What an ignorant tweet. They pay little to no taxes because they invest all that money into new growth infrastructure. How is it their fault that the US Postal Service is a freaking disaster. Making Walmart more efficient is helping the country.

FriscoKid said:

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Do you always go that far OTM?

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Hardly ever. Only on oversold RSI around $50 shares on initial break. We have a $15 initial drop giving me a 50% retracement mark. Factor in the desire to be thin meaning leverage as many shares at lower premium invested and it all came to the $53 April 6 decision. I wanted until Tuesday for exit max.

Some others in the $20 range that showed a bottoming I took today's expiration tight to the strike. Much higher risk/reward that paid off this time. Again, only because of being at support would I ever do that.

SQ up $.89 cents

U.S. jobless claims lowest since '73

https://www.bloomberg.com/amp/news/articles/2018-03-29/u-s-jobless-claims-decline-to-lowest-level-since-january-1973?__twitter_impression=true

Removed, not relevant to thread

tailgatetimer10 said:

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This calls for a totally different thread and discussion but I'm pretty sure I've been paying sales tax for Amazon purchases.

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I had already deleted by the time you replied - it's politics thread

tailgatetimer10 said:

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This calls for a totally different thread and discussion but I'm pretty sure I've been paying sales tax for Amazon purchases.

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you have on amazon direct purchases if you live in a state that has 1) Amazon infrastructure or 2) made a deal with amazon.

Amazons third party marketplace isn't that far along though.

Jefferies out with $60 SQ target

Dr. Faustus said:

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Thank you for all the insight you've provided across this thread and others. It's truly an education.

I'm just starting to explore the options world - as in, I'm just beginning to do some reading to understand how they function and how to trade them. Any recommendations on good books/sources of information besides surfing around the web and reading articles?

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I've been doing this for over 10 years and I still struggle. There is so much to look at and not one magic bullet on training IMO. Online Training Academy had some pretty good tutorials for the mechanics of the different technical indicators. I never did their free half day seminar, but I still might. Recognize chart patterns. Lots of free stuff on that on the web. (But, not always perfect). I still think that was a nice looking bull flag in one of my screenshots from yesterday.

Set your stops and limits when you enter your trade like OA did on his trade. He's willing to risk 1 to make 10.

You remember how people could see what was going on in the matrix when staring at the green characters falling on screen. That's how I feel when I'm watching a real expert do this.

I have a friend that trades FOREX exclusively. When he started he practice traded for 3 months before ever making a live trade. He made 50 successful trades in a row before making that live trade. He turned 10k into 1.5M in about a year and a half. He will watch the chart for hours waiting for confirmation. Get in and get out in a few minutes and he's done for the day. I think he had something like a 10PIP target. This friend is the matrix reader to me. I have a lot of WTF moments when watching him.

I know OA doesn't "day trade", but IMO knowing what to look for with patterns, technicals, etc still apply.

Be patient and not greedy. You just want to ride the movement with the big boys moving the market. I get into trades too fast and stay with them for too long if they are going the wrong way. Set your stops and stick with them. My 2 cents.

leoj said:

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Jefferies out with $60 SQ target

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God bless Jefferies.

Ask at 67 cents on the 53 calls. Some of you capital building people should put a sell order at the ask or just below. Spread is huge right now as expected. 36 cents x 67

Tightened up now
.42 x 51

75% of all my options trades filled to sell. SQ waiting at 69 cents

oldarmy1 said:

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Ask at 67 cents on the 53 calls. Some of you capital building people should put a sell order at the ask or just below. Spread is huge right now as expected. 36 cents x 67

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why so many at .67?

Based on premium move we need $49.70 to fill 69 cent asks.

Looks like a consolidation wave intraday started. Gonna have to wait for next roll

Yuo...there it came. 70 cent flash drop.

So easy to see volume buy dry up anticipating shake out drop. Never disappoints

Back to break morning gap mark. Need rebound here. Certainly do not want to fill gap down.

Thank you for the insight and words of advice. To continue your analogy, I'm currently at the point where Neo is waking up in the real world and wondering WTF just happened to him.

Did a quick search and found some of OA's recommended reading for technical trading and options. I'll start there.

My "play money" didn't transfer to RH in time to get in on SQ, so left out on this one.

Anyone looking at the AMZN dip?

And there comes rebound move. It gets fuzzy on the technical from here until/unless we can break new highs. Do what you will with your trade. I'm gonna stick with plan.

Premium spread widened. That's a good sign for up

Somebody wanna post their robinhood referral code? I'm going to sign up today to check out the app.

https://share.robinhood.com/joelf216

Pm sent

http://share.robinhood.com/kevins29

Markets started that same consolidation cycle which is holding everything in place right now. It needs to re-engage and we'll make our definitive move.

anyone looking at AMD?

oldarmy1 said:

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Markets started that same consolidation cycle which is holding everything in place right now. It needs to re-engage and we'll make our definitive move.

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today is the last trading day of Q1. doesn't really seem like a "moving" day if you will.

Thanks guys. Used Cowboy Curtis' link since he posted first.

Yeah I jumped in at 9.80 worth actual shares and tried my hand at options 3 weeks out. This stock tends to make crazy runnings up to earnings

Window dressing towards mid channel of major support has held would not be out of order. While I'd like to see us out of most options today as long as we can close on a rebound I'll be happy to hold until next week. We'll lose around 10% on decay so let's say options close at 36 cents today that would equate to 33 Monday.

oldarmy1 said:

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U.S. jobless claims lowest since '73

https://www.bloomberg.com/amp/news/articles/2018-03-29/u-s-jobless-claims-decline-to-lowest-level-since-january-1973?__twitter_impression=true

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Quote:

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U.S. filings for unemployment benefits unexpectedly fell last week to the lowest level since January 1973, further evidence that the labor market remains tight, Labor Department figures showed Thursday.

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This news is tremendous. Effing media has to throw any kind of skepticism it can to thwart this economy.

FB making it's reversal today

tailgatetimer10 said:

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Yeah I jumped in at 9.80 worth actual shares and tried my hand at options 3 weeks out. This stock tends to make crazy runnings up to earnings

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sell covered calls?

15min S&P chart. I'm buying puts at the top of this channel and selling thin. I just don't see it breaking out high. Overall trend is down even before the trade war talk last week.