Can you post what you end up doing?

FTAC2011 said:

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Can you post what you end up doing?

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Way to busy to give play by play. I tried to give the signal I was looking for being the 30 minute mark for entry last night. That was exactly how I traded it.

Well right at the 30 minute mark I took an Option Call to tomorrow $84 Strike and have already sold it on the fun move to $84. Rolling out remainder to $85 Strike Dec 16th right as I type.

You see how that 30 minute rule is golden hour half-hour?

Stormtrooper - avoid eye contact with this post.

NVDA on 100 magnet alert.

oldarmy1 said:

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Stormtrooper - avoid eye contact with this post.

NVDA on 100 magnet alert.

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Boo! I already rolled up some more puts. In the money. Sold $95 puts for February.

Army, are you still thinking about buying GPRO?

I'm thinking the dive was from Fed interest rate rise concerns. ELLI provides software & services for the residential mortgage industry. Positives: Reported 45.7% year-over-year revenue increase.

0708aggie said:

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Army, are you still thinking about buying GPRO?

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Reading through these various class action suits as able. Not going to take anything until digested.

Nice on NVDA. You didn't do any options?

Maroon Stormtrooper said:

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Nice on NVDA. You didn't do any options?

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No. I'm an old Buy and hold guy and am just not savy enough with trading to up'em, down'em and plant'em. But I see that it's a very good strategy.

Buying and holding great stocks has worked out well for me. And I know TWTR and VRX aren't great companies but I see the potential in both. Plus the day VRX has its top exex's attested for fraud and the stock is still up, I'm betting about all this he bad news is out on that one.

Should we be worried about the rising dollar ?

redsox34 said:

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Should we be worried about the rising dollar ?

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Yes. It will adversely affect earnings of American multinational corporations but no effect on American companies that just sell domestically.

It will help foreign companies selling into the USA.

Weakening Chinese currency something to watch for also. Last time we had a correction was after the Yuan started losing value and there were fears of China slowdown.

MS breaking out

Question on a covered call I'm considering:

The brkb calls for next week, strike price of $150 are $7.45/$7.75 bid/ask. The stock is currently at $157.50. If I sell a covered call, the stock would have to go up $7 in a week for me to lose money. Correct? Seems like a no-brainer. Which is why I'm doubting myself.

cgh1999 said:

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Question on a covered call I'm considering:

The brkb calls for next week, strike price of $150 are $7.45/$7.75 bid/ask. The stock is currently at $157.50. If I sell a covered call, the stock would have to go up $7 in a week for me to lose money. Correct? Seems like a no-brainer. Which is why I'm doubting myself.

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If you are buying at $157.50 and selling the covered call for $7.50, the trade is pointless, no matter which way the stock moves. If the stock stays above $150, your shares will get called and you break even on your shares ($157.50 cost and $150.00+$7.50 proceeds). If it falls below $150, then your loss is based on whatever the price is below $150. So, in short, you can only lose money on this trade.

cgh1999 said:

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Question on a covered call I'm considering:

The brkb calls for next week, strike price of $150 are $7.45/$7.75 bid/ask. The stock is currently at $157.50. If I sell a covered call, the stock would have to go up $7 in a week for me to lose money. Correct? Seems like a no-brainer. Which is why I'm doubting myself.

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BRKB? That's not a stock symbol to my knowledge?

I believe he's referring to Berkshire Hathaway B shares.

Berkshire Hathaway Class B shares

khkman22 said:

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oldarmy1 said:

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cgh1999 said:

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Question on a covered call I'm considering:

The brkb calls for next week, strike price of $150 are $7.45/$7.75 bid/ask. The stock is currently at $157.50. If I sell a covered call, the stock would have to go up $7 in a week for me to lose money. Correct? Seems like a no-brainer. Which is why I'm doubting myself.

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BRKB? That's not a stock symbol to my knowledge?

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Spreadsheet updated - do not take stock advice from this guy.

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LOL. I was on BRCD at the time and threw BRKB in without even thinking about it.

Selling 35% of I (Intelsat) holdings to complete the "planted" stock.

Dang that $3.40 selling (bids ran giving fills down to $3.36) didn't mean to set an I top!

OA. Is Dow 19,000 a magnet? Any trading momentum once hit to the upside? Or is it a sell on spot and buy on dips?

Thanks for all your input on this thread.

One Tooth Man said:

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OA. Is Dow 19,000 a magnet? Any trading momentum once hit to the upside? Or is it a sell on spot and buy on dips?

Thanks for all your input on this thread.

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You technically get a "flash" rally when hitting the big round numbers. Amazing that psychology plays out even on stocks. Look at any of stocks in bull mode, NVDA, CAT, etc. that are on a similar track above $90 and all of them will likely hit $100 due to that one rule. Buying the dips on those sweet-spot zones pays off.

oldarmy, would you consider I a buy still?

redsox34 said:

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oldarmy, would you consider I a buy still?

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Resistance points at $3.50 and ultimately biggest long term trend resistance at $4. This recent dollar move higher is clearly stair stepping common of testing shorts with a squeeze. If it busts $3.50 you'd be clear to $4 otherwise an entry on pullback would be best. Not the first or second day of pullback. Look at stocks as wave action. Look backwards and you can see the amount of time between moves UNTIL/UNLESS it breaks the wave one direction or the other. THAT's when you go with it no questions asked, on a stock you want to be in.

You can see the mass volume which triggered my initial entry alert to the forum here for a reversal trade on March 2nd. Entering anywhere from there to the $1.85 mark resulted in a perfect anticipated bounce move all the way back above $4. When it came back and closed under $4 that was the exit. If I had sold half I would have already planted the stock "net free" on the easy double. But I chose to sell 25% and then use a $4 covered call strategy. I reloaded at the close July 28th on the double bottom probability from the Jun. 28th exact same price point. Those are what I unloaded yesterday to achieve the "net free" holding.

You can clearly see the Darvis Box mentioned on another post. Break that above $4 and it's a runner clear as a bell. It's not about "timing" the market like some people continue to beat like a broken record; it's education of fundamentals and technicals, to the point where you don't question the opportunities - you enter the trades in confidence.

I also posted CIE as a stock I have been accumulating and trading for a long term planted holding. It is working towards the upper end of the sideways range.

Here is an example where the initial large volume ended up only bouncing to fill the gap before moving lower. When a stock fills that pre-large drop gap decisions need to be prepared because thats when a stock fails or breaks higher (SEE AMZN current action on a larger scale). So when it failed I stayed in 100% due to the price point and long-term strategy believing the stock would eventually recover. You can see the volume coming back in during August and the rounded bottom giving me an entry. The stock gapped and made a large move (% wise) which I sold those buys into. Then another rounded bottom in September resulting in another easy trade to further reduce core holding price. Finally the gift that keeps on giving flashed down Nov 1st right to the previous low and I enter a 3rd time. I just sold those and am down to $0.12 core holding price. Notice the 2 cup and handles drawn and the first one failed. We are in the 2nd one now and are right on resistance as I type.

Clearly if it breaks that then we run. If resistance holds then we look to do it all over again. There is also end of year portfolio re-balancing that will kick-in on some under performing stocks into December. If CIE doesn't make a break out on this current test then you can pretty much count on another dip down into January.

CLF broke out of resistance. Core net free holding but I continue to trade it off similar wave moves illustrated above.

What is the deal with "Shipping" today? Anything that deals with international shipping has a min of a 20% bump today. Did something happen in the news that I missed?

AMZN didn't get a numb

CAT magnet to 100