ES 10-16-08

wow, a crazy globex session basically coming out flat. Volitility is very high, so entries and exits have to be quick! looking to buy near the open

long one from 942.00, 4 point stop riding it to 948

wow look at it run, great call bruce...2pts from 950 amazing..did you make any off it?

covering

Thanks guys, I was watching that 12 - 18...I just took last off at 46.75......

quote:

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Originally posted by CharterJoe

Bruce,

Nice call on 950 almost there.

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Covered as well. +7 on that one

The BAV has been very unreliable recently because of the thin bid/ask on the ES which makes trades larger than 50 lots at a time difficult a lot of the time. That said, from the 50 and larger contract lots that have traded today, big $ has accumulated more than 92k contracts off of the low today.

I am going to try a sell real soon...

out 947.00, like taking candy from a baby... up 23 for the day and done! CYA TOMORROW IN THE AM

Not as much as I would have liked to Joe...It took me three tries before I caught a good trend on that......I'm just not used to the volatility and my runners got stopped twice before I caught that last move up

quote:

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Originally posted by CharterJoe

wow look at it run, great call bruce...2pts from 950 amazing..did you make any off it?

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Prestwickdrive,

I would try making it larger than 50 and see what that does the volume has been much greater, so its a given that the smart money moves the size up to capitalize on these amazing moves.

a friend sent me this tonight so I thought I'd ask you folks:

"These are for the November options.
Do you have a clue what the catch is?

Sell 94.00 puts 94.00 SWGWP make +$9.48
Short the SPY at $94
Buy 94 calls 94.00 SWGKP pay -$4.73
Net profit $9.48- $4.73= $4.75
This looks like a risk free trade to me.

What's the catch?"

Thanks

Bruce