Sellers of Option Premium have maade out like a bandit lately. Miniscule ranges proportionate to our level is perplexing to say the least.
Stay grounded and remember that volatility will revert to the mean. someday.
Who knows when?
Overtraders who are looking for action may soon find themselves applying for a job at walmart.
Preserve capital while we wait for better days.
#EMWS still using 2563.75 to 2567 as next resistance target ow.ly/WVQN30fXvhI DT4$2 python squeezer
RT @DrewMauck The CEO of @QuantConnect is jamming w/ the ever-prepared @AnthonyCrudele talking #cryptocurrencies #algotrading + #crowdfunding at #FIAEXPO
Slack
eminiwizard [7:44 AM] now here is the 2562 target coming into fruition
[7:44] https://content.screencast.com/users/EMWS/folders/Jing/mediaxxxx480/2017-10-18_0740.png
[7:45] note how xxx
[7:45] measured or equi distant move
[7:46] powerful for trend and swing, position traders
[7:50] 2563.75 to 2567 still the next resistance targets
[7:50] xxxxxx 2555 xx x
[7:50] still support
[7:51] xxxxxx
[7:51] xxxxx
[7:52]xxxx done
[7:53] xxxxx done
[7:54] took 3 days lol
[7:54] theta burn
[7:54] java back later
[7:55] t1 long side today is 63.75 and t2 is 2566.25
[7:55] just sayin
Renato Santos [8:09 AM] GM ALL
evan [8:10 AM] GM Renato, gm all
eminiwizard[9:08 AM] hi guys
[9:08] hi ladies
[9:09] busy here
[9:10] will set up zoom
[9:10] and be right back
[9:10] https://zoom.us/j/462566116
eminiwizard [7:09 PM] https://content.screencast.com/users/EMWS/folders/Jing/media/eeec5388-46xxxx9ba4805/2017-10-18_1908.png
[7:10]xxx completion target achieved today at 2561 xxx
[7:11] next? zeek’s 2566.75 xxxx
[7:11] simon
[7:11] same method, only faster in 40 point days
[7:11] and xxxx days
[7:12] :slightly_smiling_face:
—————–
10:47] There are traders in the first dt4$ course that you can interact with if you begin posting in the general room
[10:48] that would be my preference as we will have a potentially larger group
—– Today October 18th, 2017 —–
evan [7:41 AM] sounds good, thank you E
Zeek Snodgrass [8:09 AM] gm
[8:09] housing starts at 8:30
[8:09] 61.25 weekly x xxxx hit
[8:14] xxx2 nearly completed
[8:14] 56-xx66 nexxt step
Mike M [8:15 AM] gm
Zeek Snodgrass [8:25 AM] gm Mike
Mike M [8:33 AM] xxxxxxxxx
Zeek Snodgrass [8:44 AM] 2563.63 isxxxxxx
Zeek Snodgrass [9:21 AM] looks like shorts pay up first
[9:23] 66-67 is a medium term completion area
[9:23] may not matter since bots never sell
[9:27] Picking exact tops is dangerous to your account
[9:27] This craziness ends when it ends
[9:27] expect xxx tomorrow on 30th annivesary of 1987 crash
[9:28] 61.75 demon 57 angel
eminiwizard[9:28 AM] zeek
[9:28] zoom open go to general room
[9:29] 9:10] https://zoom.us/j/462566116
Thank You
zOOm
09:22:33 From Dennis Parmelee : good morning
09:27:52 From Dennis Parmelee :xxxxx
09:29:49 From Dennis Parmelee : 10:47] There are traders in the first dt4$ course that you can interact with if you begin posting in the general room
[10:48] that would be my preference as we will have a potentially larger group
09:40:24 From Zeek Snodgrass : 2558 is globex rain line
09:41:59 From Mike : half gap
10:07:15 From Zeek Snodgrass : 57.25 gap fill
10:17:50 From Zeek Snodgrass : gap fill hit
10:17:57 From Zeek Snodgrass : 58.25 new angel
10:31:47 From Simon : I find that if I place the chat box in the bottom right of the window, it never covers the active part of the chart
10:32:01 From Simon : very useful for reading the chat and not affect trading
10:37:49 From Dennis Parmelee : thank u zeek for posts
10:39:16 From Dennis Parmelee 😡
10:39:23 From Dennis Parmelee : x
10:39:33 From Dennis Parmelee 😡
10:39:47 From Dennis Parmelee : rainline 54
10:39:51 From Dennis Parmelee : 54.25
10:46:55 From Dennis Parmelee : think option expiration limited range and opportunity
10:52:32 From Dennis Parmelee : convenient trade was short for half gap and gap
10:53:05 From Dennis Parmelee : trend buy is flip to 58/57 buy zone 54 support
10:53:20 From Renato : 2 nice opps already, short and long sides.
