Ranger222 said:

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reading this thread, feels like max pain is still to the downside rather than a relief bounce

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Or maybe we're just more seasoned that we used to be? Likely wishful thinking!

BrokeAssAggie said:

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$30,000 Millionaire said:

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Fear will be strong at the open

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You cutting those $438 calls at the open? I'm inclined to wait until 9:30 ish to see if we get a little bounce and maybe turn green or get back to even

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I'm waiting.

They will be near worthless right now anyway

Sure am glad I'm at a conference all week. Means I won't be sitting there watching my long account get beaten like a red headed stepchild.

VIX gonna have a hell of a blow off top coming once the relief rally comes along.

Long term... once we bottom how long do we bounce around before getting to say $SPY 460?

Selling call verticals with the volatility sounds juicy.

SF2004 said:

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Long term... once we bottom how long do we bounce around before getting to say $SPY 460?

Selling call verticals with the volatility sounds juicy.

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Just remember Mr. $18B exposure on 2/11 and 2/18 has what looks like the 4600c/4700c verticals long.

wow, 4320 was a magnet, already hit it, trying to bounce now

I believe the big money and institutions are going to wait until Wednesday to find out what Powell says. Until then, the bears will likely stay in control and it's anybody's guess where this beast will go. Some traders will bet on a "Turn Around Tuesday", but Wednesday is the main event for the market this week.

I do think that the outlook has a high probability of being good after Wednesday. The market is desperate for some good news and will pull out all the stops trying to spin whatever Powell says as positive.

I will continue to play the dark side today. If we get a bounce off these pre-market lows, I will trade SPY Puts and maybe a technology stock or two short.

Irish 2.0 said:

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Sure am glad I'm at a conference all week. Means I won't be sitting there watching my long account get beaten like a red headed stepchild.

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I was just about to post that some needs to wake up Irish because we need some Irish luck from that little lucky charm leprechaun SOB.

jj9000 said:

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BREwmaster said:

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Here's some levels (taken from Mancini tweets)...

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This is Mancini's last line of defense?

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for now... he originally posted, he thought a strong relief bounce would happen here, but then this: (and damn, we just plowed through the 4320). Bears in control here.

Extra note: Obviously 4320-30 is support but we are in a sell the bounce, market so would be cautious if bulls cant react at that level. Regardless, bulls need back above 4385 to get upside going (now resistance). 4320 fails fails, I would be looking to 4275-80, 4225 next down

— Adam Mancini (@AdamMancini4) January 24, 2022

Ranger222 said:

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we bounced? 4320 just cracked like nothing

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Yep, like an egg about to get scrambled... 4275, then 4225. trying to bounce now though.

You crack me up

tradingview shows 4311.50

Alright, which one of y'all broke the stock market?!

Dan Scott said:

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Damn. Somebody hold me and tell me everything is going to be ok.

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You'll be fine

premiums very high.

ProgN said:

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Dan Scott said:

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Damn. Somebody hold me and tell me everything is going to be ok.

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You'll be fine

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If y'all wnat to hang on like fanboys to that vertical that the SPX guys is holding, you can buy the 2/18 460c/470c vertical for $1.40 if you trade XSP... (Cash settled, wehre SPY is not)

small caps looking the best.

4320 level holding up still. not much of a reaction yet though.

$30,000 Millionaire said:

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premiums very high.

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Tech earnings this week, VIX high as ***** This is not the week to be buying premium if you don't have a sure thing.

Let's go ROKU, only thing green for miles

Anyway $BTI gapped up 3%

$COIN 180C small

SHOP 1000C small

very tight stop losses on both. LOD