Selling the dow over the weekend...
- Thread starter spanish89
- Start date
I really wanted to buy a retail sector inverse ETF today, but did not see any weakness in the market to encourage me to do so. I would not be surprised to see some sort of bad economic news this weekend, like poor retail sales on black Friday. If so, we could get a gap down by Monday morning and those of you who went short today may be richly rewarded. I do not see any way that we can avoid a terrible holiday shopping season this year with so many people out of work or in foreclosure and with so many people seeing the balance in their retirement accounts cut in half. I used to get about 5 credit card applications in the mail each week, but cannot remember the last time I received one. So I bet people have less credit cards as well.
Economy has nothing to do with the market. If there is any relationship it is: markets make or destroy fundamentals, not the other way around as they have put in your head. Clean those germs they may have put in your head Doc.... Take it friendly Dr.
so someone sold you a put. the clock is running (I hear it ticking... do you?). Listen a bit closely, and you will hear it.... hehehe.
It can retrace but the low of Friday has been noticed by a lot of people, including the still trapped bears.
Is your put OTM? Expiration?
As soon as you can pass along your hot potato, give it to someone else. Hot potatoe can burn!
It can retrace but the low of Friday has been noticed by a lot of people, including the still trapped bears.
Is your put OTM? Expiration?
As soon as you can pass along your hot potato, give it to someone else. Hot potatoe can burn!
Quote from plumber68:
How many contracts did you sell ? Just wondering (misery loves company), don't answer if you don't want to. But why so many if you risk your whole account ?
Aloha mate..
Im from the UK and so to avoid paying any tax i trade through an sb firm not a broker, as i wouldnt trust a broker with my cash anyways!
So when you use an sb firm you trade at £s per point.
So i sold it at £8 per point, but cos ive ahd to withdraw lots money i only have £5,600 capital left.
And so the furthest i can afford to put my stoploss is 9150, since its about 425points from my entry, and 425 x 8 = £3,400.
(however they need you to have extra incase of slippage over weekend/nights).
I have been trading for many many months now, the capital i have is all the money i have in the world, and i need to earn over £1,300 per month just to avoid being homeless! :/
And so to hav gone from £759 to making over £18,000 profit from that since i started fulltime in june, and specialising in trading of spikes for the pullback,
i extremely rarely get it wrong.
So you shouldnt worry plumber mate, since all the dow is is an elastic band.
The harder you pull it the harder and faster it snaps back!!
Ive put the chart to show on what basis i made trade from the level i did, and the target level.