Market is churning...

Discussion in 'Trading' started by Trend Fader, Nov 14, 2005.

  1. Trend Fader,

    I think the market is also weak as well,

    but not weak enough :)

    piercing S&R's like what happened today means the battle is still on.

    I like to step aside and let the soliders beat themselves to death, then come on the field full of carcasses and get my goods :)
    #21     Nov 14, 2005
  2. Just read page 2 :D Safe move on the calls. I posted my GM January bear put spread on another thread earlier...

    Long 6jan20 @ $1.25
    Short 6jan17.5 @ $0.70

    Out of pocket: $55/contract
    #22     Nov 14, 2005
  3. I agree its very strong.. thats why I sold calls and didnt short the market..

    I picked up $1.25 in premium.. there was almost 40 cents in time value the next few days... as long as marke stays flat to lower.. i wll be making nearly 35-40% of the full potential ( assuming calls expire worthless)

    I think thats a good bet.. because I also long a bunch of stock to hedge the trade..

    #23     Nov 14, 2005

  4. Hold the indexes {at or near flat} while then "masking" your equities selling getting positioned for tomorrows PPI {look at all the sell-programs that hit today} --- just in case the news is rough after a 12 day run up!

    yes the institutions have this method mastered.
    #24     Nov 14, 2005
  5. Tuesday - PPI and Retail Sales

    Wednesday - CPI and EIA Petroleum Status

    Thursday - Housing Starts, Jobless numbers, Industrial Production and Philly Fed Survey.

    Friday - Options expiration

    :eek: I hope that's enough to get us rockin' and rollin' this week. I'm sick of this trading range crap. :D
    #25     Nov 14, 2005
  6. dac8555


    anyone have any opinions on housing starts?
    #26     Nov 14, 2005
  7. I am going to stick with my prediction of a high around 1245 on ES for the year but I thing we are due for a bit of a pull back to say 1228-9 or so before going higher. However it would be very scary to be short the broad market this time of year.
    #27     Nov 14, 2005
  8. Just covered 5 of the spy options at .75
    #28     Nov 15, 2005
  9. Still holding half position... net gain of 50 cents on them for 1 day hold so far.
    #29     Nov 15, 2005
  10. pullbacks are so 2000-2002

    this is the 'new' market.. no pullbacks are needed
    #30     Nov 15, 2005