Where is this great correction.

I am itching to sell more puts and stuck on the sidelines waiting for the big correction?

Maybe we get some strike price effect action soon?


Still waiting. I hate having cash just sitting around being none productive.


Any folks here waiting to pounce and take advantage of strike price effects?

80% of my trading is in the last few days (thur,fri,mon)
pre/post exp days.

The rest I slack off mainly.

 

What do you mean by "strike price effects", King? Do you mean pinning.

 

Be patient my friend, it is lurking out in the hinterlands. And will become manifest in due time.

 

We just closed the gap today. I kinda expected that. Tomorrow will prolly bring a huge sell-off.

 

Yes.


I wish we get volatility levels like in the last few months of the year and the the levels during the first few months of 09. Those days were like printing dollars. So much low hanging fruit.

Takes more work now

Maybe we get a nice fall/winter gift of volatility again this year.

 

Where is this great correction.

It was September not October last year, that marked the downturn.

I the Monday after the Bear Stearns weekend follies was September 15 th to be exact.

Before Labor Day is a little early to be looking for what you are looking for.

 

Just have some patience, the correction will happen in due time, I still think the indexes are headed to fresh lows.

 

I also expect a significant correction between now and next Spring. I guess i be rather surprised if we revisited the Devil's low, but I would think anything down to 800 is perfectly reasonable. I am still biased long, but as i mentioned in some other thread, i have began to put on some short positions in the form of puts far out and deep. I won't be surprised if the current bear market rally takes us to 1050-1200. It could be driven up there by nothing more than squeezes on too eager shorts. But it would be surprising indeed to see it carry on much beyond that, as surely we will all become biased short if the market shows classic signs of becoming "toppy", or at the first sign of sustained weakness. I always discount expiration week antics.

 

So says the poster with nearly 9,000 posts that has been BEARISH for the last 350 points in the S&P and has seen his account of inverse bearish ETF's COMPLETELY WIPED OUT.

If anyone doesn't believe me, simply do a search on this guy's screen name . . . He's been a broken "clock" for 25 weeks now.

 

Patience = adding to losing short positions as indexes march higher?

Because the market "has got it wrong" and everything is a bubble?