48 replies to this topic

[12SPX]

1 point profit brother, trying it again with a short build starting at 3050.75!  

[12SPX]

Gotta love pajama traders, now my average sell is 3062 on the ES.  Think I'll hang onto this one because this has turned into a completely irrational market.  The market is setting up for a very sharp decline, it seems everyone is ignoring the Vix, bad news and the fact that companies actually have to make money for their stocks to go up.  It really is just turning into a gambling machine sad! 

[dTraderB]

Quiet and not so profitable trading yesterday with only NQ 6-lot daytrades 

no ES or SPY PUTS trading

 

So far today it is the same -- only NQ 6-lot daytrades

[dTraderB]

While I'm thinking we get a pullback, the rally has been running on money, not fumes. And there's [bleeeep]-tons of money available.

 

M

agree, I am unwilling to be long except daytrades since the market is very extended. However, one cannot deny reality: the FED is not holding back and more trillions will be poured into the economy, SPX 3150 or higher is possible by end of June. 

[dTraderB]

A note on "conspiracy and FED actions" etc:

many more tweets about FED or others buying ES and other index FUTURESm the 3am buying splurge etc. All this may be true but 

should you try to fight the FED even if you think it is bad policy? No, not me, I will go with the trend ST and go SHORT IT if I think the market will soon decline. 

look, one has to trade the market if you want to be profitable; yes, the FED and others will do what they have to do to rescue the market and economy, apparently it is their job, but if you are a trader then you go to trade the market and not fight it. 
I am considering cutting losses on some of my SPY PUTS and buying QQQ calls for a tally that may last weeks. But, not rushing into this as yet. Let's see how this goes for the next two or three days. 

[dTraderB]

sorry for typos, very busy

[12SPX]

A note on "conspiracy and FED actions" etc:

many more tweets about FED or others buying ES and other index FUTURESm the 3am buying splurge etc. All this may be true but 

should you try to fight the FED even if you think it is bad policy? No, not me, I will go with the trend ST and go SHORT IT if I think the market will soon decline. 

look, one has to trade the market if you want to be profitable; yes, the FED and others will do what they have to do to rescue the market and economy, apparently it is their job, but if you are a trader then you go to trade the market and not fight it. 
I am considering cutting losses on some of my SPY PUTS and buying QQQ calls for a tally that may last weeks. But, not rushing into this as yet. Let's see how this goes for the next two or three days. 

Do agree as I dont really care as I trade both sides with options!  Was selling more calls this morning but I hate when irrationality takes hold!!  When it comes to the Fed though its all been mostly talk as they've been pulling back on purchases! 

[12SPX]

Guess just because I'll put a profit stop at 3060 but if it goes over I'll be right back to start selling at 3062 lol!

[12SPX]

And there we go 2 point profit and back in starting to build another short at 3062, come on baby.....And why do I love option selling,,, was gonna add to my sold 3150 calls this morning but low and behold there right at my sell price of $19.00!  tick tick tick!  Think there may be a shift starting to happen here! 

[12SPX]

3065 short now so far.