Prognightmare said:

---

Prognightmare said:

---

Watch CVNA for a snap back tomorrow or Friday if you're looking for a trade.

---

Anybody get in on this?

---

Nope. Great call though

See right here on SPY Dan would tell you "Look for 305 to confirm. Could go. 307-308 next level area."

Notice that he doesn't tell you exactly what to do. He would be buying a bunch of SPY shares about now. Stop loss a somewhere a little below 305 and then watch price action closely and sell over 307 and be out. He is a true shares only day trader only. Doesn't hold anything overnight ever.

Sold them this morning for a nice gain. Thanks

IrishTxAggie said:

---

Since y'all were just talking about it

---

Nice. I bought shares for a swing around 63 and planned to sell around 90-100 magnet. But it has handled that area so well that I'm holding for now. There's a really long launch pad there from the first time it touched 100.

They keep introducing new products and services into the platform, cash app growth is huge, etc. It's a long term hold for me.

How are you trading beta?

Ragoo said:

---

How are you trading beta?

---

I don't day trade. I just like to study various strategies like his and mesh them together to better understand price action for longer term trades and sometimes options. I only use his method to better time entries for longer term trades. The PS60 method is actually fairly similar if not pretty much the same as the Darvas box methods. Not sure if that makes a lot of sense...

What beta are you trading though? Greater than 1? Less than 1.2? Etc

leoj said:

---

They keep introducing new products and services into the platform, cash app growth is huge, etc. It's a long term hold for me.

---

If Jack were to walk away from TWTR and solely focus on SQ, I think it would explode, as would TWTR. I'm open to being convinced otherwise... just a thought I've had for awhile.

Not a Jack fan really, but how the hell can he run 2 companies that size at the same time?

Ragoo said:

---

What beta are you trading though? Greater than 1? Less than 1.2? Etc

---

I don't even look at that really. I just look for good set ups in sector leaders mostly. I'm pretty simple. I do usually end up in higher >1.3 names. Just looked and my current holdings range from .98 - 2.67 but .98 is an outlier.

2.67 is SQ.

Moving to new thread.

jeromePOWell said:

---

I like this idea, was just reading up on this actually, now do I have the gumption to buy a 3K contract? We shall see!

---

I have executed (or currently am executing) the poor mans covered call strategy on CCL, T, MGM, SNAP, DFS, MGM, GM, and now SQ.

I look to buy an 80 delta deep ITM call at least 80+ days out. I look to sell 30 delta calls on the short term.

If the stock moves positive, you're GOLDEN. Worst case scenario your CC gets so deep ITM that you know you'll get called out, in that case I close the diagonal at max profit and move on to the next selection.

If the stock moves against you that's where it gets tricky. This is my situation with MGM and DFS. With MGM I'm buying more and averaging down, I'll do this a few more times if need be before I cry uncle, I believe this will rebound. The tricky part is selling more covered calls that don't get you called out at an overall loss. You do have the ability to roll your short covered calls but if it moves too far too fast, you're basically locked into a loss unless you have extreme patience.

Otherwise, I've done pretty good on this and have not realized a loss on this strategy yet. I consider it an alternative to going long on a stock, just forfeiting any dividends that I could have alternatively.

59 South said:

---

leoj said:

---

They keep introducing new products and services into the platform, cash app growth is huge, etc. It's a long term hold for me.

---

If Jack were to walk away from TWTR and solely focus on SQ, I think it would explode, as would TWTR. I'm open to being convinced otherwise... just a thought I've had for awhile.

Not a Jack fan really, but how the hell can he run 2 companies that size at the same time?

---

I have had the same thought for a while. I think his management of SQ has been better, and it shows.

boring

https://www.dailymail.co.uk/news/article-8452195/Newlyweds-sue-Royal-Caribbean-bodies-horrifically-scorched-active-volcano.html

Quote:

---

It began with a plume of brilliant white smoke, billowing silently from the volcano's rugged crater before mushrooming into an ominous black cloud.

By the time their tour guide had yelled at them to take cover it was too late for newlyweds Matthew and Lauren Urey.

