ES will drop 200 pts

the ES will drop 200 pts either this Month or next Month ! today day is 4/19/2016 ES is 2090.50

 

ES will exceed 2100 before any decline approaches 200 pts.

ES is 2089.

 

Only time it will fall is if the FED wants it to fall.

 

So you are short ES contracts? What have you done to play this? What percentage of your account are you willing to lose if you are wrong?

 

I'm short about 300k S&P 500 index ETF. Not margined or leveraged.

I can take 50 percent hit and not worry.

 

Interesting. Is that paired with any longs or are you just betting down?

 

Nah,.. It's more out of what I see happening in the real world. Most everything is cash. And money markets I worry about also. But then again it's all digital. When you truly need it, won't be able to get at it.

I'm finding I'm long tangible value assets, food production, clean water, and good people. Those are more valuable than the farce that's happening in our economic landscape. Most free cash flow will go towards accumulation of precious metals.

 

I would consider:

• SPY at $209.90.
• SPY target by May 31, 2016 minus 10% = $190.00.
  
• Buy 50 contracts June 17, 2016 200.00 Puts at $1.96.
• Debit $10,000.
• Expected reward $50,000 (P/L plus $40,000).

 

I'm a scalper so I trade my account everyday min by min, have been doing it for over 15 years fulltime. I was a day trader when most traders didn't even know what a day trader was.

 

If your experience is in scalping, do you take positions base on long term outlook/system?

Did you start when the tech bubble was bursting? That was a fun time as I remember. Day trading the S&P500 in the 80s was better but I was a newb back then and steadily lost, but back then a huge day was four points. Now most whine when it is six point range. I actually got better first in Long term trading Commodities then day trading futures, but started in stocks 1978, so much different between stocks and futures in chart patterns and fear. Maybe I started trading when you were wearing thigh high elastic pants that were changed seven times a day?
LOL- scalpers have weird sense of humor... LOL Good to meet cha.

Long Term I am short Indexes from last year and near Quad lows I hedged my short open profits starting with Debit Call spreads, eventually lifting the short side and just doing long calls on monthlies. I took first target profits on half position and will keep other half till they hit better than breakeven stops then start all over again of finding the top.