It remains to be seen, but the way the price action is going today, unless there is decent volume today with another gain for the SPX, wait until EOD tomorrow to do the same play as stated above. Let's reconvene at 2:30 CST
Not as bold as your posted prediction in fall 2011 that the SPX would go to 900. Seeing it at 1632 means you missed by about as wide a margin as practically possible on the entire index. It would be a serious challenge for anyone to make a bigger mistake at any point. Oh, and you posted aggressive shorts on that call and ADDED to them repeatably while you lost your theoretical shirt. I say theoretical because its very obvious you don't trade any of these predictions.
Kudos to MMs standing toe to toe with these buyers the whole way up. They are getting Chinese water tortured to death. Can you imagine standing toe to toe into known inflows and asset reallocation? People that tell me that these guys cheat and don't fulfill their obligation to make markets as a last resort, uh, you stand in front of this stuff. That said, when this stops somewhere north of SPX 1800, those guys are going to be rolling in cash. best of luck, Arbs...
So, you are now short 1@1572, 1@1567, 2@1629, and 1@1642. Right? S&P is at 1650 at the moment, which means that you are 211 points in the red. Do you have a stop in mind?
Europe [Germany and France and Spain] in recession http://www.bloomberg.com/news/2013-...on-deepens-as-contraction-exceeds-estima.html It won't take long for EURO/USD to go to 1.20. In fact, there is now an all out currency war going on against a weakning US $. Bonds [yields] are about to explode higher. Stocks about to implode.
Here's what I think: It won't take long for EURO/USD to go to 1.36. In fact, there is now an all out currency war going on in the direction of a weakening US $. Bonds [yields] are nominally in line. Stocks continue to explode.