TZA closed way over $10. Shares will be called away. Total profit of $2200 in less than 2 weeks. Money Put down was about 84K. Profit %2.6.
Didn't make any NQ/ES/TF/whatever plays today, just let them do their thing pretty much. Hoping for a bit more decline though to squeeze out more premium from these Aug 108 QQQ calls I sold before Nasdaq went parabolic (hedging underlying saved the day). I did get a pretty nice long entry in GC at 1083 immediately following NFP on a resting order I placed some hours previously before bed. Also long Euro/6E and long EUR/GBP. I found it interesting how DX cranked up and then an hour or so later cranked right back down - almost as if people came back to their senses like "Regardless of what NFP/UE numbers say, they're not gonna raise rates." I've heard other people mention a Sep/Dec rate increase being priced into the market already. Personally I think that's a load of BS, and if anything the market is attempting to call the Fed's bluff. What's everyone else think?
IMO party is over to a degree, meaning INDU is signalling a correction, but I don't think it will be anywhere as chaotic as back in .com and credit crunch ones, a controlled correction to offer a further deep discount for investors into equity market. Of course I may be wrong it could well be a rather 'scary' slide, but with FED and other central banks keeping their fingers on 'The Button' it will be likely just another buying opportunity to take markets to new highs.
Not Ben Affleck, but PTK from TST.. It's just a tour, but some funny stuff in there about getting stuck with a 300 lot, SP/ES arb plays, SPX at 1785 in that video..
Great clip, really wish i would have gotten a chance to see the floor in its heyday before it died. Even though i work from home now, i really miss the camraderie of working at a prop office. At the office i started at we had figured out an arb opportunity where a dozen traders in our office were making 10k+ each on any given day for a few months with very few down days. There was nothing better than the feeling we all had when we were a bunch of young punks, and we all went to the bar together after making enough money to buy a new car, and we knew the same thing was going to happen tomorrow. Obviously after a few months that ran out. Wish i would have respected it more. I had my best day ever last year, trading from home, and at the end of the day while i was happy, it was pretty hard to celebrate that cause no one i know could even relate, and most of them would have thought i was an asshole if i told them i made more than their salary last year in half a day. Nothing is funner than being in a group of people where every one is making bank, it makes you all feel like gods. Loved the comments on the O'Hair spread, i thought about doing it at a firm that was giving me massive leverage, and wasnt paying me. I figured if my money is gone anyways may as well buy a lottery ticket, but i didnt have the balls to do it...... Try buying, or shorting something like AQXP on friday with a couple million bucks on leverage, and if it pay off, your rich, if not your moneys gone anyways, lol
Yeah i agree with that thought process, there usually has to be a catalyst for a deep bear market, and i dont see it right now. While i dont see a reason for a significant pullback, i also dont see any reason to buy at these levels. Quite frankly the best thing we could have is a 10% pullback just to get the market out of this chop so it can start going up again.
ES opens at 2074.00, we all know by the time the East coats is waking up the futures will be bright green. Right now up 1.00.....FUTURES RISE OVER NIGHT 90% OF THE TIME.