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McInnis 03
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In reply to Maximus_Meridius • 3:07p, 6/11/20
AG
Maximus_Meridius said:
McInnis 03 said:
So take this as a "it's worth what you paid for it" but I was relistening to a chapter in the book this morning and one of the factoids thrown at me was


Quote:
If the Trin closes below 0.6, the market has an 80% chance of selling off the next day.
If the Trin closes above 2.0, the market has an 80% chance of rallying the next day.
If after closing above 2.0 the markets can't rally the next day, a major sell off could be in store.

-John F. Carter, "Mastering the Trade"



Right now, the TRIN has made a BIG jump to 2.04.




Looks like we closed at 1.94?
I think some folks got an early start on the purchasing.
***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
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aggiedaniel06
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In reply to McInnis 03 • 3:07p, 6/11/20
AG
McInnis 03 said:
I've been watching AUDJPY and yes, it's coming down like a mofo. Your freinds having to pay their landlords already??
Que?
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Grown Pear
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3:08p, 6/11/20
AG
Would really love it if we could see a clear bottom soon. I'm ready to deploy the rest of my cash.
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TxAG#2011
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3:08p, 6/11/20
Took this trade it's been playing out near perfectly so far

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AgEng06
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In reply to Grown Pear • 3:08p, 6/11/20
AG
Grown Pear said:
Would really love it if we could see a clear bottom soon. I'm ready to deploy the rest of my cash.
KEEP YOUR EYES PEELED!
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Brewmaster
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In reply to TxAG#2011 • 3:08p, 6/11/20
AG
TxAG#2011 said:
ehrmantraut said:
TxAG#2011 said:
In my non expert opinion, we will revisit 270's or a ~50% retracement from here to last through the summer. Too many gains and too much dumb money flooding in for a 3 day retracement.

We could still have a blow off top but I'm not gonna risk it.


Not a chance
Still zero?
270's soon? yes, still zero. but I'm in cash fwiw!
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aggiedaniel06
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In reply to AgShaun00 • 3:09p, 6/11/20
AG
Already have July calls.
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McInnis 03
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In reply to aggiedaniel06 • 3:09p, 6/11/20
AG
Your old institutional buddies, wondering if they have to pay back their debts now...... ie: gotta put the money back where they got it from?
***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
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AgShaun00
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In reply to aggiedaniel06 • 3:14p, 6/11/20
AG
aggiedaniel06 said:
Already have July calls.
try to buy shares after hours and can't on .VIX. What are you buying?
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thirdcoast
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3:15p, 6/11/20
AG
Not to get politcal, but Trump has gone from praising Powell as "most improved player" to criticizing his economic outlook. Powell got a bit defensive on the last question yesterday about creating an asset bubble and also widening wealth gap by propping up market. Maybe word got out that Fed/Treasury dry powder left on sideline might be a limit, with rest of stimulus coming out of Congress and 0 int rates.
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aggiedaniel06
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In reply to McInnis 03 • 3:18p, 6/11/20
AG
Haha no, plenty more where that came from.

This looks like Money Flow. Keep an eye out on USDJPY. If it continues to plummet, money is moving out. You can also see this with the CHF.
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Carlo4
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In reply to aggiedaniel06 • 3:20p, 6/11/20
AG
aggiedaniel06 said:
Haha no, plenty more where that came from.

