Hi Iqbal--hope that you are doing well
Given our recent disagreements, I would like to start my first posting to you with my agreement on something that you stated
>>Never ever go in options beyond 5% of your worth for atleast two years<<
I would add one caveat, given that options trading is risky--one should not risk any funds trading options which one cannot afford to lose.
Now help me understand something that you posted--you said that
>>The down side is 890 or 6900 on the DOW
Now if we pierce that level, would that mean that you will turn bearish? Is it a close below that level or an intra-day piercing of that level?? What if one of the indices breaks below that level and the other does not? With regard to the 890 level -- I assume that you are referring to the SPX as opposed to the futures??
Also, I noticed on another post that you mentioned that if the SPZ declined below 935, you would feel that there may be more downside -- if I am right in this quote, are you looking at this intra-day or on a closing basis? Also, is this a level that would change each day or any other time period--I ask you this because, my signal for the futures changes each day depending on the previous days price action.
Iqbal, I am sure that in responding to these questions, you may be concerned that I am likely to throw it back at you later. This is in part true--though I would rather that it not be thought of as throwing it back at you. I prefer that it be viewed as a situation where I may well ask you later if you change your mind, if these support levels are broken why you did so?
If, given all that has occurred, you are not comfortable responding to this post that is fine. |
