Good news of containment of Chinese virus and stabilization of economy, comes with worse news of Fed allowing the market to come back in and price assets. Realizing it was a major politicized overaction won't bring back jobs lost to demand destruction, so the Fed put is likely here to stay for awhile.
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Last: 3 min ago by Philip J Fry
I'm more of a moderate right now. I'm not leaning one side or the other. I could see us going to 3500 and I could see us going back to 2190. For now I'm just trading what is in front of me with day trades and staying more in cash than usual
I don't necessarily like what the fed has been doing, but I'm not going to sit there and throw money at betting against them.
I don't necessarily like what the fed has been doing, but I'm not going to sit there and throw money at betting against them.
thirdcoast said:
Good news of containment of Chinese virus and stabilization of economy, comes with worse news of Fed allowing the market to come back in and price assets. Realizing it was a major politicized overaction won't bring back jobs lost to demand destruction, so the Fed put is likely here to stay for awhile.
It's here to stay forever. 2018-2020 shows you the fed cannot reduce its balance sheet or raise rates.
Yeah I get that. For me I'm not trying to fight the fed with puts and shorts but instead I keep waiting for dips to buy that never seem to show up. When things start going up I jump in late and lose money soon thereafter (when it quickly drops back down). Pretty difficult for a newb like myself. The patterns are nonsensical these days.
You're probably right. I made money on the way down, slightly under water at the moment on a negative bet, but waiting to see what happens. I'm still 65% permanent long, many of those positions originated from late 2008 - late 2009. I don't have the schedule flexibility to trade options like most on this thread. I would have to be really convicted to do it.
Read it correctly now lol
Well something just happened or came out, checked /Es right before going to bed and it's a straight line up on the 5min with huge volume.
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we started using it at an e&p company I used to work for and it seemed to me to be nothing more than a flashy version of MS Project with goofy terminology. My understanding was that it was designed/popular as a software development project management system but we were using it for well planning, and for some reason had to stick with the goofy software/euro names for everything. Maybe it was just our implementation. Oh also our IT dept who had shoved it down our throats seemed unable to do any config ourselves, we had to call in some consulting firm out of Austin for everything (who were good, by the way...just didn't seem necessary). This was also like 5 years ago so there's that.leoj said:PoopyPullup said:
Let me know when it's time to buy puts on team, jira is not my favorite software
Would love to hear more, not something I have any experience with.
Wow. As someone in IT that just sounds like a horrible recommendation by your IT department. I'm sorry.
Dr. Horrible said:
Wow. As someone in IT that just sounds like a horrible recommendation by your IT department. I'm sorry.
Username checks out.
This is why I said I don't know short term which direction we head, so Put/Call pays. At least one of you took the rally late and sold the Put side. You win this one. That's Greater reward for taking the risk. Love that!
Watch WDC to breakout for a run, as a late bloomer possibility.
One model I have developed, that has been more accurate than not projected this move as a mirror retest of highs similar to the retest of lows.
We never reached retest because buyers came in taking the pullback from low, post initial bottom bounce, to recent top. So watch to see if any push upward hits firm resistance and shade to the downside. I'd be taking profits not taken premarket or early on at that point.
Fishing this morning so keep the markets going!
Watch WDC to breakout for a run, as a late bloomer possibility.
One model I have developed, that has been more accurate than not projected this move as a mirror retest of highs similar to the retest of lows.
We never reached retest because buyers came in taking the pullback from low, post initial bottom bounce, to recent top. So watch to see if any push upward hits firm resistance and shade to the downside. I'd be taking profits not taken premarket or early on at that point.
Fishing this morning so keep the markets going!
Anyone else seeing the head and shoulders pattern on Nasdaq and S&P over two weeks. I'm enjoying today's gains but getting a little more cautious as time moves forward. Sorry I'm terrible at images on phone. I'm sure someone can put an image for me.
First shoulder done
Head done
Second shoulder on way up
Edit - found video for it.
First shoulder done
Head done
Second shoulder on way up
Edit - found video for it.
What would you say are the key SPY resistance levels for today?
oldarmy1 said:
This is why I said I don't know short term which direction we head, so Put/Call pays. At least one of you took the rally late and sold the Put side. You win this one. That's Greater reward for taking the risk. Love that!
Watch WDC to breakout for a run, as a late bloomer possibility.
One model I have developed, that has been more accurate than not projected this move as a mirror retest of highs similar to the retest of lows.
