Fairly nice statement by the bulls today. Without looking up the hard data, I can say from a glance that a gap up open tomorrow should be bullish for the day ahead. Would be very surprised to see further weekly range expansion either way though.
Five years of formal education and a minimum of three years work experience to become somewhat proficient is probably accurate for most professions requiring an education. And here - you have people guiding you both through school and work. There's always someone to ask. Trading is really no different. If you don't put in the time - you'll never earn a dime. Most retail traders face a huge disadvantage though as they usually are undercapitalized, have no professional guidance or are led astray by educators who usually ain't making $$$ themselves. 10 000 hours or more probably sums it up for any lone amateur trying to make it in this business. That's the harsh reality.
I have diddled with options some but I find futures fascinating. Engineering is boring compared to this. I have traded for years and the tuition has been not cheap but I have never blown up my account. I think I am at the threshold where my equity curve will exceed the learning curve.
on the 3 drives up today: SPY options expiring tomorrow. 1. 286 call traded 23 cents to 70 2. 287 strike - .23-.75 3. 288 strike - .20-.63 I like to pay .15-.30 - these seem to have most leverage / most volume.. Yesterdays selloff. 283 put (exp yesterday) - .18 - 3.50+
Speaking of options, I have read recently that for some reason, tomorrow is going to be a big day with some cra-cra on options balancing? So i.e., watch out for volatility? Can't remember the reasons for it.
The Banks today helped rescue the market. I'm not convinced about a bull market continuing. The ASX today is Friday, market opening in a couple of hours, usually Friday's sell off as the day progresses. Will maintain my short positions for the meantime, from what I observe from USA data there was no conviction in the rally. Probably some higher volatility ahead. BANK INDEX
+4 flipped long @44 Min target 48 Out + 1/2 point Currently stuck btw a 2/3 pts range. Let's see. Failure to break below 42 though.