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JE
Jeremy
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Posts: 82


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JI
jimkane
Rep: 3,058
Posts: 33,089
Well, that may be. I just play the charts, and I need some premises, whether they play out or not. We may go up to 1,700 this year like many say. But, every time we hit the next area and react my premise will be that it is an intermediate top until proven otherwise. In hindsight, if it goes up and up and up, then more money could have been made if my premise was up until proven otherwise. So be it. As long as I readjust as soon as the premise is invalidated, it's still the best way for me to play it. As soon as it starts up I go call plays, and stay until the next area. The difference is that when it hits the area I get off the call side and take a put side trigger. If my premise is up and up and up, I stay call side and ride the heat. It really doesn't matter what they do, but I can't justify a premise of bull market at this point, I can only justify a bear market rally. The most important factor is that this market can't take a shock event poised like this, and if I don't take short shots off the areas I won't be in position when it is vulnerable and a shock event happens. We'll see. On the other hand, you are committed to the long side, and that side is working wonderfully, so you have no excuse not to be on the call side profiting wildly from all this. And if what you say it correct, you can be looking at retirement by the time they stop :-) Win/win for you.
MR
mreiserer
Rep: 110
Posts: 2,220
I got my broker to remove the sell button from the software.
Whenever I try to enable I get a margin call :)
JI
jimkane
Rep: 3,058
Posts: 33,089
Well, given that, let's hope your assessment is correct :-)