06/12/2012 Live Update

[Mr. T]

I can relate. It's like being stuck in a cruel cycle.
Sort of of like...wax on, wax off.

The moral of the story is; stay in warm bed with wife.

Amen

[soku]

SPY: I sold to open a progressively constructed strangle (see chart). Thus, I am playing this OpEx under the assumption that the SPY range 131-134 has a high P to be observed on Friday close.

But this is still very risky… It is hard to imagine that THEY will simply give me an easy winning play.

So…where is the risk? For this very important quadruple witching, I would say: on the UP-SIDE! However…until Friday, some down moves could be masterfully executed, on high VIX…like it happened minutes ago:

usually i don't short strangle because it is hard to maintain position. let's say if index goes above the selling price and keeps on going up, and takes the ma, what do you do? usually back ratio or butterfly are easier and cheaper for risk management.
1 thing i didn't explore is to play with options on futures. maybe i can use es to manage the risk of option combo?

[gappy]

choppy today. es stays in 1302-1309 flat. not sure what's next. i guess we may stay here a little bit longer.

it's possible es lost 1302 and now in another small region of 1298-1303. again, it is choppy. not worth anything.
let's think of stock picks. how about airlines? comments? picks? thoughts?

Oil after the OPEC's meet. Market likes clarity.

how about using my assumption oil will be tamed for the rest of this yr.

Yes but small swings will be there. Too, it costs Iran $85/bbl to produce, how much patience do they have.

[Richarab]

I can relate. It's like being stuck in a cruel cycle.
Sort of of like...wax on, wax off.

The moral of the story is; stay in warm bed with wife.

Amen

i also play in bed with hot knives

[SB73]

The bullish bearish engulfing candle statistics are mind boggling. Thanks again Cobra for a beautiful trade setup last night.

[pezhead9000]

Curious, how does stocktiming.com measure liquidity?

[soku]

could be a reversal to upside. euro stabilized after the bond auction. ecb news on all tv channel now.
where is cobra today?

[fehro]

trendlines

[Cobra]

I think we may see 2 legged rebound here, now it's the 1st leg up.

[Al_Dente]

Genuine classic textbook short squeeze

[Petsamo]

The Nikkei, Hang Seng, & India, all rallied from their open. Europe looks like they'll do the same. US should follow

[soku]

could be a reversal to upside. euro stabilized after the bond auction. ecb news on all tv channel now.
where is cobra today?

we now at the break down point from yesterday. es 1310-1315 seems strong res to me, but in this market anything is possible.
cobra falls into sleep today. now it's time for me to take a nap.

[SB73]

Not complaining, but who just printed money?

[Cobra]

goes as planed. resistance, volume surge, so might take a breath here then the 2nd leg up.

[cougar]

SPY: I sold to open a progressively constructed strangle (see chart). Thus, I am playing this OpEx under the assumption that the SPY range 131-134 has a high P to be observed on Friday close.

But this is still very risky… It is hard to imagine that THEY will simply give me an easy winning play.

So…where is the risk? For this very important quadruple witching, I would say: on the UP-SIDE! However…until Friday, some down moves could be masterfully executed, on high VIX…like it happened minutes ago:

yo cougar man. u back! how is going.
check 1 fda for me arna

Doing better now, after SPY bounced strongly above 131
ARNA looking good => octave (7.81) +1/8 bonus = ~8

[Richarab]

what about Umpel's 12noon signal for today?

[Cobra]

aapl goes as planed too. http://stockcharts.com/public/1684859/c ... /260183775;

[KENA]

point of intrest..2 min. before closing yesterday P bar at 132.71 The hi a few min ago 132.64.

[hdenandy]

Look at those Spanish bond yields - now higher than their November peak !

[TraderGirl]

There is a possibility of a mid to late day sell off today, to what levels, I don't know, could be minor or could be severe...
Don't think it will be a lower low...