ES Journal Archive (2006 - 2008)

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Quote from saliva:

I don't believe any "good" trader is trading today. I sure ain't, not that I consider myself any good.
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pit is packed today with all the big locals
 
Quote from OldTrader:

It's illegal to short 799 financial stocks for the next 10 days, perhaps extended to 30 days.

OldTrader
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OldTrader, what do you think about all these developments? you've been around for a long time. are they going to change the trading game much or is it just a temporary interference that we will forget in a few days/weeks and it will be trading as usual?
 
Salvia

Banning short selling gives the gov the time to find a realistic solution to the once in a lifetime situation. If the financial system stops then so does the economy.

You can argue who is responsible but we need a rest, a break to find a proper solution....No more of these daily panic solutions.

They need to get it right or a meltdown will happen....



Quote from saliva:

Are you suggesting that banning short selling is a "solution"? Their objective, in my opinion, isn't to find a solution than to stick their head up their ass and hope that the problem will just go away.

You may also rest assured that the government will eventually need to expand their ban on short selling thorughout the whole stock universe and here's why. I feel that our entire economic infrastructure will be jeopardized by the mistake of this administration's insanely irresponsible approach to bailing out those idiotic banks. There will be a spillover into the rest of the economy should this bailout fail. If that were to happen, the whole economy will simply freeze and the stock market will, of course, TANK!
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GE went from 26.80 to 29 solely on CNBC reporting that it will be added to the no short list, along with other companies.
Viva la revolution comrades.
 
Quote from gwac:

Salvia

Banning short selling gives the gov the time to find a realistic solution to the once in a lifetime situation. If the financial system stops then so does the economy.

You can argue who is responsible but we need a rest, a break to find a proper solution....No more of these daily panic solutions.

They need to get it right or a meltdown will happen....
More...


amen.


as much as i hate to say it...i agree.
 
what a fucking morning :D wild day on top of all the problems with IB.

bought some atm nov straddle. dont like the iv, but my prediction is there is no way the price will stay at this level for long after such a wild move and all the shorts holding the bag. Will scalp the underlying a bit to offset the theta
 
Quote from jasonjm:

does anyone know what the settlement price of the SEPT 08 ES future was that closed 9.30am EST today?
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I have a prelim number of 1279.31. Not sure if it has gone final or when it will.
 
Quote from gwac:

Jag did the fall in ES help you out or do you need it much lower?
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Its all going to depend on settlement of the Sept contract. Lower would still help, definitely below 1275 and if we got down closer to 1250 I would still have about 50% of my profits for the year.

Unfortunately I had to buy some December ES at 1265 in the premarket.

I had rewritten October ES call options this week to partially hedge my long position.

ES 1225C 31points
ES 1200C 26points
 
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