Today we completed the first 50 pt. slip zone that I detailed on Tuesday night.
I posted a chart earlier in the day showing you the twin containment in this region. The first bounce today came off the containment pt. that held the $SPX during 5.6.2010 low & the second bounce came off light purple containment.
I posted this earlier in the day The precise low of the 5.6.2010 came from light blue containment so should that break another 50 pt. slip zone down to burgundy containment which held the $SPX during 2.5.2010 low.
Best you could hope for is a $SPX reaction to 1095 area
Well we got our reaction off the twin containment pts. & our reaction high in the $SPX was 1095.09 The close today was real interesting because the last 3 minute surge means the $SPX closed below both containment pts. http://www.flickr.com/photos/47091634@N04/46246…
Since my puts are May, if we don't get down there, they will just be exercised and the Ameritrade will be pissed at me for making them do it. I will monitor it tomorrow, and as long as they don't go down, I will be able to close them out myself at 980-990, should it look like that is the bottom.
Yes I agree, the one thing I've learned is to never underestimate or overestimate the market. Because it can exceed your expectations to the upside and downside.
EVERYONE SET YOUR TRIGGERS!!!!!!!!!!!! I got locked out of Ameritrade for 1 hour and it could be worse tomorrow. Trade triggers may not provide for the best execution but it doesn't matter! Last time I tried to buy at the bottom and the market moved so fast, it was very difficult.
Red – I don't know about 875 tomorrow but that would be cool! Anyway, the majority of my purchases will be made around 994 and 967 and if I have to ride a wave down then so be it. No leverage for me unless we get to 875.
Bigbad – I hate to give advice because I have no idea what I am doing. But, I have trade triggers to sell my puts at SPX 998 and trade triggers to buy about 50-60%% of my capital at SPX 994. (I am somewhat concerned that the sell orders won't trigger in time for the capital to be applied to the buy orders). I have orders for a spattering of diversified stocks, single etfs (a lot of commodity stocks, some biotech, etc.). Then, I will buy another 30-40% IF we get to 967. If we get to 875 (that's a big if), then I will take the final 10% and will buy leveraged instruments like calls.
It was a Good Call, and Red is catching up fast too.
Amazing. My jaw is still on the ground!
Today we completed the first 50 pt. slip zone that I detailed on Tuesday night.
I posted a chart earlier in the day showing you the twin containment in this region. The first bounce today came off the containment pt. that held the $SPX during 5.6.2010 low & the second bounce came off light purple containment.
I posted this earlier in the day
The precise low of the 5.6.2010 came from light blue containment so should that break another 50 pt. slip zone down to burgundy containment which held the $SPX during 2.5.2010 low.
Best you could hope for is a $SPX reaction to 1095 area
Well we got our reaction off the twin containment pts. & our reaction high in the $SPX was 1095.09
The close today was real interesting because the last 3 minute surge means the $SPX closed below both containment pts.
http://www.flickr.com/photos/47091634@N04/46246…
The open tomorrow will be interesting.
Have a good night!!!!!!!!
Were you trading during the crash of 08 I remember the spreads were unreal.
Since my puts are May, if we don't get down there, they will just be exercised and the Ameritrade will be pissed at me for making them do it. I will monitor it tomorrow, and as long as they don't go down, I will be able to close them out myself at 980-990, should it look like that is the bottom.
Yes I agree, the one thing I've learned is to never underestimate or overestimate the market. Because it can exceed your expectations to the upside and downside.
EVERYONE SET YOUR TRIGGERS!!!!!!!!!!!! I got locked out of Ameritrade for 1 hour and it could be worse tomorrow. Trade triggers may not provide for the best execution but it doesn't matter! Last time I tried to buy at the bottom and the market moved so fast, it was very difficult.
Red – I don't know about 875 tomorrow but that would be cool! Anyway, the majority of my purchases will be made around 994 and 967 and if I have to ride a wave down then so be it. No leverage for me unless we get to 875.
Monica, you are so right about the triggers. I was just following the action using a sell order and got frozen out.
Hate the idea of triggers but they seem to be necessary.
Bigbad – I hate to give advice because I have no idea what I am doing. But, I have trade triggers to sell my puts at SPX 998 and trade triggers to buy about 50-60%% of my capital at SPX 994. (I am somewhat concerned that the sell orders won't trigger in time for the capital to be applied to the buy orders). I have orders for a spattering of diversified stocks, single etfs (a lot of commodity stocks, some biotech, etc.). Then, I will buy another 30-40% IF we get to 967. If we get to 875 (that's a big if), then I will take the final 10% and will buy leveraged instruments like calls.