I agree, but am still surprised we have not seen it yet. I have an open order for MAY 1235/1245 @.60. The Mid got to .65 this morning but then turned. Tomorrow is another day....
i guess you read my post before i deleted it, i thought it was the call side, i read it 1335 and not 1235 sorry
The reason I am in this thread is because I agree with you completely. My original reference to Mike was with regards to his SPX trades only and the fact that he does put some of them on (for certain months) seven to eight weeks early. I still watch the trades that he puts on because I've got a package subscription rate. If I drop his "letter", I don't save any money, so why drop it. But I haven't actually implemented one of his trades since July.
I just called ToS and they said there is trading of e-minis from 5:00 PM to 6:30 AM. It's basically 24 hours except for those two short periods near the end of the trading day.
I'm really beginning to wonder just how many times we can rally with the "almost done" story. Of course, they (and I'm not sure exactly who "they" are) have stepped it up -- now it's Yellin and Bernanke themselves who are selling the snake oil, direct to public...
Notice how each time we get less of an effect, pretty soon market wont care. I think the may meeting will be a key point in determing just how soon will that end come. Even if they stopped here, i just cant see this market going much higher.
Some SPX facts to consider Since reaching intraday low of 1168.20 on 10/13/05 and Intraday high of 1318.16 on 4/20/06 the SPX has advanced 149.96 points . SPX closed Positive for the last 6 settlements for the total gain of 136.97 points. Most of these points were gained on November/05 when the SPX gained 71.06 points for the month, and for the last 5 months SPX advanced for the total of 65.91 points. Labib Imtanes