This looks like Money Flow. Keep an eye out on USDJPY. If it continues to plummet, money is moving out. You can also see this with the CHF.
That is one heck of an indicator. I will be watching it from now on... thank you!
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OverSeas AG
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3:20p, 6/11/20
AG
Every knee shall bow and every tongue shall confess
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thirdcoast
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3:22p, 6/11/20
59 South
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3:23p, 6/11/20
AG
Well at least I can get more GBP with my USD now. Last transfer was a few weeks ago in the $1.21s.
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Swollen Thumb
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In reply to tam2002 • 3:23p, 6/11/20
AG
tam2002 said:
I've been looking for a good time to get in the new online betting BETZ etf and I've got to imagine now is the time? Anyone else in this?
I looked into this with interest, but held when I noticed its holding are not all online gaming stocks. Quite a bit of traditional gaming stocks in the portfolio (MGM etc).
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$30,000 Millionaire
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In reply to aggiedaniel06 • 3:23p, 6/11/20
AG
aggiedaniel06 said:
Already have July calls.
which instrument do you buy?
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OverSeas AG
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In reply to 59 South • 3:24p, 6/11/20
AG
Every knee shall bow and every tongue shall confess
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thirdcoast
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3:25p, 6/11/20
AG
Last bunch of SPY 312 6/15 calls hit at .85
Near close also jumped in same TSN and ROKU calls posted here....let's go!
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59 South
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3:25p, 6/11/20
AG
If we get a good bounce tomorrow I'll probably sell out of a couple swing trades to lock in gains. I was so close to sell targets but still good swings. JD from 34 and SQ from 63.
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$30,000 Millionaire
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3:28p, 6/11/20
AG
I feel like we have to get a bounce tomorrow.
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mavsfan4ever
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In reply to Swollen Thumb • 3:28p, 6/11/20
AG
Swollen Thumb said:
tam2002 said:
I've been looking for a good time to get in the new online betting BETZ etf and I've got to imagine now is the time? Anyone else in this?
I looked into this with interest, but held when I noticed its holding are not all online gaming stocks. Quite a bit of traditional gaming stocks in the portfolio (MGM etc).
I was disappointed it wasn't all electronic/online gaming stocks as well. Seems dumb to include physical gaming stocks, as those are somewhat competitors. In the long run, the more that the electronic/web gaming stocks do, the worse I would imagine stocks like MGM would do.
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aggiedaniel06
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In reply to AgShaun00 • 3:28p, 6/11/20
AG
AgShaun00 said:
aggiedaniel06 said:
Already have July calls.
try to buy shares after hours and can't on .VIX. What are you buying?
Call options on the VIX.

The VIX itself cannot be traded. You can trade derivative instruments like the VXX or leveraged ones like UVXY and TVIX. You can also trade options on these.

EDIT: To be even more specific, you can trade futures on the VIX.
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59 South
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In reply to OverSeas AG • 3:30p, 6/11/20
AG
Yea the first time I was here it was around 1.60 and sucked. Was traveling here previously for work and saw as high as about 1.75. Was here for the Brexit vote and loved the tanking GBP. March low was around 1.15 and there was and still is speculation that it could eventually get to 1:1. Would be amazing for me being paid in USD.
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12thMan86
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3:30p, 6/11/20
AG
John Carter thinks we bounce tomorrow, but of course has no clue if it will last. I had 10 x 305/300 Put Debit expiring tomorrow on for .75 from earlier this week that I just wrote off, and damn it came back to life today!

Again have done well with Credit spreads. Didn't get greedy, got out at 75% max profit...TSLA, SHOP. Before both dropped.
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12thMan86
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3:32p, 6/11/20
AG
LULU misses. Down 6% AH. Revenue and earnings. It's up a lot last few weeks, could get hit tomorrow.
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aggiedaniel06
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In reply to $30,000 Millionaire • 3:33p, 6/11/20
AG
Futures and options on the VIX.
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Carlo4
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In reply to $30,000 Millionaire • 3:40p, 6/11/20
AG
$30,000 Millionaire said:
I feel like we have to get a bounce tomorrow.
I'm playing that as well. Sold my 400 shares each in SQQQ and SPXS. Looking back at charts in feb/march, we had a massive up day in volatility, following by the dead cat bounce day, followed by continued selling.

Not saying that will repeat exactly, but volatility typically alternated days up and down. With any luck, maybe I'll have another shot at TVIX under 200 again.