10:54:03 From Renato : +2 or 3 is HUGE lately.
10:54:24 From Dennis Parmelee : lol yes unfortunately
10:54:40 From Dennis Parmelee : neutral
10:54:52 From Dennis Parmelee : not a fan of big move either side
10:56:01 From Dennis Parmelee : 57.25 is zxx
10:56:24 From Dennis Parmelee : symmetry
10:56:55 From Dennis Parmelee : prior resistance = support first time back
11:00:37 From Zeek Snodgrass : 60.25 demon hit
11:00:48 From Zeek Snodgrass : low to hi rth is 3 pts
11:00:59 From Zeek Snodgrass : rth range is 4.5 pts
11:01:32 From Zeek Snodgrass : getting used to long naps between trade entry and taking profit level
11:03:54 From Zeek Snodgrass : we are still inside globex range (6 pts)
11:04:11 From Dennis Parmelee : just like playing golf with old person who hits ball 25 yards at a time
11:04:28 From Zeek Snodgrass : that is a perfect description of my golf game
11:04:51 From Dennis Parmelee : lol
11:04:56 From Mike : haha
11:05:38 From Mike : nice round though especially for not having played
11:05:41 From Mike : in a while
11:06:06 From Mike : y
11:06:25 From Mike : great to get out there i just rarely make the time anymore
11:08:12 From Mike : right
11:08:27 From Mike : sign me up!
11:09:09 From Mike : right atl
11:09:28 From Mike : played twice a few weeks ago but up in michigan
11:09:55 From Mike : y avoid if possible driving up here
11:10:48 From Mike : have to take off for a while guys gl
11:10:58 From Simon : lol, hehe, prev days high
11:11:11 From Simon : prev 4 hrs high be nice
11:18:59 From Dennis Parmelee : xx 57.25 pfs
11:19:02 From Dennis Parmelee : if short
11:25:04 From Zeek Snodgrass : looking like bears will win the first 2 hours of rth
11:25:38 From Zeek Snodgrass :xx
11:25:43 From Zeek Snodgrass : xx
11:26:03 From Zeek Snodgrass : xxxx
11:37:38 From Zeek Snodgrass : looking for break of rth range during lunch
11:38:02 From Zeek Snodgrass : recent history is bulls reverse market up. Not sure that will happen today
11:38:03 From Dennis Parmelee : thank s zeek
11:38:37 From Dennis Parmelee : reminder 52.25/55 support xx
11:38:54 From Zeek Snodgrass : volume is miniscule and it is expiration Wednesday, xxx
11:56:06 From Dennis Parmelee : i will take break at lunch
11:56:19 From Dennis Parmelee : leave this screen up
11:56:27 From Dennis Parmelee : dont overtrade
11:56:36 From Dennis Parmelee : it is not bearish
11:56:50 From Dennis Parmelee : at best xxx
11:57:04 From Di : thats almost impossible (overtrading)
11:57:26 From Dennis Parmelee : and could still make another high
11:57:38 From Dennis Parmelee : nq has shown a tad more weakness
11:57:56 From Dennis Parmelee : so i like idea of testing support like 56/55
11:58:04 From Dennis Parmelee : lol di
11:58:07 From Dennis Parmelee : some do
11:58:12 From Dennis Parmelee : they want action
11:58:22 From Dennis Parmelee : looking for things not there
12:02:59 From Dennis Parmelee : be conservative with expectations
12:50:26 From Dennis Parmelee : bounce with trend
12:50:47 From Dennis Parmelee : note xxx
13:34:28 From Dennis Parmelee : nq bounced as well off that previous support 6110 area
13:41:27 From Dennis Parmelee : this ship is like a submarine
13:41:31 From Dennis Parmelee : at the open
13:41:37 From Dennis Parmelee : it goes underwater
13:41:48 From Dennis Parmelee : and floats back up to the surface
14:02:43 From Dennis Parmelee : just take me out and shoot me is the response from a bear… if they are still alive
14:03:03 From Zeek Snodgrass : I doubt there are any bears left
14:03:18 From Zeek Snodgrass : Just look at the open
14:03:42 From Renato : this 2562 needs to go
14:03:43 From Zeek Snodgrass : we are playing a sill game of picking up pennies in from of a steam roller
14:04:08 From Zeek Snodgrass : Next year the Central banks will be drasining liquidity for the first time in 10 years
14:04:32 From Zeek Snodgrass : so all this bot nonsense is some type of smoke screen
