The S&P is looking very toppy

Quote from stockteacher:

Yes I agree, we must keep a close eye on this range, it is constantly changing.
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I was hoping you could enunciate what you are talking about, mr. stock teacher. Why must we keep our eye on the vix range? And what are the ramifications of it changing?
 
Look at that, the S&P is opening lower! Fading away from the massive resistance at 1150! Someone called 1150 massive resistance!

Quote from me on 1/16/04:

Quote from James Stock:

Lastly, I see 1148.1 as a key figure. Look for massive resistance around 1148-1150, and that's where the top is. That's the maximum.
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I don't think you can get more precise than that!

I wonder how those 1200 calls are doing!!:p
 
Quote from Nolan-Vinny-Sam:

By the way, this guy prides himself in his ability to call tops after only one down day of market activity. He also prides himself in limiting his risk when being "naked" calls on the S&P futures. In fact, during this month's option expiration he bragged about being short 1140 calls and watching them expire worthless. When I asked him how he would have managed is RISK had the S&P futures gapped-open thru the 1140 strike price the morning of expiration, he refrained from answering the question, and continued to do so without any explanation as to how he would have managed his position given the unlimited risk one has being naked and unhedged.
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Since I don't understand risk, should I give the 20K back to the cboe?
 
Tell us what you would have done had the S&P futures "gapped-up" thru the 1140 strike price and opened at 1144.

You obviously have no idea what you are doing since you have FAILED to answer this very important question regarding risk management.

Many people on this board have lost ALL respect for you since you have been unable to answer a very simple question.
 
Hope you covered your naked short call position this morning, James, before the market hands your ass to you on a platter.
 
Seriously, there can't be anyone short this market. It has had like 3 down days in the last 9 months. Is there anyone around here that is really short right now?
 
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