Anyone see a floor if 2725 breaks?
I'll have a comment later.
I'm interested in selling it on good news from the G20 gathering if we see 2800-2840.
I don't trade stock indices but this is in an interesting place:
Good chart Mike. That 50 MA is coming in just above Friday's close. Might be a useful marker.
Thanks, that's what makes the chart look so interesting.
That's a pretty big move today... did you get a piece?
I'm rooting for you Joj!
STATEMENT FROM CME
The CME Group said it had to intervene with multiple 10-second pauses to prevent a steeper decline in the equity futures.
A CME Group spokesperson offered the following statement to CNBC:
"Our equity index futures and options markets paused intermittently following this evening's open due to volatility, which triggered more than 40 Velocity Logic events in the first six minutes of trading. All markets operated as designed throughout."
Switching from tracking SPZ8 to SPH9 today.
This is not the floor I’m looking for - still holding for my papertrading entry of this market.
I think we will freefall before we find a floor in this market. IV should concurrently perk up. That’s the set up I’m looking for. Look out below!
The wheels have come off the bus.
Thank you, Mr. President. You own every bit of this.
...actually the Fed has completely controlled this, once again from the Fed's inception on Jeckyll Island...dude, everybody knew about the rigging from 2008 and this is what happens when you deal with the PRIVATE FED ... dude..... get short and ride the wave... today's price action in the last hour was like catching a 50 cent silver or soybean move...
... he will yank Powell... and yes he can
Gotta love those IV plays when everyone else is frantic. Who says options are for sissies??!! lol
I disagree with you. Trump, especially his loose Twittering fingers, has a lot to do with this. He needs to take the blame for a change instead of blaming others, which he’s great at doing. He was taking ownership for stocks zooming up and needs to do the same during this plunge. Otherwise, he’s being a hypocrite and a baby.
Besides, he’s hurting himself when he causes the market to tank like this. His re-election chances are slowly going down the Johnny flusher. He has no self-control. Keep in mind I’m not saying this as a lib/Dem since I’m not that in the least. I’m a right of center independent who has voted GOP much more than Dem.
The 1/4 % rise in interest rates meant nothing and needed to be done, the handling of consumer loans,auto loans and non secured loans has almost mirrored the action in home loans in 2007 -early 2008. They are being packaged the very same way and sold as a bundle, this is being done as people are looking for interest return and reaching for a 6% plus return. This interest rate bubble has the fed spooked and it should.
Very thin trading today.
Looking for a Friday ceiling needing significantly better than Tuesday or Thursday’s volume. Wish I had IV data - betcha there are interesting skews between fungible months (F,G,H) and strikes right now.
(Paper trade thoughts)
Set up is complete.
Trigger: If the market drops >25+ points anytime Friday 1/4/2019.
I would start looking at deeply oom 1:1 diagonal Put calendar spreads (I’d look at the long H, short F first; then long June, short April). No legging. Limit order.
IV skew I’d look for: Closer to the money F skewed high with further oom H skewed low.
Set up and trigger still intact. Looking for a drop of >25+ anytime Monday as the same trigger for the same position characteristics as yesterday. Market view is “not bullish” until the 50 and 200 day ma cross back.
If we are in a “not bull” market (my outlook) it will have to start acting like it before the next month or so is up.
If range bound I suspect we are near the top of one. If bearish the peaks need to be lower by definition. Either view require a drop in the reasonably near future.
If those thing are not true I would reconsider my market view - especially watching the 200 day and 50 day for a cross.
Until then, looking for IV play - in particular woom Put calendar spread with fungible legs. Minimum 25 point drop anytime on the dailies is still the trigger.
Stu, if you’re still here - how close to real time does Time And Timing give IV data? EOD?