No problem, was just curious. I bought just one to continue playing around with options and got out on the 25th

Good deal. If you haven't seen my writings on trend rising shares above $90 the basic principle is that over 90% of the time shares will test $100. Big round numbers are psycholigical magnets to markets. They can't help themselves and you can use these to yur advantage strategically in planning exits.

Now that doesn't mean they top out at $100 but it generally does pause. Many times if momentum had just started the trend (say a stock that had been range bound in the high 80's to low 90's) then you get a further "flash" effect where a stock rockets through that psycological mark and jumps $1-3 dollars same day.

SoupNazi2001 said:

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The slow grind down to the 200 day MA in the last week makes it much more likely to break IMO. More volatile markets see the higher probability of the sharp bounce back which we had previously. Think we could see selling accelerate soon.

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Certainly not a convincing "bounce" so far.

Option premiums are ridiculous. Freaking $10 for out of the money Puts expiring TOMORROW! Was looking at a strangle trade but that wrecks shop.

Approaching major support. If you think it holds then here is where you are eyeing some call options ONLY THIN THIN THIN. Wonder how many people look up THIN as a symbol.

I bet we stop at ~2580

My guess is we eventually revisit 254 if not 253 on the SPY

Ranger222 said:

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My guess is we eventually revisit 254 if not 253 on the SPY

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I like the way you read charts! Took SPX as we approached and off we go.

Time to start another company with 3-4 on here?

Who owns Tastytrade? Is it publically traded?

Interactive Brokers and E Trade charts look strong

Tom Sosnoff and Kristi Ross are the co-CEOs of tastytrade, Inc., which includes tastytrade and tastyworks (our very own brokerage firm launched in 2017).

also Scott Sheridan

Dylan Ratigan is another name, he has a show on the platform but I'm unsure on the exact nature of his association/affiliation. I feel like he is more than just a host.

As far as I know they are not a traded entity

oldarmy1 said:

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Ranger222 said:

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My guess is we eventually revisit 254 if not 253 on the SPY

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I like the way you read charts! Took SPX as we approached and off we go.

Time to start another company with 3-4 on here?

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Ok - to correct my post from being busy I should have quoted Frisco because I was looking to enter SPX below 2600 and when I saw his post I went ahead and pulled the trigger because my planned entry was below that 2600 mark and his read was close enough to be in line.

I just sold the trade for an intraday bottom to current top. Owe you a steak dinner Frisco!

Selling naked OLED May 411h Puts at $6. Premiums are juiced both directions. A $6 drop from here would put it right on that major support line. Worse case it drops to challenge that and if I see I likely end up owning the shares I will buy a Put out a few weeks tomorrow around $80 just in case it breaks down.

Nothing big on this trade 100 options earns $6k in premium if earnings aren't brutal.

They don't call it "Major Support" for nothing! It's not imagined...its real and it provides much easier decision making for traders.

AMAT on watchlist

News breaking that Cohen's office was wiretapped a week before the raid.

Source of the news is Stormy Daniels attorney so consider the source. However, the markets immediately headed down slightly.

Yeah, but I thought it was all random and you can't predict it.

Please don't take that the wrong way. That comment was directed at people that poo poo the idea that you can read charts and get clues from them. That was on no way a look at me comment!

oldarmy1 said:

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AMAT on watchlist

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Make or break time on the $51 resistance (or further sideways)? If it breaks upward we're assuming 51 becomes a new support. Next resistance near $55 or lower around 52.5 if early April support becomes resistance.

Still new to TA and largely shooting from the hip

johnson2012 said:

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oldarmy1 said:

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AMAT on watchlist

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Make or break time on the $51 resistance (or further sideways)? If it breaks upward we're assuming 51 becomes a new support. Next resistance near $55 or lower around 52.5 if early April support becomes resistance.

Still new to TA and largely shooting from the hip

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For short term resistance you take the last high resistance mark which was $51.39. So $51.40 on volume to confirm.

oldarmy1 said:

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Selling naked OLED May 411h Puts at $6. Premiums are juiced both directions. A $6 drop from here would put it right on that major support line. Worse case it drops to challenge that and if I see I likely end up owning the shares I will buy a Put out a few weeks tomorrow around $80 just in case it breaks down.

Nothing big on this trade 100 options earns $6k in premium if earnings aren't brutal.

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this one has been as low as $82 in AH trading and now up to $91.95

I sold a couple of naked puts at $87 earlier this morning.

Crazy move. Listened to earnings call and guidance was better sending shares upward.

Bullet dodged?

oldarmy1 said:

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Bullet dodged?

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Does this mean I should go long on Smith and Wesson?

Berkshire bought 75 million apple shares in Q1, wow

oldarmy1 said:

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Crazy move. Listened to earnings call and guidance was better sending shares upward.

Bullet dodged?

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up $2.30 in pre-market. If it opens here I expect the options to decay and close out a winner. We shall see.

oldarmy, are your thoughts still the same on CHK? Still seems to be in consolodation mode. Pretty range-bound 2.82 - 3.25.



*Disclaimer - I'm pretty new to this, so if I say something ignorant, please correct me.

Dr. Faustus said:

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oldarmy, are your thoughts still the same on CHK? Still seems to be in consolodation mode. Pretty range-bound 2.82 - 3.25.



*Disclaimer - I'm pretty new to this, so if I say something ignorant, please correct me.

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Yes. Trump's "plenty of oil" comments sent the markets into another round of staging on these lower tier shares. Meanwhile CRC broke out and ran up like a rabid wolf. I own CRC but didn't add any more in deference to building long term positions in these 3.

Market is jumpy pre-market. This could easily move 500 points again today IMO. Day traders dream.

Ragoo said:

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oldarmy1 said:

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Crazy move. Listened to earnings call and guidance was better sending shares upward.

Bullet dodged?

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up $2.30 in pre-market. If it opens here I expect the options to decay and close out a winner. We shall see.

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bought to close shortly after the bell for a better than 60% winner.

I'm not making a call on SPY right now, but I would be surprised if we break out of that box higher. TGT 2 is the line to watch

Apple just hit $182. Getting close to 52 week high.

AMAT moving above recent resistance

.69 entry into those May 18 $54 Strike up to $0.86

buying puts here

Think we are at a resistance point?

Make that $1.04 on a clear breakout move for AMAT. weeeeeee