I'm pretty confident that 1150 will hold for the next 3 weeks. Hence, this is why I sell Feb 1175 and 1200 calls without worry. The last part of your quote is right on. The best way to play the market is to concentrate on individual stocks, not the market as a whole.
If you're so sure of this, why don't you buy 10,000 S&P futures? Or better yet, tell us how you are going to capitalize on your "sure thing".
have you made any other good directional calls lately? you might be a really good trader , but I have seen others blow up trying to pick tops and bottoms here on elite yes ... I know you will not blow up bla bla bla ... good luck sir
decided to make your bet after the FED meeting and drop? gosh ... why did you not post this thread a week ago?
No, no. This thread was started before the Fed meeting. It was moved to chit chat, and this is a continuation of it. I believe I started the other thread on 1/15 and posted I was selling calls on 1/23. Of course there's always a chance things could blow up. But right now, i'm over 40 points from problems. And how many times has the S&P launched 40 points in a day?
What I really don't understand is why people get so emotional over James picking a top? By all means, post your analysis and opinion (trend is up, etc...), but why the attacks on the other thread? Is this place turning into a yahoo message board chalk full of blind zealots both bull and bear? Also if you are truely bullish and comfortable with your position, you should be doing everything to ENCOURAGE shorts to pick tops. I like it when people post their analysis, but all this "holier than thou are" crap because someone goes contra to the crowd drives me nuts. It makes me ashamed to be a trend-follower on occasion. I say post your analysis if you want, and trade em'. Who cares what someone else is doing. The people NOT comfortable with their positions are the people attacking James and others. Just my 1/50th. Goodluck,