Search results

  1. tommcginnis

    What's more important - a market's initial reaction, or what follows?

    Your question goes to every debate, on every market-monitoring procedure -- whether shorter-term 'technical', or longer-view 'fundamental'. And what a great morning to cite as an example!!! We're back up to pre-market, fergawdsakes! I wish I had time to address this (open) question properly. I...
  2. tommcginnis

    Any tips for closing out near-worthless short positions below $0.05?

    It is *such* a pain in the ass. And you can *see* it, and then not act, and bash your head later when you calc the lost recovery from the spreads you did not take cuz you were too cheap to buy-out. :banghead: ALL OF US have that little battle. :mad: Oh, it's not unbalanced or disproportionate...
  3. tommcginnis

    Any tips for closing out near-worthless short positions below $0.05?

    Take a look at volume: you will not find a market at 0¢bid - 5¢ask. What a pain! And in the meantime, you watched it cook down from some interminably long period of time, while your at-risk capital was giving you zilch. Would you open a trade at 15¢? $$/day $$/day -- that is where each of...
  4. tommcginnis

    Any tips for closing out near-worthless short positions below $0.05?

    These are in the wrong order but, 1) place your shorts such that your longs are on a big, round numbers -- so if your spreads don't get hit, you can give a shot at leg-by-leg. 2) {and much more important}. Don't find yourself in this position in the first place. You've seen how those spreads...
  5. tommcginnis

    VIX Manipulation Costs Investors Billions, Whistle-Blower Says

    I put up a graph of IV for targeted spreads over 6 expiries, and finally got around to putting up the VXST/VIX on the same graph -- just as a curiosity. Although I look as a step-1 overview of the market when I'm setting up, I *rarely* see anything by way of correspondence that would make me...
  6. tommcginnis

    Is there any Option Software that has 'Value' percentage ?

    This will do anything you can input, for free. https://www.libreoffice.org/ With a little fiddling, you can get something like this: Being able to offload platform data is step #1. Secondarily -- a caution: the probability you cite is in reference to a specific moment in time: expiration...
  7. tommcginnis

    the holy grail technical indicator really exists!

    On the *extreme* outside chance that some reader does not gather the full impact of your *cogent* reply, Slartibartfast, I hereby submit.... at 00:30 in.....
  8. tommcginnis

    Trump Admin Proposes Fees for Futures Industry

    https://www.wsj.com/articles/trump-administration-proposes-fees-for-futures-industry-1518457327 Freakin' idiots.
  9. tommcginnis

    So, does the market predict economic downturns, or cause it?

    I appreciate where you're coming from, but the interpretation you're citing is incorrect itself. Taking a Weiner process from a Brownian motion (random walk) underlayment, implies a 50|50 split between some movement up, and some movement down. It remains a pretty fair representation of a market...
  10. tommcginnis

    So, does the market predict economic downturns, or cause it?

    "The markets have successfully predicted 9 of the last 5 recessions." Paul Samuelson, MIT professor, 1970 Nobel Prize laureate in economics.
  11. tommcginnis

    An ET Bumper Sticker.

    In silent answer to the perennial question.... "Meh. I have my up days -- I have my down days -- It's the markets, you know. www.elitetrader.com"
  12. tommcginnis

    An ET Bumper Sticker.

    :wtf: Dude! They told you not to back off the meds that fast. Sheeeesh.:rolleyes: :D
  13. tommcginnis

    Market Data Subscription Interactive Brokers

    Make sure you go to Global Config and check the questions about the Caution Boxes that have to do with Market Data Assistant -- specifically, that it is 'un-checked' and will bring up Market Data Assistant whenever there is a usage/data permissions question.
  14. tommcginnis

    Chart patterns -- The funnel

    With 9:30 cash open, you have a lot of market-moving agendas geared up and just coming online. Whether net up or down, you're trying to figure them based upon (<9:30am) candles mostly formed before those agendas showed. Phew! FWIW, I don't think that's gonna happen. To be evidence-based, you've...
  15. tommcginnis

    Is this pull back the start of a bear market?

    But the shoe has already dropped -- and it costs $1.5 Trillion dollars. That'll put a pinch on your monetary value, sure as shootin'!
  16. tommcginnis

    Help me understand the VXX

    Look up "contango" and understand it -- you won't wonder about the VXX any longer. ;)
  17. tommcginnis

    Bottom in?

    Screw it, man! Go with whatchu got! :D
  18. tommcginnis

    Bottom in?

    Lots of great comments in this thread thus far. But I called a bottom when I thought "we might go down as far as 2700 on Monday".... Well, yah, Tom, we done and did that. Then I thought, "Well! If we taste 2600, hit the "Buy!" button." Done that. Shorted the t-shirt. Scat -- I think we hit...
  19. tommcginnis

    Some of IB's option quotes are wrong

    :sneaky: Part of the secret handshake. :cool: No lie. It should appear on a banner above every TWS monitor.
  20. tommcginnis

    Is this the return of tick scalping in the ES?!?!?!

    I think a tick chart would do a whole "Scanners" thing on me -- with the top of my head coming right off......
Back
Top