and WYNN announcing reopening on 6/4, will prob buoy las vegas stocks

Every knee shall bow and every tongue shall confess

DT charts looking fantastic

Tumble Weed said:

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Anybody use trailing stops? I am not a big fan, but I am trying a new strategy that is not HODL. I just set a couple at 10% on FB and AAPL.

Curious to see what % yall use?

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I've found trailing stops hurt me more than help me. I set alarms on TOS and then make the move in most cases. The market makers see where the stops are, and they will push an upward trending stock down, briefly, to take out the stops. Then they continue higher.

oldarmy1 said:

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I knew markets were going to explode upward.

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So what's your feel for the next few months? Do you think we hit that 3100 mark, then pull back some and have a W type recovery from the original crash?

Thinking we're on the upward swing of a V recovery and will see highs again by election time?

NTNX building into earnings

Aggie_2463 said:

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oldarmy1 said:

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I knew markets were going to explode upward.

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So what's your feel for the next few months? Do you think we hit that 3100 mark, then pull back some and have a W type recovery from the original crash?

Thinking we're on the upward swing of a V recovery and will see highs again by election time?

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I just care about 313 SPY. I'll be paring way back at that point and sitting on a pile of cash by then.

DT just building and building

willjohnathan said:

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NTNX building into earnings

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oldarmy1 said:

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So place your bets into the closing hour. SPY hold around $300? Sell off? or Press upward?

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I will bet close around $298-$299. That probably means $301-$302.

I could definitely be better about stops, I'm diligent in setting them which I think is good, but once they trigger I interpret that as a race to get back in and always seem to catch the asset at about 50% draw down, could be worse I guess.

The stock that shall not be named is 8 cents away from regaining its name.

You guys planning on holding through earnings? I may take 50% off and let the rest ride

HAL on que

I will hold short positions tightly with very close stop losses until post Q2 earnings. I am remaining long in the overwhelming majority of my portfolio, but will move to a higher cash position to be able to buy on what I think is an inevitable pullback to SPX 2600.

2.50 call 6/19 can be had for 15 cents...

Touchless said:

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oldarmy1 said:

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If my June 19 $315 flash calls hit I'm buying everyone 100 shares of the stock that shall not be named.

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In.

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ditto

287p SPY 6/12/2020
$2MM just crossed.

TheBiggerEvent said:

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You guys planning on holding through earnings? I may take 50% off and let the rest ride

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I am going to hold some. It depends on what it is at near close on if I will exit any of my positions. If it gets to 2x, I will probably exit 50%

I have a 5/29 call I might hold until the end of today or to the AM.

Well nuts! ATVI with a full on reversal hammer.

McInnis 03 said:

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287p SPY 6/12/2020
$2MM just crossed.

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In my opinion, it is inevitable, volumes very low and optimism is too high. Way too many up days in a row without any real pull back and the general pattern has become too repeatable:

• Magical gap up at 4AM EST in ES, no price discovery
• Decline near the open; mid day spike and ramp
• Sell off at close

At some point, ES will have a big gap down.

Climbing the wall of worry is my favorite kind of trading.

oldarmy1 said:

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The stock that shall not be named is 8 cents away from regaining its name.

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CX?

And look what it does..

One of my larger trading buddies has been looking for the $253.32 gap fill ever since $255 and sidelined. That's why I drown out all the noise of what people think or expect markets to do. Imagine missing 50 SPY points and 500 S&P points because you were waiting on that gap to fill. Heck I was buying BT and other stuff as we were under $297 with plans to intensify buys into that $296.10 gap fill. We never got the gap fill which in and of itself tells you buyers were camped out all over that.

OverSeas AG said:

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oldarmy1 said:

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One of my larger trading buddies

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Do we qualify in being your smaller, little brother trading buddies?

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Nope, we are his pupils, kindergarten style.

oldarmy1 said:

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If my June 19 $315 flash calls hit I'm buying everyone 100 shares of the stock that shall not be named.

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IN!!

fightintxag13 said:

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OMG, I LOL in real life.

TheBiggerEvent said:

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You guys planning on holding through earnings? I may take 50% off and let the rest ride

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I'm holding 1/4 through earnings. Have covered all of my costs, so this 1/4 is all profit.