Is this the Market Top?

Is this the Market Top?

We've had some interesting discussions in our forums about the market topping. Garret is a long time Gann trader and showed us his charts that predicted the SPX topping on June 23 at 1959. The peak yesterday was 1968.17, one day off from Garret's prediction....
SPX Jul 17 Broken Wing Butterfly

SPX Jul 17 Broken Wing Butterfly

Time for a new trade in SPX. Another broken wing butterfly trade expiring on Jul 17th with 28 days to expiration. The eight lot of puts are at 1950/1930/1870. The 1930's were about a -22 delta. The trade was put on with a little smaller credit than I like, but it's...
Trading Goals

Trading Goals

John Locke published a good article on trading goals earlier today. Trader's commonly ask “what can I make each month trading?” Can I make $1000 per month? $5000 per month? What's my number? This is really a question about what monthly yield or return want...
SPX Jul 11 Broken Wing Butterfly Trade Started

SPX Jul 11 Broken Wing Butterfly Trade Started

I put a new SPX Broken Wing Butterfly trade on yesterday with 29 days to expiration. It's an eight lot at 1910/1890/1830 with a put debit spread at 1910/1890 for a next credit of $926 on $31,574 of Reg T margin. That would be +2.93% in 29 days if held to expiration...
Website Update: New Calendars Added

Website Update: New Calendars Added

We added two calendars to help you plan your trading: Earnings Calendar Economic Events Calendar The Economic Events Calendar is for U.S. economic events only. If you trade currencies, you'll want to use an international calendar that includes events in the countries...