The S&P has topped

[volente_00]

Considering the context of this advance, it is relatively brave.

How many trading days has it been since the market pulled back 1% or more since I called this top ?

 

[volente_00]

Ask Baron if you can re-title the thread "channel top range trade".

Ask Baron if you can re-title the thread "channel top range trade".

Actually the correct title will be
"S&P will not trade over 2426 before a 13% correction takes it down"

 

[Gotcha]

Actually the correct title will be
"S&P will not trade over 2426 before a 13% correction takes it down"

I like that you have the balls to make a concrete prediction with targets.

 

[volente_00]

What gives right? Why sell $2 calls in SPY? I mean I don't mind the call. I just don't get the selling of calls and even more annoying, why SPY calls over ES calls. Span margin! Come on. It's amateur hour here. This market could crash and this guy is going to take the equivalent of 20 ES handles out of the move. That will really make him look like an ass.

You don't know a lot about trading do you? You'll not be responded to again.

Seems to be a common theme in this thread

 

[volente_00]

Hey @propwarrior , no disrespect to you, but I see you really taking the position here that the OP is totally out to lunch, and yet, I still very fondly remember your thread about how we need to buckle up, 50% off equities, gold will be higher, QE4, etc. So I don't know, but a fabulously wrong call needs to be kept in perspective when evaluating what you have to say.

https://www.elitetrader.com/et/threads/buckle-up-guys-its-starting.302641/

Now that's some funny shit right there. Thanks for the laugh

 

[volente_00]

What gives right? Why sell $2 calls in SPY? I mean I don't mind the call. I just don't get the selling of calls and even more annoying, why SPY calls over ES calls. Span margin! Come on. It's amateur hour here. This market could crash and this guy is going to take the equivalent of 20 ES handles out of the move. That will really make him look like an ass.

I'm naked short ES.
Perhaps you need an ESL refresher.

 

[volente_00]

SPX 2009 Bear market low * fib 261.8% added to it gets 2412.45 or a mere 29 points from Friday's close.
View attachment 171327

Interesting

 

[tommcginnis]

What happened to this prediction???

I had to burn 1/3rd of my week's harvest in re-plowing fees, that's what happened!

(Only to have the day end flat, and threatening a topside move again.

)

AND I got absolutely ZERO beer from anyone. DANG.

 

[Gotcha]

I had to burn 1/3rd of my week's harvest in re-plowing fees, that's what happened!

(Only to have the day end flat, and threatening a topside move again.

)

Sorry, I find the way you write sometimes difficult to understand. Are you saying you lost 1/3 week's worth of profits on this call? In other words, you were positioned long which didn't materialize so you lost money?

 

[tommcginnis]

Sorry, I find the way you write sometimes difficult to understand. Are you saying you lost 1/3 week's worth of profits on this call? In other words, you were positioned long which didn't materialize so you lost money?

It means a considerable fraction of revenue intended for income, was instead (re-)spent on commissions to roll put spreads away from the heat.