<p>Well I couldn’t help myself and bought some more 1/18 spy 130 calls and 160 - 150 put spreads</p>
<p>Before you know it, you will be posting how a 10 percent correction wont happen. :)</p>
<p>I am just teasing. </p>
<p>You get your upside . You get some leverage. Some protection on the downside. As a tradeoff you are going to lose 2 dividends. You forget to exercise anyway. :)</p>
<p>So that is rather cool about the guy using his phone and IPAD, though we have been given IPADs to replace paper charts, so that isn’t unusual. Plus, many pilots fly VFR with no radio contact, and don’t know how to use their instruments, so they are going into airfields using non-tower ops procedures, and finding the airports using their maps and looking outside. Not being able to notify the tower you are coming is not that uncommon for smaller airfields, you just follow lost comm procedures. </p>
<p>I always wonder if my cell phone would even work at a lower altitude. He was lucky that his did.</p>
<p>The leverage more than makes up for the dividend loss based on the number of options I can buy vs stock. Right now my breakeven point is 164.6 which is a lot higher than I want but right now I’ve only bought ~10% of the final position I want to have if we have a significant correction. I therefore expect that breakeven to drop and if the drop is significant enough I won’t even bother with put spreads.</p>
<p>Doct, and how high is spy going to rise before you close out the position?</p>
<p>170?
175?
180?
???</p>
<p>I’m hoping for a 10% correction from the peak 168 - 169 a month ago and that it gets back to that level by january.</p>
<p>That move is definitely possible. </p>
<p>Edit… I have to change that… You are looking for a return of 50 to 90 percent.</p>
<p>That is pretty good. :)</p>
<p>Good luck…
Are you going to have bids in while you are gone?</p>
<p>“Stocks rallied for a second day on Wednesday, recouping some recent losses on reduced concern that the Federal Reserve will begin to withdraw its stimulus in the near future.”</p>
<p>[Wall</a> St. climbs as GDP data eases fear of Fed pullback - Yahoo! Finance](<a href=“http://finance.yahoo.com/news/stock-futures-rise-adding-tuesday-112221383.html;_ylt=Ap3qGfERdtV07Xm0_4vNbQKiuYdG;_ylu=X3oDMTN1ajE2Mmw1BG1pdANGaW5hbmNlIEZQIE1lZ2F0cm9uIDIEcGtnAzY4MzVlODMwLTI4NWUtMzU4NS04Mzg3LTcwY2FjMTVhYmI2YwRwb3MDMQRzZWMDbWVnYXRyb24EdmVyA2NkNzIxZWUwLWRlYTMtMTFlMi1iZmRlLWQzZDU4MDliYjY1OA--;_ylg=X3oDMTFkcW51ZGliBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3BtaA--;_ylv=3]Wall”>http://finance.yahoo.com/news/stock-futures-rise-adding-tuesday-112221383.html;_ylt=Ap3qGfERdtV07Xm0_4vNbQKiuYdG;_ylu=X3oDMTN1ajE2Mmw1BG1pdANGaW5hbmNlIEZQIE1lZ2F0cm9uIDIEcGtnAzY4MzVlODMwLTI4NWUtMzU4NS04Mzg3LTcwY2FjMTVhYmI2YwRwb3MDMQRzZWMDbWVnYXRyb24EdmVyA2NkNzIxZWUwLWRlYTMtMTFlMi1iZmRlLWQzZDU4MDliYjY1OA--;_ylg=X3oDMTFkcW51ZGliBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3BtaA--;_ylv=3)</p>
<p>^^Pretty much nothing has changed. Total panic selling, now everything seems bright. This just doesn’t make sense.</p>
<p>That’s what you get in a manipulated market.</p>
<p>I wrote what happened in post 8262. That post wasnt an opinion. ;)</p>
<p>
Look at the huge volume puke at the last minute of SPY, IWM, XLF, QQQ.</p>
<p>Last minute when?</p>
<p>I’m referring to the 5 minute chart today. Sorry for the confusion.</p>
<p>And what did you see because of this volume puke?</p>
<p>Definitely not a bullish sentiment. I just don’t want people stepping into a possible bull trap.</p>
<p>Ok…</p>
<p>Edit… Ok.</p>
<p>[Pros</a> ‘Nibbling at Edges’ of Stock Market - CNBC](<a href=“http://video.cnbc.com/gallery/?play=1&video=3000178806]Pros”>http://video.cnbc.com/gallery/?play=1&video=3000178806)</p>
<p>well who knows?</p>
<p>Cant see the video.</p>
<p>People who make the decisions and people that see the order flow know. </p>
<p>One reason people pay for order flow. People arent buying order flow because of the kindness of their hearts. </p>
<p>Yeah… Some people know.</p>
<p>We do not have an equal opportunity marketplace.</p>
<p>Most of the guys who talk on tv dont know.</p>
<p>[Don?t</a> Panic as Bond Market Ship Not Sinking, Pimco?s Gross Says - Bloomberg](<a href=“Bloomberg - Are you a robot?”>Bloomberg - Are you a robot?)</p>
<p>"Bond yields and risk spreads were too low two months ago and global markets that were too leveraged are now reducing risk, according to Bill Gross, manager of the worlds largest mutual fund at Pacific Investment Management Co.</p>
<p>Grosss $285 billion Pimco Total Return Fund (PTTRX) led declines among the most-popular bond mutual funds earlier this month after the Federal Reserve sparked a global selloff in bonds by indicating it may start reducing asset purchases known as quantitative easing, or QE.</p>
<p>In trying to be specific about which conditions would prompt a tapering of QE, the Fed tilted overrisked investors to one side of an overloaded and overlevered boat, Gross said in his July commentary titled The Tipping Point, posted on Newport Beach, California-based Pimcos website. “Don’t panic,” he wrote."</p>
<p>[Bill</a> Gross MD of PIMCO on the Tipping Point](<a href=“http://www.valuewalk.com/2013/06/bill-gross-tipping-point/]Bill”>Bill Gross MD Of PIMCO On The Tipping Point)</p>