I have actually done that in the past. Once the direction is determined I either sell the loser and let the winner ride or sell the winner and wait for a pullback to sell the loser.
It depends on how fast and far the winner runs.
ok, well, no matter what happens, there’s going to be a big move in one direction, so, why not buy both ways on a weekly option? Risky, of course. But I bet you’ll make over 100% in either direction no matter the outcome.
Yes I do WB… but again, it all depends on the vote outcome this Sunday. The more fear they spread on the “Manipulation Media”, the more I think the opposite. Seems pretty obvious to me that they are telling us sheep ahead of time so we’ll get short over the weekend expecting the worst.
Then they will likely “save the day” and push this out until a later date… allowing a rally to squeeze the new shorts. We’ve seen this game many times in the past and I’ve always got burnt if I took a short position. Therefore, it’s best to just “not play” and wait until the meeting is over.
If I’m wrong and the outcome is negative then the market will gap down. If I right and the outcome is positive the market will gap up. Since it just a flip of a coin here guessing on the outcome it’s better to miss the first big move on Monday and wait for a backtest to take a position.
If they gap up then wait for it to backtest and ride it up to that 1370-1385 area. If the gap down then wait for a backtest and ride it down to infinity… LOL! Note: when I say “backtest” in this example, I don’t mean any particular trendline but am instead simply referring to “trying” to close the gap, or at least hit “gap window”. (I really doubt any gap will be filled, but a quick move back is common… and short lived).
ES Charts:
http://niftychartsandpatterns.blogspot.in/2012/06/es-support-and-resistance-levels_14.html
I have actually done that in the past. Once the direction is determined I either sell the loser and let the winner ride or sell the winner and wait for a pullback to sell the loser.
It depends on how fast and far the winner runs.
unless we’re flat, and then you’d really only get burned if outcome were already priced in, which thay might be.
ok, well, no matter what happens, there’s going to be a big move in one direction, so, why not buy both ways on a weekly option? Risky, of course. But I bet you’ll make over 100% in either direction no matter the outcome.
Which way Anthony? How do you know if it’s going up or down? Get it wrong and you’ll be crushed.
Why not just do a spread?
Yes I do WB… but again, it all depends on the vote outcome this Sunday. The more fear they spread on the “Manipulation Media”, the more I think the opposite. Seems pretty obvious to me that they are telling us sheep ahead of time so we’ll get short over the weekend expecting the worst.
Then they will likely “save the day” and push this out until a later date… allowing a rally to squeeze the new shorts. We’ve seen this game many times in the past and I’ve always got burnt if I took a short position. Therefore, it’s best to just “not play” and wait until the meeting is over.
If I’m wrong and the outcome is negative then the market will gap down. If I right and the outcome is positive the market will gap up. Since it just a flip of a coin here guessing on the outcome it’s better to miss the first big move on Monday and wait for a backtest to take a position.
If they gap up then wait for it to backtest and ride it up to that 1370-1385 area. If the gap down then wait for a backtest and ride it down to infinity… LOL! Note: when I say “backtest” in this example, I don’t mean any particular trendline but am instead simply referring to “trying” to close the gap, or at least hit “gap window”. (I really doubt any gap will be filled, but a quick move back is common… and short lived).
This is what I’m thinking…
http://screencast.com/t/PnORVdrZH
Hey Red. U think a rally before this blows up?
Gomez was taken out for Klose at 72minute mark ie 77……..or 612???
Klose then promptly ran into the Dutch goal keeper#1 to form a 111.
I got it… I’ll listen to it now as I’m bored anyway.