Met with the Green Panda Markets Wizard tonight (watching Mon Night Football and the Vikings get whipped by Seattle) while enjoying some great cigars (The Ashton - San Cristobal Rep was in with a Buy 5 get one Free Deal) any way he mentioned he picked up around 340 SPXW 2600 Options when we topped up above 2800 last week at 2813(Chart Follows). He also mentioned he saw 4X to 8X on his various buys for a nice Christmas side Bonus for his own account of $600K+ - I only had 1.2X results with my SPY $220 and $200 Puts... Last week was his second best week in his 5 years at his current Global Institution. Pissed they won't pay his 2018 Q4 bonus till next June - Too afraid these huge bonuses just encourage folks to retire early or set up their own trading rooms!
https://www.tradingview.com/chart/ESZ201...st-7-Days/
On his little LG Smart Phone he looked at the past 7 Days action updated with today and mentioned last week topped 2800 was a major shorts psychological level and proceeded to trend downward then consolidate at 2700 then 2600 retesting 2700 then dropping below 2600 to 2583 today. Looked at the 30Minute and 240 Minute ESZ2018 S&P Futures and SPX S&P Cash charts and determined that the 30 Min 200 Moving Average - a very strong resistance level - decreasing rapidly to 2669 tonight will be around 2660 at Weds around noon as the target high for this week and then there will be a series of Impulsing waves down to 2540 for approx 210 points on the ESZ and 21 points of SPY PUTs Capture.
I sold all my SPY 200 and 220 Jan and Feb Puts today 2585/90 (now 90% in Cash) for a nice profit (1.2X as mentioned) bought about four tracking SPY 280 Calls around 2590 to focus on some beer money for run back up to 2660 - then this week's planned trade is to buy a couple hundred Feb/March SPY 250 Puts to capture the Impulse Run back down to 2540/2400. Then continue to trade ABC waves down and 1-5 Up Trend waves till we touch 2400, 2300, 2200 and possibly 2000 to complete SuperCycle wave 4 Down and turn up with SuperCycle Wave 5 to a target of 3400 Late Next year 2019 and into 2020 just in Time for Trumps likely to be viciously hard fought 2020 reelection. At least the SuperCycle Wave 4 dip will be done and we will be climbing back up to the top of Supercycle Wave 5 as mentioned.
Dueling ABC Intermediate Sub Waves Down Chart targets as shared previously:
https://www.tradingview.com/chart/ESZ201...g-C-waves/
NOTE: These discussions and any associated thread posts are not intended as investment advice in any way shape or form and is mentioned for informational purposes only now that we are entering a Major 40 Year S&P Supercycle Wave 3 to 4 Top Turning Reversal. Seek competent professional advice to determine your risk tolerance before trading Options or Futures contracts. Never invest more than you can afford to lose.
https://www.tradingview.com/chart/ESZ201...st-7-Days/
On his little LG Smart Phone he looked at the past 7 Days action updated with today and mentioned last week topped 2800 was a major shorts psychological level and proceeded to trend downward then consolidate at 2700 then 2600 retesting 2700 then dropping below 2600 to 2583 today. Looked at the 30Minute and 240 Minute ESZ2018 S&P Futures and SPX S&P Cash charts and determined that the 30 Min 200 Moving Average - a very strong resistance level - decreasing rapidly to 2669 tonight will be around 2660 at Weds around noon as the target high for this week and then there will be a series of Impulsing waves down to 2540 for approx 210 points on the ESZ and 21 points of SPY PUTs Capture.
I sold all my SPY 200 and 220 Jan and Feb Puts today 2585/90 (now 90% in Cash) for a nice profit (1.2X as mentioned) bought about four tracking SPY 280 Calls around 2590 to focus on some beer money for run back up to 2660 - then this week's planned trade is to buy a couple hundred Feb/March SPY 250 Puts to capture the Impulse Run back down to 2540/2400. Then continue to trade ABC waves down and 1-5 Up Trend waves till we touch 2400, 2300, 2200 and possibly 2000 to complete SuperCycle wave 4 Down and turn up with SuperCycle Wave 5 to a target of 3400 Late Next year 2019 and into 2020 just in Time for Trumps likely to be viciously hard fought 2020 reelection. At least the SuperCycle Wave 4 dip will be done and we will be climbing back up to the top of Supercycle Wave 5 as mentioned.
Dueling ABC Intermediate Sub Waves Down Chart targets as shared previously:
https://www.tradingview.com/chart/ESZ201...g-C-waves/
NOTE: These discussions and any associated thread posts are not intended as investment advice in any way shape or form and is mentioned for informational purposes only now that we are entering a Major 40 Year S&P Supercycle Wave 3 to 4 Top Turning Reversal. Seek competent professional advice to determine your risk tolerance before trading Options or Futures contracts. Never invest more than you can afford to lose.