What is wrong with this trend? We may not get another one like it for many years. Ride it until it bucks you off.
Thanks Piezoe, and I agree wise words indeed. I would just say that having an opinion and finding a place with defined risk to trade it is not the same as just having an opinion and trading it without any regard to market action,levels, risk, and money management. I trade my own money and the account that I do this type of speculation in is a small fraction of net worth so I can afford to take big risk for outsized returns, over the years it has worked enough that I still do it (though I am the first one to admit that I have been damn lucky on many many occassions). It looked like a possible triple top on the SP, decllining market internals and a slew of other data points that suggested that going short between 1420-1440 was not a bad trade. You win some and lose some, that's the nature of the beast. Good luck to you too.
i love bear markets and i love to short. that being said, this market wants to go up in daily, weekly and monthly timeframes right now. that is what im seeing. This could end any time obviously. all in my opinion of course.
I love to short too. . .the simple fact is that it may take months for a stock to move from point a to point b. Then it takes all but a matter of minutes for things to come crashing down. The best example is RACK where 6 months of gains were taken out in one half-hour after hours session not once, but twice in a year. I have a feeling that today's rally was due to the Fed, but it might be short term bull trap. . .
http://www.minyanville.com/articles/index.php?a=12066 A good article that supports the short term bullish view for the ES/YM given today's action.
well i think most e.t.r's know i'm still holding june 1375 spx puts. of course it wasn't smart i'm down 1k per contract, but at this point i'm staying . yes i have the rydex fund too.rytpx. going to hold on. good luck to you all. bgp