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McInnis 03
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OverSeas AG said:

oldarmy1 said:

fightintxag13 said:

Answer: Darvis Box
Technically you're both correct, although I was referencing the Darvas (correct spelling and I use both spelling time to time - no offense to Darvas) Box that is now forming. What this box gives us again is a clear technical direction once it breaks because the bears have said "no further shall you go up" and the bulls have said "no lower shall you go". Well at some point, as we all know, somethings gotta give between those two paradigms.


you know the interesting things about Darvas was that he was a dancer. And he used to manually plot these things once a week when he got weekly stock prices. Then he would call his broker to make the trade.


What he did was identify the 52 week high. Then if the next three candles (dailies) were below the 52 Week high, he would begin monitoring to see if the pattern was there. Once it came back to the 52 week high, he would then wait two to three more candles to see if there was a trend and that was where he would enter.

This was apparently done back in the 1930s.

Just found the history of this thing interesting. Been trying to figure out how to set that up for a scanner in trend spider, not quite there yet.


And that dancer used his boxes to turn $10k into $2MM in 18 months.
***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
oldarmy1
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deadbq03 said:

oldarmy1 said:

McInnis 03 said:

oldarmy1 said:

See how shorting against your calls makes you more than the premium? $283.52 - $281.49 = +$2000 gained and I just covered the short. Still own the calls.
Serious question:
When you're doing this, are you shorting 100 shares at a time? Are you selling $28,352 short per call you have? If so, this just isn't something most of us can really execute, at least not on SPY for certain.
I'm doing 1000 shares per 10, so yes 100/call. If not enough capital to free flow then at least sell half the calls when we hit above $283.50 and not potentially miss excellent premium gain for the risk of holding the call side.

OR sell all the calls - especially if building capital in account. A rarer double sided win on put/call is nothing to sneeze at
So for us poors, and/or folks trading in an IRA who can't short... would it be possible to use SPXS in this same manner?
Only options. It doesn't move enough during phases like the last 4 days. Just look at it the last 4 days. All this movement and its tight range. Break the box and THEN it runs. It's down near lows so a $12 June 19 call would be my buy. Haven't checked but if you look at volume today I'll wager a snickers those are either #1 or close 2nd in traded option strikes for June 19
IrishTxAggie
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2835 is the number to push through
KT 90
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AgEng06 said:

Awesome, thank you for the explanation!

Ditto... appreciate the detailed info. Saved some of it to read in more detail later when I have a little more time.


oldarmy1
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Well yeah I shorted that again right at $283.30. Convince me - hurt that short so that longs may live!!!!
oldarmy1
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Covered 50% at $282.70 as described last time.
jeromePOWell
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touching the top of the box let's go, need some volume buyers here
OverSeas AG
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Every knee shall bow and every tongue shall confess
Ranger222
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just going to long APT
oldarmy1
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jeromePOWell said:

touching the top of the box let's go, need some volume buyers here
Flag forming. Odds increasing for a breakout run
Boat Shoes
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Alright, if we're at the top of the box now, do we now buy the 6/19 SPY calls? $260 strike? And do you set a stop order once executed? Learning not how to take 100% loss on my hedges.
Aggie_2463
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oldarmy1 said:

jeromePOWell said:

touching the top of the box let's go, need some volume buyers here
Flag forming. Odds increasing for a breakout run
Soo go long, buy now!?!?
oldarmy1
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Boat Shoes said:

Alright, if we're at the top of the box now, do we now buy the 6/19 SPY calls? $260 strike? And do you set a stop order once executed? Learning not how to take 100% loss on my hedges.
OK so yes there was a form of an intraday box and yes breaking that means we move higher but I was referring to the DAILY box. Look back at the chart posted. That is a daily chart.
59 South
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Yo SQ breakout
AgEng06
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I'm glad you said that. I was looking at the daily trying to figure out how the heck it was at the top. Whew...
Proposition Joe
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Someone likes LRCX a lot.
Boat Shoes
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oldarmy1 said:

Boat Shoes said:

Alright, if we're at the top of the box now, do we now buy the 6/19 SPY calls? $260 strike? And do you set a stop order once executed? Learning not how to take 100% loss on my hedges.
OK so yes there was a form of an intraday box and yes breaking that means we move higher but I was referring to the DAILY box. Look back at the chart posted. That is a daily chart.
10-4, so that box peaks just shy of $300. So enter puts if and when we hit $295 or so? Thanks!
McInnis 03
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So in the interest of continuing bringing up eye catchers to the class....

