AggieMetal,

Will you post your referral code for tastyworks again? I'm going to officially make the switch!

sn down a buck today to 6.60


aggiemetal referral:


https://start.tastyworks.com/#/login?referralCode=75H99Q6WEV

thank you redsox for the support with that, great way to pay it forward (not that I'm seeking that for the advice but it definitely helps, but for the tastytrade/tastyworks people I learned my core strategy from and will always be eternally grateful to for giving me the tools to make a full time living at my #1 passion in life) if you are going that direction anyways of course

...you won't regret the technology, super low commissions, and customer service they offer (not to mention the education content through tastytrade and the 2 free years of Bob the Trader built into the platform where you can see other traders trades for ideas or direct mimic then alter strikes to your preference if you really like---great feature for new traders looking for trade ideas, also the trade grid filters help you find stocks with higher implied vol ranks, or that have had big moves etc

and thank you pacecar for posting, haven't visited this thread in a while, with markets constantly at these levels, volatility sucks and not much to post lately, I'm just making a living on "skinny pigs" for now but staying small and keeping powder dry for those nice vol spikes to load the guns (there have been a few like last week and and they certainly help but can't wait for some true, not insanely high, but sustained VIX levels b/w 15 and early to mid 20's hopefully at some point in time)

I was curious if oldarmy had posted in general market takes recently as we've had some really high volume (w/out aid of triple witching days) on days with record highs (ie i know 300million plus volume on $DJI is a key tell for him but curious how he takes it into context of this market----when I first started under his mentorship it was very rare to see those levels but we've had a lot of 300m plus dow days lately)

aggiemetal's referral link

also for any who have ever been through a brokers application, it's usually a really long overly convoluted thing to fill out (been years but my TDA one took a long time)

anyways tastyworks makes it really quick and easy on purpose and they don't make you jump through hoops to get certified for trading options/futures, in fact you don't really have to anything other than do your tastyworks application

...shouldn't take but 5 minutes or so and you'll be all set

• $1.00 (per contract) Options opening trade
• $5.00 (unlimited shares) Stock opening trade
• $2.50 (per contract) Futures opening trade2
• $0.00 (commission) All closing trades
  
  If you trade this adds up in a big way. I'm over $8000 in commissions with TDA for just over half the year. Minimum 65% off of that through tastyworks is going to be awesome (I'm awaiting them to have futures as /ES is my core vehicle before I fund my acct.) for my sole overhead.

Joseph Parrish said:

---

Ragoo said:

---

you with CRC?

---

Yep

---

Joseph, with the admission of money not coming online from other sources for several more months and the need for oil to be at $50 - with the highs of your stock being in the low twenties and now down around $8 - to be blunt, are y'all going bankrupt?

One Tooth Man said:

---

Joseph Parrish said:

---

Ragoo said:

---

you with CRC?

---

Yep

---

Joseph, with the admission of money not coming online from other sources for several more months and the need for oil to be at $50 - with the highs of your stock being in the low twenties and now down around $8 - to be blunt, are y'all going bankrupt?

---

Where did I say money not coming online from other sources for several more months? I mentioned we had some joint venture agreements that will accelerate projects that we would otherwise not be doing for several more months. That means more money now, less money later.

To answer your real question, I don't know that we can handle another prolonged dip into the $30 range. Not all areas we operate in need $50 oil. We have some areas with a much lower cost per BOE than that. $50 is just where we started throwing additional capital dollars into the business. The original intent was to be a growth company, but shortly after we spun off from Oxy prices crashed. You always have higher cost per BOE in growth assets as opposed to longtime established producing assets (which we have those too).

If you start seeing announcements that we're selling off assets, then it might really be time to worry.

I've almost made up all my losses on my biotech mutual fund

oa1, what are your latest thoughts on SN?

what say you said:

---

oa1, what are your latest thoughts on SN?

---

About the same but CRC 10 minute intraday chart is manic.

Wicked Head and shoulders on AAPL from end of march forming left shoulder to recent top new highs and last week forming right shoulder.

Any insight as to the macro market direction you would like to share?

oldarmy1 said:

---

Wicked Head and shoulders on AAPL from end of march forming left shoulder to recent top new highs and last week forming right shoulder.

---

What about that February shoulder? I'm pretty optimistic about Apple with a new iPhone release coming up. Let's hope they don't start exploding like the Samsung ones...

Joseph Parrish said:

---

oldarmy1 said:

---

Wicked Head and shoulders on AAPL from end of march forming left shoulder to recent top new highs and last week forming right shoulder.

---

What about that February shoulder? I'm pretty optimistic about Apple with a new iPhone release coming up. Let's hope they don't start exploding like the Samsung ones...

---

If you own it use covered calls or puts. If you don't then hope that it breaks $140 so you get a bite of the Apple below $125. Pun intended.

I read an article yesterday that said that a significant portion of institutional fund buys over the past two months have been in three stocks - AAPL, BABA, and FB

DOW off 150. That's how we roll!

