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Quick question for the put sellers out there. Given the major market highs that we've been reaching is anyone going to put on any new positions or are you going to wait for a pullback? Although I'd like to think that the recent turmoil is over The new highs really make me a little uneasy.
In my opinion there are better trades available. I will wait for a minor pullback, before I enter
short ES puts again. But I have to admit that I am waiting for this pullback quite a while ...
What Myrrdin said. Waiting for a pullback is a 50-50 thing. Sometimes it does and sometimes it doesn't. Sometimes waiting for a pullback you can give up a lot of potential profit. Sometimes not.
So what I am saying is that trying to predict the market, absent a strong fundamental reason or a strong seasonal tendency, is a waste of time.
We are at the same price as one year ago. Last year starting now there really wasn't a major dip until end of June. So last year you would have waited 2 months for the dip.
Maybe put on lighter amount of positions at a time like this. But I wouldn't sit it out.
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S&P500 down 3% from recent highs. VIX back up to 16.5. Nasdaq down 5.5% from recent highs. VXN at 20 vs 15.50 mid April lows. Premium's considerably higher than they were a few weeks back.