However, this could be a bubble pop and is going down no matter what fast....
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Charismatic Megafauna
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In reply to thirdcoast • 3:43p, 6/11/20
AG
thirdcoast said:
Last bunch of SPY 312 6/15 calls hit at .85
I picked up one for 1.07 earlier in the day and set an order for another at .8 and it filled like 5 minutes to close
Not gonna get greedy with these...gap up tomorrow I'm out
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59 South
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3:43p, 6/11/20
AG
This drop was too drastic to ignore. Like Irish said previous support levels were useless today. That is a bad sign for a sustained bounce back and this being a blip. This looks more like the repeating drops from middle of March. Each of the 4 or 5 bounced back bigly the next day just to crater the next.

Each of the next days closed higher than the open of the massive down day. Could see a bounce back to SPY 315 or so tomorrow. And then I'd GTFO of everything including 401k and all cause we'd we would be going sideways for a while at best with better chance of W recovery.

Different dynamics of course and getting back above 8 and 21 EMAs would appear bullish. Not easy to read at all with this tape imo.
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Charismatic Megafauna
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In reply to 12thMan86 • 3:45p, 6/11/20
AG
12thMan86 said:
LULU misses. Down 6% AH. Revenue and earnings. It's up a lot last few weeks, could get hit tomorrow.
They've been ripping. I wanted to buy puts but they were too buku. If they get slaughtered tomorrow I will probably pick up some shares, I think they are a powerhouse as far as loyalty and innovation. Wish I'd just held onto the shares I sold at 199...
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tam2002
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In reply to mavsfan4ever • 3:58p, 6/11/20
AG
mavsfan4ever said:
Swollen Thumb said:
tam2002 said:
I've been looking for a good time to get in the new online betting BETZ etf and I've got to imagine now is the time? Anyone else in this?
I looked into this with interest, but held when I noticed its holding are not all online gaming stocks. Quite a bit of traditional gaming stocks in the portfolio (MGM etc).
I was disappointed it wasn't all electronic/online gaming stocks as well. Seems dumb to include physical gaming stocks, as those are somewhat competitors. In the long run, the more that the electronic/web gaming stocks do, the worse I would imagine stocks like MGM would do.


MGM has an online presence but I get your point. The main holdings are gonna be the big players like Draftkings and fan duel and the tech that's supports them. I just look at it as a real possibility for growth with gambling becoming more legalized across the US. We'll see how it goes
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Boat Shoes
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In reply to 59 South • 3:58p, 6/11/20
AG
59 South said:
This drop was too drastic to ignore. Like Irish said previous support levels were useless today. That is a bad sign for a sustained bounce back and this being a blip. This looks more like the repeating drops from middle of March. Each of the 4 or 5 bounced back bigly the next day just to crater the next.

Each of the next days closed higher than the open of the massive down day. Could see a bounce back to SPY 315 or so tomorrow. And then I'd GTFO of everything including 401k and all cause we'd we would be going sideways for a while at best with better chance of W recovery.

Different dynamics of course and getting back above 8 and 21 EMAs would appear bullish. Not easy to read at all with this tape imo.


If everyone is looking for the pop to exit, doesn't that make it really hard for the pop to actually happen??? I'm looking for a pop to trim long exposure as well. As if seems are all of you.
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Baby Billy
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In reply to 59 South • 4:09p, 6/11/20
AG
59 South said:
Could see a bounce back to SPY 315 or so tomorrow. And then I'd GTFO of everything including 401k.


I couldn't let this go. This is horrible advice.

Not really the thread for this discussion, but..... make drastic moves with your play money all you want, but I've seen so many people blow up their entire retirement income plan by trying to do it in their 401ks or IRA's with their whole nest egg.

You may be fine, but others on this thread won't be if they take that advice
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McInnis 03
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4:10p, 6/11/20
AG
Not sure what to make of USDJPY because we're printing it faster than we can make the paper. AUDJPY can't stop won't stop though and that's a bit concerning.
***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
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