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25,069,107 Views | 233828 Replies | Last: 21 min ago by 59 South
$30,000 Millionaire
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In reply to Bob Knights Paper Hands • 9:02a, 8/30/22
AG
Bob Knights Liver said:
I bought a few 0Dte SPX 4105C lottos for $0.05. I'll eat PBJ for lunch tomorrow if I waste that $16.
Lol
You don’t trade for money, you trade for freedom.
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wanderer
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9:03a, 8/30/22


Flashed below model T earlier and bounced. Wasn't able to get any 9/16 $55c filled.
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sts7049
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In reply to sts7049 • 9:04a, 8/30/22
AG
sts7049 said:
another touch last night of the top of this pattern

pattern broke down...
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9:06a, 8/30/22
AG
Now I'm waiting to see if this gets above 4020. Can't short here.
You don’t trade for money, you trade for freedom.
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BlueTaze
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9:07a, 8/30/22
Is 4020 lost?
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Bob Knights Paper Hands
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9:08a, 8/30/22
Lost low of day for SPX and QQQ. I don't feel like trading short here, but my longer-term account is likely this.
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Spoony Love
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In reply to BlueTaze • 9:09a, 8/30/22
AG
Didn't we just get below it? I would think we need 30 minutes to at least confirm that.
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Bob Knights Paper Hands
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In reply to $30,000 Millionaire • 9:09a, 8/30/22
$30,000 Millionaire said:
Bob Knights Liver said:
I bought a few 0Dte SPX 4105C lottos for $0.05. I'll eat PBJ for lunch tomorrow if I waste that $16.
Lol

Actually I'm eating Hutchins BBQ tomorrow. But on Thursday - that's the day I'll eat a PBJ as my penance.
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UpstateAg
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9:13a, 8/30/22
AG
closed out nvda put from yesterday. done for the day.
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FJ43
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9:17a, 8/30/22

Went short on SPY yesterday at 2:16 in the 405s

Just took those weekly 400P off here.

Now sit on hands.

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

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$30,000 Millionaire
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In reply to Bob Knights Paper Hands • 9:19a, 8/30/22
AG
Bob Knights Liver said:
$30,000 Millionaire said:
Bob Knights Liver said:
I bought a few 0Dte SPX 4105C lottos for $0.05. I'll eat PBJ for lunch tomorrow if I waste that $16.
Lol

Actually I'm eating Hutchins BBQ tomorrow. But on Thursday - that's the day I'll eat a PBJ as my penance.
Thanks for the invite.
You don’t trade for money, you trade for freedom.
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sts7049
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In reply to BlueTaze • 9:22a, 8/30/22
AG
BlueTaze said:
Is 4020 lost?
yep. we are holding at 4000 now, so if we don't get back over 4020 area soon we are going down another leg.
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Charismatic Megafauna
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9:23a, 8/30/22
AG
If i wasn't already loaded up I'd be buying crwd 9/9 calls right now
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Brian Earl Spilner
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9:27a, 8/30/22
AG
I have one final buy limit for TQQQ at $27.15, but I think I'm done with leveraged after that. Just gonna sit on my hands and wait for the recovery. And I do want to hold some of that probably for more of a medium term.

For long term I still have two buys set for QQQ and GOOGL at 300 and 106 respectively.

September may slaughter my portfolio since I've just about exhausted my cash but just gotta grit my teeth and take it like I did in June.
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9:27a, 8/30/22
AG
Ok progress so far.


