Yep - just got out of FLEX. Made a few bucks. Nothing to write home about, but I'll take small wins vs any loss.

JD largest volume spike since open. $35.50 major support all day. Popped 13 cents on the candle. Will see if that was a reversal signal or not soon.

oldarmy1 said:

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JD largest volume spike since open. $35.50 major support all day. Popped 13 cents on the candle. Will see if that was a reversal signal or not soon.

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Fingers crossed it's reversing

Energy finally nudging off lows. Our 3 CHK, SN, SWN flat after all morming negative.

Today's move on DOW and S&P did nothing to disrupt the potential wave down. S&P gave a great trade early to mid day and has topped out and struggling to hold up.

What put action are you on?

PPAag06 said:

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What put action are you on?

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SPY July 30 $279.50
Those in addition to onesd posted from last Friday

Trump just said he may have worked something out with Mexico on NAFTA. S&P spiked back up on that news. Entry time on the Puts

PPAag06 said:

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What put action are you on?

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i sold ROKU weekly this morning at a 48.50 strike.

I am holding some "powder" to see what what action looks like on TWTR thursday heading into earnings. Hopefully the IV jumps pulling premiums up too and I can sell some puts for a single day expiration for a big profit.

Ragoo said:

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PPAag06 said:

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What put action are you on?

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i sold ROKU weekly this morning at a 48.50 strike.

I am holding some "powder" to see what what action looks like on TWTR thursday heading into earnings. Hopefully the IV jumps pulling premiums up too and I can sell some puts for a single day expiration for a big profit.

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I love the TWTR reporting day for that very reason!

Your ROKU premium already making you money.

Lot of stocks broke out of their day bars. JD even broke above $35.61 resistance.

oldarmy1 said:

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JD largest volume spike since open. $35.50 major support all day. Popped 13 cents on the candle. Will see if that was a reversal signal or not soon.

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Just for my knowledge, today would not be a bullish harami on JD since it didn't end up above the opening price (even though it's up for the day still)?

Hey Ragoo - What is your sense on GOOG?

oldarmy1 said:

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Ragoo said:

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PPAag06 said:

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What put action are you on?

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i sold ROKU weekly this morning at a 48.50 strike.

I am holding some "powder" to see what what action looks like on TWTR thursday heading into earnings. Hopefully the IV jumps pulling premiums up too and I can sell some puts for a single day expiration for a big profit.

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I love the TWTR reporting day for that very reason!

Your ROKU premium already making you money.

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ROKU has been my favorite option play this year. The premiums are always pretty high and the stock moves up and down so much that a quick spike up kills put premium and a quick move down drives them up. So I am generally selling puts on down days and buying them back on up days.

S&P shot to just beyond days highs but failed

oldarmy1 said:

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S&P shot to just beyond days highs but failed

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Almost back to pre-announcement of NAFTA news. Anyone need some high % confirmation on resistance and likilihood of wave down....you just got something worth paying attention to....

oldarmy1 said:

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Hey Ragoo - What is your sense on GOOG?

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i don;t follow goog as it is outside a dollar range I am going to trade. if you have the buying power you could at an Iron Butterfly. sell the 1205 put and call then buy the 1255 call and 1155 put for protection. collect $3725 in premium and protection.

edit: and now the stock is trading well above my range.

Wow, goog with the big beat

leoj said:

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Wow, goog with the big beat

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Up $60. I caught $32 of the ride up. Weeeeeeeeeeeeeeeeee

GOOG earnings pushed JD to $35.82

26% rev growth. Apple and google continue to be absolute juggernauts. I keep holding off on buying individual shares because it already makes up 3-4% of my 401k etf but I may have to start rethinking that.

leoj said:

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26% rev growth. Apple and google continue to be absolute juggernauts. I keep holding off on buying individual shares because it already makes up 3-4% of my 401k etf but I may have to start rethinking that.

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Agreed

what goes up always comes down right?

I am a firm believer that GOOGL is one of the best stocks you can own. It's essentially a tech ETF their hands are in so many places.

If Futures hold we would break above top wave resistance. China has been open and nothing to upset markets. Iran bumped their gums but went silent. Could it possibly happen that the focus is actually on profit/loss tomorrow?

oldarmy1 said:

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If Futures hold we would break above top wave resistance. China has been open and nothing to upset markets. Iran bumped their gums but went silent. Could it possibly happen that the focus is actually on profit/loss tomorrow?

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Futures still quite green an hour before the open. Maybe the Barclays report of an estimated 5+% GDP growth in Q2 is helping

gougler08 said:

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oldarmy1 said:

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If Futures hold we would break above top wave resistance. China has been open and nothing to upset markets. Iran bumped their gums but went silent. Could it possibly happen that the focus is actually on profit/loss tomorrow?

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Futures still quite green an hour before the open. Maybe the Barclays report of an estimated 5+% GDP growth in Q2 is helping

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Your JD above $36.

Here's what I watch on days like today. Is the wave being broken to the upside or will we top out over these two days like the initial wave fake out? I do not know, which is why traders hedge. A single stock like my OSTK yesterday more than offset all of my hedge position losses because it's popped over $1.50 and I've already taken shares off to cover my Put options.

Those Puts were meant to reduce and/or limit my losses if the wave down hit. Now, that wave down could still happen. I mentioned the first wave and circled the jump above a natural curve in orange so its easy to spot. Today we already have short covering pushing the futures higher. Shorts fuel the opening minutes of trading. It's when those either run their course that we get that first initial pullback. We want to see shares power through that and hit new highs and not close below the open - on volume.

We have a ton of techs reporting that should blow earnings out. AMZN should be the key to seeing whether this is a "sell the news" top or if it juices the markets towards DOW upper resistance. Naturally there will be winners and losers, but if no sector leader bombs earnings we are set.

AVEO under $2 has been the gift that just keeps on giving. Two trades under $2. First one sells at $2.94 and 2nd at $2.75. If these work to over $2.75 the ROI beats the S&P over last 2 decades, all in the span of a few months.

Appreciate pointing it out!

Our 3 energy shares are at inflection points and appear to be trying to determine next levels.

Futures bright green, oil slightly up and they have no premarket activity to note. CHK is at a 5 day support and sits at $4 54 ask.

Thats either a gift or something is going on into their earnings, expected 1st week of August.

TWTR just dropped like a rock in early trading

Was away from the computer yesterday, but I put on a couple of trades.

1. AAPL $195 weeklies at .27. I'm out half at .65 and letting the rest ride.

2. I also bought AAPL $210 for 9/21 expiration at .81

Rationale: Somewhat a momo play off expected good earnings for goog/amzn. However, the chart for aapl looks fantastic it has been sideways for awhile between 189-192.5 (heavy resistance at 192.5), and gapped up over that this morning. Need to see this previous resistance be a support level.

I think the earnings report is going to reflect their big user purge

RRTS a long term hold for anyone? 2.40 seems low for where it's been lately.

oldarmy1 said:

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AVEO under $2 has been the gift that just keeps on giving. Two trades under $2. First one sells at $2.94 and 2nd at $2.75. If these work to over $2.75 the ROI beats the S&P over last 2 decades, all in the span of a few months.

Appreciate pointing it out!

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OA, is there any option play here or best to just buy straight stocks at or under $2 and ride the waves?

pacecar02 said:

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I think the earnings report is going to reflect their big user purge

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Friday is going to be something for TWTR, one way or the other