The S&P 500 has topped at 2430 on 6/1/17

[Max E.]

out 2430.755 thought there would be push to that move but it just stuffed.

 

[Buy1Sell2]

out 2430.755 thought there would be push to that move but it just stuffed.

I think intraday, and I have to assume this was an intraday trade, that the path of least resistance is up. How bout posting this in the wide open ES Journal?

 

[Max E.]

I think intraday, and I have to assume this was an intraday trade, that the path of least resistance is up. How bout posting this in the wide open ES Journal?

Not sure what you mean by that but if you wanna see my entries an exits, here it is nothing stellar, i suck thought it was getting stuffed at 31.

 

[Buy1Sell2]

Not sure what you mean by that but if you wanna see my entries an exits, here it is nothing stellar, i suck thought it was getting stuffed at 31.

View attachment 174249

I just mean that it would be nice to see the trade postings in the ES Journal----The People's Journal.

 

[Max E.]

I just mean that it would be nice to see the trade postings in the ES Journal----The People's Journal.

Oh ok that makes sense, i thought you werre telling me to back up a shitty trade, lol like i wish i didnt even say i did that but i did.

 

[Aj2014]

pushing up now. The Low is likely in. Blue skies ahead

 

[tommcginnis]

Holy crap! We're pushing 2435 right now.

I have *nothing* on beyond Jun09 (I'm thick at 2440 now) -- and I'm guessing that my best move will be to split/roll 2440s ($5-wide and $10-wide) north and south to June16th -- I can take a $1.30 $5-wide from 2440 on Jun09, and go June 16th 2460 for 70¢, and go 2385 for 65¢, and call it good. I'm actually looking at selling Jun09 2400 tomorrow. Holy cow. (My rational self sez, "Dude, it's 35 points away, and if the market falls, vol will pop anyway, and grease your downside exits.....")

I'll still be shaking in my boots, regardless -- what to keep in Jun09, what to take forward. Tomorrow, we'll be stair-stepping up some more, I fear -- I don't think this is over by a good bit -- closing above 2445-2450ish is entirely doable -- so it's off to bed for a good night's sleep.

Perverse things about option sellers:
1) We *wish* we're wrong; we *hate* being "correct."
2) Working both sides of the market, we have an opportunity to be wrong *twice*.

2434 now. Working hard.

LUCK, SKILL, GRACE, PATIENCE to all.

 

[bone]

Non-Orginal thought: Smarter money sells underperforming sector(s) and buys index as a relative value play. And vice-versa with thousands of permutations thereof.

It is perfectly reasonable for a modestly capitalized retail trader to trade in this way. When modeled properly this type of approach also provides the added convenience of not having to endure the shit risk/reward skew and sharp drawdowns involved in timing flat price markets.

 

[Max E.]

Perverse things about option sellers:
1) We *wish* we're wrong; we *hate* being "correct."
2) Working both sides of the market, we have an opportunity to be wrong *twice*.

2434 now. Working hard.

LUCK, SKILL, GRACE, PATIENCE to all.

LOL, the art of corporate speak, listen to any conference call and your sure to here the word "Synergy" or else "Capital Control" The best used to be the airlines back in the day the CEO's would be like "yeah we really lost our ass this quarter, but were working on eliminating the passengers from the seats" It was the funniest shit ever It was the funniest shit ever, some asshole would be on the conference call and he thought he was steve jobs cause he thought of a way to fly customers somewhere withouth dragging their luggage.

Monster savings if you dont got to cary that pesky luggage, it just wieghs you down anyways.

 

[Aj2014]

pushing up now. The Low is likely in. Blue skies ahead