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FJ43
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5:48a, 5/20/22

Mornun!

Green around the horn....
US = Green
EU = Green
Asia = Green
VIX = 28.58

Some SPY levels I will be watching. In particular a rejection at 395.60 then 398.41. Could 400 be a magnet?
Lose 392.56 and well more OPEX fun.
The rough channel is something I played the trend range yesterday and will see if that holds true again today.



Let's see what the market does on open here. I will not be chasing a bunch of lottos today and will focus on winning the day with fewer trades.

For a possible lotto I posted on AMD. Its at resistance premarket. Needs confirmation over 99.21 IMO. The hope would be a flash down into the prior close, then I would play it to the upside with 100C or 102C. I bought a few 103s as a lotto yesterday that were red at close.

Remember lottos are hero or zero. Can go to zero or Valhalla quick so manage the trade as you see fit.



As far as yesterday....learn from the good and the bad and remember......



Trade wisely!
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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Brad Jerry Mitch
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6:39a, 5/20/22
I've made more money betting on clear favorites in college baseball than in my portfolio this year and that makes me sad.
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Charismatic Megafauna
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6:44a, 5/20/22
AG
Mornun fj!
Congrats bsg!!!
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FJ43
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In reply to Brad Jerry Mitch • 6:45a, 5/20/22
Brad Jerry Mitch said:
I've made more money betting on clear favorites in college baseball than in my portfolio this year and that makes me sad.
Are you trading or investing?
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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FJ43
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In reply to Charismatic Megafauna • 6:45a, 5/20/22
Mornun!
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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Brad Jerry Mitch
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In reply to FJ43 • 6:51a, 5/20/22
FJ43 said:
Brad Jerry Mitch said:
I've made more money betting on clear favorites in college baseball than in my portfolio this year and that makes me sad.
Are you trading or investing?
I have a grand total of $600 in a Roth IRA that I'm using to learn. I buy and hold for the most part and most days I don't have enough time at a computer to trade.

I just looked at my IRA and my Bovada accounts this morning and it made me chuckle.
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gougler08
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7:01a, 5/20/22
AG
Man this is crazy amounts of swing, just to total up to a "chop" week
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Red Pear Luke (BCS)
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In reply to Brad Jerry Mitch • 7:02a, 5/20/22
Sponsor
AG
Brad Jerry Mitch said:
FJ43 said:
Brad Jerry Mitch said:
I've made more money betting on clear favorites in college baseball than in my portfolio this year and that makes me sad.
Are you trading or investing?
I have a grand total of $600 in a Roth IRA that I'm using to learn. I buy and hold for the most part and most days I don't have enough time at a computer to trade.

I just looked at my IRA and my Bovada accounts this morning and it made me chuckle.


I'd recommend switching your learning to a brokerage acct so you can harvest your tax losses. And keep the ROTH untouched in terms of buy and hold. I used to do the same as you but lost out on all the gains even if it was $500 here and there that would build my Roth more.
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FJ43
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In reply to Brad Jerry Mitch • 7:03a, 5/20/22
Brad Jerry Mitch said:
FJ43 said:
Brad Jerry Mitch said:
I've made more money betting on clear favorites in college baseball than in my portfolio this year and that makes me sad.
Are you trading or investing?
I have a grand total of $600 in a Roth IRA that I'm using to learn. I buy and hold for the most part and most days I don't have enough time at a computer to trade.

I just looked at my IRA and my Bovada accounts this morning and it made me chuckle.
A ROTH is a great vehicle for retirement. Just keep putting in all you can and remember cash is a position. You don't have to have it al invested and its OK to sit on cash in your ROTH for the right opportunities of value.

Draw down on long term holdings is across the board for most/all in the present market. Don't feel alone in that. IMO this is a trading market at the moment not investing market. There will be a time to buy long and in some cases you can scale into long term value stocks along the way here a little at a time. You will want to have cash ready for when that occurs.

I suspect you have a long time horizon in front of you for retirement. If so just keep at it and apply yourself to learning how to manage what you own. Play small until then.



Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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BaylorSpineGuy
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7:03a, 5/20/22
5 trading days ago we opened around 3977. This market seems to want to be pinned around that 3980 number. We may see moves in both directions today so heads on a swivel.
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texagbeliever
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In reply to BaylorSpineGuy • 7:34a, 5/20/22
BaylorSpineGuy said:
5 trading days ago we opened around 3977. This market seems to want to be pinned around that 3980 number. We may see moves in both directions today so heads on a swivel.


