What's up with SUM? Had a rough couple days

E said:

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What's up with SUM? Had a rough couple days

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Green red reversal. Consolidation on breakout fail before trying again. Another stock that has made a big move this year, so cycles normal.

Macro markets making a run towards the last highs. Watch for 2820 on the S&P and most stocks will engage.

Pay attention to big stocks like AMZN that has been hanging around $1600's with last highs on the trend reaching above 1700. Note that it broke out of 3 day top and moving higher in anticipation of macro market trend breakout.

It's almost too easy right now. We spotted the 3 day pullback and entered the 2750 ES Puts - covered those as posted on the break below that and anticipated a continuation upward, which we are moving towards. This is why you enter your calls out 3-4 weeks and give the "setup" time to engage all shares.

V will hit $155...a guarantee

Anyone still in TEUM? On a roll right now.

boyz05 said:

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Anyone still in TEUM? On a roll right now.

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I got out this morning. Bought at 3.99 and rolled out at 4.54.

I'm happy enough

boyz05 said:

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Anyone still in TEUM? On a roll right now.

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I have several thousand shares but had sold a bunch more last year for a decent gain but dang I wish I had kept my commitment to what I was seeing.

It's a $10 stock

Well dang, I may have to get back in and wait to be even more happy.

CSX broke out of Darvis Box.....pre-trend signal flare going off for everyone!

In the "you can't read how markets will respond to everything" category I missed it on NVDA. I have net free holdings but not a single trade in it and it's also now breaking out of its sideways pattern upward.

And we just broke above the Nov 11 Top on the S&P which completes a 6 month reverse head and shoulders. An explosion upward to 2900, and then the only thing left is new all-time highs. Got to break out on volume to confirm but can anyone doubt that we have successfully navigated our way through a sell off V bottom and only now are buy and forever holders getting anywhere back to par?

Yeah, I'll take macro trading all day long.

USO breaking out of that little flag. I'm still watching the larger cup&handle.

Check out the AAPL call block $$ coming in.

ROKU down 10%

AggiePeeps06 said:

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ROKU down 10%

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Shorts coming into it hard right now.

Prognightmare said:

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AggiePeeps06 said:

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ROKU down 10%

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Shorts coming into it hard right now.

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Damn that's a big fall after that run up...will be interesting to see if it bounces back or consolidates more off this

Thoughts on NFLX? Seems to have stalled out after the good run up over the past couple months. Will it get back to that 400+?

gougler08 said:

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Prognightmare said:

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AggiePeeps06 said:

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ROKU down 10%

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Shorts coming into it hard right now.

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Damn that's a big fall after that run up...will be interesting to see if it bounces back or consolidates more off this

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If it rebounds any, I'm buying puts. It looks like it can go to 50.

If it dips below 30....giddy up

smartass

I bought some $65 ROKU puts yesterday to protect my profits from the run-up, so lucked into good timing there. The only question is when to take them off? Any guesses on where it finds support?

My guess is $52-55

Dobre casy said:

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I bought some $65 ROKU puts yesterday to protect my profits from the run-up, so lucked into good timing there. The only question is when to take them off? Any guesses on where it finds support?

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When do those puts expire?

Prognightmare said:

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AggiePeeps06 said:

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ROKU down 10%

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Shorts coming into it hard right now.

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^^ lol. what does that even mean?

Short sellers hit it hard at $64, but you knew that.

It could easily magnet to that 53.90 gap

Prognightmare said:

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Dobre casy said:

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I bought some $65 ROKU puts yesterday to protect my profits from the run-up, so lucked into good timing there. The only question is when to take them off? Any guesses on where it finds support?

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When do those puts expire?

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Mar 29th. I paid $1.20 since it was longer term, but I figured it was worth the protection since it ran up so much the last few weeks.

If they expired this week or next I would have said sell them at a profit and if it rebounds any at the open tomorrow re-enter some puts out another week or two. JMO

ahhhhhhhhhhhhhhhh......I subscribe to the theory that shorts can get squeezed and longs can get squeezed. Shorts cant push a stock down and longs cant push a stock up without "squeezing" the opposite party to go along with the move. That causes panic and huge volume. Panic can be a strong indicator of exhaustion or "peak selling / peak buying"

Makes sense, appreciate the reply! I'll probably hold for now and sell if we do see a dip into the mid-$50s.

OA,

If you get a chance ask around your other big fish friends what they know about SLDB. A fast money trader today at lunch said a big holder of this stock is buying more at these levels. I'm curious what you may know about it. I'm not familiar with it but I've added it to my watch list.

Would be a buyer of ROKU sub 55

Also believe NVDA is name to watch next two weeks....still a chance to get in at these levels before it heads to 190 and 210. Big green engulfing candle forming on the weekly, needs to hold next two days

https://www.cnbc.com/2019/03/13/boeing-shares-fall-after-report-says-us-expected-to-ground-737-max-fleet.html

Lesson for the day is take profits on options quickly. Just watched a very solid gain turn underwater in V weeklies.

That mistake officially makes you one of us.