Thursday's Down Is About To Start-- Check it now!

S2007S · Mar 12, 2008

Quote from riskfreetrading:

You are right my friend. Proshares version. Move movement.
I trade options on IWM, that is why I play IWM. I will check if there is an option chain on UWM. Thanks for the info.
Do you play options on UWM?

dont play options on UWM, trade it all the time though, waiting for 42-44 range to get long, also own UVT. Huge spread on UVT though.

riskfreetrading · Mar 12, 2008

Quote from S2007S:

dont play options on UWM, trade it all the time though, waiting for 42-44 range to get long, also own UVT. Huge spread on UVT though.

Thanks for the info. I checked UWM option chain. They have one, but spreads are large. I will think of a way to play it. I think that you posted that info in the thread of two days ago (Monday). In that thread there was also plenty of short bag holders who asked why anyone would go long. I told one of them that because the reward does not warrants the risk, and also because of gaps. I never heard from that crowd the next day (Yesterday).

The market is in the hand of buyers now, but I am also looking for a pullback to go long. I sold all my long IWM position at the close yesterday.

I do not like being long on Thursday, so I will not buy until thursday passes.

riskfreetrading · Mar 12, 2008

Quote from Longhorns:

I'm a bag holder because I made fun of your need to pat yourself on the back for a .004% move on an ETF?

You should start a journal to keep track of all your great calls. That way ET knows exactly where to look when you decide to graciously give us all your awesome winnings trades.

At 1.45Pm the market is down $0.40 from the time you posted your comment. I take it that you and your followers hate $0.40 gains, but love $-0.40 losses. Anything I write and made as calls in this are posted live, and anyone can check them by going to my history. So far all of them have been right! The tick is always with the people who are right. Only the tick is my judge--- a judge that never fails to deliver sentences paid from the pockets of the other side.

Longhorns · Mar 12, 2008

Quote from riskfreetrading:

At 1.45Pm the market is down $0.40 from the time you posted your comment. I take it that you and your followers hate $0.40 gains, but love $-0.40 losses. Anything I write and made as calls in this are posted live, and anyone can check them by going to my history. So far all of them have been right! The tick is always with the people who are right. Only the tick is my judge--- a judge that never fails to deliver sentences paid from the pockets of the other side.

Congratulations...now start a journal.

riskfreetrading · Mar 12, 2008

Quote from dipper17:

Longhorn, great post but it wont happen. He is here for ego reasons only and there is no back patting to be had on the market calls that dont work out.

Ask him where his "risk free trading strategy" is. According to his own words he only takes risk for sport.

Nuf said!

The guy/gal who posted the above have no shame and just a joulous or other things. The readers will judge that person. He made many similar comments to the above, and have been always wrong with the facts that emerged later. Anyone can read my market calls (they are in the history and called in advance and live) (the market has been down since he made his post and at the time am writing this with $0.50 gains on IWM).

In addition, this same person said there was no trades with a guarantee of no capital losses. Go to this thread to read him (and my posts)

http://www.elitetrader.com/vb/newreply.php?s=&action=newreply&postid=1816807

Here is his post:

Quote from dipper17:

I think most of all he likes to dangle phrases about no risk, like the one you picked up on, as if he holds the magic key to o risk and you should be in awe. Itâs all quite amusing for the readers.

Here is the punch delivered to his nose (note that no one bother to even answer him/her because they know that what s/he wrote was wrong).

Quote from donnap:

I am not disputing this. I am attempting to illustrate a position that fits RFT's description.

Please keep in mind that there is a difference between risk free and risk free of loss. There is also a difference between theory and reality. Reality involves comms, slippage, trading experience and skill, etc.

A conversion is a risk free position - except pin risk.

Collars with offset strikes; the call having the higher strike, may be constructed to benefit from a rise in the underlying and have no risk of loss. But there's still risk - the cost of capital. These are equivalent to bull put spreads and a risk free interest earning investment (principal equal to value of the strike of the long put).

Interest rates are so low it's not easy to find a good, clear example without going out in time. Look at GOOG Jan '09 options. Selling the 480C and buying the 460P can be done for a small debit, say 2 pts at fair prices. The investment would be nearly 46K per collar for about 10 moths.

With GOOG at 457ish there's no risk of losing money and you make about 20 pts.if GOOG ends over 480. I know, big deal, but interest rates are very low. Under 460 you get nothing for your investment.

riskfreetrading · Mar 12, 2008

Quote from Longhorns:

Congratulations...now start a journal.

It is ok LH. But now I am starting to worry, because when people see that it is going down, it may actually do the opposite. I will go check the charts (but may not post again).

Mike Okistini · Mar 12, 2008

riskfreetrading · Mar 12, 2008

Quote from riskfreetrading:

It is ok LH. But now I am starting to worry, because when people see that it is going down, it may actually do the opposite. I will go check the charts (but may not post again).

LongHorns. Thank you. Afterr reading your last post, checked the charts, bought IWM at 67.29. Just off loaded for $0.19 gain at $67.49. You still have ($0.30+$0.55-$0.19) to pay back!

PS: I might go short if it goes back to $68.00 area today.

dipper17 · Mar 12, 2008

Quote from riskfreetrading:

The guy/gal who posted the above have no shame and just a joulous or other things.

In addition, this same person said there was no trades with a guarantee of no capital losses. Go to this thread to read him (and my posts)

Here is the punch delivered to his nose (note that no one bother to even answer him/her because they know that what s/he wrote was wrong).

Not quite sure how anyone could be jealous of any anonymous poster on a message board but if it makes you feel better to post that then so be it.

I donât recall saying that there are no trades with a guarantee of no capital loss, unless that was taken out of context. There are plenty of trades which offer no chance of initial capital loss, they donât return much but you can buy treasuries anytime you like for example.

Although the portrait you draw up of a punch in the nose is cute, in reality itâs not happened. Return above the risk free level all has the appropriate amount of risk associated with it.

As far as your market calls go, I am sure some of them work out well. The point being made by Longhorn and agreed upon by me the only real picture of ones true ability to call markets is a full disclosure in very close to real time. A mere list of winning calls is not all that impressive.

Have a nice day!

frank grimes · Mar 12, 2008

the fed comes in with a hot beef injection which in turn starts a furious short covering rally (bear market variety). Now we have all the joe six packs posting at a furious rate at how smart they were to keep their 3 shares of GOOG (bought at 650+) and not sell when it went down 20% right after they bot it. Next week when the rally fails this place will become more pleasant, but enjoy the bounce children!