Dipping toes, getting dunked
Mar. 14th, 2018 11:29 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
drhoovesSo I figure I need to make a few posts to figure out how the dreamwidth site works, as I've joined some sort of "Fellowship" proposed by John Michael Greer on how to write a work of fiction (at least I think that's what it's about).
This morning, I made a few quick trades on the /ES (S&P futures), as it appeared to be nearing a critical trend line upwards, established on March 2nd. The increase of volatility over the last six weeks has made the futes more jumpy, and liquidity is still just a fraction of what had been typical prior to the major selloff that began on January 29th. After some chart work, I figure the S&P is going to rattle around abut between 2765 and 2745 before making a new thrust upwards. As I typed that in, the /ES just dove 10 points (from 2763 to 2753), for fun. Gotta have nerves of steel to trade this days with the violent moves.
My scalps earlier were good for $250 or so of profits, and I bought a short-term call option of 2800 for $230, which expires next Monday. So my prediction is see a nice sharp move up of 40-50 points by end of week or over the weekend, and if I'm wrong - oh well. Risk/reward looks like a decent play.
A couple of news items over the last couple of days caught my eye. The Brits are getting in a urination contest with the Russians over a couple of spies dying from a nerve agent (yikes!), and 23 Russian "delegates" (er, intel operatives or spooks) were tossed out by the Brits today. Revival of the cold war continues.
Another news item was a bit more unsettling, with both Bill Gates and the chairman of the World Health Organization warning of a pandemic triggered by bioterrorism is a real and concerning threat. Perhaps I shouldn't have declined by pneumonia shot down the clinic a couple of weeks ago. D'oh!
(Update, /ES dipped to 2748.75, and then took off north in a big green candle. Amazing.)
The other boring thing I did today was review a thread on Pace Advantage Forum (horse racing site), where the Off Topic section had a post about a new update to surrogate laws in Washington State, which quickly devolved into a debate about Pizzagate. As usual, both sides were talking past each other, and the only useful takeaway from my perspective is how strongly people stick to their personal views when evaluating news, regardless of the "facts" verified. This was precisely one of the points by JMG last week in his post on a lack of proper rhetoric in today's debates. Speaking of JMG, I see his weekly post has hit the streets. Gotta go.
This morning, I made a few quick trades on the /ES (S&P futures), as it appeared to be nearing a critical trend line upwards, established on March 2nd. The increase of volatility over the last six weeks has made the futes more jumpy, and liquidity is still just a fraction of what had been typical prior to the major selloff that began on January 29th. After some chart work, I figure the S&P is going to rattle around abut between 2765 and 2745 before making a new thrust upwards. As I typed that in, the /ES just dove 10 points (from 2763 to 2753), for fun. Gotta have nerves of steel to trade this days with the violent moves.
My scalps earlier were good for $250 or so of profits, and I bought a short-term call option of 2800 for $230, which expires next Monday. So my prediction is see a nice sharp move up of 40-50 points by end of week or over the weekend, and if I'm wrong - oh well. Risk/reward looks like a decent play.
A couple of news items over the last couple of days caught my eye. The Brits are getting in a urination contest with the Russians over a couple of spies dying from a nerve agent (yikes!), and 23 Russian "delegates" (er, intel operatives or spooks) were tossed out by the Brits today. Revival of the cold war continues.
Another news item was a bit more unsettling, with both Bill Gates and the chairman of the World Health Organization warning of a pandemic triggered by bioterrorism is a real and concerning threat. Perhaps I shouldn't have declined by pneumonia shot down the clinic a couple of weeks ago. D'oh!
(Update, /ES dipped to 2748.75, and then took off north in a big green candle. Amazing.)
The other boring thing I did today was review a thread on Pace Advantage Forum (horse racing site), where the Off Topic section had a post about a new update to surrogate laws in Washington State, which quickly devolved into a debate about Pizzagate. As usual, both sides were talking past each other, and the only useful takeaway from my perspective is how strongly people stick to their personal views when evaluating news, regardless of the "facts" verified. This was precisely one of the points by JMG last week in his post on a lack of proper rhetoric in today's debates. Speaking of JMG, I see his weekly post has hit the streets. Gotta go.
