Around 2530-40 it will tighten up the trailing stop, but that's just profit taking. Won't short again without a price stall or major volume. 2590-2600 should be strong resistance m.

Thanks!. I'm not hedging at this point until we hit 2520. In 401k's and SEP it will be either covered calls (for highest % gainers) or Puts. For trading accounts I slow bleed exit selling or sell deeper in the money covered calls. Example is NFLX. Entry $232.24 and I had target of $265-$270. I'll sell some shares at $260 and then once it hits $265 I'll see where macro markets are and if at or above 2520 S&P I'll sell a $255 covered call. If $270 then a $260.

MTUM $100 guarantee completed for those who bought in the $94's. That one I will sell a covered call $105 out 2 weeks.

Right now minimum gain on all stocks entered Monday is 3.4% with a high of 18.8% (non-penny stocks). Rubberband moves are when biggest % gains occur.

Happy trading!

Any thoughts on Philip Morris? Seems significantly oversold. I like the dividend and considering an entry. Just been smoked lately

Not expecting much fireworks today with option expiration, unless some budget reconciliation were to occur.

They have made significant investment in vaping (Juul) and legal weed as well. I added a bit to my position a couple months ago. I plan on holding it and seeing where it goes.

I think you guys are getting Altria (MO) and Phillip Morris (PM) mixed up.

You are right, I was talking about Altria.

ROKU off that V bottom line again today around 29.50...wouldn't be a bad entry point for short term calls with a quick hook if it drops far below that

gougler08 said:

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ROKU off that V bottom line again today around 29.50...wouldn't be a bad entry point for short term calls with a quick hook if it drops far below that

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Today's like today generally have great v bottom intraday opportunities in first hour. SQ presented a great one too. Dropped below $55 (big round number) on a flash before heading back up. It was my cheapo option trade $56's.

How do you keep up with all this from the road? Seems like you are on the move a lot. You have anyone working for you?

Your strategy of buys with covered calls is damn good. That performance metric on a long heavy strategy in the last 3 months is amazing. Not many people are making money long heavy in this.

claym711 said:

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How do you keep up with all this from the road? Seems like you are on the move a lot. You have anyone working for you?

Your strategy of buys with covered calls is damn good. That performance metric on a long heavy strategy in the last 3 months is amazing. Not many people are making money long heavy in this.

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I do have 3 people on staff who compile data and alert on key market points. Then I have a dozen fellow traders in a feedback loop. Going alone in the worlds biggest ocean would be insanity.

And thank you, sir!

I'll be out goofing off rest of today and no more Friday options. However, if you are a die-hard who will be watching then SQ, JD or Roku nickel priced calls at the closest 50 cent mark above current price would be low loss with gain opportunity. You'd want to see those before 12:30 because anything can happen. Markets could push upward towards or just above those 50 cent marks for a nice gain as long as it happens by 2 pm.

oldarmy1 said:

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I'll be out goofing off rest of today and no more Friday options. However, if you are a die-hard who will be watching then SQ, JD or Roku nickel priced calls at the closest 50 cent mark above current price would be low loss with gain opportunity. You'd want to see those before 12:30 because anything can happen. Markets could push upward towards or just above those 50 cent marks for a nice gain as long as it happens by 2 pm.

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My wife bought SQ calls and just texted me that she made $2500 in less than 30 minutes. Anyone take the pullback for a spin on either of the 3?

oldarmy1 said:

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oldarmy1 said:

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I'll be out goofing off rest of today and no more Friday options. However, if you are a die-hard who will be watching then SQ, JD or Roku nickel priced calls at the closest 50 cent mark above current price would be low loss with gain opportunity. You'd want to see those before 12:30 because anything can happen. Markets could push upward towards or just above those 50 cent marks for a nice gain as long as it happens by 2 pm.

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My wife bought SQ calls and just texted me that she made $2500 in less than 30 minutes. Anyone take the pullback for a spin on either of the 3?

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Added to my ROKU 31 calls for Jan 4 on the pull back

Well we hit 2520 and I got the text so I had an array of covered calls and sales planned before leaving late morning that were executed. Note the green/red reversal on the tops occurring at that time. NFLX crested $262 versus desired $265 but the 2520 overruled and the covered calls were executed.

Here is what I was sent when it hit 2520. Can you see the final breakout on volume pushed to highs right in sync with 2520 on S&P all green and then all red losing that last entire break upward movement? Put that in your short term resistance chart for NFLX tied to 2520.

Volume alert on MNGA

I was about to come and post this for the board.

Futures been as high as +25.

oldarmy1 said:

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BABA and JD likely to get a nice bounce

https://qz.com/1449041/a-complete-rundown-of-how-china-is-leading-the-retail-revolution/?utm_source=twitter&utm_medium=sr-paid&utm_content=twitter_feed

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JD went off that downward trend line again today, needs to break it and then maybe it can run for a while

gougler08 said:

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oldarmy1 said:

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BABA and JD likely to get a nice bounce

https://qz.com/1449041/a-complete-rundown-of-how-china-is-leading-the-retail-revolution/?utm_source=twitter&utm_medium=sr-paid&utm_content=twitter_feed

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JD went off that downward trend line again today, needs to break it and then maybe it can run for a while

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Yeah its likely gonna take the actual China trade deal to be real and you'll see a $5 jump on JD. A $15-20 jump on BABA and NIO will be back above $8

reverse head and shoulder....heading higher

oldarmy1 said:

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gougler08 said:

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oldarmy1 said:

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BABA and JD likely to get a nice bounce

https://qz.com/1449041/a-complete-rundown-of-how-china-is-leading-the-retail-revolution/?utm_source=twitter&utm_medium=sr-paid&utm_content=twitter_feed

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JD went off that downward trend line again today, needs to break it and then maybe it can run for a while

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Yeah its likely gonna take the actual China trade deal to be real and you'll see a $5 jump on JD. A $15-20 jump on BABA and NIO will be back above $8

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JD is pretty range bound right now between ~19.25 and 22.50...I dilly dalleyed this morning and didn't buy puts when it hit that 22.40 high mark and now look at it, damn

NFLX does look like it's trying to get through that downward trend line though

oldarmy1 said:

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reverse head and shoulder....heading higher

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Bought ROKU this morning in my 3 yr old son's custodial account.

gougler08 said:

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NFLX does look like it's trying to get through that downward trend line though

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NFLX and SQ were two largest buys in 401k's and SEP's. I can't thank the hysterics enough for those opportunities!

What was that last minute?

Huge net buy price/volume on 3 minute bar into the close. Largest of this correction.

claym711 said:

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Huge net buy price/volume on 3 minute bar into the close. Largest of this correction.

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I sure hope that wasn't a short clear out bear trap move. We'll know premarket Wednesday