yaaaawn
markets have done nothing since jan 23
markets have done nothing since jan 23
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not much to move markets tomorrow,Friday April 18th...what can move it?
- Thread starter increasenow
- Start date
Quote from flipflopper:
I loaded my swing account with May 135 SPY Puts over the last 2 days... if you think this rally has legs you may soon be humbled. After options expire tomorrow we begin to fall apart.
Fundamentally speaking there is absolutely nothing to fuel this bear market rally. It has been running on fumes for a while and though its been fun the party will get crashed. Intel met lowered expectations and GOOG proved that people still surf the internet and comscore is a huge joke.
We have a few little monsters in the closet that won't go away that easily.
I feel like I've already cashed in my options and won the trade just because this one seems like the best opportunity I've seen for free money since the Fed meeting in December.
We'll see if the market humbles me.
How'd those puts work out?
Quote from flipflopper:
I'll tell you in May. But I did double up today in the swing account. Couldn't help myself.... was salivating too hard.
Careful. Averaging down can kill you. With the market up so much today, we'll be short-term overbought in a day or two and you might be able to get out with a profit but we could also consolidate for a few days and move sharply higher which would really suck for your index puts.
Quote from DeepFried:
Careful. Averaging down can kill you. With the market up so much today, we'll be short-term overbought in a day or two and you might be able to get out with a profit but we could also consolidate for a few days and move sharply higher which would really suck for your index puts.
Yeah... the beauty is I'm ready to lose everything I put into those puts. It's not a crazy huge position about 7K... and I really do plan to cover the 3rd week in May.
So we'll see. This play is based on fundamentals and my belief that reality will kick in in the next month. If not I'll probably more then make up for it daytrading as this market has been pretty easy to trade lately (relentless bid). But as you know that can change in a heartbeat.