Indeed I am 50+ ES handles buried on a short, but it is a hedge, and even if it were not, I can't bring myself to being too concerned (not really using leverage or anything) given what I perceive as an upside limited market w/ plenty of downside risk. Also consider for multi day swing trade that as of recently 50 handles is just not a huge move. I do also have an outright short in SPY, but it is not with size; again not concerned. Excellent & eloquent post
hoping for 2100 on es today. i see no reason as to why not, sentiment is good, reduction in uncertainty re interest rates, stocks reasonably priced, market shrugs off terrorist attacks. Technically, on a strict interpretation, we are still in a bear trend, but i am inclined to weight that much lower due to positive fundamental and tone of markets as discussed.
the run up from 2000 setting up to be another amazing display of buying power. Any dips at all get bought very heavily. I would not fight this trend but rather go up with it
looking at weekly chart...if es can break 98 and close above it, bears are in serious trouble. i would expect record highs next week.
Of course record highs are coming....they should be here before December 1st comes....like I said weeks ago historical highs are like a magnet. It's going to happen no matter what....
But on a side note there is absolutely ZERO leadership.... If this doesn't put you in aweeeeee you have no clue what's coming next.... Over 475 Nasdaq points have been added to the index because of one 2 stocks... Amazon and Google Without those 2 stocks the Nasdaq would be deep in the red.....so if just 2% of Nasdaq 100 stocks has participated in this 2015 475 point rally for the Nasdaq there are major problems that lie ahead for this market...anyone who thinks a market can keep going on zero leadership is a fool... Think about that 2 stocks have led the 475 point rally in the Nasdaq....fools game is all this market is... http://www.cnbc.com/2015/11/19/nasdaq-100-rally-can-be-credited-to-just-two-stocks.html
bot some dec dollar futures at 9956, stop 50 ticks. dollar is the place to be with all this terrorist activity going on plus it's in a fairly strong uptrend to boot! what more can u ask for?