jimmo said:

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I trade in an IRA
can't short stocks
assuming buying Puts can accomplish the goal here?
- Re: OAs Calls while also shorting stock

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Not exactly. One potential idea for you but this requires being able to execute based on the TA intraday.

If you would have bought ATM 437P when it turned today those were about $1.55. They closed at about $2.70.

You could use a portion of the gain to buy calls at the close for the same expiry with a higher strike in case it went back up.

If it gapped down the premium increase in the puts would easily offset the loss in premium of the calls.

If it went up then you would be able to exit the puts, probably still with a gain, and ride the calls.

If you just want to protect share positions then buy puts on your shares at a strike that you would be happy to exercise your rights on them. The only thing is in this case is if the share price goes up you will be out what you paid to buy the puts.

Hello All, somewhat new lurker to this board, been following since January and have been quietly watching every day. Would love to get someone's opinion on BRQS. Is it a potential goal post trade with high volumes on 2/11, and 6/30? Its right around the 52 week low of .81 so I would figure that would be a somewhat strong support area. One downside is the stock doesn't have any options. Looking forward to any analysis and feedback.

jimmo said:

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I trade in an IRA
can't short stocks
assuming buying Puts can accomplish the goal here?
- Re: OAs Calls while also shorting stock

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thanks, 30K & FJ, for the feedback
as always

bmoochie said:

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RenoAg said:

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MBIO below 3 again if anyone is looking to add for MA.

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what were the details behind this MA? looking to add another next to WWR as I only discovered this thread earlier this year.

or UWMC for that matter if anyone else has thoughts? Trying to decide on which one!

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MBIO inclusion predates when I started reading this thread. I have no idea why they're on the MA list. I'm assuming a legitimate explanation for its inclusion exists. I've never accumulated any of this one but I have traded it. No current position in it. Was just passing along the sub $3 point for anyone interested.

Today was probably a bear trap. Gap down tomorrow definitely a bear trap.

$30,000 Millionaire said:

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Today was probably a bear trap. Gap down tomorrow definitely a bear trap.

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That's probably right. Open red and BRRRRRR will close it green.

oldarmy1 said:

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McInnis 03 said:

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CrazyRichAggie said:

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What's the set up here?

I just gave you an advanced option strategy that has the potential to make you thousands. Even at 10 calls and 500 shares short you are positioned to score a huge gain.

If you have 50 calls or more and 2500 shares+ then at +0.70 on the short you can cover 20% to even the trade

— 2021 Opportunity Stocks Knock (@oldarmy1) July 13, 2021

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I never saw the bat signal to buy the 436c, and his methods are NOT for everyone, you can't even do it in an IRA or 401k....

but he usually does this...

1) Buy calls (ie: 436c here)
2) SHORT SHARES OF EQUITY ABOVE CALL (Short SPY shares above $436....probably .50mx worth, ie short 500 shares on 10 calls)

Ideally your short gains cover the cost of the remaining calls you're holding....you're playing with net free positions?

Am I wrong on that last part?

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This is correct. The risk on the trade was counting on that last wave above $436 after entering the calls when it was at $435.50. And depending on how many short shares you are able to short on your account I cover 15-20% of the short on the pullback banking $0.70/share and that makes the trade net neutral between calls held and short shares total cost. The trade is therefore 100% risk free. No way to lose even if it held exactly static (would be breakeven).

I haven't trusted these surges to new highs after $434 one bit. We'll have to wait and see if that Shooting Star FJ posted confirms at least a short term top. Several indicators on close I watch for is the large green candles that are like eye candy to traders. They think they are buying the bottom right now along with over 2M shares. The second is the two short trigger spikes we had. Those are generally to run off weak short holders ahead of a larger drop. We'll have to wait for all to confirm.

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How does someone utilize this strategy another way that doesn't involve shorting the SPY? I only ask this because I have no where near the liquidity requirements or account permissions (it's mainly an IRA) to short SPY, let alone 100 shares or even close to 500.

