LOVE Traders Joe's..but we don't have one out here..last time in Palm Desert brought back 8 cases of 2 buck chuck! At costco I've learned to buy and freeze the meat's and buy only dry goods that can be stored...the fresh stuff usually gets tossed because you are right about the temptation to buy toooooo much
All, Just wondering where you have you Fib lines drawn at this time... I have the highs from 9/9 and the recent lows from 10/13. Sound about right ? Thx.
Coach, As of Monday morning, how do you feel about chances of the pullback you were expecting. I did a 1230/1235 Put Spread but unfortunately am also setting on 1235/1245 Bear Call Spread---I wasn't watching and did not make adjustment or hedge. Any suggestions, short of jumping out the window of tall building Jack
Dec OEX 585/595 Bear Call Spread with 100 contracts. How would anyone hedge this position if market keeps climbing? Does anyone follow MACD in this forum?
I still feel the pullback is developing but we do have some economic news on Tuesday (PPI) and Wal-mart announcing which could throw a wrench in the works. I only made a small bet with my 1230/1225 debit spread but still see significant overhead resistance as of right now. The S&P and the ES and ER2 all bounced off of overhead resistance lines and are slightly down. Looking for a bigger move lower to perhaps 1225-ish on the S&P as long as no new good news shoots it higher. I believe it to be more likely than not and threfore did a debit spread but I would not bank a large credit spread position on it. As for a 1235/1245 bear call spread I think you are well within the adjust or get out zone with the S&P at 1232.
Drawing Fib lines are of course subjective but I drew the tratecement lines from the early AUgust highs to the mid-October lows. That puts the current market at the 66% retracement.