14:04:40 From Dennis Parmelee : agreed
14:04:44 From Dennis Parmelee : the point is
14:04:44 From Zeek Snodgrass : large longs can’t sell for fear of causing a panic
14:04:59 From Dennis Parmelee : be alive to participate short side when it happens
14:05:13 From Dennis Parmelee : profits from the long side will fund it
14:05:20 From Zeek Snodgrass : so we go through these low volume days as the clock ticks down on the Central Bank bull market
14:05:48 From Zeek Snodgrass : too bad we can’t short the Fed
14:06:14 From Renato : scalping is the way, 2-3 points YUGE! 🙂
14:06:34 From Dennis Parmelee : https://www.armstrongeconomics.com/world-news/sovereign-debt-crisis/ecb-worried-who-will-buy-government-debt-if-they-stop/
14:07:47 From Dennis Parmelee : https://www.armstrongeconomics.com/armstrongeconomics101/the-gdp-decline-post-2015-75/
14:07:56 From Dennis Parmelee : right you are renato
14:18:52 From Zeek Snodgrass : 1 tick rth range expansion so far
14:19:01 From Zeek Snodgrass : 400
14:19:40 From Dennis Parmelee : dbl toppers
14:19:44 From Dennis Parmelee : think small
14:19:49 From Dennis Parmelee : longs think small
14:19:54 From Zeek Snodgrass : it is very hard to trade a stopped clock
14:20:13 From Zeek Snodgrass : so take what you can find and be awre better days are ahead
14:20:27 From Zeek Snodgrass : humor helps
14:20:43 From Dennis Parmelee : yes
14:20:49 From Zeek Snodgrass : and another Yankee win tonight
14:21:06 From Zeek Snodgrass : odds are stcks against Yankees for this game
14:21:12 From Dennis Parmelee : i like shorts as profit taking swings
14:21:17 From Dennis Parmelee : nothing more
14:21:33 From Dennis Parmelee : yankees looked good
14:21:51 From Dennis Parmelee : offense was great
14:21:54 From Zeek Snodgrass : very tough pitcher for Astos tonight
14:24:00 From Mike : back
14:24:07 From Mike : yes NQ has been good
14:24:22 From Mike : yesterday had some very nice opps
14:25:49 From Dennis Parmelee : 2 way day
14:28:31 From Zeek Snodgrass : Beige book came out a 2pm and no one cares
14:30:27 From Dennis Parmelee : market opened today and no one cares
14:30:43 From Mike : the october that wasn’t
14:32:07 From Zeek Snodgrass : Market is totally fake
14:32:26 From Zeek Snodgrass : Fed is responsible for the ZOmbie like conditions
14:32:57 From Zeek Snodgrass : Janet hates Trump and her policies have one goal
14:34:26 From Zeek Snodgrass : never seen it like this before
14:34:45 From Zeek Snodgrass : we should be having 15 pt range days
14:34:58 From Zeek Snodgrass : VIX should be about 2 given price level and limited ranges
14:35:21 From Dennis Parmelee : reversion to the mean will occur
14:35:26 From Zeek Snodgrass : like 5% passbook savings
14:36:12 From Dennis Parmelee : yes good example
14:37:02 From Zeek Snodgrass : I read that Illinois is hopeless. 1/3 of budget consumed by retire benefits
14:37:22 From Dennis Parmelee : armstrong had article on that
14:37:45 From Zeek Snodgrass : No one wants the responsibility and obligations
14:37:48 From CS : that was a great article
14:38:13 From CS : i’m going to be living in chicago, indiana or chicago, wisconsin
14:38:29 From CS : lol
14:39:04 From CS : and he gives analysis everyday on a load of markets
14:39:24 From Dennis Parmelee : https://www.armstrongeconomics.com/world-news/sovereign-debt-crisis/its-time-to-turn-out-the-lights-in-illinois-sell-all-government-debt-there-before-its-too-late/
14:40:12 From Zeek Snodgrass : cash will be only safe investment when this all comes unravelled
14:40:43 From Dennis Parmelee : https://www.armstrongeconomics.com/world-news/sovereign-debt-crisis/illinois-should-just-be-dissolved-as-the-solution/
14:41:13 From Dennis Parmelee : But before we run out of the essentials, let’s finally admit that after decade upon decade of taxing and spending and borrowing, Illinois has finally run out of other people’s money.”
