Market is churning...

Trend Fader,

I think the market is also weak as well,

but not weak enough :)

piercing S&R's like what happened today means the battle is still on.

I like to step aside and let the soliders beat themselves to death, then come on the field full of carcasses and get my goods :)
 
Just read page 2 :D Safe move on the calls. I posted my GM January bear put spread on another thread earlier...

Long 6jan20 @ $1.25
Short 6jan17.5 @ $0.70

Out of pocket: $55/contract
 
Quote from coolweb:

Trend Fader,

I think the market is also weak as well,

but not weak enough :)

piercing S&R's like what happened today means the battle is still on.

I like to step aside and let the soliders beat themselves to death, then come on the field full of carcasses and get my goods :)
More...

I agree its very strong.. thats why I sold calls and didnt short the market..

I picked up $1.25 in premium.. there was almost 40 cents in time value the next few days... as long as marke stays flat to lower.. i wll be making nearly 35-40% of the full potential ( assuming calls expire worthless)

I think thats a good bet.. because I also long a bunch of stock to hedge the trade..


--MIKE
 
Quote from MacroEvent:

PPI tomorrow
More...


Hold the indexes {at or near flat} while then "masking" your equities selling getting positioned for tomorrows PPI {look at all the sell-programs that hit today} --- just in case the news is rough after a 12 day run up!

yes the institutions have this method mastered.
 
Tuesday - PPI and Retail Sales

Wednesday - CPI and EIA Petroleum Status

Thursday - Housing Starts, Jobless numbers, Industrial Production and Philly Fed Survey.

Friday - Options expiration

:eek: I hope that's enough to get us rockin' and rollin' this week. I'm sick of this trading range crap. :D
 
I am going to stick with my prediction of a high around 1245 on ES for the year but I thing we are due for a bit of a pull back to say 1228-9 or so before going higher. However it would be very scary to be short the broad market this time of year.
 
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