I saw this trade as a good counter to my Aug Spy Puts. I basically bought 4 of the weekly $436 calls you mentioned at $0.98.

Unless of course, you're able to short actual SPY calls? I think that's a thing - right? But still - shorting SPY calls that expire here on Friday gives me concern cause of the liquidity. I don't have the $43,600 in the event I get called out. Which I know is a small possibility at this point. I'm just comfortable knowing my entire loss position is basically $400 on these spy calls (assuming I don't get called out).

oldarmy1 said:

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McInnis 03 said:

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CrazyRichAggie said:

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What's the set up here?

I just gave you an advanced option strategy that has the potential to make you thousands. Even at 10 calls and 500 shares short you are positioned to score a huge gain.

If you have 50 calls or more and 2500 shares+ then at +0.70 on the short you can cover 20% to even the trade

— 2021 Opportunity Stocks Knock (@oldarmy1) July 13, 2021

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I never saw the bat signal to buy the 436c, and his methods are NOT for everyone, you can't even do it in an IRA or 401k....

but he usually does this...

1) Buy calls (ie: 436c here)
2) SHORT SHARES OF EQUITY ABOVE CALL (Short SPY shares above $436....probably .50mx worth, ie short 500 shares on 10 calls)

Ideally your short gains cover the cost of the remaining calls you're holding....you're playing with net free positions?

Am I wrong on that last part?

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This is correct. The risk on the trade was counting on that last wave above $436 after entering the calls when it was at $435.50. And depending on how many short shares you are able to short on your account I cover 15-20% of the short on the pullback banking $0.70/share and that makes the trade net neutral between calls held and short shares total cost. The trade is therefore 100% risk free. No way to lose even if it held exactly static (would be breakeven).

I haven't trusted these surges to new highs after $434 one bit. We'll have to wait and see if that Shooting Star FJ posted confirms at least a short term top. Several indicators on close I watch for is the large green candles that are like eye candy to traders. They think they are buying the bottom right now along with over 2M shares. The second is the two short trigger spikes we had. Those are generally to run off weak short holders ahead of a larger drop. We'll have to wait for all to confirm.

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OA

Would this apply in reverse. 2 eye candy candles of sell with the clearing ones for paper hands that followed?

Got my butthole stretched beyond the natural limits so far this week.

Already getting interesting.

4352 needs to not be traded under if you're a bull

FJ43 said:

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SPY View

Not that any of this heads for these levels but a quick rough view for y'all.

• Maybe we go to the moon.
• Maybe we pull back into the box in yellow.
• Around 428ish you can see that is an SR level and probably last layer up on volume profile. It is also close to the 21 EMA.
• Around 423ish you hit the next consolidation area and SR level. It is also close to the 50EMA.
• The gold line is automatic in a VP study which is the primary consolidation for the period between 420-416..
• Below that is a trade level I used over and over trading SPY about 416.32/40.
• Below that and last line of defense IMO is 410 where there is a gap with some help at 406ish then down to 398ish.

Again I have no idea what tomorrow brings but for me understanding how to play things up or down I need to look at the data on the charts.

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Closed below the upper trendline I have for SPX on the daily.



Touched the upper trendline on the SPX weekly chart that has a longer term trend.



Might get a pullback from here.

Most active flow today:$AAPL - 77% call flow$TSLA - 56% call flow$NVDA - 55% call flow$IWM - 52% put flow$AMC - 78% put flow pic.twitter.com/pvh3WBiWxs

— Cheddar Flow (@CheddarFlow) July 14, 2021

Here is $QQQ similar to what I did last night for $SPX. Predominant channels are in yellow.

25 year - monthly
Main channel begins in Fall of 2008. QQQ broke above that channel in June of 2020 and is now pressing the top of the highest channel. Hard to find a trendline above this one on the monthly.




