Gotta love ZERO RISK in the SP500 = $$$

romik said:
Like most here I've studied charts for a long time and I just can't see it going to new highs before there is at least one more push down, perhaps I will not get what I wanted initially (1700 zone), but staying short, stand to lose a lot of money if this goes to new highs first.
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SPX 1W.png

SPX Weekly
Bull or Bear it does not matter, in all cases there s a winning opportunity for everyone. SPX needs to correct in the very near term which is a chance for the shorts to get out clean or ITM. The bulls are enjoying the current ride to higher levels, this may or may not be the last rally depending on the upcoming bottom, the critical 2050 falling trend and the year's all time high.

Not sure if the next correction will make it to 1700, would love to see that but i m good with any direction. i m riding the rally, and still short as well, with an average of 1958 and averaging up every 20 points. Can go all the way up to 2150 then reverse martingale (shift legs) in case the rally extends.

PS: This is no invitation to buy or sell, just a subjective view and sharing my trades in line with my profile. Do not base your view or trades on others!
 
classiccharts17 said:
View attachment 157888
SPX Weekly
Bull or Bear it does not matter, in all cases there s a winning opportunity for everyone. SPX needs to correct in the very near term which is a chance for the shorts to get out clean or ITM. The bulls are enjoying the current ride to higher levels, this may or may not be the last rally depending on the upcoming bottom, the critical 2050 falling trend and the year's all time high.

Not sure if the next correction will make it to 1700, would love to see that but i m good with any direction. i m riding the rally, and still short as well, with an average of 1958 and averaging up every 20 points. Can go all the way up to 2150 then reverse martingale (shift legs) in case the rally extends.

PS: This is no invitation to buy or sell, just a subjective view and sharing my trades in line with my profile. Do not base your view or trades on others!
More...

Yeah, I'm just going back to legging into spreads again...If it goes bonkers higher that's fine and if it reverses that works as well...I made the mistake of under hedging some longer term puts (figuring we'd have some pullback from the rally...don't know why I keep forgetting how our modern markets work)...anyhow, your approach seems reasonable if you can endure the pain of a large scale...
 
Forgot to mention: sold SPY Nov 200 calls @ 4.41 earlier today when it was near 200... will delta hedge if it starts going berzerker again.
 
whaa...Japan, Hong Kong etc, don't know what to make of spx after fed day. Mid morning in Asia 10/8 and the es hasn't moved more than 1 or 2 points higher or lower...ticks are level....never saw the es that flat
 
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classiccharts17 said:
View attachment 157888
SPX Weekly
Bull or Bear it does not matter, in all cases there s a winning opportunity for everyone. SPX needs to correct in the very near term which is a chance for the shorts to get out clean or ITM. The bulls are enjoying the current ride to higher levels, this may or may not be the last rally depending on the upcoming bottom, the critical 2050 falling trend and the year's all time high.

Not sure if the next correction will make it to 1700, would love to see that but i m good with any direction. i m riding the rally, and still short as well, with an average of 1958 and averaging up every 20 points. Can go all the way up to 2150 then reverse martingale (shift legs) in case the rally extends.

PS: This is no invitation to buy or sell, just a subjective view and sharing my trades in line with my profile. Do not base your view or trades on others!
More...

good post...ES 2005....bit of sanity after all the emotion earlier...cool calm collected
 
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Pricechange said:
This was from jobs numbers day last Friday, ES 1883...just after spx fell hard, then proceeded to move much much much higher.

again...a moment of sanity in the middle of high emotion...nice cool collected trading. I must try working harder to achieve this
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Rational, sane way to look at AAPL : P/E 12.57, Yield 1.9%, great balance sheet
Irrational : Price is "too high".
 
der_kommissar said:
Yeah, I'm just going back to legging into spreads again...If it goes bonkers higher that's fine and if it reverses that works as well...I made the mistake of under hedging some longer term puts (figuring we'd have some pullback from the rally...don't know why I keep forgetting how our modern markets work)...anyhow, your approach seems reasonable if you can endure the pain of a large scale...
More...

Legging into spread for me, only in ranges, and when i m fading or, in this case when the trend reverses (extended leg) Soon or late i will have to take some loses if this is not a major bear move.
 
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