IrishTxAggie said:

---

RH automatically sells options if you don't have the equity in the last hour. Not sure how it will work together given their glitches, but you shouldn't lose on them.

---

I wondered about that, but they were a lot higher, earlier in the day I thought.

Not if they expire out of the money right? My strike is 313

leoj said:

---

Ranger222 said:

---

If you played the bounce to retest the 200 MA, you're about to be screwed big time by Robinhood. I think we will see end of day selling.

---

Going to pull the trigger much more quickly on profits, out completely if we somehow get to new daily highs.

---

Did I follow my own advice and get out once I hit a 40% gain? Nope. Took a 20% loss but at least I switched to the weekly 310 calls that made up for the losses.

Sticking to a plan and rules and staying on top of the mental part of trading is still the hardest part for me personally.

AggiePeeps06 said:

---

Not if they expire out of the money right? My strike is 313

---

The strike was for 3/2 313? If so, you wouldn't have gotten much for them anyways. You were still over four points OTM at the close. May have gotten .01-.05 at most at any point during the day.

Scratch that forgot I sold the 3/2. My position is all 3/6 expiration. 313 strike. Hopefully I still have value tomorrow even factoring in time decay but will need h the market to hold.

Stunning reversal after all of the bad coronavirus news this weekend and today.

How much of this bump was thanks to massive QE?

AggiePeeps06 said:

---

Scratch that forgot I sold the 3/2. My position is all 3/6 expiration. 313 strike. Hopefully I still have value tomorrow even factoring in time decay but will need h the market to hold.

---

Assuming we don't have a large gap down, you're better off if your plan was to sell those 313s today. The S&P went up 90 points this last hour.

What an entertaining day! Made loads of money and the WSB meltdown due to the RH crash was pure gold.

Re Robinhood: What else can you expect from a company named after the Prince of Thieves!

O'Doyle Rules said:

---

Aggiesincebirth said:

---

I think we get an announcement over the weekend that is positive. Emergency rate cut, Biden wins SC, and vaccine found or numbers down and we shoot to Mars on Monday. I don't know why but I am feeling a lot better about this weekend than I felt last weekend.

---

Emergency rate cut...such a fake economy. Our country would have the economy of Greece if we didn't always have the fed and money printer to bail us out. No moral hazard at all in any of our legislative and economic policies.

---

I had a gut feeling about today. Got lucky on calling a good Monday and unlucky that I use Robinhood for my day trading and it was out of commission all damn day.

Every knee shall bow and every tongue shall confess

My thinking is RH starts "working" after their 6pm ET AH trading closes. I can't imagine what is going to happen if it is not working by tomorrow. Rumors going around now that they've lost customer accounts and their back-up data has failed. If true....

Not sure we necessarily go higher from here. I could see us failing to get above the 27th gap down and that initiates another sell. We'll see.

Every knee shall bow and every tongue shall confess

Nearly 200 points off AH lows. A +6% move. Incredible

Every knee shall bow and every tongue shall confess

Talon2DSO said:

---

How much of this bump was thanks to massive QE?

---

This was a reaction to a possible .50 basis points cut by the fed rumor. I'll trade it but I'm not sold that they'll do that much or if or not it's a good idea.

CNBC is about to address the RH situation on Fast Money after this commercial break.

Prognightmare said:

---

Talon2DSO said:

---

How much of this bump was thanks to massive QE?

---

This was a reaction to a possible .50 basis points cut by the fed rumor. I'll trade it but I'm not sold that they'll do that much or if or not it's a good idea.

---

The fed's bullets have diminishing returns at this late stage. That much is obvious. It's like using a water pistol on a kitchen fire. Unfortunately, the market probably already expects and has priced in the cut. When it does hit the fan, we'll wish like hell we had some room and hadn't wasted bullets to prop up the longest modern expansion in history. When the fed is all out of ammo, or the ammo doesn't work that well anymore, we're all ****ED with a capital F.

Sounds like the late rally right before the bell was more about the G7 intent to intervene and throw more sugar onto the table to keep our sugar high going. Don't fight the Fed....

RSP715 said:

---

Prognightmare said:

---

Talon2DSO said:

---

How much of this bump was thanks to massive QE?

---

This was a reaction to a possible .50 basis points cut by the fed rumor. I'll trade it but I'm not sold that they'll do that much or if or not it's a good idea.

---

The fed's bullets have diminishing returns at this late stage. That much is obvious. It's like using a water pistol on a kitchen fire. Unfortunately, the market probably already expects and has priced in the cut. When it does hit the fan, we'll wish like hell we had some room and hadn't wasted bullets to prop up the longest modern expansion in history. When the fed is all out of ammo, or the ammo doesn't work that well anymore, we're all ****ED with a capital F.

---

That's the scary part to me. At ATH we should have been adjusting the rate appropriately. I know the global rates were low, but we could have been adding to the magazine using the above example.

Hence my post that I'll trade it.

Prognightmare said:

---

CNBC is about to address the RH situation on Fast Money after this commercial break.

---

What did they say?

Don't think they've covered it yet, but I've been on the phone.

IrishTxAggie said:

---

Prognightmare said:

---

CNBC is about to address the RH situation on Fast Money after this commercial break.

---

What did they say?

---

It's only been 13 minutes. Still in commercial break

something something, cilias, something something copper fit

Not sure if fake news, but, it's going around twitter that leap year/Feb 29th wasn't coded properly in the Robinhood system and that it caused it to break. Not sure why that would have taken all day to fixed (is it even fixed yet??).

Got to think RH is dead soon. Biggest on day point gain in history and they were totally offline. Nuts. Feel real bad for people that lost out on big sums over this.

Coming up next

IrishTxAggie said:

---

Prognightmare said:

---

CNBC is about to address the RH situation on Fast Money after this commercial break.

---

What did they say?

---

They just said read what RH put out as a statement today, but one guy on FM basically said that RH could be bent over by regulators and today may have been fatal for the company.

If anyone is in RH still, I'd get out immediately. They will lose a big chunk of their accounts and you don't want to be one of the last ones. JMO.

Ag13 said:

---

Not sure if fake news, but, it's going around twitter that leap year/Feb 29th wasn't coded properly in the Robinhood system and that it caused it to break. Not sure why that would have taken all day to fixed (is it even fixed yet??).

Got to think RH is dead soon. Biggest on day point gain in history and they were totally offline. Nuts. Feel real bad for people that lost out on big sums over this.

---

Amazing.

khaos288 said:

---

Ag13 said:

---

Not sure if fake news, but, it's going around twitter that leap year/Feb 29th wasn't coded properly in the Robinhood system and that it caused it to break. Not sure why that would have taken all day to fixed (is it even fixed yet??).

Got to think RH is dead soon. Biggest on day point game in history and they were totally offline. Nuts. Feel real bad for people that lost out on big sums over this.

---

feb 29 fixes can take weeks to plan an implement in huge systems. Our corporation literally freezes changes in production during the week of.

Wouldn't be shocked if it's true and was unable to be fixed in time.

---

You serious Clark? What are yall on? An O/S390?