25 year - weekly
Have the main channel from 2008 in yellow as well as another trendline beginning in October of 2002, which is the lowest point for QQQ. The Qs are pressing the top of this upper trendline. Might get a pull back from here with about 30 total points of room in the channel.



2 year - daily
For shorter term trend, I went back two years on the daily. The predominant yellow channel has a bottom trendline that starts in late June 2020, and top trendline of channel starts in early September 2020. We touched the top trendline today then pulled back.



Don't want to predict anything, but I would keep your eyes open if going long in the tech names from here. Seems like now is the last shot the bears have to pull QQQ back.

GTIAG09 said:

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Hello All, somewhat new lurker to this board, been following since January and have been quietly watching every day. Would love to get someone's opinion on BRQS. Is it a potential goal post trade with high volumes on 2/11, and 6/30? Its right around the 52 week low of .81 so I would figure that would be a somewhat strong support area. One downside is the stock doesn't have any options. Looking forward to any analysis and feedback.

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Glad you finally posted!

$0.81 looks like a safe spot to go long. Just be careful, looks like it's in a 4-year downtrend. If that $0.81 gives way, it has more room below. This thing is so sporadic I'm not sure how much trust you can put in the goal post setup. I don't know anything about the company. Use channel to build net free position since no options is what I might do if I was playing it.

SANTA CLARA, Calif., July 07, 2021 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, "Borqs", or the "Company"), a global provider of embedded software and products for the Internet of Things (IoT), today reported that construction of the Company's new manufacturing facilities in Huzhou, China has been completed.

For the first time since its founding in 2007, the Company has its own micro-electronics manufacturing line. Located at Huzhou South Taihu New Area of Zhejiang province, the facilities are intended to lower production costs instead of using contracted third-party facilities. Certain manufacturing activities will immediately be moved in-house. This initial phase has the capacity of up to 700,000 units of products per year depending on complexity, and can easily scale up as demand increases....

Esousa also grabbed about 11million shares of BRQS as of July. Not entirely familiar with them, but they also have a good amount of NAKD shares, NETE, and DPW, 2 of which I know have been traded on this bord. I do appreciate your insight on the analysis of the chart. Definitely makes sense when you zoom and and get the bigger picture of it

GTIAG09 said:

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Hello All, somewhat new lurker to this board, been following since January and have been quietly watching every day. Would love to get someone's opinion on BRQS. Is it a potential goal post trade with high volumes on 2/11, and 6/30? Its right around the 52 week low of .81 so I would figure that would be a somewhat strong support area. One downside is the stock doesn't have any options. Looking forward to any analysis and feedback.

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you can only lose 86 cents a share, so why not buy a thousand and see what shakes.

Some max pain numbers for your consideration

• SPY: 435
• QQQ: 362
• AMZN: 3470 (won't go there)
• AAPL: 132 (also won't go there)

Pay attention to $TNX. If this meaningfully rallies, tech will sell off. Tech is interest rate sensitive.

$30,000 Millionaire said:

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I am skeptical of today's gravestone doji / shooting star / reverse dragonfly candle. If I had to bet one way, I think the dip gets bought furiously and we shoot above 15,000 tomorrow.

If we do retrace, here are some fib levels to keep an eye on.

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Should we be fading you at this point?

Would have worked great the last few weeks, and I've suffered for it. We have low summer volume and well, nothing seems to be able to push the market down, even for a day.

Everything technical and macro screams overbought and extended.

I wish there was a way to quantify emotion, I feel like based on the last couple days we will rip tomorrow, but I'm also not positive about the market overall. Sort of in a wtf zone, not sure which way that takes us.

gig em 02 said:

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I wish there was a way to quantify emotion, I feel like based on the last couple days we will rip tomorrow, but I'm also not positive about the market overall. Sort of in a wtf zone, not sure which way that takes us.

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There is a way. That's what Elliott Wave is 100% built on. Using the mathematics of fibs to track market sentiment.

I really meant my own emotions about the market.