cottonpicker said:

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Good time to look at ettx? OA1 mentioned it last week and it's dropped quite a bit since then

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I'm interested as well.

AgsnFly said:

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$30,000 Millionaire said:

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Shorted NDX again today (after getting stopped).

We've already established I'm crazy, but how much longer can this really go on? The NDX is so far away from its 200MA, let alone its 21 EMA. There is no reason aside from pure speculation for Tesla to be valued so highly.

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There is a famous quote (almost cliche) on this subject that I am sure you have heard many times - irrational v solvency.
Please let us know when you decide to go long this market (no offense intended).

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I am 2/3 permanent long anyway and I've been careful with stop losses. I have also shut my brain off and made long trades with you all. I have the biggest issue with NDX being this high. The moment I go all-in bullish is the moment it tank.

Re: irrtational, yes, you're right, but it is difficult to deny we are in a bubble. I would feel differently if VIX were declining, COVID was normalizing, and we weren't in an election year. This feels a lot like March of 2000. I remember watching the super bowl when literally every commercial was some sort of no-name start-up and thinking that the tech industry had jumped the shark. I had several very hard, lean years professionally right after that. With regard to our current circumstance, some things I am thinking about:

• Banks not confirming the rally
• NDX is significantly extending above SPX, RUT, and DJIA, well past historical normals and at 2000 levels
• Nasdaq is outside its upper bolinger band
• Treasuries not confirming the rally
• Market Cap to GDP is insane / all time highs
• P/E will be insane / all time highs
• NYHILO says we are near a top
• Literally 7-8 individual stocks are driving everything
• Put/Call ratio is comically low
• The fed intervenes literally every time the market starts to turn south with a new policy intervention
• Current prices may assume another bailout
• Consumer spending is suppressed, even though it's rebounding
• Rest of world is getting over COVID, we are not making the same progress. A curious thing is the death rate is declining (great news) and I hope that trend continues. This can mean a lot of things, including that the original outbreak was much much worse than we thought.
• Even though people are getting re-hired (this is great news), unemployment is dismal and a lot of big firms are cutting high paying professional jobs. If you're cutting jobs, you're also cutting expenditures, this will effect big tech companies, especially those that are advertising reliant
• How much higher can this realistically go?
• What if the fed loses control and/or their moves have less potency?

TL;DR Seems crazy to go FOMO long at these levels

TecRecAg said:

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I follow him. A lot of his picks are a lil too rich for my blood lol

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try spreads... I have a small account, but will occasionally jump in a AMZN spread for example. The premium on the calls is crazy.

I would like to remind you that stonks only go up

Jet Black said:

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cottonpicker said:

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Good time to look at ettx? OA1 mentioned it last week and it's dropped quite a bit since then

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I'm interested as well.

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they got a 3M NIH grant yesterday I believe, on top of the big one they got last week and kinda sorta acted like they wanted to run but didn't. My basis is 2.9, might as well grab some more

McInnis 03 said:

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ASHR gonna run again tonight

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I didn't mean run and hide

BREwmaster said:

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TecRecAg said:

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Blackbox stocks

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Nice... similar to cheddar flow I believe?

I've posted this guy before, but DY crushes it on options every week and is a Free twitter follow! he posts his trades real time. I would not recommend the novice jump into this though. Sometimes he bails pretty quick or takes profit quick if the action deems it.

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he is money. You don't see his sells very often as they are comments in his original, so you need to have your own strategy. Made 2k profit off of 560 cost on baba over weekend.

TecRecAg said:

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I follow him. A lot of his picks are a lil too rich for my blood lol

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he does. They make moeny, but not dropping 3k on a single option either. He is on point with FSLY

FTNT downgraded by JPM

Are we going to see low volume or selling on #blackoutTuesday2020, while blacks pledge not to spend any money, accept on black owned tickers?

My guess is black traders gonna trade, but maybe the SJW whales on IG and Twitter are gonna rock the markets today.

Yikes

It's down 39% premarket.

GNUS continues to drop

thirdcoast said:

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Are we going to see low volume or selling on #blackoutTuesday2020, while blacks pledge not to spend any money, accept on black owned tickers?

My guess is black traders gonna trade, but maybe the SJW whales on IG and Twitter are gonna rock the markets today.

