The market is SO WRONG but wxy is SO RIGHT! You all blamed the fed for this "unrelenting" rally, and I told you all back in March, that this is just a C&H, and could go to $600-$640, and you all thought I was crazy...now the C&H has completed and we are likely headed into a correction you think its fed related again lol. All the talking heads are contorting their logic to explain the market sold off because of "this" or "that" even thought rates were dropped lol. THE NEWS HAS ZERO AFFECT ON PRICE! How many times do I have to tell you guys this before it sinks in??? Price dropped because it is due to correct...actually this is nothing...the correction could bring it sub $400. AND let's not forget that I am using a C&H to dumb it down for you punters...it is a crude substitute for EW. BEFORE: AFTER:
So tell us how much you made trading the S&P with that spectacular call. If I recall most of your calls are it could go up or it could go down or it might go sideways. Like your above statement Where is it going in the next 6 months? Personally I'm staying long as I haven't seen a trend line break on any of my positions.
Trendline? Lol...I haven't even looked at spy since posting in March...I just wanted to set you guys straight because the topic was such nonsense. The future? I would expect a correction incoming...look at typical c&h after they complete. I would need to see some certain levels break but not a trendline.
Trendlines work for me. It stops me from having a portfolio of stocks that are underwater. Yes I get whipsawed and yes I take a lot of small losses and no I don't have a lambo but I'd be willing to compare portfolio returns.
That sounds about right with a standard .50 retracement. Puts are expensive. Going to cost $4400 to buy 1 contract atm. If price hits 350 by expiry I'm showing a pnl of only $2560.