The S&P has topped !!

[Buy1Sell2]

Tradingbug, sorry my name gave you the impression that I am a perennial bear--it actually doesn't refer to shorting--I apologize.

 

[doublea]

Quote from volente_00:

Just joined you at the same. We can go 10 points either way tomorrow, but I think we will close down.

I think it will be a big move in either direction. If we close up big tomorrow, I'll go long at the EOD, otherwise I'll stay short.

 

[doublea]

Quote from doublea:

Still think that 1296 in ES will be a major resistance. Stop will be around 1305. The last few day's bounce was more of a 50 dma technical bounce. I think it is good idea to fade any type of technical bounce/ sell-off at a longer-term resistance/ support. If the Fed leaves the interest rate unchanged and we see a rally, that'll be a fundamental rally which will likely take us higher.

This is not an actual trade but let's see how this will work at the end of expiration on Feb for SPY. (The prices are Friday's close.)
Buy 130 calls @ $.70 and buy 130 puts @ $1.90 for a total of $2.6.

Total potential loss(on 1 contract) = $260+ commissions.
Breakeven @ 127.4 or 132.6

Today 130C closed @ $.70 and 130P closed @ $1.95.

 

[invaliduser]

I say FOMC should lower rates tomorrow so dow can hit 14000.

 

[lilduckling]

Quote from lilduckling:

hmmm this one is tricky..... Maybe it wont make a new high this month... but it will be rallying towards the high by the end of the month.

I say S&P will end the month at 1286!

EDIT:.... sorry but... i changed my mind. I believe S&P will make a new high by the end on this month.

Oh why did i ever edit this?

 

[volente_00]

Took some off the table at 1287. Still holding half with a BE stop.

 

[volente_00]

covered the rest at 1285.75 just in case we bounce on the eco #.

 

[rubberbird]

Quote from doublea:

Short @ 1288.75. I've got a pretty wide stop so hopefully I won't be stopped out by the usual knee-jerk reaction after the fed meeting. I doubt that they will hint on stopping further rate increases.

once again, double A has my sentiments exactly.

is it just me? i'm beginning to enjoy these new "soft" real estate markets.
That bubble has bursted in the face of the greedy!

 

[rubberbird]

Quote from doublea:

Short @ 1288.75. I've got a pretty wide stop so hopefully I won't be stopped out by the usual knee-jerk reaction after the fed meeting. I doubt that they will hint on stopping further rate increases.

like I said, great call and trade. And thanks for posting it here,
your post kept the idea fresh in my mind as trading evolved today.
I thank you for that.

 

[doublea]

Quote from rubberbird:

like I said, great call and trade. And thanks for posting it here,
your post kept the idea fresh in my mind as trading evolved today.
I thank you for that.

Thanks Bird. Nice call on the 1300 being the top for January. I think the real carnage is going to begin soon. Today's action was the tip of the iceberg. See you at 1200. I always follow my own plan but it sure does feel good to have you on the same side.