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I disagree we are in the doldrums. Corporate profit is at record high. Home sales are booming. Car sales are booming. Construction spending is up. Hiring is strong. PE's are at normal levels. ISM Manufacturing index up. Consumer Confidence and Sentiment numbers are up. Income numbers are up.
And all that after payroll tax increase and sequestration cuts.
In my local paper there are help wanted ads for oil change technicians. When entry level jobs have to be advertised you know the situation is good.
For me that depends on the underlying, I simply divide my account into 'risk units'. I focus on what I stand to loose in a worst case scenario. Pending my conviction I decide the width of the spread, the number of contracts is simply a result of how many 'units' I am willing to risk. Generally speaking the trade structures are somewhere in the range of 1 to 4 strikes apart.