I have a mixture: some ETFS outright, June ETF calls, May puts on equities.
I'm thinking that the May puts may be clinkers. There will have to be a meaningful step down to convince the sheep that the worst is over; that's when I'll unload them, probably 1100. That will be a ****pile of profit.
I'm not convinced of the fake prints but I am willing to keep an open mind. They may/may not help because you never know what direction you are going in first.
Hi – both leveraged ETFs and options will kick your but if you don't get the timing right. I just find that with options, you have a chance at recouping your losses if there is time left. Earl of is the expert on the leveraged ETFs I still think both the leveraged ETFs and options are better vehicle for traders, not investors. I would be smart to just short the SPY but the ability to use leverage is unfortunately too alluring for me. The good thing about options is that your loss is limited to your investment (which can be smaller). The danger though is that you can lose all of your investment. I guess there is no right answer.
Tomorrow wont get me to even but I am confident that I am close. Monica caused me to research the viability of ETFs and PUTs.
NOW I AM NERVOUS! 🙂
Here is another comment that will make Mon laugh. I have totally disregarding the fake print premise and I have been tracking them before you changed format. Now I have lost count. However, I am subscribed to a free trial of a charting service that is used over at ETF corner. Yesterday was day one. I noticed spikes on the low time frame charts that were large. I made a note of the level as they were all close. Did not draw a line as I am learning the tool. Guess what? That is where the QQQQ's closed.
Having said that, while I was tracking the fake prints they were running 30/70 unfavorable. I am not passing judgement just reporting. I still have an open mind. I remember using quote tracker and they provided a mechanism for filter spikes which they called errors.
So I am not prepared to say either way but rest assured I will track them for the next 29 days!!!! 🙂
I really don't know what to expect for tomorrow, there isn't any room to move on the downside without setting off an avalanche
Time element: The longest counter-move of the current bull mkt. has been 27 CD. *IF* we are going to put in a July terminal high the low should come next week or very early the following. The two dates that I have sequences for are 5.18.2010 & 5.19.2010, which are 22 & 23 CD from 4.26.2010.
I have a mixture: some ETFS outright, June ETF calls, May puts on equities.
I'm thinking that the May puts may be clinkers. There will have to be a meaningful step down to convince the sheep that the worst is over; that's when I'll unload them, probably 1100. That will be a ****pile of profit.
I didn't realize that the FXE (euro) closed below it's support level of 125. This good be a huge wind to the downside in US equities I think.
$SPX 195 Min Setup:
Not Again?
http://www.flickr.com/photos/47091634@N04/46049…
I'm not convinced of the fake prints but I am willing to keep an open mind. They may/may not help because you never know what direction you are going in first.
Hi – both leveraged ETFs and options will kick your but if you don't get the timing right. I just find that with options, you have a chance at recouping your losses if there is time left. Earl of is the expert on the leveraged ETFs I still think both the leveraged ETFs and options are better vehicle for traders, not investors. I would be smart to just short the SPY but the ability to use leverage is unfortunately too alluring for me. The good thing about options is that your loss is limited to your investment (which can be smaller). The danger though is that you can lose all of your investment. I guess there is no right answer.
Tomorrow's supposed to be a turnaround day (new moon). I'm still in the hole, though, so there's no way I'm covering.
I was thinking along the lines of recouping my entire investment with first sale.
The moon thing is pretty reliable. The reversal might only last a day, but it does reverse.
Morning ought to be a POS for bulls. I think I'll buy more calls then.
That would be options expiration. Perhaps we bounce around here and then start the avalanche mid next week. Thanks so much for all your help.
Tomorrow wont get me to even but I am confident that I am close. Monica caused me to research the viability of ETFs and PUTs.
NOW I AM NERVOUS! 🙂
Here is another comment that will make Mon laugh. I have totally disregarding the fake print premise and I have been tracking them before you changed format. Now I have lost count. However, I am subscribed to a free trial of a charting service that is used over at ETF corner. Yesterday was day one. I noticed spikes on the low time frame charts that were large. I made a note of the level as they were all close. Did not draw a line as I am learning the tool. Guess what? That is where the QQQQ's closed.
Having said that, while I was tracking the fake prints they were running 30/70 unfavorable. I am not passing judgement just reporting. I still have an open mind. I remember using quote tracker and they provided a mechanism for filter spikes which they called errors.
So I am not prepared to say either way but rest assured I will track them for the next 29 days!!!! 🙂
Max contain on the 60 min kept suffocating $SPX until it collapsed under it's own weight
After $SPX broke red containment, it was lights out. The sharp reversal backtested red containment
http://www.flickr.com/photos/47091634@N04/46042…
I really don't know what to expect for tomorrow, there isn't any room to move on the downside without setting off an avalanche
Time element:
The longest counter-move of the current bull mkt. has been 27 CD.
*IF* we are going to put in a July terminal high the low should come next week or very early the following.
The two dates that I have sequences for are 5.18.2010 & 5.19.2010, which are 22 & 23 CD from 4.26.2010.
that makes sense…but I like monis answer better