Bonfire 1996 said:

---

I read an article yesterday that said that a significant portion of institutional fund buys over the past two months have been in three stocks - AAPL, BABA, and FB

---

50% of the S&P 500 gains this year have been from FB, AAPL, AMZN, NFLX, NVDA, GOOG, and MSFT. They are absolutely humongous companies. AAPL has a market cap similar to a mid-sized country's GDP. These 7 stocks also make up a significant portion of the QQQ's run up.

If you see them tip over the top, rest assured that the rest of the broader market will follow!

CRC continues to be manic. Something going on at a macro level for the company.

Im still new to this, what in the chart are you looking for?


[url=.html][/url]

He's looking for patterns and trading ranges while also watching volume for activity/support levels.

When you're close to the upper trading range, you'll see volume spikes of shares being sold for a profit (assuming it doesn't break through to new highs).

When you're close to the bottom trading range, you'll see volume spikes of support or shares being purchased.

This is a quick link to explain one of the most common patterns.

https://en.wikipedia.org/wiki/Head_and_shoulders_(chart_pattern)

pacecar02 said:

---

Im still new to this, what in the chart are you looking for?

---

There are macro and micro levels. Zoom out to a 1 year time frame for CRC and you'll see a massive Head and Shoulders.

so he's looking for a signal pattern and instead its reading pretty much garbage or no discernible pattern as of yet

Does lack off continuity in the graph signal anything? When there are large moves that breakout from the the rest of the plot points does it mean anything other than a big move up or down?

Good day to buy VIX as a hedge into the 4th. Generally its pretty quiet on Holiday trading but with the DOW near resistance levels its same selling of the tops. DOW today is traded right in the middle of yesterdays range, so it is a throw away day on directional.

pacecar02 said:

---

so he's looking for a signal pattern and instead its reading pretty much garbage or no discernible pattern as of yet

Does lack off continuity in the graph signal anything? When there are large moves that breakout from the the rest of the plot points does it mean anything other than a big move up or down?

---

You have to figure out what part of the pattern you think you're currently in. It's easy to tell once it's already happened. You could look at that and say that CRC is possibly creating the head of a reverse head and shoulders pattern.

Here is intraday CRC. Note the move back up after the selloff of 15% INTRADAY. See the volume selling hit when it rose back to resistance? And right now a bigger volume spike came in trying to stop the decline.

Also, if you're selling covered calls a volatile stock is not a bad thing. That's how SN was covered so often here. There were fairly predictable high and low ranges. CRC is just a little more chaotic.

VIX at $10.89 has you headed into the weekend at $11.18 with a high probability of at least an early pop to judge hold or take profits.

Happy 4th to all!!!

I thought CRC was California resources. Wondering why anyone would touch that right now. There are very few oil and gas stocks worth touching right now.

Comeby! said:

---

I thought CRC was California resources. Wondering why anyone would touch that right now. There are very few oil and gas stocks worth touching right now.

---

There's this one guy that made a lot of money that said 'be fearful when others are greedy and greedy when others are fearful.'

Worked amazingly well for me these last couple of years. I've been buying oil stocks.

Joseph Parrish said:

---

Comeby! said:

---

I thought CRC was California resources. Wondering why anyone would touch that right now. There are very few oil and gas stocks worth touching right now.

---

There's this one guy that made a lot of money that said 'be fearful when others are greedy and greedy when others are fearful.'

Worked amazingly well for me these last couple of years. I've been buying oil stocks.

---

I've made a ton of money on oil stocks in the last two years. But I've been very selective on which. CRC is not one of those.

Comeby! said:

---

Joseph Parrish said:

---

Comeby! said:

---

I thought CRC was California resources. Wondering why anyone would touch that right now. There are very few oil and gas stocks worth touching right now.

---

There's this one guy that made a lot of money that said 'be fearful when others are greedy and greedy when others are fearful.'

Worked amazingly well for me these last couple of years. I've been buying oil stocks.

---

I've made a ton of money on oil stocks in the last two years. But I've been very selective on which. CRC is not one of those.

---

Maybe, but my 300% gain happened with CRC. I'm not saying it's stable, but there are plenty of other oil stocks that are worthwhile right now and less risky. I'm betting that $50-55 oil is more likely than $27.

I drove San Antonio to Rockport yesterday on US 181. I noticed all the RV parks, man camps, and new motels that sprung up 5 years ago are now mostly empty and there are now a lot of For Rent signs on vacant buildings along the way. Is this a sign that oil has dropped to $30, or is it a sign the drilling/fracing frenzy is over? In other words, if oil moves back to $50-60 are we likely to see the local economies bounce back since most of the drilling has been completed? I saw lots of pump jacks sitting idle, but even when they run they are not the beehive of activity a drilling rig is.

These camps have been empty since early 2014.
Pump jacks don't always run continuously. They often sit idle while pressure builds.
Activity has been picking up in south texas.
Hopefully it is more gradual and not a mad dash to mAke as much cash as possible.
Hopefully many operators learned from this last boom, you don't need 20 roustabouts, pipe fitters and such with trucks running all day charging you while standing around doing nothing. While the company man also stands there watching. Too many cousins and brothers getting hired to be present.