leoj said:

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Wow, lulu. Oldarmy you do anything beyond those previous calls?

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Sold them for a quadruple bagger..was thinking of calling out 20% of the shares but with the premium explosion I had to take the trade and then see if I can catch a wave cycle.

I'm holding my SPY puts over the weekend. No technical reason. I'm just stubborn.

JD like a rocket - thanks for the tip with stop area oldarmy1!!

AAPL...payday

Twitter going to hit a ceiling eventually?

Wow. You just buying calls?

So smarter people than me...did LUV just hit a support level at ~$50 or is that out the window with the recent issues they've had?

Better options out there right now than airline stocks. They're passed the PR problem (travelers have short memories) but the rising fuel costs will eat at them. They'll see a bump once the official routes and dates are released for Hawaii, but I don't see much movement before then. It will hover between $50-54 IMO.

Thunder Kootch said:

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KIM looks like it's close to breaking a reverse h&s. I'll be watching that one

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Sold my KIM shares today after a solid run

Was out of the office on Friday when ROKU touched $36.20 and thought I'd hold to buy in til it came back in that area...up to $40 now

Traveling but wanted to stop in and say this Dodds-Frank change is not sitting well on financial bigs. JPM, GS, BAC, C, etc all have big head and shoulder patterns forming over last 6 weeks.

oldarmy1 said:

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Traveling but wanted to stop in and say this Dodds-Frank change is not sitting well on financial bigs. JPM, GS, BAC, C, etc all have big head and shoulder patterns forming over last 6 weeks.

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Is that what it is Old Army? The big banks have been sucking but I couldn't figure out why. I sold all the big money center banks with the exception of keeping a half position in JPM. The regional and smaller banks aren't exactly blowing it out to the upside either. I sold down on those too and put all that bank money to work in the fastest growing small and midcap US centric stocks. That's what's working and in a booming USA, MAGA economy with rising interest rates, that's exactly what should be working the best.

gougler08 said:

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Was out of the office on Friday when ROKU touched $36.20 and thought I'd hold to buy in til it came back in that area...up to $40 now

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by stocks long, sell puts down to 36 at a $1.10 premium. If the price continues to go up you win and reduce the costs basis $40-1.10. Every $2 rise sell more puts at a higher strike price creating a ladder. Collecting more premium and further reducing your cost basis.

Can anyone recommend a few penny stocks to jump in just for fun? The higher the risk the better.

This is pretty much how all the financial charts look right now. Approaching support levels but that H&S makes me wary to enter. If financials break down it won't take long for the markets to follow. Thin thin thin. You want to trade possible support holding go options. A strangle would be a good option strategy as well because its likely to give a bigger move directionally out 3-4 weeks.

Check out a classic reversal signal on Encore Capital Group. You see the huge volume that initially broke it out of the trend and that retraced before continuing on to the highs. Then it had a huge volume day that broke it out well above the sideways movement BUT it failed and came back within the sideways resistance. That is a pure sell signal and it has headed south since.

Anyways - Just telling everyone that financials are taking a beating right now and best I can tell its the regulations being changed/proposed, higher interest rates lowering refinance activity and the like.

Oldarmy what site / trading platform are you using when you do the screenshots?

Thunder Kootch said:

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Oldarmy what site / trading platform are you using when you do the screenshots?

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That's an old dormant Tradeking platform. It's easier to screenshot charts from that than my custom systems.

BTW - My daughter shamed me this past week by buying JILL. I passed and take a look at what it did. She sold at the close today.

So the daughter entered JILL at $6.18 when it moved above the 4 day resistance May 30th. She caught a flyer and soley based her on two readings. The volume on May 30th was highest since April peak and it was peaking above resistance. In fact the entire chart is a lesson on volume trading. Look at each low finding major MAJOR support volume and then the higher volume on the breakout intensifying last week to much higher volume. A good trader could do worse than using those simple readings to enter or exit trades.

SnowboardAg said:

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JD like a rocket - thanks for the tip with stop area oldarmy1!!

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$40 area should prove to be some resistance but it sure shot up from entry.

Rebuying BPMX sold here below 24 cents

Just sold my JD at a 13.2% gain - was able to keep 35 shares net free based on the gain.

oldarmy1 - I owe you some drinks!

Just got access to trade crypto via Robinhood

COAg15 said:

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Just got access to trade crypto via Robinhood

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Yep...I believe that they opened it for Texas yesterday.

Here is my shameless plug for a free share is anyone signs up:
Robinhood referal

I was curious who else got crypto trading today. Now who's actually going to trade it?

Jim Rickards had a good point regarding Crypto in his interview here. basically, when it became available to short the price fell. Prior the only action was long positions.

https://www.theinvestorspodcast.com/episodes/tip191-jim-rickards-part-2-ai-global-finance-and-crypto/

I got it but I am not sold on buying it... 4Q17 I would have been all in.

As stated above, the ability to trade and short it will put a damper on the crypto trading in my opinion. The ones with really good technology will be home runs long term potentially, but I would need to know more about that to invest.

It would be more of a "put $1k in and never look at it again" type situation for me and hope it goes up.

Banks moving in a positive direction again.

I picked up some BAC 6/15 $30 calls earlier this week and they're sitting a bit above 2x at the moment. Sold enough to cover my entry and now for a bit of the waiting game on the remaining to see where things end up.


Also picked up some BPMX on OAs rec. Up $5 already! Planning to upgrade to large French fries at lunch today and celebrate (and to promote long term biopharma demand)

Extra large fries and lots of free ketchup!

I knew if I talked financial stocks being around support it would be an inflection point.

Banks bounced hard off the supports. Hopefully a bigger run as I placed strangles that are just now green and need juice to pay big.

I thought today's AMZN chart was interesting

still trying to get my chart reading/TA learning curve up to snuff

I don't think the daily chart is particularly relevant aside from this being the the first strong downward movement over the past few days, but I thought the formation were very apparent (left it off, but also a pretty strong V bottom)

once you buy it, how easy it is to transfer to other wallets? or are you not able to?

JD has been an awesome trade for me. One of my best so far. Sold half of my position today in July and September 40 calls to recoup what I put in, will let the rest ride to 42.5 (hopefully) and take some profits.