emini rally this week like i predicted below last week and in my youtube video 3 weeks ago. plan is to load up on shorts positions this week. start to sell 1wk calls at 1900, 1950, and sell 10x es mini if it reach 2000. i think it will start to fall back down around 1940... and will test new low at 1800 at either the end of this week or some time in the next two weeks. we are going to have 1.5wk up days and 2wks crash after that.
@Varomnia so you say you follow oil to determine what SPY might do. Can you explain a little what you mean? For example, if oil is down, does that mean SPY might be going down?
if oil is down spy goes down... if oil is up spy will stay the same but not go up as much maybe even a little down.
we are in a Bear fear market, spy will go up only based on Fed not oil. Oil price is depend on dollar value not production #, it can move up on rumor of production cut but thats short lived.
since oil is already really cheap as today SPY will have a small rally for the next 1.5 weeks. That will be your opportunity to open short positions.
So basically what you were doing is watching Oil (and other stocks) and that helped you determine what SPY would maybe do on te NEXT day, right?
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arg... I got way too much money stuck in $AAPL right now.. due to puts i sold. owells I guess I will just have to collect my dividend and short weekly calls. I rather get stuck in Oil or Gold tho. https://www.youtube.com/watch?v=90a_IE-J5G8
@Varomnia you're gonna be a great teacher when you finally bounce back haha
global market is going to tank tho.
I wouldn't touch amazone.
it's going to keep going a lot lower in 2016 at least another 50%
long term it pays no dividend I wouldn't want to hold amazone bag for years.
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arg... I got way too much money stuck in $AAPL right now... owells I guess I will just have to collect my dividend and short weekly calls. I rather get stuck in Oil or Gold tho. https://www.youtube.com/watch?v=90a_IE-J5G8
@Varomnia short like a crazy person!
@PrezedentX your account is way too small to use etrade to trade options go on tastytrade for option small tastybite account link for think or swin. if you want to trade stocks and options and you have 30k. use interactive broker. otherwise stay with think or swin.
what are emini's??
And which ones do you suggest?
emini is ES Spy future
XOM is my oil play, GDX for gold. I mostly sell options 1sd out of money.
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