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This is news to me, but no, if that's the #hashtag flavor of the week today, I don't see much effect, if any at all. May be used as an excuse to get us a little buying dip at most I suppose.

Lots of reasons why it doesn't matter, but I don't want to give even a needle's head in a haystack chance of being accused of bringing race talk or politics to this safe haven of wealth building knowledge.

When do you hop into WKHS as it continues to fall? Is it coming back to where it should be, or will there be another rise?

Touching base back on WYNN since I mentioned it last week. Yesterday I sold some calls to go net free and then when it dipped i bought those same calls back at 50% of the sale price (close to me original purchase price).

I have been a bit uncomfortable with the volume - if this truly is a secondary reversal we should be seeing much more volume as the price increases than periods of price decrease. We aren't seeing that as dramatic as you'd like. The last two days it has gone the other way, with higher volumes as the price decreases. So I'm lowering my price to sell my remaining calls and will watch carefully to limit losses in case it goes against me. I wanted to comment on it in case anyone else bought in here hoping for a reversal. It still might be, but I'm not very comfortable with it.

txaggie_08 said:

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When do you hop into WKHS as it continues to fall? Is it coming back to where it should be, or will there be another rise?

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I probably wouldn't touch it above 11. 10-11 is a key level. So is 5-6. It has a lot of digestion it needs now from some massive massive volume. A slower digestion means a higher 'next bottom' I'd think. So if it digests this move well over the coming weeks, then 10-11 may be a good entry. If it starts falling fast, it could retest 5-6.

I'm watching it, but not buying any time soon. Who knows though, it could pull an OSTK on us!

59 South said:

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thirdcoast said:

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Are we going to see low volume or selling on #blackoutTuesday2020, while blacks pledge not to spend any money, accept on black owned tickers?

My guess is black traders gonna trade, but maybe the SJW whales on IG and Twitter are gonna rock the markets today.

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This is news to me, but no, if that's the #hashtag flavor of the week today, I don't see much effect, if any at all. May be used as an excuse to get us a little buying dip at most I suppose.

Lots of reasons why it doesn't matter, but I don't want to give even a needle's head in a haystack chance of being accused of bringing race talk or politics to this safe haven of wealth building knowledge.

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Yeah, I was mostly kidding. A $1.3T black buying power figure is trending on social media to show how much BLM today. But unless Powell joins the movement, nothing to worry about here.

E said:

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FTNT downgraded by JPM

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One of JPM's analysts said the market would go up if Biden wins yesterday.

Regardless of what side of the aisle you're on, the market will not go up under him.

Ok, gotcha. Couldn't tell. Must be bullish for SQ. Back up near 122 premarket.

Rice and Fries said:

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Swollen Thumb said:

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C'mon Icarus. You're getting too close.

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jsap said:

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It's down 39% premarket.

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ETTX down at all time lows, may be time to hop in

gougler08 said:

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jsap said:

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It's down 39% premarket.

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ETTX down at all time lows, may be time to hop in

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Who as the OA bat signal pic? We need to throw that up.

Prognightmare said:

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E said:

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FTNT downgraded by JPM

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One of JPM's analysts said the market would go up if Biden wins yesterday.

Regardless of what side of the aisle you're on, the market will not go up under him.

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I 100% still believe trump will be re-elected, but the reason establishment dems want Biden is he is as close to center as you can be politically. No Medicare for all, and a very non-progressive record.

He's no Bernie or warren with wealth tax and Medicare for all and wild green new deal proposals.


****this is not an endorsement. Just strictly speaking in terms of the market.****

SANW finally kicked in.

Apparently premarket data wasn't right on ETTX, opened at 2.75

Prognightmare said:

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He'll rollback the Trump tax cuts and that will lead to a lot of job losses, the market will definitely give back a lot if that happens.

We can debate it on another thread though

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Yeah no worries. I'm just talking strictly market wise, when Bernie dropped out (rumor and the real time) the market jumped. The whole reason they picked Biden was he's so middle of the road. There will definitely be some minor policy changes, but nothing extreme is all I'm thinking for my long term holds. If the the DJIA can double under the last two dems tenures, I don't think Biden is the type to topple the cart.

Then again, still don't think that will matter. Bernie/Warren would have been the types to try to change the entire system, or whatever. Biden would play within the rules and prioritize the economy. The lobbies are too strong, and that's just been where he sits historically.

AMD calls are my lone bright spot at the moment.