ES Journal Archive (2009 - 2010)

saliva · Jun 16, 2009

Quote from riskymove:

Totally agree - it's getting completely silly - everytime we break and hit a new low of day we get all kinds of buying coming in to take us right back. Makes no damn sense.

And the previous 3-month of insane rally isn't? Welcome to the real world bro!

Lucrum · Jun 16, 2009

Quote from Lucrum:
06-16-09 03:44 PM
As long as today's low holds I'm leaning towards longs.

Nothing like publicly posting your bias to get the market to immediately do the exact opposite.

saliva · Jun 16, 2009

There's only two possibilities at play in this current market.

1) Uncle Sam's printing press is running out of paper.
2) The whales are sick and tired of being told what to do and are revolting en masse.

So how long will it take to reach the devil's hideout at 666 from here? Considering that it took only 3 months to climb this far, well...

ammo · Jun 16, 2009

the down slides are always a lot quicker than the rallies, the 90 puts /calls in spy are fat so i would look for it to hold that til fri am

riskymove · Jun 16, 2009

Quote from ammo:

the down slides are always a lot quicker than the rallies, the 90 puts /calls in spy are fat so i would look for it to hold that til fri am

Y they are - the problem though is that 800 and 850 (in the SPX big contract) was where the huge OI was until Monday. I guess everyone decided there was no way we were going to get down there. So while OI is big at 900 (on yesterday's closing interest) its just recently overtaken the 850 and 800 level OI.

saliva · Jun 16, 2009

Quote from ammo:

the down slides are always a lot quicker than the rallies, the 90 puts /calls in spy are fat so i would look for it to hold that til fri am

Am I wrong to assume that a massive selloff doesn't usually happen until those who hold the calls are hanged? What's likely to happen if we were to plunge below 890 by Thursday close?

ammo · Jun 16, 2009

http://www.optionpain.com/MaxPain/Max-Pain.php

trackstar · Jun 16, 2009

this is more interesting to me due to the fact it is right at my target.

http://www.optionpain.com/MaxPain/Max-Pain.php

jason586 · Jun 16, 2009

Quote from lurefo:

I hope the dollar goal will not be too much pressure on your trading...

The less pressure you have, the more relaxed and objective you are, the better.

I wish you all the best and congrats on the baby.

I actually have the $100 a day goal to take pressure off as I, like most, try to make too much too fast; I can easily put unrealistic goals on myself.
Today makes two good days in a row with no positions being held currently (although I wish I would have held that last 911.75 short through the close). Finished at $13,485 with 35 trading days, so I basically made it back back to the $100/day and my highest close to date.

riskymove · Jun 16, 2009

wow - that is very interesting - I have never seen that - I used OI a ton but the graphic and ease of use there is pretty impressive - now if only I knew if their data were accurate!

Thanks for sharing that ammo! I am using it to check out the SPYs. http://www.optionpain.com/MaxPain/Max-Pain.php