I will most likely offset it on the next dip. I am not looking for a roll given all this strength. Might also leg into some long gamma combos at these levels.
Well..... good sign of a trend would be when a certain economic condition causes a rally and a reversal of that condition also causes a rally (or at least doesn't result in a drop). EXAMPLE: Plummetting oil prices ease inflation concerns causing this latest rally. Then, today OPEC announces the first official cut in output in quite a while, and the price of oil immediately rebounds. But the market doesn't drop. Why... because energy was going to be the only component posting losses for the quarter, and now they will likely post gains along with everyone else. IOW, bad news is good, and good news is great.
Finally!!!! Quote from TOS: "We have added a Scan Tab to let you search for stocks based on fundamentals, personal and/or sector watch lists, top tens and implied volatility. Coming next month we'll be adding chart recognition scans, option activity and historical implied volatility." After next month they will just about have everything I need/use. I was really looking forward to volatility charts and chart recognition scans.
You still hanging on or did you bail? Too bad oil is so unpredictable with all the geopolitical turmoil.
I'm still in although I was kicking myself for not getting out on the rally yesterday. I'm looking to jump out here soon on today's rally though.
I just got filled, lost $100 plus comm. so not to bad given the wild flucuations OIH has seen lately.
Wonder if you caught that dip? Finally, VIX has headed lower, within a hair's breadth of breaking into the 10s. Is this a sign that finally, folks are accepting this rally and getting on board with less fear? Are the shorts getting tired of being squeezed every 5 days as evidenced by the sharp rallies that ensue? Is this the final third of the rally where the "dumb money" pours in just a little too late? Is the DOW 12,000 magnet the necessary catalyst to suck in the "dumb money" over the next couple of weeks? These and hundreds of other critical trading questions are all answered over at www.momoneyscrystalball.com for a small monthly subscription fee of just $19.95! Get the trading edge you've always dreamed of - sign up today! Am I going to have to spam the SPX Credit Spread Trader thread again to get more people on here?
Question is, was that dip really worth catching? I'd hardly call that a dip if you know what I mean. In regards to your rhetoric above. I think it is mostly dumb money now as people try to catch a move that is mostly over. The problem is that at this time of year, there is a lot of dumb money to go around and we could very well continue the "dumb money rally" into the end of DEC. Some of us are feeling the squeeze, but it sure is nice to have a bunch of dry powder. This move is manageable still. Unlike Rally, I might still roll as it is getting pretty close to my roll point after today, but I probably won't roll up much (if at all) but instead just buy a little more time without changing the risk parameters of my current position.
I know, I was just teasing Though, there was a good probability that the opening gap yesterday was going to be faded which could have provided an opportunity for partial legging out of any spreads.