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huge stock market rally is over for now!
- Thread starter B. Rowshan
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I really don't follow or trade any of those. Please remember the premise of what I said. The resistance at S&P 928-930 may hold for months. So selling S&P 950 and 1000 calls for July, August and September is the favored trade. It's high reward and low risk if managed properly.Quote from Ivanovich:
I've taken out positions in DUG, EDZ and SDS, as well as shorts in XAG/USD AUD/JPY and AUD/USD. Let's see how far they can go.
S&P Aug 950 calls traded between $9-$9 1/2 on monday AFTER I made this call.Quote from B. Rowshan:
I can now state that these resistance numbers will probably hold for months. The significance of this conclusion is that I can sell S&P 950 & 1000 calls for july, august + september and collect alot of premium.
Current price: $7
take it to the bank amigo$ !
Quote from B. Rowshan:
I really don't follow or trade any of those. Please remember the premise of what I said. The resistance at S&P 928-930 may hold for months. So selling S&P 950 and 1000 calls for July, August and September is the favored trade. It's high reward and low risk if managed properly.
I understand. But all of those are directly correlated in some fashion to a drop in the S+P. So trading them (or entering in) at an S+P of 910 should be a good move if what you say holds true.
Even the lonely b. rowshan is entitled to a huge night !Quote from Ivanovich:
I'm sure you'll be spending it alone, since I can't think of people who would honestly want to hang around someone who acts like you.
Can it get any better than this? A gorgeous day. A great weather forecast for tonight. The dream police they live inside of my head. Talk dirty to me and i'll always be 2 steps behind !
Does it get any better than that ? It's a dream come true night for b. rowshan !
Went short XLY and PBR 6/15...this time profitting nicely and looking forward to a "nice roll down the hill"....covering 1/2 both @ XLY 21.19
The sideways movement now is why I was looking to sell premium to capitalize on the S&P's inability to rise above 930. I'm not prediciting doom and gloom right now, nor am I predicting a "death spiral". That's why it's risky to "double down" or go 3X short, or other get rich quick schemes. the market eats those people up.Quote from Ivanovich:
I understand. But all of those are directly correlated in some fashion to a drop in the S+P. So trading them (or entering in) at an S+P of 910 should be a good move if what you say holds true.
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