Since we have the fantasy thread going here... I'll go ahead and take the 120 point gain and go short now. Stop at 3123.25 Edit: 3123.75
Strong Open. I'll also agree that we're likely to revert to Friday's Close by tomorrow's Open. If we open gap up at/above Friday's High on the RTH Open, I think we can have another solid up day. If opening flat - I think we'll see a sideways/down day capped by Friday's High. Initial hypothesis...
Sell any strength for now...but think about going long (later this week) and front running the FOMC minutes on 6/18. Then... when the FOMC minutes come out... sell that but prepare to buy back in, front running the G-20 meeting... until about 3 days prior... then sell that. This stuff is so easy. -Don't forget... Mark this post.
Sux you had to get stopped out at 2896 and absorb a 133 point loss. You never listen. I notice you blocked your user profile here now. Probably a good move. Anyway... 2888 might work, but we'll bounce up first tonight... before the gallows spring open. That almost goes without saying. The bounce that is. Are you sure you really trade B1?
He seems to have a pretty consistent modus operandi whereby his stops only are active during RTH. As he has been consistent on that for years, apparently, then I think we have to give him that assumption to be fair. Also, it is not a terribly uncommon practice to operate in such a way, I believe.
I am averaged into a short position to play a mean reversion to 2804-2814 The calls sold are a bearish bet as well No difference in making 3 shorts with 10 point stops or a 30 point stop on an averaged in one I don't see SPX closing much over 2900 before a reversion to 2804-2814 Maybe I am wrong Time will tell