Kudos to MMs

Calibrated FV, 784.37. FV, 1015.25. Mid, 899.81.

 

Some will go short again at 1100 ish SPX. Imo wrong to go short there, at least for the gains that I go for now.

Resistance, 1120 SPX.

 

nice trade anyhoo... any thoughts on equity risk premium model I find this pretty interesting.

http://www.phoenixhecht.com/treasuryresources/PDF/Equity_Risk_Premium.pdf

 

I find Equity Risk Premium and anything that is part of CAPM and many of its descendants extremely useful, but more on individual stock valuation models.

 

where is "Fade FV" crowd

 

Those that are calling this a short covering rally, it is no such thing. It can only be that if it falls outside the preview of implied SPX moves from VIX. This doesn't scare true shorts even an iota.

If this closed at 1142, THAT would be a short covering rally.

 

They'll be back the absolute minute there is a drawdown.

 

Normally it would be correct to sell 1120 SPX. But I think we have at least one more day of bounces left. Patience, the big short is not going anywhere.

Next resistance is 1142 ish SPX.

 

yeah, they are more predictable than FV

 

...still