So, what do you do? NAAIM is on a marginal ST Buy. IT Neutral.
So do you fade the pros or fade the amateurs?
I know what I'm doing, even if it makes me nervous.
M
Posted 25 June 2020 - 10:18 PM
So, what do you do? NAAIM is on a marginal ST Buy. IT Neutral.
So do you fade the pros or fade the amateurs?
I know what I'm doing, even if it makes me nervous.
M
Mark S Young
Wall Street Sentiment
Get a free trial here:
http://wallstreetsen...t.com/trial.htm
You can now follow me on twitter
Posted 25 June 2020 - 10:47 PM
Turbulent waters are for adrenaline junkies.
I prefer lower blood pressure. ;-)
Edited by Rogerdodger, 25 June 2020 - 11:03 PM.
Posted 25 June 2020 - 11:43 PM
"In the lead up to the past 2 recessions, a pattern has emerged; the top 1% sell shares, while the bottom 90% buy more. Today, we look at how this pattern is re-emerging and how we can protect our money." https://www.youtube....h?v=upDnEwA4Wnk
And this video says Ray Dalio thinks we are in a depression and what he is doing now... https://www.youtube....yBckxu33pc5YTPT
Posted 26 June 2020 - 12:44 AM
Im just playing the scalping game, until one side wins.
Posted 26 June 2020 - 07:17 AM
My system has generated an IT possibly LT sell.
this is negated if we close above 3100.
a sell off today is very bearish into next week, IMHO.
I’ve been entering short around the 3090 SP cash price this am. 10 point stop
Edited by salam, 26 June 2020 - 07:17 AM.
Posted 26 June 2020 - 07:30 AM
So, what do you do? NAAIM is on a marginal ST Buy. IT Neutral.
So do you fade the pros or fade the amateurs?
I know what I'm doing, even if it makes me nervous.
M
What are you doing, what are you doing?.... This is why I like option selling. Right now the calls are holding more premium than puts from what I'm seeing but their both losing pretty good so indecision seems to be out there. I was in and out for a few points around 7:00 pst and then kept selling right at the top so at the moment average short on the ES at 3075. Markets not making sense with the horrible announcement from the Fed on banks, Nike seeing poor earnings, rising Corona virus cases, little POMO, Trump annoucing the "China plague" about three times last night which is likely to piss off China and poor sentiment. Thought it would be way down but holding up ok guess we'll see at the end of the day.
Posted 26 June 2020 - 07:46 AM
So, what do you do? NAAIM is on a marginal ST Buy. IT Neutral.
So do you fade the pros or fade the amateurs?
I know what I'm doing, even if it makes me nervous.
M
What are you doing, what are you doing?.... This is why I like option selling. Right now the calls are holding more premium than puts from what I'm seeing but their both losing pretty good so indecision seems to be out there. I was in and out for a few points around 7:00 pst and then kept selling right at the top so at the moment average short on the ES at 3075. Markets not making sense with the horrible announcement from the Fed on banks, Nike seeing poor earnings, rising Corona virus cases, little POMO, Trump annoucing the "China plague" about three times last night which is likely to piss off China and poor sentiment. Thought it would be way down but holding up ok guess we'll see at the end of the day.
You said before you trade ES options exclusively, right?
Last I looked the cheapest ones were 10k each.
Posted 26 June 2020 - 08:11 AM
My system has made money since 1962, and made me a financially independent at age 57.
It is very simple.
Buy low, sit on it for 3-5 years.
Sell when 30%+ profit occurs.
Very simple system.
Gave me lots of time to play golf at a nice private country club instead of wasting time sitting in front of a computer all day.
Now I am 80, and my kids are going to be very rich when I kick the bucket.
Posted 26 June 2020 - 08:14 AM
Nope never buy options only sell them, premium decay is always the best way to make an income at this job! Very boring at times but it works. Up to you how much risk you take. For example, 3450 calls sold originally for $5.75, now $1.00, likely take them off soon, 2750 puts, average in $22, now $16 with stops to protect that profit, may even just take them off today. Heavier on selling calls right now with where the market is though as calls are way tooooo bullish right now which to me is real sentiment, people are really putting their money where there mouth is however you have those pesky 5 Fanmg stocks and POMO holding everything up lol!!! Just let the stupid thing correct and be natural so we can keep a normal bull market go lol!!
Posted 26 June 2020 - 08:16 AM
My system has made money since 1962, and made me a financially independent at age 57.
It is very simple.
Buy low, sit on it for 3-5 years.
Sell when 30%+ profit occurs.
Very simple system.
Gave me lots of time to play golf at a nice private country club instead of wasting time sitting in front of a computer all day.
Now I am 80, and my kids are going to be very rich when I kick the bucket.
Agree with that but I take it with me even on the tennis court lol!! Started doing that standing in line at Disneyland with my kids and my Palm pilot! Loved that thing lol!!