Time to buy here

[Ghost of Cutten]

Big VIX spike up to 39, intraday puke after a major selloff, fear widespread and market overextended after 2 weeks of constant selling.

I would say a quick bounce back to 1250, maybe 1275, is a good play here. Another way to play it with less risk, is back up the truck on US Treasury put options.

 

[atticus]

1200 at the time this thread originated.

 

[rickf]

And it's 1200 still.

Oh, wait .... it was down to 1163 45 minutes ago.

 

[atticus]

Quote from rickf:

And it's 1200 still.

Oh, wait .... it was down to 1163 45 minutes ago.

lol yes, Cutten clown shoes usually comes out with a prediction after a huge hammer or reversal on the daily. He must be clairvoyant after the ECB screams bailout and the SPX rallies 37.

 

[Lojanica]

No he was too busy entering buy orders.........

 

[Ghost of Cutten]

Well, obviously I was totally wrong with this one, the S&P downgrade was one reason, but the market reaction this morning has been pretty bearish too - didn't fill the gap, and now moved below the opening lows. My stop is 1150 on the ES and I'll be out of my ES position if that gets hit.

 

[Tsing Tao]

It's cool, cutten. Hope you dont get stopped, but I have a feeling you might. Sorry, mate.

At least you can admit the error, even if the setup was nice. So many pikers on this site cannot.

 

[stock777]

what smells like a pile of dogcrap but isnt?

nitros model

ban that asshole

 

[atlTrader666]

Quote from Ghost of Cutten:

Well, obviously I was totally wrong with this one, the S&P downgrade was one reason, but the market reaction this morning has been pretty bearish too - didn't fill the gap, and now moved below the opening lows. My stop is 1150 on the ES and I'll be out of my ES position if that gets hit.

Stop at a very round number? We're a few handles away... Prop will rip through this round number to stop out people (go to like 1146) and bounce hard.. Who knows maybe we will hold but I don't like that round number

You're risking 50 pts to make 50 pts in a momentum downtrend?

 

[atticus]

Quote from Ghost of Cutten:

Well, obviously I was totally wrong with this one, the S&P downgrade was one reason, but the market reaction this morning has been pretty bearish too - didn't fill the gap, and now moved below the opening lows. My stop is 1150 on the ES and I'll be out of my ES position if that gets hit.

Only 50 handles. You'll get 'em next time.