Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Tuesday, December 02, 2008
Covered one
I just bought back one unit of the e-minis at 845.00. I don't like the fact that the market is spending so much time above 840 without any sign of a rejection.
Really, when you think about it, one futures SP contract is only worth $42K total at this price, that's all you would lose if it goes down to zero. And I cannot imagine it going down to zero. Even if it drops to half its current value, down to 420ish, the risk is only $21K, it's really nothing compared to the upside potential. And if we get down the 420ish, heck, once could just buy a few more, I cannot see how anyone could lose, provided their horizon is a bit longer term. This may be the crash of the century, but it's also the opportunity of the century, it's the nervous nellies who will miss out.
5 comments:
Hi Carl,
I took one long at 844.00.
Thanks.
Kindest regards,
PM
Hi Carl,
Really, when you think about it, one futures SP contract is only worth $42K total at this price, that's all you would lose if it goes down to zero. And I cannot imagine it going down to zero. Even if it drops to half its current value, down to 420ish, the risk is only $21K, it's really nothing compared to the upside potential. And if we get down the 420ish, heck, once could just buy a few more, I cannot see how anyone could lose, provided their horizon is a bit longer term. This may be the crash of the century, but it's also the opportunity of the century, it's the nervous nellies who will miss out.
Thanks.
Kindest regards,
PM
Hey doc, I appreciate your posts. Keep up the good work.
Carl
Tough trade....tough business; you can be right and still lose money.
It looks like a sell off now; wrong to say sell now stop on new high of the day?
Dear pm and yours is the comment of the century!!! Regards
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