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silvestor17 - that site has some good stuff on working with deltas
of course , as you know, 'they' do tons of head fakes and then jump out the way so if you're not knowledgable about bid/ask ratios you could get hurt or a nice hair cut
but , im preaching to the choir cause you sure as heck know more than i ever will
Well, a few charts up here, all ending on Friday, all SPX Cash index (underlying the futures). I've got a daily, the weekly, and the monthly, with a few annotations. It's up till it ain't up anymore. Duh. I decided to dovetail on Gio's thread -- if he doesn't mind -- since he's obviously a much better trader than I -- and I think people read his threads more than they read mine LOL.
Everyone's looking at the same charts and the market's climbing that slow wall of worry. The economic fundamentals IMO don't warrant this continued move, but the market speaks for itself; right? I want to agree that this move is long overdone, but I think what's going to finally break this thing is going to be news/event-driven. Till then, I still don't want to be long stock in a long-term portfolio, I'm still shorting spikes (on an intraday basis only). All one has to do is take a look at the stochastics in these timeframes and see how overbought everything is. But they're going to keep running in the shorts as long as they can, till they can't any longer. I think these pundits talking about 12,000 Dow and 1,200 SP are nuts, but anything can happen. If it happens this year, I think that is just going to make it even scarier on the downside than if it were to happen next year after relieving this overbought condition.