The SPX has hit a cyclical top

Discussion in 'Trading' started by destriero, Sep 17, 2018.

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  1. southall

    southall

    Dont worry the OP said your short has impunity.
     
    #61     Sep 20, 2018
  2. volente_00

    volente_00


    I swear surf must have hacked his account.

    +39 of heat on this awesome top call
    :thumbsup:
     
    #62     Sep 20, 2018
  3. jasonc

    jasonc

    It is amazing though that we are approaching 10 years without a bear market in the USA, you could be mid 30's, 10 years in the market and incredible performance based purely on being biased long and a little leverage or tech. Working at a financial company this does make you question back tests and historical performance a lot more since these slight biases cause amazing looking performance.
     
    #63     Sep 20, 2018
  4. destriero

    destriero


    lol and you can't read.
     
    #64     Sep 20, 2018
  5. Banjo

    Banjo

    Only read ET sporadically but I believe the OP's thesis has 15 months to play out.
     
    #65     Sep 20, 2018
  6. destriero

    destriero

    I am in the process of buying the SPX dec18/mar19 2900P/3000P diagonals from $70 or better. I'll be back when I cover (or) the Dec18 short contracts go off the board:

    Long SPX March 15, 2019 3000 puts
    Short SPX December 21, 2018 2900 puts

    1:1 ratio

    volswap is 65bp

    I've bought some for work last week. I'm going to start buying in earnest next week.

    2018-09-20_0902.png

    They're marked $6,850 mid per contract as I type this (individual market(s) shown in above pic).

    The plan is to accumulate/DCA 100s of the diags for work, family and personal accounts. See you on the other side!
     
    Last edited: Sep 20, 2018
    #66     Sep 20, 2018
    FibonacciNinja likes this.
  7. destriero

    destriero

    And yes, the 2900/3000 diagonal is short 27 delta per contract. F y'all until I get back with a >40% gain.
     
    #67     Sep 20, 2018
  8. jasonc

    jasonc

    Damn had enjoyed your comments, hate to see you leave for good :D:D
     
    #68     Sep 20, 2018
  9. Buy1Sell2

    Buy1Sell2

    Certainly possible but I am staying long for now.
     
    #69     Sep 20, 2018
  10. volente_00

    volente_00

    Quite a long way?

    Market is up 1.8% in 3 trading days since this top was posted
     
    #70     Sep 20, 2018
    murray t turtle likes this.
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