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s&p just made intermediate term top @ 1326.7
- Thread starter thorn
- Start date
Quote from lilduckling:
You will know wether or not my money is were my mouth is after next week. I guarantee it.
Don't bet your whole stake on one trade,
not the way you want to proceed in the game my friend. You are a professional or aiming to be one, not a gambler.
Think of trades in 3 ways
1) trades that get stopped out
2) trades that go your way
3) trades that really go your way
If you get #3, its just part of the game, be happy. Its like hitting a homerun after hitting 30 singles. thats your reward for staying in the game.
None of the trades should be:
4) trades that take you out of the game.
Good luck on your trade.
Quote from EqtTrdr:
you really think the market gets hit during op ex??? I would think they would wait till the following week to crush it
Yes. That's one of the main reasons I think it will be hit this week. Hey, we've seen too many upside biases into an expiration week. It's time to average it out. Too many upside shenanigans on the options expiration price recently. For ex. I was short April 1320 calls, and the index closed at 1311 on thursday 4/20. I'm safe right? Wrong! The next day, though the highest it traded was 1317.7, they managed to "close" it @ 1320.7 robbing me of $.7 per contract.
Next week preceeds a long, patriotic holiday weekend. There is rarely a market bashing in the days leading up to a long weekend. And I hope that's the way it is this year, as i'm going to LV on 5/24 and do not trade while i'm away!!
Quote from coolweb:
Don't bet your whole stake on one trade,
not the way you want to proceed in the game my friend. You are a professional or aiming to be one, not a gambler.
Think of trades in 3 ways
1) trades that get stopped out
2) trades that go your way
3) trades that really go your way
If you get #3, its just part of the game, be happy. Its like hitting a homerun after hitting 30 singles. thats your reward for staying in the game.
None of the trades should be:
4) trades that take you out of the game.
Good luck on your trade.
Its better to burn out than to fade away..... besides, I'm confident that my frankenindicator wouldn't lie to me..... Its all down down DOWN..... (with a few tiny retraces to trick the young bulls.)
You bears are smoking crack. I am long right now at 1291 and will sell at 1304 by Friday.
Quote from volente_00:
You bears are smoking crack. I am long right now at 1291 and will sell at 1304 by Friday.
.... thats possible.... but just a speck though on things to come... overall its doward from here on end.... ES will not see 1315.
Also, im talking on bigger time frame then a day or 2.... talking several weeks.
Quote from thorn:
Good night s&p index. That is an intermediate top at 1326.7. s&p won't see that level again for many, many months.
This is the week that the "buy and hold" system, or "buy the dip" system will be proven wrong. I expect major pain for anyone long anything.
I hope that in the true spirit of ET, all those perma-bulls who dismissed the notion that the market could correct itself so quickly, 5% or 10% or more, come on this thread and admit they lost and were wrong.
I hope there are people of honor on this site, who will acknowledge the above quote made before the market traded this week.
Good call, but don't brag too much (a little bit is OK).Quote from thorn:
what is that? about 40 pts my way since I made this call?
I'm also making money on this move, though I'm making more on the declining 10-yr bond than on my S&P position.
As I've stated on other boards, I think this market is entirely liquidity driven. Everything (stocks, bonds, commodities, real estate) moved up together for years and now they are all going to decline.