I am being SQUEEZED!!!! by the ES

In fact, nobody's traded a mortgage in two years. Let's talk about what works right here, right now.
 
I guess you didn't get this memo (err, the video). :p

I'm not sure the guy is being literal or just being cheeky. This whole damn stock market crap is one giant ponzi scheme.

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Quote from saxon22:

32 cars sitting at -15K and no breather in sight. It is gonna be a tough weekend to survive without cigs.

For those who like to watch:


32 @ 1211 looking to unload it around 1200. Needs to happen by 12/15.
More...

I would close half the position (16 cars) and sell 20 Puts on ES @ 1210 in the premarket.
Save your skin.
Just my 2 cents.
 
"and sell 20 Puts on ES @ 1210 in the premarket"

Personally, I've never been a big believer in the 'Texas Hedge' at extreme deltas from the original price level, so IMO the puts would be a distant second choice to covering half the position at the open. If you cover half the position at the open it would really help things for you emotionally - if the market continues to go against you further pain infliction will be greatly reduced, and if the market moves back torward you again it will certainly look better for you than Friday's closing mark.

Good luck.
 
Quote from bone:

ALL OF THESE BIG BOYS CAPTURE SPREAD DIFFERENTIALS FOR SIZE. NOBODY TAKES DIRECTIONAL RISK FOR SIZE. NO FUND OR BANK OR PRIVATE EQUITY FIRM ALLOWS DIRECTIONAL RISK.
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I doubt Buffett built the majority of his fortune by betting spreads.
 
Quote from saxon22:

32 cars sitting at -15K and no breather in sight. It is gonna be a tough weekend to survive without cigs.

For those who like to watch:


32 @ 1211 looking to unload it around 1200. Needs to happen by 12/15.
More...
you have a double top going for you, I guess you just simply run out of time hang in there.
 
Quote from saxon22:

32 cars sitting at -15K and no breather in sight. It is gonna be a tough weekend to survive without cigs.

For those who like to watch:


32 @ 1211 looking to unload it around 1200. Needs to happen by 12/15.
More...

Agree with what others have said about executing your plan. If your plan says you should have been out by now, get out immediately. Trading for a living is a marathon, not a sprint.
 
Quote from logic_man:

If your plan says you should have been out by now, get out immediately.
More...

Uhh, he already told you his plan is to take profits at 1200, else get out on 15 Dec... Holding till profit-or-busted is a tough way to make a living, but to each his own. Certainly I've had my share of awful trades too, as has anyone who's been in business a while.
 
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