He got stopped out. And like the genius he is, he is getting re-short and moving his stop up and out. Sooner or later, he is going to nail it!
The S&P 500 has topped at 2430 on 6/1/17
- Thread starter volente_00
- Start date
He got stopped out. And like the genius he is, he is getting re-short and moving his stop up and out. Sooner or later, he is going to nail it!
I'm actually with OP on this one. Stayin' short and strong.
Everyone has their reasons backing their trades; we'll just have to see from retrospect whether it made sense to be positioned short at 2430 looking for move to 2350s.
Imho, from reverse psychology point of view, if I were long from the breakout around 2416, or the support around 2400, I'd be taking my profits here, so why not sell short?
Because the market was basing for two months at all time highs and is now breaking out to the upside. As the old saying goes..."the longer the base, the higher in space".
Holy crap! We're pushing 2435 right now.
Volume through the day is messssssed-up! The ES for 2 days in a row (That's an end-of-month, and a first-of-month) had half as many contracts as usual in the first 5-10 minutes, and then an additional 50% of usual contracts/minute in the last 3 minutes. This is something new, and quite dramatic; this is big agendas at work.
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.
Volume through the day is messssssed-up! The ES for 2 days in a row (That's an end-of-month, and a first-of-month) had half as many contracts as usual in the first 5-10 minutes, and then an additional 50% of usual contracts/minute in the last 3 minutes. This is something new, and quite dramatic; this is big agendas at work.
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.
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Dude, your about to get crushed, Volente knows what he has to do here once this goes wrong, but i hope you dont just average down blindly in too this. You are about to eat shit on this one, at best it comes back to 2400, we are drifting up on no volume, the only thing you can hope for now is for Trump to derail the market.
You are literally shorting a breakout, im not trying to rain on your parade i just really hope you admit your wrong cause your going to wreck on this one if you think people were just going long at 2400, that was a clear break after almost 3 months of consolidation.
Wow i didnt even see that earlier i thought 2430 was guaranteed, now ill probably wake up to 2450 lol. I was short 2379 took a 4 tick loss best loss ive ever took lol.
What I don't understand is this. The banks are trading like shit. They can barely uptick. Why not short the banks? If the market craps out, trust me, the banks are going to implode with the 2/10 flattening big time. But if we break out to new highs, the banks are just grinding side ways. Until the curve steepens again, they are dead money. Why not actually look for edges in your trades? Or is everyone on this site just looking for tax losses?
I think you are on too something here, if i win the lottery, but lose a million dollars trading, i can write the loss off against my lottery winnings. This might be a sound financial plan.
Geez man earlier in the thread i was saying 2430 was a given tomorrow, now we are already 5 points through it, it could be that the ES actually goes parabolic tomorrow and gives a good shorting opportunity cause this is just starting to look crazy.
I don't understand. The last call was correct.