Yeah, still sitting on profits from the elections drop. I was going to wait until the drop got started to go heavy. Profit margin is smaller with spreads, but it would save me in situations like today, where I was short and we kept going up…. Had a feeling we were though. I doubt if we get much higher then the close though, but anything’s possible
This is a one day pop if my target dates are correct. Gives us enough firepower to get there.
A certain little component of a certain little indicator has once again popped to the 0 line area.
The Vix interestingly has dropped to and below its lower BB which seems to always produce a bounce back and above the lower BB almost immediately. And the structure of the BB setup is not a bearish (for the $vix) setup. The lower BB is flat as is the entire BB channel. The lower BB is not flaring open with a downtrending 20day average.
It looks like the euro has already given up its gains for the day in the globex session on the France downgrade.
Apple and the Nasdaq needed a pop. Their daily RSIs were too low but they have now alleviated that condition just as a one day pop did so so many years ago as well before the market went into SKYFALL mode.
The Transports are actually following that fractal with amazing precision.
Yeah, getting that feeling as well…. It really is what they always do… Rallying up in hopes of something, only for it not to happen, or be even close to what was expected. That reference gave good examples. August 2011 was a perfect one
yeah. Think I’m happy I stopped out then, even though at a bigger loss than usual, but that makes me think we will have that “santa clause rally”. I’ll st on the side until it either gets too high to make another short tempting, or other FPs show themselves
You need to learn to do spreads Anthony, just for this very reason. Time decay on your options won’t affect you as much then. As long as we are below the strike price by November 30th we’ll make a profit.
I have a 135/132 put spread, where I bought the 135 and sold the 132. As long as it closes below 135 by the 30th I’ll profit. The same can happen for you but not if you bought the 132’s, as that’s the downside target area.
You need to sell the one where you think it’s going to and buy a higher priced one so you’ll be “in the money” when it hit. The time decay on the 132 will then work in your favor, not against you as it is now.
ES Chart analysis: http://niftychartsandpatterns.blogspot.in/2012/11/es-chart-analysis_20.html
Yeah, still sitting on profits from the elections drop. I was going to wait until the drop got started to go heavy. Profit margin is smaller with spreads, but it would save me in situations like today, where I was short and we kept going up…. Had a feeling we were though. I doubt if we get much higher then the close though, but anything’s possible
Dow Jones analysis after close: http://niftychartsandpatterns.blogspot.in/2012/11/dow-jones-analysis-after-closing-bell.html
This is a one day pop if my target dates are correct. Gives us enough firepower to get there.
A certain little component of a certain little indicator has once again popped to the 0 line area.
The Vix interestingly has dropped to and below its lower BB which seems to always produce a bounce back and above the lower BB almost immediately. And the structure of the BB setup is not a bearish (for the $vix) setup. The lower BB is flat as is the entire BB channel. The lower BB is not flaring open with a downtrending 20day average.
It looks like the euro has already given up its gains for the day in the globex session on the France downgrade.
Apple and the Nasdaq needed a pop. Their daily RSIs were too low but they have now alleviated that condition just as a one day pop did so so many years ago as well before the market went into SKYFALL mode.
The Transports are actually following that fractal with amazing precision.
Yeah, getting that feeling as well…. It really is what they always do… Rallying up in hopes of something, only for it not to happen, or be even close to what was expected. That reference gave good examples. August 2011 was a perfect one
this is a fool’s rally
http://www.thedailybeast.com/articles/2012/11/19/day-13-wall-st-happy-with-fiscal-cliff-negotiations-but-skeptics-see-photo-op.html
yeah. Think I’m happy I stopped out then, even though at a bigger loss than usual, but that makes me think we will have that “santa clause rally”. I’ll st on the side until it either gets too high to make another short tempting, or other FPs show themselves
When stories like this come out it makes me think the opposite is true…
http://www.cnbc.com/id/49884080
You need to learn to do spreads Anthony, just for this very reason. Time decay on your options won’t affect you as much then. As long as we are below the strike price by November 30th we’ll make a profit.
I have a 135/132 put spread, where I bought the 135 and sold the 132. As long as it closes below 135 by the 30th I’ll profit. The same can happen for you but not if you bought the 132’s, as that’s the downside target area.
You need to sell the one where you think it’s going to and buy a higher priced one so you’ll be “in the money” when it hit. The time decay on the 132 will then work in your favor, not against you as it is now.
wow. Close enough to 140. wouldn’t surprise me