Yeah SC! Congrats! I had to bet the farm to get the farm back! I will be more conservative going forward. I know gambling is no way to win in the end. But I do think I prefer options to the ETFs so I appreciating you swaying me. If your timing is right with options, you can do really well but of course if your timing is wrong. . .
Kaching! Sold all my beloved stocks yesterday. Puts are paying off.
Red, we can quit McDick nightshift now.
Sundance, encore!! encore! keep'em ringing!
Monica, double congratulations! Salvation has arrived! Take the money and run. And please…. don't bet the farm again. (Yes you can thank me for talking you out of 3x inverse by leaving a big tips at the McD drivethrough window next time when you order. heheh)
Earl, keep raking it in going both ways with them 3x'es. HAHA, that sounds dirty.
That 115.00 is a critical level, and should be good for 1-2 days bounce… or more, if this is only a 6 Trading Day event sell off, as Sundancer mentioned.
After the bounce, we will have to see if more selling is coming, making it a 12 TD event, which is what I'm hoping for. Regardless, I'm going long at 115.00, as I don't want to be left out on a bear squeeze rally, if this is only a 6 TD event.
A hard rally into opx is possible, as you can clearly see by the chart I posted today, that there are way too many open interest contracts on the put side.
We just put in a bottoming tail candle on the 10 minute chart, so it's starting to look like this level might hold for the rest of the day. Of course there is more selling coming, but based on what time it is now, and the bottoming tail, and finally the fact that 117.50 is good support, I'd say the bottom is probably in for the day.
I'll look to get short again late today, or early tomorrow, after we work off some of the oversold conditions, as 115.00 is next up I believe.
I did earlier.
Close partial to recoup the capital and some gains. Put some profits in the bank. 🙂 Then you are just playing with the house's money.
Yeah SC! Congrats! I had to bet the farm to get the farm back! I will be more conservative going forward. I know gambling is no way to win in the end. But I do think I prefer options to the ETFs so I appreciating you swaying me. If your timing is right with options, you can do really well but of course if your timing is wrong. . .
There you are… late to the party as usual! LOL
Halloo everyone.
Kaching! Sold all my beloved stocks yesterday. Puts are paying off.
Red, we can quit McDick nightshift now.
Sundance, encore!! encore! keep'em ringing!
Monica, double congratulations! Salvation has arrived! Take the money and run. And please…. don't bet the farm again. (Yes you can thank me for talking you out of 3x inverse by leaving a big tips at the McD drivethrough window next time when you order. heheh)
Earl, keep raking it in going both ways with them 3x'es. HAHA, that sounds dirty.
That 115.00 is a critical level, and should be good for 1-2 days bounce… or more, if this is only a 6 Trading Day event sell off, as Sundancer mentioned.
After the bounce, we will have to see if more selling is coming, making it a 12 TD event, which is what I'm hoping for. Regardless, I'm going long at 115.00, as I don't want to be left out on a bear squeeze rally, if this is only a 6 TD event.
A hard rally into opx is possible, as you can clearly see by the chart I posted today, that there are way too many open interest contracts on the put side.
I think you are right but I am still holding my puts just in case. I'll ride the wave back up, short some more and then ride it back down.
Excellent Red! I think I will hold onto my 122s until (if) we hit that 115 but will short more if we get to SPX 1183.
OK Monica,
We just put in a bottoming tail candle on the 10 minute chart, so it's starting to look like this level might hold for the rest of the day. Of course there is more selling coming, but based on what time it is now, and the bottoming tail, and finally the fact that 117.50 is good support, I'd say the bottom is probably in for the day.
I'll look to get short again late today, or early tomorrow, after we work off some of the oversold conditions, as 115.00 is next up I believe.
I'm out for now. I'll wait for a bounce, but 115.00 is the next support.