You don’t trade for money, you trade for freedom.
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Bob Knights Paper Hands
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9:29a, 8/30/22
Look at that h pattern on AMZN on the hourly. Beautiful and horrible at the same time.
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UpstateAg
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9:33a, 8/30/22
AG
Ok. Lied. Bought and Closed out a SPY 398P for a quick 30%. Now I'm done.
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sts7049
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In reply to Brian Earl Spilner • 9:34a, 8/30/22
AG
i can't understand why you are going long right now
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Bob Knights Paper Hands
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9:35a, 8/30/22
About 4 min ago, I straight up shorted AMZN. Stop at $130.66, target buy to close at $122.85.
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9:36a, 8/30/22
AG
Little bit excessive on short time frame. I'll be looking for a bounce soon.
You don’t trade for money, you trade for freedom.
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$30,000 Millionaire
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In reply to sts7049 • 9:37a, 8/30/22
AG
sts7049 said:
i can't understand why you are going long right now
As opposed to at 4200? I don't think he's crazy.
You don’t trade for money, you trade for freedom.
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Brian Earl Spilner
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In reply to sts7049 • 9:38a, 8/30/22
AG
sts7049 said:
i can't understand why you are going long right now
To quote Tyrion, ask me again in 10 years.
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Dan Scott
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9:39a, 8/30/22
AG
Watch APRN. It's flagging nicely on the daily and coming up on resistance.
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AgOutsideAustin
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9:39a, 8/30/22
AG
Just checking in I see things are getting a tad bit interesting again……
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Triple_Bagger
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In reply to 59 South • 9:40a, 8/30/22
SPX lost 4000 faster than I thought it would. I sent you a DM with my Venmo for payment.
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Bob Knights Paper Hands
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9:41a, 8/30/22
Nice volume on AMZN the last ~10 minutes.
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59 South
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9:42a, 8/30/22
AG
Triple Bagger watching his chart right now....

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Bob Knights Paper Hands
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In reply to Triple_Bagger • 9:42a, 8/30/22
You should ask to collect in whiskey.
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Bob Knights Paper Hands
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In reply to 59 South • 9:43a, 8/30/22
Lol
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Bob Knights Paper Hands
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9:45a, 8/30/22
Watching the market is like watching a scene from Casino.
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Spoony Love
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9:47a, 8/30/22
AG
This is getting ugly. Where does it bounce?
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59 South
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9:47a, 8/30/22
AG
Wow slice trough the 50 SMA like butter.
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9:49a, 8/30/22
AG
This is going to snap back really quickly.
You don’t trade for money, you trade for freedom.
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In reply to Spoony Love • 9:49a, 8/30/22
AG
Spoony Love said:
This is getting ugly. Where does it bounce?
Around here.
You don’t trade for money, you trade for freedom.
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irish pete ag06
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In reply to irish pete ag06 • 9:49a, 8/30/22
AG
irish pete ag06 said:
irish pete ag06 said:
BlitzBrother said:
Sold 40% stocks late Thursday , hedged 100% of remainder - Basically looking out until midterms , think 3,950 in the cards as a minimum on S&P500 .
This is basically exactly what I did. I started a tad too early. I started 6-7 trading days ago. I also began entering SQQQ layering in over the previous 2 weeks. Maybe the biggest position I've ever had. Playing for the model T and for it to fall back into previous consolidation zones that roughly equate too 300-310 QQQ.



So on the SQQQ chart, I am targetting 47-50. Today allowed me to move my stop to break even after averaging in.

Before folks lose their crap about longing SQQQ and TQQQ, I am not keeping this forever. It's a swing trade. Not hodl'ing this.

I also bought $30 VIX calls for 21 Sep. I got into these too early as well. Downward moves (upward moves on VIX) happen so dang fast, I didn't want to miss it. These basically got back to breakeven today since I was too early. I still see more volatility upside, so I am holding, but plan to trim soon. Potentially tomorrow.


I'm still holding SQQQ in full. My target 1 for SQQQ is the 47-50 range, specifically 47.50. Target 2 is potentially in the 70 range if we make new lows. Plan is to sell half at target 1, then manage stop loss for the other half up to the 70 range. I'm using the megaphone pattern posted above as my final target, but I won't let this turn into a loser.

Currently up 9%. Have stop losses in place for +1% for half and breakeven for half that way I make a little jingle if it completely reverses against me.

Where I could have done better on this trade was my entry. I could have been more patient and layered in over more days to have a better cost basis.


Getting close


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