It looks like the SPX might work its way down to its 200 day EMA which is also the 40 EMA on the weekly. We are due for a mid point consolidation here and then a measured move down to the 200 MA. This of course is in a perfect world. Then the S&P should work its way up but not exceed 1040. Then work its way down to 900ish (being vague here). Before turning up and making new highs later this year or next. I don't think we will make new lows for the following reason (observe chart)> http://bigcharts.marketwatch.com/intchart/frames/frames.asp?symb=spx&time=&freq= Disclaimer: the market will go wherever it wants and I shall be hot on its tail tacking left,right,up,down whenever necessary.
Romeo has said he shorts options a month or less out so he is interested in near term tops. His call that you reference was right on for his timeframe.
Maybe under T-Rex's sliding scale logic that makes sense. But some of us will not be told that day is night. I will be watching Romeo like a hawk! Be afraid, be very afraid!
you have to understand that Romeo's trades are high probability low profit trades (at least when he is selling out of the money calls, not sure of the thinking behind selling deep in the money puts). So he can call a short term top like he has been doing and as long as it holds for the few weeks before his options expire he is golden. Nothing illogical about it.
This is about Romeo's market calls (more so about his insufferable, inflated, needy, ego). All I am saying is that if he tries to pull another fast one on this forum - I will be all over Romeo like a bum on a baloney sandwich!
What was the first fast one einstein? You have to be a total moron, are you walters brother? You're saying that when I called the top at 1032 I was wrong? geez! What did I have to do, hit it right on the nose, and get $100 from the price is right? ps thanks mvic for sticking up for me.
Never would sell a deep in the money put. I would sell out of the money puts, though. And I haven't sold puts in months anyway. The last time I sold puts was when I started the "dow looks good to 9000" thread.
For a normal person, I would not say anything because we are all just "guessing" at the future. My prediction back in July was "1050-ish" for a medium term top. But, for people who shout from the roof tops about how right they are and how they are the "greatest of all time", I exact a higher standard. Unfortunately, Romeo you have fallen short. You are not bad, but you are certainly not the greatest of all time. Good luck, good trading, have a nice week end. *Romeo Watch - is a service provided to the ET community at no cost. Our motto: veritas accuratio humilis
I'm shaking! Especially from a guy who backs down like a mouse when asked about "the fast one" you were referring to. Can you say, "credibility problem"? If your so capable, tell us about the first fast one I pulled. Don't just say something, and not back it up. That puts you in the scummy gutter, right next to your bro walter.