s&p just made intermediate term top @ 1326.7

you really think the market gets hit during op ex??? I would think they would wait till the following week to crush it

 

Don't bet your whole stake on one trade,
not the way you want to proceed in the game my friend. You are a professional or aiming to be one, not a gambler.

Think of trades in 3 ways

1) trades that get stopped out
2) trades that go your way
3) trades that really go your way

If you get #3, its just part of the game, be happy. Its like hitting a homerun after hitting 30 singles. thats your reward for staying in the game.


None of the trades should be:
4) trades that take you out of the game.

Good luck on your trade.

 

Yes. That's one of the main reasons I think it will be hit this week. Hey, we've seen too many upside biases into an expiration week. It's time to average it out. Too many upside shenanigans on the options expiration price recently. For ex. I was short April 1320 calls, and the index closed at 1311 on thursday 4/20. I'm safe right? Wrong! The next day, though the highest it traded was 1317.7, they managed to "close" it @ 1320.7 robbing me of $.7 per contract.

Next week preceeds a long, patriotic holiday weekend. There is rarely a market bashing in the days leading up to a long weekend. And I hope that's the way it is this year, as i'm going to LV on 5/24 and do not trade while i'm away!!

 

Its better to burn out than to fade away..... besides, I'm confident that my frankenindicator wouldn't lie to me..... Its all down down DOWN..... (with a few tiny retraces to trick the young bulls.)

 

I agree lilduckling

 

You bears are smoking crack. I am long right now at 1291 and will sell at 1304 by Friday.

 

.... thats possible.... but just a speck though on things to come... overall its doward from here on end.... ES will not see 1315.

Also, im talking on bigger time frame then a day or 2.... talking several weeks.

 

I hope there are people of honor on this site, who will acknowledge the above quote made before the market traded this week.

 

what is that? about 40 pts my way since I made this call?

 

Good call, but don't brag too much (a little bit is OK).

I'm also making money on this move, though I'm making more on the declining 10-yr bond than on my S&P position.

As I've stated on other boards, I think this market is entirely liquidity driven. Everything (stocks, bonds, commodities, real estate) moved up together for years and now they are all going to decline.