Futures up 18 this morning

Cramer said he's a buyer of SQ this morning.

Prognightmare said:

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Cramer said he's a buyer of SQ this morning.

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Guess it's time to sell my SQ then...

today will be very interesting to watch. everything looks up big this AM and a continuation from yesterday afternoon buying.

And just as it falls, IQ upgraded to outperform. It's in my retirement account, so I'll just sit

So did ROKU finally find it's bottom at $49.28? I'm thinking another earnings beat since they're projected at EPS ($0.13) and now might be a decent time to jump onboard.

IrishTxAggie said:

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So did ROKU finally find it's bottom at $49.28? I'm thinking another earnings beat since they're projected at EPS ($0.13) and now might be a decent time to jump onboard.

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Did you see the post I made a page or two back about Morgan Stanley taking a big stake in ROKU?

oldarmy1 said:

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Well I have no idea of this was the bottom but it was the bottom for the day. Volume spiked everywhere on the last big dip. That's when I went into AMZN. I also bought SQ on this signal sweep order. Allowed buys just above the beginning of the sweep because once it filled it goes back to current ask. Sweetness!

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pssst

That was a bottom.

This is when you get super aggressive on charts that look like this. Happened across the field so SQ, ROKU, AMZN, NFLX and BABA were my top trades. I am taking all of my Call options off the table right now. I left 90% of my Put sells on and just sold covered calls against 50% of my share purchases.

2716 S&P

We could squeeze like crazy but my target for taking these actions was 2716.

oldarmy1 said:

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SUM with over 6 million shares versus avg 1.92m. Triple the volume = reversal.

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Getya SUM

There's always one stock that thinks it can break the trend and gives a ridiculous lag trade. MU was this mornings. Inexplicably dropping below $36 on early selling.

Day traders dream

nice.

AMZN and SQ running

SQ reports earnings one week from today. It's up on BIG volume and Cramer said he's a buyer this morning. I'm not worried about an earnings disappointment. Only a blue wave would take the stock down before earnings and I don't anticipate that happening.

IrishTxAggie said:

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AMZN and SQ running

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I reallocated to primarily these two in my portfolio in the last 4 days. Feels good.

Still down, but not as bad anymore

I'm sitting on 11/9 $76 calls

I'm on the $77 and $82.5

AIG intraday reverse H&S. Watch for breakout and move above $42.

And here is 20 million shares saying ENOUGH! I expect a V bottom move on it.

TNDM

If it gets above $40, should we expect it to push to 48 to "fill the gap"?

Any thoughts on what the S&P is going to do the rest of the day from a technical perspective for any of the chart guys out there? Do ya'll think it continues to climb or do ya'll think it will come back down?

oldarmy1 said:

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AIG intraday reverse H&S. Watch for breakout and move above $42.

And here is 20 million shares saying ENOUGH! I expect a V bottom move on it.

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All I try to do is help. Entry at $41.84 to $42.40.

Aggiesincebirth said:

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Any thoughts on what the S&P is going to do the rest of the day from a technical perspective for any of the chart guys out there? Do ya'll think it continues to climb or do ya'll think it will come back down?

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Once the short squeeze played out we retrace until we find real buying support. But understanding that shorts covered should seen that one of the headwinds on continuing upward is sitting on the sidelines for now.

Aggiesincebirth said:

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Any thoughts on what the S&P is going to do the rest of the day from a technical perspective for any of the chart guys out there? Do ya'll think it continues to climb or do ya'll think it will come back down?

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I think we clearly broke the down trend at this point. Looks kind of flat though for the day. Might not see much movement up or down for the rest of the day.

Long term it seems like support has be found for the time being.

OA's posting on the "V" bottom is important.

Yeah we popped and pulled back and now buyers coming in. How much we go between now and election day is the wild card. Could find some resistance and move sideways fading into the election day. Why I wanted to set up covered calls, take a wad of money off the table and stand by.

Ok, I said I wasn't touching GE stock back at $15 and I'm not going to buy shares but I am buying 100 $12 January '21 Leaps for $1.99. Under $20k to leverage 10k shares just more than $2 away from current price. I like the odds.

Bought GILD weekly $69 on the selloff panic over some HIV drug competition.

Yesterday and today were much needed for my ROKU Jade Lizard. Have some SWN $5.50 covered calls expiring Friday that I am just going to let ride I think. Not sure if I want to try to slowly churn more premiums, or just free up the money for other trades.

Typical of a lot of new IPO's NIO has become the target of short sellers. IT's now a top 10 short holdings stock. A short squeeze would take a ton of volume to break the backs of the shorts, so I like people who posted selling the $6 naked Puts above 50 cents for short term.

I don't watch it much due to getting it to a net free holding but it has a head and shoulders pretty clearly. These don't mean as much on an IPO but it shows the short sellers determination.

https://www.dailymail.co.uk/news/article-6335887/China-factory-growth-weakest-2-yrs-slump-export-orders-deepens.html

Quote:

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China's economy has weakened faster than expected amid an escalating trade war with the United States, with analysts warning 'the worse is yet to come'.

The latest numbers show that China's manufacturing sector had barely expanded in October and missed expectations, as both domestic and external demand ebbed.

Analysts believe business conditions will get worse before getting better, fuelling concerns about a slowdown in the world's second-biggest economy.

October is the first full month after the latest US tariffs went into effect. Washington and Beijing slapped additional tariffs on each other's goods on September 24, and US President Donald Trump has threatened to hit China with more duties.

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With this being said, would it make sense to sell a naked put at this moment?

tailgatetimer10 said:

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With this being said, would it make sense to sell a naked put at this moment?

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A lot of head and shoulders get rejected and broken, so its hard to say if we hold above $6 or if that $5.50 mark gets retested. Selling naked Puts gets you at the $5.50 so that would be the way to go.

oldarmy1 said:

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Bought GILD weekly $69 on the selloff panic over some HIV drug competition.

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GILD Cup & Handle. Would love to get in the money today

Bought QCOM weekly $64 on the recovery from negative to positive.

Who was it on OSTK. What's the feeling on it here? A close above $19.91 close yesterday would form a bullish harambi. Worth a weekly sell of $20 naked Puts for $75 cents? If I sell 100 taking the $7500 premium I am good as long as it doesn't lose recent lows.

oldarmy1 said:

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Who was it on OSTK. What's the feeling on it here? A close above $19.91 close yesterday would form a bullish harambi. Worth a weekly sell of $20 naked Puts for $75 cents? If I sell 100 taking the $7500 premium I am good as long as it doesn't lose recent lows.

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My feeling is that thank God I remembered to put a stop loss on it at $35 back in June... That one hurt...