Technically yes. Only because I thought the Sept options were toast. I will recover but I might just take off for a month as all the hard work just about went poof in this move. This is after I was saying I wouldn't take short setups because it just wasnt right when we were in a 'death spiral' I learned my lesson I'm going to take a trade if I see it. They screwed me, I gotta look out for myself and only myself.
Thanks. I had to buy some ES to cover in the premarket as I was going to get a margin call (on my trading account)
those who trade similar to my methods... today is shaping out once in a lifetime system day. easy 50 points on that roundturn. watch other sectors get demolished in the sp500...as a proxy for financials. when the rules of the game change, there are other ways to get around the rules.
Look at it this way jagmot, we still have 3 months before the year is over. I'm sure you can recover most by year end.
Please answer my poll in the index futures section. Basically, I am curious as to how e-mini stock index future traders did this week. Volatility is a double-edged sword: hope you were on the right side of the blade!
it will be interesting to see how this plays out. tripple witching. government manipulation. cant short the market. Only longs can win today. Wow. If my longs don't lose I can thank the good ol govt.
If some big funds / individual traders / sell side firms are under margin on their short holdings and are liquidating, where would the indices go? DOWN. Because they have to sell their long positions too.