We never reached retest because buyers came in taking the pullback from low, post initial bottom bounce, to recent top. So watch to see if any push upward hits firm resistance and shade to the downside. I'd be taking profits not taken premarket or early on at that point.
Fishing this morning so keep the markets going!
Good luck! Leave some krill out there for the other whales.
287 would be the inflection point for the 2nd shoulder if true (which we're basically at premarket)Carlo4 said:
Anyone else seeing the head and shoulders pattern on Nasdaq and S&P over two weeks. I'm enjoying today's gains but getting a little more cautious as time moves forward. Sorry I'm terrible at images on phone. I'm sure someone can put an image for me.
First shoulder done
Head done
Second shoulder on way up
Edit - found video for it.
Cheddar flow paid for itself and then some with MSFT 180C weeklies. Dang.
ETA- I was watching it already because of a pivot. Cheddar just showed call after call sweep.
ETA- I was watching it already because of a pivot. Cheddar just showed call after call sweep.
VST beat on revenue and maintained guidance. I think I mentioned it ~$13 on here.
$19.25 pre-market, hit $20.23 so far this morning
I've always been trading CNP (Centerpoint) $15-$18 over the last month....$27 prior to the crash.
$19.25 pre-market, hit $20.23 so far this morning
I've always been trading CNP (Centerpoint) $15-$18 over the last month....$27 prior to the crash.
I needed this bounce. Going to give a chance to dump some of my RDSB I'm way to heavy in it after the dividend cut and who knows whats next
They announced the sale of their upstream assets in Pennsylvania last night so should get a bump for that today
SPY breakout.
287.50ish is also the model-t of the 295 to 280 pull back. 295 was also the 61.8% fib level back to the original 50% level at 280. About as easy as could be.gougler08 said:287 would be the inflection point for the 2nd shoulder if true (which we're basically at premarket)Carlo4 said:
Anyone else seeing the head and shoulders pattern on Nasdaq and S&P over two weeks. I'm enjoying today's gains but getting a little more cautious as time moves forward. Sorry I'm terrible at images on phone. I'm sure someone can put an image for me.
First shoulder done
Head done
Second shoulder on way up
Edit - found video for it.
DIS taking off
Thoughts on those 5/8 DIS 95p OA took the other day? DIS is running big.
Pretty sure they were just a hedge right?AgEng06 said:
Thoughts on those 5/8 DIS 95p OA took the other day? DIS is running big.
ZYXI with another double digit gain so far today. I hope I'm not the only one enjoying this. $20.60 and 12% gain so far this morning.
You guys want something better than coffee?
Accidentally put an order in for 40 instead of 4 contracts of a weekly option. Thank goodness it flashed up.
Accidentally put an order in for 40 instead of 4 contracts of a weekly option. Thank goodness it flashed up.
earning tonight right?gougler08 said:Pretty sure they were just a hedge right?AgEng06 said:
Thoughts on those 5/8 DIS 95p OA took the other day? DIS is running big.
I don't know how they can be good
Probably so. I only bought 1, but my DIS position is cancelling out. Just curious if others think we'll see a good drop tonight after ER.
Disclaimer, I know nothing.
I bought a $105 call yesterday and $95 put all 5/8. I expected a run up to earnings today and I will sell the call and then hold the put expecting a pull back. I just don't see how DIS does well with this shutdown.
I bought a $105 call yesterday and $95 put all 5/8. I expected a run up to earnings today and I will sell the call and then hold the put expecting a pull back. I just don't see how DIS does well with this shutdown.
LPSN? I am little over break even. Still on the right path?
I'm not betting against the mouse. Could easily see earnings not be as bad as expected and the stock shoot up.
Thanks gougler and ragoo for responding! Looks like the peak for the second shoulder on the daily would be around 2875. That would mean the rally today would drop about a percent or so from here and then be a holding pattern for a few days potentially before dropping down.
Gonna reitterate, I feel like Disney is one of the ones that got beat up bad and will likely over produce; however, that guidance will DEFINITELY get pulled going forward and that's been a stock killer. I have a long position on Disney so I'll likely hedge with a put as protection but I feel like this one will have decent 1Q results, but with a major warning about 2Q and possibly 3Q numbers.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***
B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
Wow! Did you immediately sell the other 36 or let some ride?khaos288 said:
You guys want something better than coffee?
Accidentally put an order in for 40 instead of 4 contracts of a weekly option. Thank goodness it flashed up.