The couple from Richmond, Virginia, were soon engulfed in a suffocating fog of molten ash, scorching their flesh, pummeling them with debris and plunging their dream honeymoon into a living hell.

'My body was literally sizzling,' said Lauren, 33, fighting back tears in an exclusive interview with DailyMail.com.

'I was holding Matt's hand and I just kept telling him I loved him because I thought it was only seconds before we would both die.'

Matthew, 36, added: 'It was darker than the darkest nights you've ever seen. It was scalding hot, agonizing, we were getting pelted with rocks.

'I actually thought I had gone blind because I couldn't see a thing. I touched my face afterwards expecting my eyes to be gone. I had forgotten I had sunglasses on and they were completely covered in dust.'

It's been six months since the brave couple escaped the terrifying eruption on New Zealand's White Island, a rocky outcrop that sits atop one of the world's most active volcanoes.

The day-long excursion was supposed to be the highlight of a 12-night Royal Caribbean cruise taking in the sights and natural beauty of Australia and New Zealand.

But today the couple are suing for negligence over the December 9 tragedy, which claimed the lives of 21 people, including 19 vacationers from the luxurious Ovation of the Seas ocean liner.

---

FYI for you RCL traders

Sold the rest of my DELL. I still don't like this tape. This a rest day. If we can't get over 3076, expect more selling tomorrow IMO

Will be in 90% cash by EOD

Interesting approach to sue a cruise line for an active volcano erupting for an excursion they selected.

Yeah, there's pics of them at the link. The got pretty damn burned all over their bodies.

SIG getting real damn close to a buy if you're looking for lower priced stocks.

I think this thing is about to go south.

Prognightmare said:

---

SIG getting real damn close to a buy if you're looking for lower priced stocks.

---

THAT is your poor man's covered call strategy poster child!

BREwmaster said:

---

TriumphForks said:

---

cottonpicker said:

---

Ontx has pulled back again. Y'all think it's time to buy again?

---

Just loaded up some at .54

---

Yep, I think we're about to be go for launch... in a wedge now.. OA showed an ascending channel, that seems to have turned into this wedge, hopefully this shows up right. I'm hoping for a fill and adding more at the moment!

---

Just bought some been seeing yall talk about it for too long. What's the price target on this?

59 South said:

---

george1992 said:

---

Ragoo said:

---

How are you trading beta?

---

He's a master beta.

---

Way past my prime in that department. Peaked in the late 90s along with the tech bubble.

---

at 50.

Follow these rules and you will be at your best.

McInnis 03 said:

---

Prognightmare said:

---

SIG getting real damn close to a buy if you're looking for lower priced stocks.

---

THAT is your poor man's covered call strategy poster child!

---

Unless they go bankrupt

$30,000 Millionaire said:

---

I think this thing is about to go south.

---

I'm with you. Now 95% cash. gives up 3050 and we see 3040 again. If that can't hold, here comes 3020

McInnis 03 said:

---

McInnis 03 said:

---

Prognightmare said:

---

SIG getting real damn close to a buy if you're looking for lower priced stocks.

---

THAT is your poor man's covered call strategy poster child!

---

Unless they go bankrupt

---

The $4C for Jan is almost even money right now. Couldn't resist

Knew that was coming. You guys are good.

Wanted to say thank you for explaining that how you did. I'll look further into it and work to find better moves.

So thanks for that and the rest of your insights. You're a good poster that brings a lot of information to the table and it is appreciated.

Put this in my notes, but haven't bought yet

panduh bear said:

---

Wanted to say thank you for explaining that how you did. I'll look further into it and work to find better moves.

So thanks for that and the rest of your insights. You're a good poster that brings a lot of information to the table and it is appreciated.

---

No problem. Thanks, but you're giving me waaaaay too much credit. It helps me learn more and faster by posting thoughts and learnings here.

Outside of something crazy happening tomorrow, SPY is going to go for an inside week, and if we're not careful we're going to make this month a shooting star.......

TICK RINGERS. Run it up boys!

you're fading the tick, i hope?