Gotta love ZERO RISK in the SP500 = $$$

Sold 20 ES 5060 PUT expiring on 5/1/2024 for $20. Also sold 20 ES 5100 Call for the same expiry for $6.2. Total max profit $26000 in 24 hours. The loss starts below 5034 and over 5126. Max loss unlimited.
 
nitrene said:
CPI will not fall much since rents keep rising, so do insurance & used car prices. The pumpers at Morgan Stanley are living on hopium. How can rents drop when their equivalent housing costs for ownership keep rising?

Here in the SF bay area whenever a property goes on sale there are 20 buyers ready to outbid each other. Good luck with your rents are in disinflation effluvium.
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I'm hearing insurance premiums are skyrocketing. I haven't gotten my policy renewal yet but I'm shaking to see what the percentage of increase its going to be...im thinking a minimum of 20%!
 
we were looking for May as the first rate cut..and tomorrow is May...But tomorrow, he has to also explain to the american public that NO rate cuts will happen in 2024. And this language and phrasing is what we are watching for. Will he Lie with a straight face to the american people...he might
 
Pricechange said:
we were looking for May as the first rate cut..and tomorrow is May...But tomorrow, he has to also explain to the american public that NO rate cuts will happen in 2024. And this language and phrasing is what we are watching for. Will he Lie with a straight face to the american people...he might
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Yeah. We already know that, yet the market almost always pumps like crazy during these fed things. You also add in the late day drop and it will be near impossible for the market to be down. I'm expecting a crazy pump to V today's action. Probably QQQ closes right back at 431-432.

I knew rate cuts weren't happening and the market still doesn't care. It actually likes rates at this level clearly.
 
v-shape-0DTE said:
Yeah. We already know that, yet the market almost always pumps like crazy during these fed things. You also add in the late day drop and it will be near impossible for the market to be down. I'm expecting a crazy pump to V today's action. Probably QQQ closes right back at 431-432.

I knew rate cuts weren't happening and the market still doesn't care. It actually likes rates at this level clearly.
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False. Look up the last 50 FOMC days and you would know. You did well for a few months, but these last few months you've been completely off mark. As late as Monday you said we'd never go below 5K again on SPX.

poopy said:
lol as if it has anything to do with tomorrow's rate decision. If you think it does then you are doing this wrong.
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Curious on your view unless it's not a secret.

The FED's next move seems predictable enough, so I'd imagine tomorrow (today) is already known and discounted, although I would think inflationary pressures and FED policy still are a big part of current selling pressure. I may easily be wrong.
 
My simple view, technically, is that the correction which started earlier is still in play, but it's obviously hard to navigate as these strong rallies makes everyone pile in thinking the correction is over. I wouldn't be surprised to see 4980 or lower on ES this week. And ultimately 4800 or so before possibly finding a bottom.
 
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