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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
Short again 893
covering
out 893.50,plus 4.5.. now up 18.5, looking for a sell around 910-12
added some @ 900 avg 896.5
5 min avg is 911.50 and thats where 1.618 times the first bounce comes in(plus price proj. is around 910) so thats where my sell one order is ...4 point stop
Long at 900 for 905. 4 stop taken out already will be back long at 900
Short TF @ 500, limit @ +2.5
since we never even paused at the numbers i gave earlier(896-899), im of the opinion that were heading for a retest of the yearly low. possibly today.
Just hit limit on the Rut 2k
Covered short on ES +4
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