, if you're trading multiple accounts, *each*of* those accounts must carry pro status.
  15. tommcginnis

    Option selling for premium

    KK: I appreciate your comments on tastytrade. I myself wailed for a while on 1) the grotesque abuse of basic statistical concepts {"occurrences" among non-correlated underlying(s) comes to mind; and "IID" -- independent, identically-distributed phenomena} and then, 2) the mathematically...
  16. tommcginnis

    Prudent Risk Management Is The Only True Edge In TRADING

    Silly. And won't help anybody's trading -- including yours.
  17. tommcginnis

    Option selling for premium

    Y'all realize that if prison reform could get passed in these United States, LL would lose his internet access, and the caliber of *innumerable* ET threads would be lifted thereby -- and immediately. Suggestion? Register. Vote. I mean, what the hell.
  18. tommcginnis

    Option selling for premium

    Wait it out, where?? With 50|50 hindsight, it's still difficult to reconcile ITM spreads (which increase in price the further out in time you are looking). If you were at 2810 on Jan21--Feb02, you've been ITM since. Take a look also at the lower graph, of light-blue IV against blue-ish HV...
  19. tommcginnis

    Option selling for premium

    We camped for a few days at SPX 2850, with vol at more of those "historic lows".... Let's be bold and just assume you were 40 points out, at 2810, and that you doubled/rolled when the market got within 10 points (initially, 2820) of your position. (This idea ignores the idea of rolling out in...
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