Darn, no big money today. Someone did pay me $.01 for my options with 3 minutes left in the day, however, so I only lost $800, not the full $1,000. If that's not money management, I don't know what is!
I think it could close near $27. Nobodys holding this over the weekend. Yesterdays gains and today's will be wiped off the table. 1249-1255 that's the level people should be concerned with. Everything else is just noise.
Sure shorting it longterm has been "money" but can you outlast the temporary spike and remain liquid? It's going to be a war of attrition here for a few weeks and not getting margin called should be considered an accomplishment. Steep backwardation could set in and push this higher than you imagined possible only weeks ago. I just don't understand why someone would want to go short right now. Why not wait until the 1249-1255 battle for the s&p and world becomes clear(er)?
whats going to really send these shorters over the edge is when the greece situation gets "resolved" and the markets are down 2%... on "NO" news...
what does the media machine spin than? debt concers? concerns over inflation/deflation? concerns over unemployment?
what a crock. how about - your money managers were wrong, the fwd PEs are not low, and the IMF is lower US GDP growth, the past year has been an illusion. they wont ever tell the truth
The reason they aren't telling full truth is because the outcome is worse then losing some money in the markets. They will lie, inflate markets, do whatever it takes to keep everything going. If we do crash like 2008 its depression time and most of us will be asking for handouts if not killing each other in order to eat.
Just don't think that time is here yet. Close.. but not until China and India become more like us. They will power the world forward for a few more years before Armageddon.