Hello Fellow Slopers!
I hope you made a lot of cash today. I think the collective group here has helped each other so much. I am especially grateful to Evil Spectulator (molecool), Moon Trader, Gary, Gagelle, and Master Shake – – I'm probably forgetting some names, but this is just a quickie post.
September 29th was said to be the "biggie", and I'd say we got what we bargained for. I have a couple of important appointments I need to attend, so I won't be doing a post until tonight. But I will share a few quick thoughts:
- The risk/reward on my index puts got so extreme that I sold all of them a few minutes before the close.
- I believe the indexes have been pushed to such deep levels that the opportunity for a substantial bounce is before us. Being the type that puts his money where his mouth is, I bought 100 November QQQQ calls shortly after the close today (you can get these for an extra 15 minutes after the regular closing time).
- I think the juiciest bearish opportunity is actually in the future; perhaps weeks out, or perhaps months out. I'll talk about this more tonight.
Today was the best trading day of my entire life, and, again, the terrific community here is a major part of that. I hope that, in turn, millions of dollars in profits were made amongst the audience here. Thanks, everyone, and I'll write more later today!
