<p>I guess I will sit back and wait and do nothing. This deal/no deal aspect makes me want to go away and come back in 2 weeks. I think there is a good chance for a pretty good relief rally (with a deal of course) plus the tendency for the market to trade up on the first trading day of the year, but I am not going to position for it. There is so much liquidity in the system. What would you do if you were a fund manager on the first day of the new year? I think most will be buying. That is their job after all. :D</p>
<p>Can you imagine trading milk futures today? If there were milk futures… they don’t have milk futures do they?</p>
<p>The fund managers typically have to remain at some percentage invested - pretty tough job in a falling market - you have to find the stuff that drops the least.</p>
<p>Well doct, sounds like you are long then. Did you trade the puts for a credit?
Did you have a good vacation?</p>
<p>NJres, it is new years eve, so I don’t expect an answer immediately.
When you were trading bonds, did you try to protect yourself from interest rate risk? If so, how did you or your firm do this?</p>
<p>Well I’m long at 139, 138, 135,133. The trades were even. I couldn’t get a credit with selling puts that I felt comfortable with. I’m right now significantly more comfortable going long. My vacation was great.</p>
<p>I don’t know your ratios, I am assuming you have the same size position in all those spy option series, but with the 128 calls, don’t those calls really make you long?</p>
<p>Between the put position and the 128 call…with the market up today didn’t you make money in the spy options today?</p>
<p>Yes I made money today. It was my best day in a long time even though I had sold quite a bit of stuff when I went on vacation. I bought the 142, 139 put spread and sold 135 and I bought the 141,138 put spread and sold 133’s. The ratio was 1:1:1 or 1:2 (bought 1 put and sold 2 puts).</p>
<p>For once I agree with dstark. Taxes need to go up for everyone and spending needs to be cut substantially. The economy may go into recession in the short run but it will be must stronger in the long run, not to mention that our children won’t have to pay for as much of the cost of our government as is planned today.</p>
<p>I don’t think that Dstark would agree with your reasons. Many people cannot afford to pay more in taxes. Many are barely living from day to day.</p>
<p>I think most older people should worry more about their own financial situation instead of their children or grandchildren. A lot of older people I know don’t have a clue in what sorry shape they’re in going forward.</p>
<p>As of now, Taxes are going up for a majority of taxpayers. The payroll tax deduction looks to be over. That affects about 75 percent of the taxpayers.</p>
<p>Raising rates for taxpayers with incomes above 400,000 to 450,000 affects less than 1 percent of taxpayers.</p>
<p>I would like to see defense cut…</p>
<p>I think the House is going to vote for the senate bill.</p>
<p>“I think most older people should worry more about their own financial situation instead of their children or grandchildren. A lot of older people I know don’t have a clue in what sorry shape they’re in going forward.”</p>
<p>A friend of mine’s wife called me a couple of months ago. The call was disturbing. She is not working. Her husband is not working. They have nothing. And she was complaining that her husband didn’t want to look at her plans to take care of their grown up kids. She can’t take care of herself and she is talking about taking care of her kids…</p>
<p>Yeah I know people who are talking about their grandchildren’s future and saying they’re going to have to work until they die because they don’t have anything. For some reason, the concept of getting sick and not being able to work is a foreign concept.</p>
<p>“spending needs to be cut substantially. The economy may go into recession in the short run but it will be must stronger in the long run, not to mention that our children won’t have to pay for as much of the cost of our government as is planned today.”</p>
<p>This is a fallacy. Show me where this is true…</p>
<p>I spent new year’s eve with one of my oldest friends. He is 80. He is a lawyer. He is in great shape for 80. He can still run half marathons. But he is starting to go…and I don’t know too many 80 year olds like him.</p>
<p>I asked my 82 year old mother in law, who used to be very fit, how many 80 year olds does she know that are in good physical shape? That aren’t on medications? She said, “Nobody”. I am sure there are some, but the odds are low.</p>
<p>My parents are clueless. They don’t listen. They are spending too much money. I have my own obligations. I can’t keep saving people. I look at my brothers and sister, and I don’t see a lot of help coming from them.</p>