That looked like a v bottom on AMZN. Atbleast intraday

INVE picked a heckuva day to try its breakout!

oldarmy1 said:

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INVE picked a heckuva day to try its breakout!

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It keeps trying. Hopefully it'll break through today.

Anyone buying more RRTS here?

It's trying to get over 2877, just can't get there.

Ranger222 said:

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Had taken a chance on DBX shares as it appeared they bottomed around ~26.75, with 26.5 being the line in the sand. My stop on that trade triggered yesterday, but I'd be sure to be all out today. That thing is heading for 22s.

Luckily I'm green for the week by anticipation of rotation in some industrial stocks....played the pop in BA, HON and UTX that worked in my favor. Clearing out positions when markets were making highs also played into my favor. 2 - 3 months ago I would have held onto all positions trying to earn more with greed, and my account may have been ripped apart with this downturn. Now I'm sitting in ~80% cash just waiting for the opportunity. Happy with my progress but just shows there is a lot to learn more than just picking the right stock to play and you have to continue to learn and adjust your strategy.

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cut my losses on dbx and bought amzn in return.

Ragoo said:

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AggiePeeps06 said:

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How are you playing it?

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ive sold calls at $62 strike. It has moved over 60 intraday several times but always comes back.

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back to this post from a few weeks back. I bought these options back this morning on the dip down to $61. They expired tomorrow. maybe out with a little bit of profit and get to keep my 1000 shares. ROKU has rallied over $1 since then so seems to have worked out.

it filled its 1935 gap (amzn)

oldarmy1 said:

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INVE picked a heckuva day to try its breakout!

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Let's see if it gets a late day bump again...it's happened the last 2 days

2477

Ragoo said:

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Ranger222 said:

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Had taken a chance on DBX shares as it appeared they bottomed around ~26.75, with 26.5 being the line in the sand. My stop on that trade triggered yesterday, but I'd be sure to be all out today. That thing is heading for 22s.

Luckily I'm green for the week by anticipation of rotation in some industrial stocks....played the pop in BA, HON and UTX that worked in my favor. Clearing out positions when markets were making highs also played into my favor. 2 - 3 months ago I would have held onto all positions trying to earn more with greed, and my account may have been ripped apart with this downturn. Now I'm sitting in ~80% cash just waiting for the opportunity. Happy with my progress but just shows there is a lot to learn more than just picking the right stock to play and you have to continue to learn and adjust your strategy.

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cut my losses on dbx and bought amzn in return.

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Went with DBX puts at 23...I really should buy some AMZN and just let it sit but I keep talking myself out of it

Bought some more JD leaps at 75. Lowering my average down quite nicely. Bleeding everywhere else, but feel good about these

JD forming a bullish harami...fingers crossed it tries to fill those gaps over the next week or two

Prognightmare said:

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2477

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So everyone got it? Why buy most anything when a wave down is occurring and the gap hasn't filled? Save your capital. Go Puts or short if a pro trader.

Wait for gap to fill. Look for momentum to carry it on downward and then a v bottom OR LIKE WHAT YOU SEE today a double bottom around 2668. Enter shares or calls (i prefer weekly calls on a Thursday due to cheap entry) Take profits eliminating or lowering risk on initial move and then look for 2877 for likely continuation.

You'll note that once it broke that it became support on the next pullback. Clockwork!


Now here's the deal. This might reverse up a day or two, keep going as a wave up or be nothing but a bounce due to that pesky next gap left unfilled.

How I am trading it? I am taking profits along the way. I have zero plans to call out shares. I want to be empty of all positions hopefully on a bounce upward. But break 2877 downward and I'm not liking it.

If we get a nice wave up and shares come within eye site of recent wave highs I'll be 100% out of all calls and entering Puts out a month around this waves lows.

Why? Because gaps eventually get filled.

So what is the strategy in buying LEAPS? All a LEAP is is an option with an expiration date 9 months or longer in the future, right? Just curious if there is any difference in strategy and things to look for as opposed 45 day and shorter options.

