You are trading to make 4%, so it's not a blue ribbon special, but good luck w the trade anyway.
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Pabst's Blue Ribbon Trades
- Thread starter Pa(b)st Prime
- Start date
You are trading to make 4%, so it's not a blue ribbon special, but good luck w the trade anyway.
Nice trading Bob. As alway's. What's your take on SPX?
Still long some Jan puts (rolled from Dec). I lost 10k Friday on a SMALL position. Brutal. I have good res here in all indices. Anything more than a few points higher in SPX and I'll have to bite the bullet and cover. Sentiment is a tad more bullish than mid week. Perhaps we stop right here. Tough call. Hard for me to believe buyers are ling up to be the first new longs in January.
Still long some Jan puts (rolled from Dec). I lost 10k Friday on a SMALL position. Brutal. I have good res here in all indices. Anything more than a few points higher in SPX and I'll have to bite the bullet and cover. Sentiment is a tad more bullish than mid week. Perhaps we stop right here. Tough call. Hard for me to believe buyers are ling up to be the first new longs in January.
Quote from Pa(b)st Prime:
What's your take on SPX?
Hey Pabst! My view on the SPX? I won't trade it until 1/7. And I leave it with the small hope that on 1/7 the SPX index is alittle higher than where we stand today.
Happy holidays to you and everyone. Todays market is not for trading, it's for making sure, once and for all, that the NYSE restores the pre-opening indications. We'll find out in about an hour..
Quote from kinggyppo:
Ok I'm game I don't want you to be alone here. My point was that trading can be streaky, no bash on your expertise. For what it is worth I don't care if you go 99/100, it will not increase my equity one penny. Ok, fade RIMM here trading at $119.70 looking to get out at $115.00 stop at $125.00.
just covered $117.76 for $1.94
Quote from Pa(b)st Prime:
Nice trading Bob. As alway's. What's your take on SPX?
Still long some Jan puts (rolled from Dec). I lost 10k Friday on a SMALL position. Brutal. I have good res here in all indices. Anything more than a few points higher in SPX and I'll have to bite the bullet and cover. Sentiment is a tad more bullish than mid week. Perhaps we stop right here. Tough call. Hard for me to believe buyers are ling up to be the first new longs in January.
Still long puts. Monday's lows are significant to my measurements. A penetration could portend a mega-break.
I agree 100% with you guys here. Although I think we are in for a minor "pop". My numbers tell me that we could pop to 1440-1450. After that I am looking for a setup to get short this thing. 1400 is a huge level as im sure all of you guys can see. Extreme selling should occur here. I think we could potentially take this thing down to 1300.......maybe farther!
My plan of attack is to wait for a pop to 1440-1450 and then look for a setup. If we don't get the pop im waiting for a break below 1400 and then get short on a retracement back to around 1400.
LOOK OUT BELOW!!!
My plan of attack is to wait for a pop to 1440-1450 and then look for a setup. If we don't get the pop im waiting for a break below 1400 and then get short on a retracement back to around 1400.
LOOK OUT BELOW!!!
Quote from youngtrader:
Although I think we are in for a minor "pop". My numbers tell me that we could pop to 1440-1450. After that I am looking for a setup to get short this thing. 1400 is a huge level as im sure all of you guys can see.
Youngtrader, i'm impressed with how fast your absorbing the art of winning in the stock market. And I hope you're right, that the S&P gets up to 1440-1450, but i'm prepared for it not to.
Anyway, the best way to profit whether the S&P bounces or doesn't bounce is to find the individual stocks that are ready to crack regardless of a bounce. That's how I make my pennies, by trading the individual stocks. I haven't traded a stock index in a long time.