The S&P has topped !
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Momentum and technicals suggest we go higher. Your idea of a sharp correction this week seems highly unlikely. Next week, you'll need earnings surprises on the downside to have any chance.
Please tell me you are selling 1300 January calls. I love an exciting project. There is a fellow called Saxon that has a similar strategy to you, but he didn't make out as well as you claim to.
Not sure if I believe either of you, but everyone apparently likes a good story ( fiction or nonfiction ).
Believe what you want to, the question is can you formulate a related trading strategy and profit from it.
Please feel free to recommend a trade ( perhaps a put option with near month expiration ) that you are considering investing in.
You may be surprised how accurate you will need to be on the underlying asset and the timing to make money.
Earnings next week will just keep driving the market higher, I wouldn't doubt just one steady run into 2012, every tiny .25% drop is bought, I can't even remember the last time these markets had a sizable correction......everyone is talking about a continued run in the markets that every dip is to be bought. Even after a nearly 100% run in the markets in only 2 short years people are anticipating another 100%, just remember that FEAR is more powerful than greed!!!! Remember that when the markets are falling and a 25%+ correction is taking place.
we will keep going up over time.
Do us all a favour, list out all the 25% corrections in history and when they occurred. Next, list out all the bull markets in history, when they occurred, and what percentage they grew.
Now, actually THINK instead of posting mania. Where are we in THIS bull market ( still less then two years in ) ? What is the most logical move now, and how should one trade it ?
If you can't figure this out there is no hope for you as a trader. This part of it is very clear, you are far too emotional and driven to hysteria to trade effectively. Maybe I'm wrong, if so post your actual return on your trading account since March 2009, one of the easiest time periods to make money in recent history.