$T (AT&T) 6/19 $28p
27,000+ volume
***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
BrokeAssAggie
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oldarmy1 said:

CrazyRichAggie said:

So it seems I'm not the only one confused. Learning is hard
You like the "Buy it now!" and "Sell 100% HERE!" approach? I can't do that all the time but I will try to on macro trade for SPY.


Well this would be helpful....

Buy __ put with ___strike
Buy ___call with ___strike
If SPY is between ___ and ___ hold
If Spy is above ____ do ___
If Spy is below ____ do ____


gougler08
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Boat Shoes said:

oldarmy1 said:

Boat Shoes said:

Alright, if we're at the top of the box now, do we now buy the 6/19 SPY calls? $260 strike? And do you set a stop order once executed? Learning not how to take 100% loss on my hedges.
OK so yes there was a form of an intraday box and yes breaking that means we move higher but I was referring to the DAILY box. Look back at the chart posted. That is a daily chart.
10-4, so that box peaks just shy of $300. So enter puts if and when we hit $295 or so? Thanks!
I've got the box limits at 278 and 294 give or take (on the daily chart), going to need volume confirmation either way to break it longer term but you can make decent hay on trading at the tops/bottoms
Boat Shoes
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gougler08 said:

Boat Shoes said:

oldarmy1 said:

Boat Shoes said:

Alright, if we're at the top of the box now, do we now buy the 6/19 SPY calls? $260 strike? And do you set a stop order once executed? Learning not how to take 100% loss on my hedges.
OK so yes there was a form of an intraday box and yes breaking that means we move higher but I was referring to the DAILY box. Look back at the chart posted. That is a daily chart.
10-4, so that box peaks just shy of $300. So enter puts if and when we hit $295 or so? Thanks!
I've got the box limits at 278 and 294 give or take (on the daily chart), going to need volume confirmation either way to break it longer term but you can make decent hay on trading at the tops/bottoms
Nice. Are you playing it with options or buying and shorting SPY itself? Or some other instrument?
oldarmy1
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What in the heck is going on! It's getting close to revolution time. Lied to continually in order to strike false fear.

gougler08
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Boat Shoes said:

gougler08 said:

Boat Shoes said:

oldarmy1 said:

Boat Shoes said:

Alright, if we're at the top of the box now, do we now buy the 6/19 SPY calls? $260 strike? And do you set a stop order once executed? Learning not how to take 100% loss on my hedges.
OK so yes there was a form of an intraday box and yes breaking that means we move higher but I was referring to the DAILY box. Look back at the chart posted. That is a daily chart.
10-4, so that box peaks just shy of $300. So enter puts if and when we hit $295 or so? Thanks!
I've got the box limits at 278 and 294 give or take (on the daily chart), going to need volume confirmation either way to break it longer term but you can make decent hay on trading at the tops/bottoms
Nice. Are you playing it with options or buying and shorting SPY itself? Or some other instrument?
Options, but work has been hectic lately so haven't been trading much. CADE is a good stock in a box (5-7.50) that I've been just buying/selling the stock outright with the same principle
Brewmaster
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Boat Shoes said:

gougler08 said:

Boat Shoes said:

oldarmy1 said:

Boat Shoes said:

Alright, if we're at the top of the box now, do we now buy the 6/19 SPY calls? $260 strike? And do you set a stop order once executed? Learning not how to take 100% loss on my hedges.
OK so yes there was a form of an intraday box and yes breaking that means we move higher but I was referring to the DAILY box. Look back at the chart posted. That is a daily chart.
10-4, so that box peaks just shy of $300. So enter puts if and when we hit $295 or so? Thanks!
I've got the box limits at 278 and 294 give or take (on the daily chart), going to need volume confirmation either way to break it longer term but you can make decent hay on trading at the tops/bottoms
Nice. Are you playing it with options or buying and shorting SPY itself? Or some other instrument?
agree completely, and I'm a rook at options... but I bought the dip on SPY 5/15 285c yesterday, sold today for a 1.5x. a pro would've bought the dip today on it and sold at 3x and bought some timely puts as well
jsap
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gougler08 said:

