Ok. If SPX can confirm over 3865 and QQQ over 290, we're going to run big. MSFT and TSLA calls might be a great way to catch that move.

If we don't break over those, then more chop.

Bob Knights Liver said:

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Ok. If SPX can confirm over 3865 and QQQ over 290, we're going to run big. MSFT and TSLA calls might be a great way to catch that move.

If we don't break over those, then more chop.

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Trying again. Do it. Do it.

What a massive, decisive rejection.

Im thinking about tsla puts if spy loses 384. It has been trading so tight since 10:30 I think the volatility will be at a bargain.

TQQQ continues to be a pain in my ass. Staying in the channel between 25.50 and 27 bit without touching either, which makes it useless to me.

Thinking we test the low for the day now.

Best case scenario is it dips to 25.45 then rips up and ends at 27+.

Karsan has been saying there is a window of weakness starting tomorrow. I think tomorrow also marks VIXperation. No idea how to trade it but market structure/mechanics, I believe, have played heavily into this narrow trading channel given all this "new" bad news circulating about.

Tread carefully but tomorrow may initiate next leg down with a weak close today.

I followed you on MSFT puts yesterday. Paid off today. Thanks for the idea.

spud1910 said:

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I followed you on MSFT puts yesterday. Paid off today. Thanks for the idea.

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you are welcome. Also since you probably had better patience then me and it paid off better for you, i hate you. (kidding glad it worked!)

That's how I take Vixperation when there's a huge call volume - if there's downward pressure but the market seems to hold up it could be waiting for Wednesday to really let loose.

Could TSLA god ahead and hit that 660 again for us by the close and get it over with? Thanks in advance.

spud1910 said:

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LOL. I thought your idea looked good when I looked at the chart, so I doubled down when they dropped. You may never speak to me again.

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That is rubbing it in.

BARKIN: EXPECTATION IS FOR ANOTHER ELEVATED CPI REPORT

— *Walter Bloomberg (@DeItaone) July 12, 2022

Priced in?

zebros_95 said:

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Priced in?

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guess so... no movement when that hit.

I was just thinking about this scenario for tomorrow. If we don't see a reaction to the above expectation, then it's priced in, is my opinion.

But what number do you think moves the market either way? If it levels from previous month I think that moves the market up. But I am not sure what moves the market down with the expectation.

Now, I don't think it leveling is a good thing since it still means we are paying more and if I am honest, we should see it get worse before year end. But if it is level with June, the market should react positively.

What a lose-lose situation we are in: "Yay, inflation stayed the same and we are paying more than last year!"

What is the real CPI though? It's got to be closer to 20% than 10% right?

Domed and doomed look, hold onto your butts (and puts). rounding formation since about 9 am central.

spud1910 said:

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LOL. I thought your idea looked good when I looked at the chart, so I doubled down when they dropped. You may never speak to me again.

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lol, just buy him a bottle of bourbon and he should cheer right up

Could have a retest of 383 & 3840 here shortly.

All I know is that the fed has made a tremendous impact on my ability to sell my house and move.

I do like AAPL puts. MSFT fell with big volume today. AAPL and MSFT haven't diverge in direction like they have today in quite a while. It could be some news on MSFT but just seems suspect to me.

GOOG & TSLA fell on Monday sharply. Maybe the institutions are spreading out the drops of the big tech firms?

See if GOOG loses 2320 here. Maybe it can drag TSLA down below 700.

Here comes poopy time

bmoochie said:

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Thinking we test the low for the day now.

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New LOD

BREwmaster said:

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Domed and doomed look, hold onto your butts (and puts). rounding formation since about 9 am central.

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going for retest of overnight lows maybe, 3820-3810 area.

out of puts, booyah! might go lower, don't have time to look though, nice quick 30% gainers on weeklies.

Brian Earl Spilner said:

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Best case scenario is it dips to 25.45 then rips up and ends at 27+.

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Well that's the first one down. Now we're getting somewhere.

Time for a rippy close? Gonne be real annoyed if the poop continues from here and I missed out on my profits by freaking $0.02.

TSLA! Your get back in there and break your LOD now!

Bob Knights Liver said:

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TSLA! Your get back in there and break your LOD now!

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Patience. GOOG broke. Just a matter of time.

Brian Earl Spilner said:

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Brian Earl Spilner said:

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Best case scenario is it dips to 25.45 then rips up and ends at 27+.

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Well that's the first one down. Now we're getting somewhere.

Time for a rippy close? Gonne be real annoyed if the poop continues from here and I missed out on my profits by freaking $0.02.

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what do you see that says reversal before close? if anything I bet we continue the blood into overnight (this is a strong move) BUT then reclaim 3800 by the open in the morning. Then rippy upward on **** CPI data.