You got it. The key was that the YM was all screwy and the NQ and ES were not percentage wise following the YM (by HUGE amounts.) But you had to understand rules, do quick calculations, be quick on you feet, and then take a (HUGE) risk. However Gordon, I cannot emphasize enough how dangerous this kind of play is. I wish I had options historical data to see what happened to the index futures options volatility. If they did not go thru the roof, IMHO, that may have been the venue of choice. Even there, you might have sold the in the money calls and bought out of the money calls (assuming the strikes were even avaliable - LOL...)There are a million ways to think about things, and a market that has been set up "correctly" always has a strategy that accomidates a particular event. nitro
You're right greenleaf. You know, I come here for educational reasons, but I wish there was some sort of option to rate people's posts, the way you can do at i.e. the Trade2Win boards in the UK. That way, we could distinguish valuable people from useless spammers straight away, and if everybody got deleted as soon as his 'rating' went below 50% or so, even better. That way, this board would become a great, clean source of knowledge written by true Elite Traders. It would prevent a lot of silly newbie questions, too and instead make them search for the info in i.e. older threads. It would also save this website boatloads of traffic, webspace and pains in the neck... Thus valuable time and money... It would be great if we could all advocate for such a change... Sincerely, ~The Scientist
You ask how you could have improved your timing. Stepping back and looking at the daily chart the opportunity was at both the high and low. See attached chart of ES with support and resistance for 070303.
man you get First Prize for arrogance .. :-( now go make me a pair of silly little earrings sweetie..
Sure, FasterPussycat. Here is a selected pair of my Egyptian Style "Anubis Earrings" in Sterling Silver. Great for your sexy girfriend! For you'll I'll do them for $3,250 only. FedEx priority shipping is included free! Feel free to PM me for further details... Sincerely, ~Scientist P.S: Anubis is the Egyptian "God of the Nether World" ...
Those ones are quite large, though... Since you were asking for 'little' ones - Please also have a look at these slightly smaller "Alien Girl" Earrings. You might not be able to see them in detail here, but note how well they go with a silver bracelet and a silver car (in case you have one) Again, feel free to contact me if you have a special request...