Only indexes which may not be that brilliant. But, I need a plan so I'll steal yours!. We shall see. I have a feeling there are going to be lots of surprises. It's never easy. I will reshort on Wednesday but I don't think I will be going long at any point in the near term future. I just can't trade that side!
Possibly, I'm just thinking when we do retrace, there very well could be more downside. But if we get a squeeze to 1135, that would be oh so beautiful 🙂
Futures are pointing down at moment. It want take long to get to 1080. What type of call spread would you do? I am just starting trading options. I am interested in the vertical spreads but am not comfortable enough to trade yet. Still have a lot to learn. So far only puts or call at or ITM.
Depends on what you trade? If you do options, then you're fine, as the theta burn could have hurt you anyway. If you do stocks, then you can go short again on Wednesday when Obama talks. I'd say that will be the top before a sell off to 1080.
At 1080 though, I'll be going long in a call spread as I expect a move up into the first week of February to last about a week. You did the right thing taking profit. Not much left on the tables if we fall to 1080 on Monday. Don't worry about it!
I see up 5-6 points, but it's delayed about 20 minutes. What's the futures at now?
Only indexes which may not be that brilliant. But, I need a plan so I'll steal yours!. We shall see. I have a feeling there are going to be lots of surprises. It's never easy. I will reshort on Wednesday but I don't think I will be going long at any point in the near term future. I just can't trade that side!
Very beautiful indeed!
Possibly, I'm just thinking when we do retrace, there very well could be more downside. But if we get a squeeze to 1135, that would be oh so beautiful 🙂
Futures are pointing down at moment. It want take long to get to 1080. What type of call spread would you do? I am just starting trading options. I am interested in the vertical spreads but am not comfortable enough to trade yet. Still have a lot to learn. So far only puts or call at or ITM.
Thanks mmTesla. I guess I stayed short so long that it's frustrating not to stay put now. But you are right.
I just don't see it happening this week. I see 1080 first, and then a run to 1130-1140… maybe?
Sit out and wait for a good entry, and don't worry if ya miss it, always more out there 🙂
Depends on what you trade? If you do options, then you're fine, as the theta burn could have hurt you anyway. If you do stocks, then you can go short again on Wednesday when Obama talks. I'd say that will be the top before a sell off to 1080.
At 1080 though, I'll be going long in a call spread as I expect a move up into the first week of February to last about a week. You did the right thing taking profit. Not much left on the tables if we fall to 1080 on Monday. Don't worry about it!
If we retrace to 1125 I think there will be a squeeze to 1132-1135, lots of resistance there among other things.