Aren't we looking at opening at the drop point yesterday near close?
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Ccutamu
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7:36a, 5/20/22
We ended yesterday on the daily with a reverse hammer at/near the bottom of the downtrend and at or near levels of last March when we had a bounce. Does that bode well for a bounce today or is OPEX and just the general whirlwinds in the market make that a moot point?
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Bob Knights Paper Hands
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7:48a, 5/20/22
My gut says a nice green morning, including one of those lower volume but steady marches up, a little sideways during ET lunch hour, then a quick drop to get back close to the opening price and from there choose a direction. I'm not trading today, except maybe the close. Take care, friends.
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FJ43
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In reply to Ccutamu • 7:49a, 5/20/22
Ccutamu said:
We ended yesterday on the daily with a reverse hammer at/near the bottom of the downtrend and at or near levels of last March when we had a bounce. Does that bode well for a bounce today or is OPEX and just the general whirlwinds in the market make that a moot point?
I think today pins since OPEX. I could see SPY 400 but 395.60, 398.41 come first. Next week will tell more of the story IMO.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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Bob Knights Paper Hands
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In reply to Ccutamu • 7:50a, 5/20/22
Typically I don't see that as good for bulls. However, there's still a large put volume and we're way under max pain. I don't think we get to max pain, but I do think we move up to entice those put holders to close out.
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BaylorSpineGuy
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In reply to Ccutamu • 7:50a, 5/20/22
It wasn't quite an inverted hammer but sorta close. Volume was also kinda puny.

My guess is is we see some whip sawing motion today. If this thing closes near where we opened a week ago, people long calls and long puts will lose their premium.

Curious to see where price closes today but doubtful will
Be able to trade. Office this morning and surgery in PM. Can't trade Monday either :-(. So will watch and speculate.
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FJ43
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7:52a, 5/20/22

SPY 4 Hour view...

Yellow bars are my guess on potential ranges. The 3 red SRs in between are my trade levels long and short.

Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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BrokeAssAggie
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8:28a, 5/20/22
$394 rejected pre market
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irish pete ag06
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8:41a, 5/20/22
AG
Right back in the triangle

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BrokeAssAggie
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8:41a, 5/20/22
Trying to be patient to see which way we want to go..
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TecRecAg
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8:43a, 5/20/22
AG
I spent the $.02 on todays 410 call. Close as I'll commit to a poop slap 414 bet.
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BrokeAssAggie
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8:44a, 5/20/22
Fruit up against $140.
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Philip J Fry
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8:46a, 5/20/22
AG
SAVA doing SAVA things.
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irish pete ag06
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8:56a, 5/20/22
AG
Man... what a tight start.
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$30,000 Millionaire
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8:57a, 5/20/22
AG
No moves yet, up about $400 from scalping, waiting patiently.

TSLA looks weak.
You don’t trade for money, you trade for freedom.
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BrokeAssAggie
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In reply to $30,000 Millionaire • 9:00a, 5/20/22
TSLA weak and AAPL struggling to stay above $140
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$30,000 Millionaire
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9:00a, 5/20/22
AG
No SPX longs for me until we clear overnight high.
You don’t trade for money, you trade for freedom.
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$30,000 Millionaire
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9:04a, 5/20/22
AG
Wish I played bigger on TSLA short, but I'll take it
You don’t trade for money, you trade for freedom.
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BrokeAssAggie
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9:05a, 5/20/22
Think we are about to dump. picked up SPY $390 puts $1.40 entry.
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texagbeliever
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9:06a, 5/20/22
392 has been a strong hold so far for SPY. Not sure it can last if MSFT goes down.
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Spoony Love
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In reply to BrokeAssAggie • 9:09a, 5/20/22
AG
Nice timing on that play if you did.
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BrokeAssAggie
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In reply to BrokeAssAggie • 9:09a, 5/20/22
BrokeAssAggie said:
Think we are about to dump. picked up SPY $390 puts $1.40 entry.
trimming at $2 here. $390 support
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Chef Elko
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9:10a, 5/20/22
AG
https://www.bloomberg.com/news/articles/2022-05-20/tesla-is-no-longer-top-stock-in-cathie-wood-s-flagship-fund?srnd=premium&sref=HuYPILpU

Good news for all the ROKU guys on here
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$30,000 Millionaire
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9:15a, 5/20/22
AG
$1,100 so far today, but it's OPEX so I have sized way down. These are hard days to trade and you have to watch your wallet.
You don’t trade for money, you trade for freedom.
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TecRecAg
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9:19a, 5/20/22
AG
I'm a rookie at this... but a close at or above $390 today leads me to believe that we move up next week.
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