Boat Shoes said:

gougler08 said:

Boat Shoes said:

oldarmy1 said:

Boat Shoes said:

Alright, if we're at the top of the box now, do we now buy the 6/19 SPY calls? $260 strike? And do you set a stop order once executed? Learning not how to take 100% loss on my hedges.
OK so yes there was a form of an intraday box and yes breaking that means we move higher but I was referring to the DAILY box. Look back at the chart posted. That is a daily chart.
10-4, so that box peaks just shy of $300. So enter puts if and when we hit $295 or so? Thanks!
I've got the box limits at 278 and 294 give or take (on the daily chart), going to need volume confirmation either way to break it longer term but you can make decent hay on trading at the tops/bottoms
Nice. Are you playing it with options or buying and shorting SPY itself? Or some other instrument?
Options, but work has been hectic lately so haven't been trading much. CADE is a good stock in a box (5-7.50) that I've been just buying/selling the stock outright with the same principle
Are you saying with CADE you would buy when it's near 5 and sell when it's near 7.5?
IrishTxAggie
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If it can't hold this 2835, it gives bears a chance to pull this thing back down. Need to close strong
McInnis 03
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gougler08 said:

Boat Shoes said:

oldarmy1 said:

Boat Shoes said:

Alright, if we're at the top of the box now, do we now buy the 6/19 SPY calls? $260 strike? And do you set a stop order once executed? Learning not how to take 100% loss on my hedges.
OK so yes there was a form of an intraday box and yes breaking that means we move higher but I was referring to the DAILY box. Look back at the chart posted. That is a daily chart.
10-4, so that box peaks just shy of $300. So enter puts if and when we hit $295 or so? Thanks!
I've got the box limits at 278 and 294 give or take (on the daily chart), going to need volume confirmation either way to break it longer term but you can make decent hay on trading at the tops/bottoms
Just watch for confirmations or protect yourself with stops as a breakout in EITHER direction could cost you if you go the wrong way.
***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
leoj
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McInnis 03 said:

So in the interest of continuing bringing up eye catchers to the class....

$T (AT&T) 6/19 $28p
27,000+ volume


Both people at home and those who lost their jobs are not going to be sticking with direct tv. ATT leadership has destroyed shareholder value through two massive acquisitions that have not done anything except build up debt to be paid off. Truly some of the worst corporate governance in recent times, have completely missed the growth opportunities that actually were there.
IrishTxAggie
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leoj said:

McInnis 03 said:

So in the interest of continuing bringing up eye catchers to the class....

$T (AT&T) 6/19 $28p
27,000+ volume


Both people at home and those who lost their jobs are not going to be sticking with direct tv. ATT leadership has destroyed shareholder value through two massive acquisitions that have not done anything except build up debt to be paid off. Truly some of the worst corporate governance in recent times, have completely missed the growth opportunities that actually were there.
OXY says hello...
zag213004
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Those TWTR may 29 30c calls still looking good or is it time to cut losses?
Aggie_2463
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Rally caps on for the bulls!
BearkatRunner88
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IrishTxAggie said:

If it can't hold this 2835, it gives bears a chance to pull this thing back down. Need to close strong
If you're looking for a SPY put to hedge against calls out to Jun 19 should you just pick up a put around that date as well? 260?

Any suggestions are appreciated.
AgEng06
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Yeah. Read back a page or two.
McInnis 03
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leoj said:

McInnis 03 said:

So in the interest of continuing bringing up eye catchers to the class....

$T (AT&T) 6/19 $28p
27,000+ volume


Both people at home and those who lost their jobs are not going to be sticking with direct tv. ATT leadership has destroyed shareholder value through two massive acquisitions that have not done anything except build up debt to be paid off. Truly some of the worst corporate governance in recent times, have completely missed the growth opportunities that actually were there.
Well, OA is protecting shorts with calls. I'm protecting my long with a put. Freaking T, been in you for years and now all you do is hemorrhage. (NO PUNS ALLOWED ON THAT LAST SENTENCE)
***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
Andy07
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It looks like TWTR has been moving right along with SPY all day. In fact it's at 28.39 right now as SPY is at 283.90


I would say we have time to move up with the rest of the market still... but that's just my uninformed opinion
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