SPX Has Topped For The Year Or Pabst Will Leave ET

Quote from Pabst:

I'm happy to share.

I sold 5 ES at 1331.00 on September 21st. (net) I was in and out a bit that week.

I sold 5 more on 9/27 at 1347.25

Monday I sold 5 more at 1341 and covered that 5 lot at 1341.25

Yesterday I sold 5 more at 1339.00 leaving me short 15 lots.

I then bought 5 lots on buys stops at 1341.00, 1341.50 and 1342.00, leaving me flat.

I then sold 5 yesterday at 1345.50 and covered those this morning at 1348.50.

My last trade is a 5 lot sale at 1349.00, leaving me with a position of -5

Riskarb has advised me to sell some 1280 puts for NovEx against my short futures. I'm more inclined to sell Octs since I think November is the month that will see the most damage. I doubt I'll add to my futures position in this area at this time.

My saying I'm leaving ET if this call doesn't work out was less a "Waterloo" over the market than a statement about the stupidity of some members here. I get frustrated. Perhaps I should just ask Baron to ban me from the Politics and Religion thread...... 90% of ET'ers are good fella's but the anti-American's should be shot. :)
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Why do you torture yourself ? If you do not know how to predict reversals you must wait for cycle completion .
 
Yeah, I suggested waiting for 4 handles lower [Monday's close at 1340] to sell 10, and another 4 handles on Tuesday [1336] to convert on the remaining 10 lot. We saw those 4 handles on Tuesday's open and then rallied to NH. Admittedly, the Tuesday trade would've been close.

You're correct, it was more like 11 points lower on average. Anyway, I am not here to add insult to injury -- I had hoped to see you bank the synthetic.
 
Quote from Dr. Zhivodka:

Note to self: When Pabst makes another one of his quarterly apocalyptic calls....buy with both hands.

:D
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You know psychology very well Doc. Naturally I'm concerned that the strength of my bearishness is a fade. It usually is! That's why I'm trying real hard to not let this get out of hand. The best trades are those subconscious zen like moments that come without thought. I very well may be trying to hard to see something that ain't here......

I am however buoyed by the fact that with the Dow making new all time highs each day that the secondary indices are relatively dead in the water.
 
Tell me about it. I used to have 500 Bonds on and now I'm sweating out the pit traded equivalent of a One lot!!!

Quote from Dr. Zhivodka:

lots' O Drama for a 5 lot.

C'mon Pabst at least make this interesting.

:D
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"When you grab the pebble from my hand you may leave"

Be the pebble Pabst.



Quote from Pabst:

You know psychology very well Doc. Naturally I'm concerned that the strength of my bearishness is a fade. It usually is! That's why I'm trying real hard to not let this get out of hand. The best trades are those subconscious zen like moments that come without thought. I very well may be trying to hard to see something that ain't here......

I am however buoyed by the fact that with the Dow making new all time highs each day that the secondary indices are relatively dead in the water.
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I really think MyMini , though bashed in the past, has provided a great explanation for the continuous upside in the DJIA. But then again how many pro-American 'extremists' would believe such a conspiracy theory, how many of these have even bothered watching more than 15 minutes of "Fahrenheit 9/11" I wonder? It does help to have an open mind on what might be happening out there.
 
Quote from Pabst:

I'm happy to share.

I sold 5 ES at 1331.00 on September 21st. (net) I was in and out a bit that week.

I sold 5 more on 9/27 at 1347.25

Monday I sold 5 more at 1341 and covered that 5 lot at 1341.25

Yesterday I sold 5 more at 1339.00 leaving me short 15 lots.

I then bought 5 lots on buys stops at 1341.00, 1341.50 and 1342.00, leaving me flat.

I then sold 5 yesterday at 1345.50 and covered those this morning at 1348.50.

My last trade is a 5 lot sale at 1349.00, leaving me with a position of -5

Riskarb has advised me to sell some 1280 puts for NovEx against my short futures. I'm more inclined to sell Octs since I think November is the month that will see the most damage. I doubt I'll add to my futures position in this area at this time.

My saying I'm leaving ET if this call doesn't work out was less a "Waterloo" over the market than a statement about the stupidity of some members here. I get frustrated. Perhaps I should just ask Baron to ban me from the Politics and Religion thread...... 90% of ET'ers are good fella's but the anti-American's should be shot. :)
More...

I agree... the constitution is over rated...

:)

cj...
 
I enjoyed minime's IB demo trading; as well as his disclosure that SAC forced him to sign a ND doc as a condition of employment -- only the break the ND the following day. Very entertaining.

Pabst needs to learn that this site is first and foremost a sitcom. ET would be an empty vessel w/o buffoons like Surfer and Minime.
 
Quote from riskarb:

I enjoyed minime's IB demo trading; as well as his disclosure that SAC forced him to sign a ND doc as a condition of employment -- only the break the ND the following day. Very entertaining.

Pabst needs to learn that this site is first and foremost a sitcom. ET would be an empty vessel w/o buffoons like Surfer and Minime.
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I am referring to this http://www.elitetrader.com/vb/showthread.php?s=&threadid=75417, not his demo trades. Trust me, I've given him enough pasting over those images. But when a person makes a call that good, I'd tell him - Hey, excellent call!
 
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