oldarmy1 said:

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I first made that comment on the tarrif announcement day. I think Trump is willing to sacrifice 2500 points of his 8500 lead rally to win a long term gain.

Will Americans endure a short term pain for it? Not bloody likely. Which is really a shame

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Remember this? I said Trump was willing to sacrifice up to 2500 points of gains to win the trade war. Now he's letting it be known. Yet the markets have held serve at around 1000 points....so far. I bet Trump is even surprised that the strong economy is offsetting the impact of a trade war.

Trump: 'We're playing with the bank's money' on market's gain since election to fight trade war

Yeah, but plans such as raising tariffs on automobiles and their parts, which doesn't affect China as far as I've seen, make me think he is playing with house money but doesn't know the game. We'll see

Wasn't expecting the market to turn up to start this morning...

FLEX is trying to give it all back.

Anyone know why oil stocks are all down big even though WTI is up one percent?

2 poorly managed trades by me:

1. Bought IQ last Friday at $29.7 - it hit a high of 37.5, so I was up 26% in 3 days and has puked with nflx. Now I have a stop just below the 50 day which is basically breakeven. I really didn't think nflx would have a significant impact due to IQ releasing prelim revenue numbers, which were really good.

2. Bought OSTK last week at $37 - it was over 43 on Tuesday, so up ~20%. It has also puked. I should have initiated a stop just below $40 which was the recent heavy resistance line it broke through. When that previous resistance didn't become support, I should have got out and revisited.

Oh well, have to post the good with the bad.

Two thoughts, it is only bad if you sell and realize the "loss"

With the sudden price moevement up you should have bought cheap options as protection.

Stops are not contracts like options are.

JD on its way down to test that $34.75 resistance line, NFLX heading down today too

aggiedaniel06 said:

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Anyone know why oil stocks are all down big even though WTI is up one percent?

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Tariffs.

https://www.marke****ch.com/story/oil-lower-on-renewed-trade-war-fears-2018-07-20

The story refers to WTI being down, however it is up today and most oil companies are down.

Also wondering why most oil companies are down when the oil price is up. It appears though recently that there has been a disconnect with many of the smaller companies in relation to the price of oil.

Hopefully earnings coming up will be good

Fingers crossed! OA, do you still see JD as a long play to get up to $50+ range (I believe that was the target you mentioned a while back)? The whole China tariff thing seems to be killing it, but I guess we'll see if major support can hold next week

I was looking at jd earnings growth estimates the other day. I need to do even more reading but seems on the surface to be very undervalued if you're thinking of long term holding.

Heading into the weekend I am out of all positions but some covered calls (and underlying long position) in TWTR.

Things to be thankful for, my aveo puts i sold on entry expired worthless, lowered holding cost by 11 cents a share

Busy day so couldn't follow the ebbs and flows of the markets. Looking across a few of my key indicator stocks.

Amazon. Not good. 3 days of $25+ intraday starts to mid day only to give it all back. That is a short scare strategy big money uses to both sell into each wave intraday downward and leave mainly them holding shorts.

While I'm not predicting AMZN to tank Monday it won't surprise me if futures are bright red and it is down 20+.

MSFT. Killer earnings and it barely holds a gain. Again, its had a big move upward so selling up here makes sense. I had placed a $104 August 17th Put that filled early. My NFLX Puts held serve - neither any appreciable gain over initial drop from $185 today but those are firmly in the money $175's, so I'm content not to have premium decay headed into the weekend.

I got an S&P Put order only partially executed. I actually kinda like it when you plucked the top so closely that your order gets fractured.

All of these are hedge trades. I still have all other trades posted.

To the individual asking on FLEX. I noticed the entire sector was off today. But I think this news factored into the extra down volume today:

https://www.google.com/amp/s/www.fairfieldcurrent.com/2018/07/20/flex-ltd-flex-president-douglas-britt-sells-56784-shares-of-stock.html/amp

Now, he has a bunch more shares so I'm not reading anything into it for now.

