104 replies to this topic

[redfoliage2]

It's a 100% news driven market.  Depending on what will happen overnight/tomorrow in the Middle East the market will keep spiking up and down.  Today's dip likely will be bought as Trump, Rubio say Iran talks ongoing despite state media claims albeit localized/limited military actions................................

BTW, localized/limited military actions are needed for getting a deal in this case as they are essential parts for this kind of negotiation though I don't know if it's written in The Art of The Deal ........................

Edited by redfoliage2, 03 June 2026 - 12:52 PM.

[12SPX]

I am so tired of listening to what those guys say as its constantly wrong and they're always making a deal meanwhile Iran bombs Kuwait etc.  Just go in there and bomb the sh*t out of them so the only thing left are slingshots.  Meanwhile my Wednesday 7650 calls are going off the board with full $10.10 profits and my Friday's 7650's are looking great.  I'm also lowering my profit stop to 7600 for the night session.

[12SPX]

There we go, I wonder what's being said right now, moving my profit stop down to 7550 for a very nice 80 point profit if hit as we will be starting the night session soon.  We'll see about selling the bounces

[redfoliage2]

Crude futures retreating after cash market close as the House passed the bill to stop the US-Iran war.  The bill now is going to the Senate to vote:

 

For the first time, House votes to end Iran war in rebuke to Trump

Edited by redfoliage2, 03 June 2026 - 06:22 PM.

[12SPX]

Well how about that, I was taken out of my short overnight for a whopping 80 point profit.  This morning I'm also taking profits on my sold Friday's 7650 calls for a profit of $12 as they are basically worthless and as I have said we could see some volatility now although I still believe we could see a total of at least a -5% correction in the very end as the summer is going to be volatile, maybe even to November. 

[12SPX]

Hmmmmm, calls are still pricey and since were working on the 9th week up theme, I'm starting to sell tomorrow's 7610 calls for $5.70 as I don't mind going short there anyhow for the weekend if need be.

[redfoliage2]

Well, just sold tomorrow's ES 7600 calls at 15 .......................... 

Edited by redfoliage2, 04 June 2026 - 10:28 AM.

[12SPX]

NIce your on the same page because if we get above 7680 on the cash SP500 Friday that will be 10 weeks up in a row and has never been done since 1990.  I'm now averaging $8.20 on the 7610 calls I sold

[redfoliage2]

I see SPX likely to close the day in red again as big players are unloading at this juncture ...............................

Edited by redfoliage2, 04 June 2026 - 10:51 AM.

[redfoliage2]

And now the President is not as optimistic as before with the Middle East peace talks:  Trump says Iran talks are getting 'very boring' — and consumers are 'willing to pay a little bit more' at the pump for now

Edited by redfoliage2, 04 June 2026 - 11:02 AM.