ES down to only 50,000 contracts still holding SHORT with Euro rally back towards 1.3400's and EU market strength last night.....cash session action today will be key out of open to watch for BUY or SELL program activity. Sold 2 "ES" so far this a.m. at 1233.25 with targets at 1228.25 / 1223.25 ......after a pretty slow day yesterday we should at least get some good action after the cash session open today (with opening inventory imbalance....inventory held that is underwater at the open). Holding some LONG Euro positions waiting for 1.3400 targets.....selling CL in the 90.39's/90.57's so far this a.m.
what does car mean? anyhow is this like selling a naked call on the SPY ETF? if that is, then he can lose unlimited which sounds bad since the market is gonna explode up today.
I put all my efforts into avoiding FUBARs. Curiously, if we split a sheet of paper into two columns headed ... ....things we know ... things we don't know then STOP placement would be one of the very first entries into the first column. Starting from the STOP placement and adding/subtracting the risk, we come to the entry point ... so now we have risk contained within acceptable limits after slippage. Heroes, I imagine are so self absorbed with the entry and the possible profit that they overlook the risk, which ironically is the one element over which they have reasonable control.
Another word for contract. Looks like the Santa Claus rally is coming early this year. I can hear Uncle Ben saying 'Ho Ho Ho' as he rallies the market..