I would close your position if there's a pullback tomorrow. I'm almost certain the market is going to use this rally to go ahead and touch some of the points for max pain for options expiration. 105.00 & 110.00 right now are those points for SPY. After that, look out below. It'll be a wild week next week I'm thinking.
Stock, one quick question. If these huge funds are run by such smart people, why do they always fail in any time period used, to beat the s&p?
I don't think hedge funds fail to be the S&P at all. It's the mutual funds that fail to beat it. Hedge funds do quite well. If not they wouldn't exit, the hedge fund clients are millionaires and they're not dumb (like the mutual fund clients).
i was expecting a volatile day to-day, but was asounded by the bounce/reversal... i agree with susanah that it may have something to do with options expiration, and we did have 2 days of vicious selling...don't see the bottom, yet....think this is a bear trap
And the sky is NOT blue! And the grass is NOT green! That shirt is NOTTT Black! (borat) And your account is NOT blown! Keep living in that fantasy world of yours, Turd3r. You must be the lovechild of Abby Joseph Cohen and Larry Kudlow. Once again, Turd3r couldn't get returns out of a fucking boomerang.
I should disclose that : 1. I have a (reasonably) tight stop (3% which is tight in this security) in this trade, which is only on for a small amount in the account I am trading it in and expect to close it out at a 1.5x risk ratio. 2. Looked at this as window dressing in front of G20. More interested in XAU in light of this event. 3. Long ES calls at 1075 in Z (significantly underwater, 'tis true) from my failed obamanation trade (rhymes with abomination), but at least got out of the other half of the call spread nicely. If we rally supremely, I'll be taken care of well here. And yes, I will close that out QUICKLY and reverse. And well intentioned advice is never taken as an affront, even if I don't necessarily agree. You pays your money, and you takes your chances, 'natch? After all, its only money!