Riding a long term trend using a smaller capital outflow to create exponential returns....For example in late January 2017 BA was trading at 160. 220 call options for January '18 were 0.78 per contract. Those calls hit $100 before expiration so $10k would have been worth $1.28MM. $10k of the commons would have only been worth $20k

aggiehunter3 said:

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Riding a long term trend using a smaller capital outflow to create exponential returns....For example in late January 2017 BA was trading at 160. 220 call options for January '18 were 0.78 per contract. Those calls hit $100 before expiration so $10k would have been worth $1.28MM. $10k of the commons would have only been worth $20k

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So in the case of leaps you aren't expecting the stock to trade at or above that value at expiration. You're just holding it until you reach an exit point that you're comfortable with?

TexasAg2017 said:

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aggiehunter3 said:

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Riding a long term trend using a smaller capital outflow to create exponential returns....For example in late January 2017 BA was trading at 160. 220 call options for January '18 were 0.78 per contract. Those calls hit $100 before expiration so $10k would have been worth $1.28MM. $10k of the commons would have only been worth $20k

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So in the case of leaps you aren't expecting the stock to trade at or above that value at expiration. You're just holding it until you reach an exit point that you're comfortable with?

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You can do it with shorter term options too, the stock doesn't have to get to your strike price to be able to sell...if you're happy with your take then you can sell at any time and get some value for the days remaining on the option as well. You're basically just trying to pocket premiums

gougler08 said:

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TexasAg2017 said:

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aggiehunter3 said:

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Riding a long term trend using a smaller capital outflow to create exponential returns....For example in late January 2017 BA was trading at 160. 220 call options for January '18 were 0.78 per contract. Those calls hit $100 before expiration so $10k would have been worth $1.28MM. $10k of the commons would have only been worth $20k

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So in the case of leaps you aren't expecting the stock to trade at or above that value at expiration. You're just holding it until you reach an exit point that you're comfortable with?

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You can do it with shorter term options too, the stock doesn't have to get to your strike price to be able to sell...if you're happy with your take then you can sell at any time and get some value for the days remaining on the option as well. You're basically just trying to pocket premiums

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I agree...I've actually had my best success buying options about 3 months out in liquid names.

Headed toward filling that 2nd gap. Options only. Get your capital back as quick as you can. Rinse repeat.

oldarmy1 said:

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Headed toward filling that 2nd gap. Options only. Get your capital back as quick as you can. Rinse repeat.

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I must be sleep deprived after a newborn...but where's the 2nd gap?

2868? That was the lowest low of yesterday

https://www.cnbc.com/2018/09/07/bank-of-america-says-buy-micron-shares-on-dip-because-of-the-favorable-chip-market.html

Good article on MU

Elon Musk smoked a joint during a podcast yesterday. Cramer just said that Elon appears to have lost his focus.

UpstateAg said:

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2868? That was the lowest low of yesterday

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Is that really a gap though? I thought it was where there was clear separation from one day to the next on the candle chart (including the shadows) but I could very easily be misinterpreting OA as well

gougler08 said:

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oldarmy1 said:

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Headed toward filling that 2nd gap. Options only. Get your capital back as quick as you can. Rinse repeat.

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I must be sleep deprived after a newborn...but where's the 2nd gap?

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2802.49

Hey, this could be follow through on gap fill yesterday. Unemployment numbers bit of a shocker sent futures lower but a dirty open recovering would be wave friendly.

AMZN has given back nearly all of its last trend move.

TWTR below its 200 dma

Well, in the bright side we have a gap on the upward direction now.

Lot of v bottom attempts early.

DBX big one

Entered a MU call before close yesterday, out just now. Taking the profits on Friday. Not making that mistake twice.

Prognightmare said:

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Elon Musk smoked a joint during a podcast yesterday. Cramer just said that Elon appears to have lost his focus.

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TSLA put premiums are outrageous...and appear to still be worth it.

INVE trying to break out again

oldarmy1 said:

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That looked like a v bottom on AMZN. Atbleast intraday

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Should I hang on to BBOX? 200 shares @1.48/share

And stupid DBX with the v bottom after I buy puts yeaterday