ES Journal Archive (2011)

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Quote from eudaemon:


05-09-11 10:50 AM

Comedian's weekly report:

The low of May has not been set. It'll be substantially lower, likely (98% odds) next week or later. Longs are currently for the extremely skilled or the foolish. 150+ points crash from friday's close is a very likely scenario before the next option expiration.

The Matador is active and hungry.

End of transmission.

Although the market has indeed drifted lower, it hasn't crashed hard and fast and therefore my long premium strategy hasn't benefited much. In fact I'd be losing money had I not played Pachinko scalping with the aid of a few of Volente's posts and trade levels to compensate for the time decay. I had to roll over to the next month to give it another week for the market to crash. Really very small % increase to my account. Nothing to be proud of.

My only consolation are the pain suffered by the myriad of perma-bulls that are losing their ass since the market topped, and that came often here to gloat about their trading prowess.

I'll be taking a vacation with some of their losses, which are part of my small winnings.

If the market doesn't crash by the end of May. I'll flatten this trade/gamble/call/crapshoot. If it crashes, I will also flatten it.
:p
 
Quote from eudaemon:

Although the market has indeed drifted lower, it hasn't crashed hard and fast and therefore my long premium strategy hasn't benefited much. In fact I'd be losing money had I not played Pachinko scalping with the aid of a few of Volente's posts and trade levels to compensate for the time decay. I had to roll over to the next month to give it another week for the market to crash. Really very small % increase to my account. Nothing to be proud of.

My only consolation are the pain suffered by the myriad of perma-bulls that are losing their ass since the market topped, and that came often here to gloat about their trading prowess.

I'll be taking a vacation with some of their losses, which are part of my small winnings.

If the market doesn't crash by the end of May. I'll flatten this trade/gamble/call/crapshoot. If it crashes, I will also flatten it.
:p
whats the position
 
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