ELOX testing 1.17 support and looking heavy.
mazag08 said:It's actually tough to tell.Aggie118 said:
Is now a good time to hop on Prog?
From my EW point of view, it's hairy. On the 1D candle chart, it looks to have just topped off in a 5th wave (that point becomes our larger degree wave (1) going up significantly higher into the future for another 5 waves). So we could expect a 50-61% retrace from today's high.
But what's tricky is that if you look at the hourly chart, there's a huge wick that got up to nearly $6.50 a couple weeks ago. And if you retrace that move from the bottom to 61%, you get where we bottomed late last week in the high $2's. So in that case, it could be argued that we already completed 5 waves up and formed our larger degree Wave (1), bottomed in our larger degree Wave (2), and today's action is actually the highly impulsive Wave (3).
But either way, today's move needs to retrace. If it gets down to the high $3's and reverses back upward, then we're likely in the larger degree Wave 3 still taking us to $9.00 sooner rather than later. If that move retraces into the low $3's or high $2's, then we are bottoming in the larger degree Wave (2) and about to start the ultra rippy Wave (3) taking us to $8 over a month or two. And if it resumes it's rip today and gets above $5.90, then something else is going on (but I would still expect a sizeable pullback).
Long story short, wait.
You will likely be able to get back in around the high $3's if not lower.
$30,000 Millionaire said:I don't know yet, want to see pricing tomorrow.CincySwimmer said:$30,000 Millionaire said:
I can't believe I'm going to get to sell puts in CLOV tomorrow.
I'm in. What are you gonna target? Dec 17 7.5p's?
I'm guessing that the Dec 7.5P will probably trade for about $1. I think I'd be willing to take those. If the 6P gets north of $0.50, I think I would be more inclined to trade that with larger size. Remember, this is a viable business.
I think you need to assess your objective on this.zwhag2010 said:
Anyone thinking on playing options on RIVN. I want to go long for a long term hold on this but my target entry was left in the dust as RIVN exploded. So selling puts would be my approach.
Ranger should be posting these in all bold, haha! killing it!Slappy007 said:Nice call Ranger! $400 hit, and the options are 5baggers.Slappy007 said:This looks great.Ranger222 said:
really really liking SNOW here....if the overall market can churn higher from here I think it'll take off and be a leader.
Was looking at OI....I'm thinking DEC 400 Cs could be a fun way to play with time
Stopped out on this. Heh.AG 2000' said:
Entered 11/17 VIX 16Cs.
Think we're bottomed.
Was just going to ask if good time to get in on CIDM.cptthunder said:
CIDM looks like it could be trying to put in a bottom here on the 5 minute
PSYCH!!!
I added a small aount at 1.80 and waiting to see if it pushed down to the 200 EMAagdaddy04 said:Was just going to ask if good time to get in on CIDM.cptthunder said:
CIDM looks like it could be trying to put in a bottom here on the 5 minute
PSYCH!!!
— Oracle (@OracleNYSE) November 16, 2021
INSANITYAG 2000' said:I think you need to assess your objective on this.zwhag2010 said:
Anyone thinking on playing options on RIVN. I want to go long for a long term hold on this but my target entry was left in the dust as RIVN exploded. So selling puts would be my approach.
Selling puts would probably be the play but who knows on strike.
For perspective:
BREwmaster said:Ranger should be posting these in all bold, haha! killing it!Slappy007 said:Nice call Ranger! $400 hit, and the options are 5baggers.Slappy007 said:This looks great.Ranger222 said:
really really liking SNOW here....if the overall market can churn higher from here I think it'll take off and be a leader.
Was looking at OI....I'm thinking DEC 400 Cs could be a fun way to play with time
Decent volume trying to bounce @ $1.60agdaddy04 said:
That's what I just did as well.
Lets hope its a cup completion at the $9.50 gap fill followed by some consolidation and then rocket in a few days/weeksagdaddy04 said:
What's got into NMG this morning?
agdaddy04 said:
do you always set stops?