14:45:23 From Zeek Snodgrass : that is the problem with socialism
14:46:04 From Zeek Snodgrass : there has to be an incumbent idea among all people that work is neccessary and that the days of someone else paying for their lifestyle have ended
14:46:18 From Zeek Snodgrass : I could get the budget in order in less than a week
14:47:49 From Zeek Snodgrass : start with the idea it takes only one person to fill out a form and process it
14:48:00 From Zeek Snodgrass : that would eliminate 75% of government jobs
14:48:19 From Dennis Parmelee : lol
14:48:24 From Zeek Snodgrass : Simplify regulation
14:48:38 From Zeek Snodgrass : that would bring 20% more jobs to the state
14:48:43 From Dennis Parmelee : but what do we do when we need to change a lightbulb, huh?
14:48:57 From Zeek Snodgrass : once all the cuts are made, pay off the debt and then reduce taxes
14:49:01 From Dennis Parmelee : need at least 3 people
14:49:25 From Dennis Parmelee : 1 congress gets 1 term
14:49:41 From Dennis Parmelee : 2 they get same benefits as john q public
14:50:07 From Dennis Parmelee : 3 1 line item, one vote. no pork attached
14:50:11 From Zeek Snodgrass : coudl be done in less than 10 years and maybe 5 if there were a complete turnover in teh legislative branch
14:50:36 From Dennis Parmelee : 4 no kicking can down the road
14:50:38 From Zeek Snodgrass : tijme for me to go
14:50:40 From Dennis Parmelee : pay as we go
14:50:43 From Zeek Snodgrass : thanks for your time
14:50:46 From Zeek Snodgrass : cya tomorrow
14:51:01 From Renato : thanks Zeek
14:51:04 From Simon : laters Zeek… thx
14:51:05 From Mike : thanks Z
14:51:08 From CS : thanx Zeek
14:51:25 From Di : thanks Zeek good banter and great ideas
14:52:35 From Simon : omg, amortisation and accruals
14:54:01 From Simon : imagine that, real accounting
14:56:24 From Simon : you borrow from the future not the past. You enjoy the past investments today not the future. 😀 actuarials used in convo, love it 🙂
14:57:07 From Simon : Simon is an Actuary trying to be a Trader 🙂
14:58:27 From Simon : Thanks Dennis, glad I could be at PC to hear your opinions, very insightful
15:19:28 From Dennis Parmelee : 1 hour to go
15:28:21 From Dennis Parmelee : 63.75 still not hit
15:28:30 From Dennis Parmelee : reminder of the model
15:28:37 From Dennis Parmelee 😡
15:28:48 From Dennis Parmelee : x
15:29:09 From Dennis Parmelee : x
15:29:32 From Dennis Parmelee : we are in x
15:29:45 From Dennis Parmelee : and x
15:30:06 From Dennis Parmelee : using x
15:30:32 From Dennis Parmelee : i am trying to give structure to our insights
15:37:48 From Mike : thanks dennis
15:39:40 From Renato : thank you very much, Dennis!
15:39:43 From Renato : GN ALL
15:39:49 From Dennis Parmelee : gn renato
15:39:56 From Dennis Parmelee : NHOC possible
15:39:59 From Mike : gn renato
15:40:10 From Renato : GN Mike
15:40:20 From Renato : GN Dennis
15:48:51 From Dennis Parmelee : key is 59.75
15:56:31 From Mike : really has been as bad as i can remember
15:56:52 From Simon : AND we WILL keep you opening the room until you talk us through a 40 pts down day 😀
15:57:12 From Simon : and that isn’t really a down day
15:57:15 From Simon : exactly
15:57:50 From Mike : i remember some of those
15:57:55 From Simon : 100 pts on 1500 total
15:58:05 From Simon : not 2500
16:00:17 From Simon : glad to make you laugh before your swim. Thx for your time. each day of higher low makes the next more ‘potentially’ interesting
16:00:37 From Mike : good night all, thanks E
16:00:39 From Simon : I’ve stopped anticapating now
16:00:45 From Mike : taking off now
16:00:50 From Simon : laters Mike
16:01:01 From CS : thanks E
16:01:43 From Simon : mouse down 🙂
16:02:09 From Dennis Parmelee : gn