CHK screen looks like a nice war zone $4.49-$4.56. Volume really stands out as a bull/bear battle took place. Bulls won out today as they did last 2 days testing this area.

It's as clear of a support level as it gets. That doesn't mean it will stand. Last time it lost this and went to $4.25 area before reversing.

Whoever was buying 100k-300k shares at a lot trade isn't going to let it flounder below here long.

amzn had a downward trending week for the April 26th earnings

feb 1st earnings didnt give much, things didnt pick up till the 14th

oct 26th it shot through 1000


The trend line from October 17th till now is pretty consistent, ridiculous even aside from the feb and late march dips....but that is 2 significant dips and with all the tariff drama I'm sure there is another in the wings

I heart AMZN

I'm waiting on Chinas tariff reply....I don't expect them to stay silent as trump threatens huge tariffs.

Earning season is ramping up here over the next several weeks.

Anyone have ideas on some quick flips?

Curious to see what UA is expected to do.

Ragoo said:

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Earning season is ramping up here over the next several weeks.

Anyone have ideas on some quick flips?

Curious to see what UA is expected to do.

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TWTR should be wild.

To the question asked about JD I read up this weekend and the reason the stock has fallen to major support levels is because of a new China player analyst say already has more members than JD.

It's a China stock so hard to see all about it. At any rate JD holding this major support will be critical. I'd be cautious and leverage some Puts $5+ below this major support just in case.

Anyone know anything about AMID? Pays over 14% dividend due to shares being near lows. Appears to have found major support and begin to move higher.

Everyone should be able to see these at this point. All those Puts I entered Friday were due to preparation of continuation of the waves. Until those break - trade them. You can see the red volume bars. In simple terms the red means the majority of the shares traded were at the bid. Green means the majority of shares traded were at the ask.

One might argue that this longer group of waves has created a bearish head and shoulders. The middle wave was the highest and you can see that the largest volume red bar occured at its top. Definitely some serious sellers at that level. The right (current) potential wave did make it higher than the initial left one but in technical terms that is irrelevant. It's all about being lower than the middle.

Futures reversed from +4 S&P to -5.

If we see new lows from last two days I wouldn't ride the wave down.

TWTR may test that lower resistance line at around $42...would be a good place to buy in if you think earnings will get it out of the current flag pattern

S&P double bottom. Bouncing nicely off that. That becomes your watch mark

CHK just below $4.50 major support held so far on another retest. It received an upgrade by Zacks and several "I'm lon CHK again" articles. Action on the stock hasn't reflected any of that after $4.64 high premarket and now this retest. Certainly someone large is dumping shares.

CLF has been a rocket.

BAC breakout. Going August 17 $31.50 Calls

FLEX went through a test and has recovered almost green. Good sign

S&P intraday marks set at 2795.25 and 2801.75. Go with whichever direction breaks up or down.

TWTR flag seems to be coming to a point pretty close to when earnings are announced, that seems like it will be the make or break to send it off running again (bull flag pattern) or come back down

oldarmy1 said:

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FLEX went through a test and has recovered almost green. Good sign

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Keep going! I got greedy last week and held on to my 7/27 calls and need it to get back to a good place.

Ranger or was it Ragoo. I just loaded up on OSTK $37.75-$37.83. Looking to sell a bunch at $40.

S&P broke to the upside. Expect a continued press upward now. I enter all trading shares across my favs on the mlment we hit 2801.75 on S&P. AMZN was -13 and now -744. I will sell when it gives me $10/share.

JDCAG (NOT Colin) said:

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oldarmy1 said:

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FLEX went through a test and has recovered almost green. Good sign

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Keep going! I got greedy last week and held on to my 7/27 calls and need it to get back to a good place.

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Positive now $15.15. Expect run up into earnings but I'll be long gone hopefully by then. That CEO sale still bugs me ahead of earnings.