Will the S&P go to 1000 or 1200 ?
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Ok then I guess your trade was risking your financial health to make a small profit. I stand corrected. Do that enough times your black swan day will come. You call that risk management; I call it a dumb trade.
The brutality of the thread starts with post #1, continues with your ridiculous attempt at chart reading, and about a half dozen claims that the market cannot possibly go any higher. You should be proud kiddo, its a work of art.
Nonesense, you obviously don't understand what happened. Your trade is basically the same as a horse better putting a huge dollar amount on a 1-9 favorite to win. It may pay some small return most times but in the long run its a losing strategy.
The fact that you don't understand its a losing strategy tells all of us how inexperienced you are. It is you who needs to learn eventually you will the hard way I guarantee it.
that horse better better know how to spell horse bettor dumbo.
your analogy could not be more wrong. Actually i'm not surprised how backwards you have it given your other posts on this thread. I never bet on anything odds on. I only made a "small" profit b/c I twice covered 1/3 of my position for over $1 to lighten up the risk. I did outline those trades. As the S&P rose I lightened up on my position as any prudent money manager would do. And by holding 1/3 that expired worthless, I showed that you can be 70+ points wrong on the S&P and still make a winning trade.
Actually it was a pretty good call, i dont like selling calls very often but he put himself in a good spot, and the market pissed around in the 1150 area of resistance he called long enough that it will most likely work out.
With all the talk about dollar weakness this morning the fact that we got a monster down day was a good sign that this move up is almost done, the only other earnings surprise we will inevitably see is aapl, then its lights out. Google has nowhere to go but down from this area, pretty good resistance around 590-600. This is a pretty good move on the ES to fade. I doubt we see 1000 but i doubt almost as strongly that we will see 1200 any time soon.
With all the talk about dollar weakness this morning the fact that we got a monster down day was a good sign that this move up is almost done, the only other earnings surprise we will inevitably see is aapl, then its lights out. Google has nowhere to go but down from this area, pretty good resistance around 590-600. This is a pretty good move on the ES to fade. I doubt we see 1000 but i doubt almost as strongly that we will see 1200 any time soon.