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WHY isn't this market CRASHING?


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#31 dTraderB

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Posted 03 January 2019 - 11:44 AM

Awesome reversal off the low, not intentional but I am daytrading calls! 

Will close a few QQQ and SPY calls



#32 diogenes227

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Posted 03 January 2019 - 11:54 AM

Awesome reversal off the low, not intentional but I am daytrading calls! 

Will close a few QQQ and SPY calls

 

Congrats on the bounce.

 

I think if you concentrate on how to day trade those SPY and QQQ options, you might find life in in options land is a whole lot simpler than anyone believes.


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#33 cycletimer

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Posted 03 January 2019 - 12:44 PM

Awesome reversal off the low, not intentional but I am daytrading calls! 

Will close a few QQQ and SPY calls

 

You might consider trading $SPX calls/puts instead of SPY.  The premium is much higher and reduces your commissions greatly.  When I traded SPY I was trading a minimum of 100 contracts and the commissions got expensive.  When I switched to trading 10-15 $SPX options (controlling same amount of capital as with the 100 SPY contracts), my commissions dropped by 90%.



#34 dTraderB

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Posted 03 January 2019 - 02:54 PM

Friends, the 3pm EST hour is rapidly approaching.

What's the big deal, you ask? 

 

Usually, that time is usually the start of one of the significant intraday trends and many times that trend can also be transformed into a daily one.

 

SPX 2300 or 2200 handle is quite possible during the next few trading days after the NFP report tomorrow

 

But, SPX 2500 & 2600 are more likely, that is, we may see SPX 2600 before SPX 2200 handle

 

The next down leg will test SPX 2250/2260 

 

The Bull case is this: the worse things get, the more likely the FED will not raise rates and sound dovish.

Also, the shutdown HAS to end soon.

And, there WILL be some improvement in the Trade War situation, even if superficial  "deals" come out of the negotiations. 


Edited by dTraderB, 03 January 2019 - 02:55 PM.