More than to know if SPX is going to exceed 1348 or not, it would be interesting to see HOW Pabst is trading his call(Position sizing, stop loss, martingale, etc..)
I'm happy to share. I sold 5 ES at 1331.00 on September 21st. (net) I was in and out a bit that week. I sold 5 more on 9/27 at 1347.25 Monday I sold 5 more at 1341 and covered that 5 lot at 1341.25 Yesterday I sold 5 more at 1339.00 leaving me short 15 lots. I then bought 5 lots on buys stops at 1341.00, 1341.50 and 1342.00, leaving me flat. I then sold 5 yesterday at 1345.50 and covered those this morning at 1348.50. My last trade is a 5 lot sale at 1349.00, leaving me with a position of -5 Riskarb has advised me to sell some 1280 puts for NovEx against my short futures. I'm more inclined to sell Octs since I think November is the month that will see the most damage. I doubt I'll add to my futures position in this area at this time. My saying I'm leaving ET if this call doesn't work out was less a "Waterloo" over the market than a statement about the stupidity of some members here. I get frustrated. Perhaps I should just ask Baron to ban me from the Politics and Religion thread...... 90% of ET'ers are good fella's but the anti-American's should be shot.
Those threads on Politics and Religion can be dangerous because they trigger a lot of emotions, mainly the ones you don' want, anger, frustration, hatred,... as they may influence, negatively, your thought process. and thus your trading.
If you remember, when we spoke it was Sunday night pre-open. They opened at 45.75. But YES you said I should leg in on the break and I got greedy......
Note to self: When Pabst makes another one of his quarterly apocalyptic calls....buy with both hands.
Romik - Simple....he is still swinging but he has not yet landed any punches. He hates some of the scum in the P & R threads....I agree!