Not so. They now have Wednesday expiration. "Time decay" is a thing of the past.

Meant to infer that Friday is the BEST day to play this option......You agreed in the past with this post:

http://www.paceadvantage.com/forum/s...56&postcount=1

I don’t think that they had the Wednesday expiration when I typed that. Now “Friday” comes twice a week.

slight exaggeration at best. and you'll lose 15 times before you cash once.

ps, is it leverage we seek or edge?

SFOR down 6% today on very light volume.

still waiting for .0087 for a re-entry

S&P closed at 2369.75 today. That is right at the low end of my prediction from July 14 and that I posted here a few months ago.

The last time I made a 6 month prediction here and posted it, I was correct about the direction of the S&P and the target price, but got the timing wrong.

I'm a little closer this time. I got the direction right and hit the low end of the target, but missed it by 5 weeks.

That's not a hole in one, but close enough for a birdie or maybe even an eagle. :)

the equity markets have been up 12 days in a row now. if there is anything i have learned in life, anything that keeps on going straight up is usually a precursor to some type of crash, usually within a year of making these extended highs.

Agreed. We are getting near the top. However, the trend is your friend. I'm keeping a close eye on my portfolio and have tight stops in place.

As this slightly out of date chart shows, the S&P has gone 36 days without a 1% intra day move. It's actually up to about 50 days now.

Calm before the storm. Sell in May and go away.

http://www.zerohedge.com/sites/defau..._whatever1.jpg

a) cant keep going up

b) trend is your friend


Someone is guaranteed to look smart, if only for a brief moment.

Sometimes, nobody is wrong.

The key is knowing when to follow the wisdom of either statement.

It usually serves the individual well when he is a contrarian and goes against the crowd.

But said individual must also be cognizant of the fact that sometimes the crowd is simply correct. Many do not know this.

Agreed. Blair Hull made hundreds of millions as a trend follower.

Some of the most successful futures traders are trend followers.

I think John Henry, owner of the Boston Red Sox, made a lot of his money as a trend follower. I'd have to double-check that, though.

Well, I'd give you an eagle for the direction and numbers, but even you must admit the prediction of Hillary winning the election being good for the market was - well, not so accurate. That's assuming of course that Trump winning the election would be bad for the market.

Which begs the question, did the election results really affect the market anyway?

I was completely fooled by the melt up, and was hoping to make a swing trade on the election results, assuming there would be a big move, then a bounce back. But I thought that move would occur over several days, and not several hours, as those who went long on election eve made a killing.

But the market, unlike horse racing, only goes up, down or stays the same. It's easier to be "right" about a prediction, regardless of whether or not your logic was correct. This of course happens with the ponies too - though it takes more dumb luck to stumble on the accidental winner.

So what I have learned, or the conclusion that I have reached since the election, is that the dynamics of the market are still clearly in favor of the bulls. This defies some of the fundamentals, IMHO, but as the bulls have pointed out, you can't fight the tape. I'm not sure if the money is coming in from overseas, from the Feds, or from some alien source, but the dynamics to create any selling pressure at all are obviously not present.

It will be interesting to see how the debt ceiling and budget talks go in Congress in a couple of weeks, and how the market reacts. Trump has indicated that Federal spending is "out of control", which it is, but then he talks out of the other side of his mouth and wants to increase defense and infrastructure spending AND provide a huge tax break to the middle class. Until proven otherwise, I'm assuming his arithmetic skills are along the same lines as the magical thinking Bernanke and Yellen.

Those SPY call options did one of those rare 15 bagger moves if you bought last night,

Easy game!

If someone can do that reliably they would eventually have all the money in the world.

Clearly, easier said than done