Im playing with house money so i can afford the losses if im wrong which i could be. I think we could see a parabolic up move. A final disgraceful show of "greed" if you will. My issue with the bearish stance is foreign markets are dramatically oversold and that money in metals and bonds are going to find a new home in equities which will be the next transient "pump".
This is going to sound silIy but I think S&P 1750 is a real possibility here by July opex. If the "real" pullback is in fact upon us then this will dip lower than anyone here even thinks. Probably high 1400's or so in which case I lose everything I just made ($90,000). I do not think this is the pullback though. I think its the eye in the bullish storm. I bought 5000 (yes 5000) $168 SPY call contracts for July's exp on Friday. I hold 9% of all the open interest on those calls now. Crazy? In hindsight maybe it was but Im going to take my shot. This is the biggest single trade I have ever done. Thank you for listening to my disclosure. Just needed to tell some folks. And yes I am a bit nervous.
Good deal. I'm still working on getting to that house money for this year, but if I do, I have to believe it could help my trading by giving me a little wiggle room when I take a position. I think I won't feel compelled to try and pinpoint to near perfection an entry and exit of a trade.
If true it means you were sitting underwater for two weeks! It also means you simply got lucky. Had Ben not said what he did yesterday, something you and even THE MARKET did not know was going to happen, you'd have likely lost most of your money.
Again, you are no different than most rookie traders I've seen... they made millions for years only to lose it ALL within a matter of weeks or months. This market was poised to sell-off, this is why you are seeing such a muted reaction to Ben's words so far today.
Congratulations on your big payoff, but again, people who misconstrue their luck for skill will ultimately lose it all as a function of their own hubris.
Tydurban, i think u are a wild sob for that trade but at the same time nobody on earth would have expected a $6 loss in spy in a matter of two days. Quite frankly i have not got the slightest clue what the market will do. My technicals are a mess and i am in cash. This could crash $4 or rocket $4 on monday alone and neither would surprise me the least. Good luck. This market is just too insane for me to participate in right now.
Hello my friend, You are the brave person, I would like to have a friendship to learn more from you I have a service with saffer research is fantastic but Emotional killing me not make money! please advice your opnion
Rates are the key to your trade. Bond market many times bigger then the stock market. Rates continue in this range or higher and you have no chance. I do agree things are over sold and we could see another leg up, but my indicators don't see it that way. More like a back and fill for a while.