JD just bounced

Thoughts on SQ? Seems to have bounced pretty well today, but heading down to test that 64.50 resistance soon?

Well those naked Puts were right at the intraday bottom......UNLESS

S&P with gaps. Now all arrows filled save that one that would result in a retest of previous lows. Unless something comes into play I am trading based on this being a 3-5 day pullback that won't retest. Note the repeating pattern from the biggest V bottom starting the correction. It had a hard V up then had a hard deep secondary 3 day V that came back up to challenge resistance and failed again into a retest low below the support line I drew.

Naked calls is how I'm trading this because even if we bounce after today or tomorrow the resistance remains. I want some decay to lock in profits on these on a V bounce but would not hold into expiration. Simply the safest trade right now.

Ranger - Would you ming looking at TLRY Options and let me know where you see the best value opportunity on a spread? Looking anywhere between $130 and $95.

No change in observations on NIO. Markets tank and it holds its head up above $6 with steady buying pressure.

It's gonna be a 2019 TWTR style mover. Would expect at least one more dip if markets retest 2nd gap but would rebound fast. If we get below $6 I'm all over selling $6 Naked Puts to punish market makers.

S&P intraday chart.

We have consecutive dread h patterns. Now we have a busy chart with a head and shoulders with right shoulder flag unless it fails. If that fails its gonna get nasty.

red/green reversal attempt just started .,....see if it follows through

Salivating over the ROKU huge gap at $55.71 once we reverse.

12/21 55Cs looking good to you? At .82, that's not a bad way to celebrate Christmas...

UpstateAg said:

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12/21 55Cs looking good to you? At .82, that's not a bad way to celebrate Christmas...

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Yessir! The reverse head and shoulders is where I posted selling naked Puts. Note all the huge volume spikes are green for the first time in a week. I'd say % opportunity is big here for the reversal sticking. HOWEVER - if you go shares you can always place a stop loss on new low. That's a pretty nice risk/reward play based on that chart now.

OSTK looks like its going to have a bullish engulfing candle today. Markets rebound further it will complete that with good upside.

For you more conservative traders wanting a trade SUM pull back on crappy market is a good entry

How does the materials business due in the winter? Maybe that's a dumb question. If it keeps trucking, the 12/21 15Cs might be worth looking at?

UpstateAg said:

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How does the materials business due in the winter? Maybe that's a dumb question. If it keeps trucking, the 12/21 15Cs might be worth looking at?

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If going options I'd get beyond December.

2748-2733 is range bound right now

and there is goes

edit : might be breaking out for the day

Dreaded h's replaced by successive reverse H&S on ROKU. Whether it reverses today this is what I look forward knowing we're close.

ROKU 12/21 55Cs just executed for .80. Make the BBOX shares that you came from proud!

that was dirty. It broke resistance with some momentum to take out a lot of stops and then fell back into range. I didn't trade it, but I probably would have been caught on that one.

UpstateAg said:

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ROKU 12/21 55Cs just executed for .80. Make the BBOX shares that you came from proud!

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May the lord grant you a 200% ROI

MNGA up over 20%.....late push could get interesting in after hours.

We have some nice capitulation going on in the markets. Hopefully that is a directional sign on the reversal. 10 point S&P swings on 10 minute marks.

NIO at $6.66. Someone buy a share and get it off that!

ok..there is a 10 minute down wave....lets see what we get here.

I almost pulled the trigger when we were at the top of that range that when I first posted, but I would have been stopped out also. Would have been a healthy little scalp.

FriscoKid said:

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I almost pulled the trigger when we were at the top of that range that when I first posted, but I would have been stopped out also. Would have been a healthy little scalp.

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Yeah, now we are testing lows and just hit a bounce. See if we double bottom but hate that pattern

MNGA big volume... $0.35

This feels like those movie scenes with a fight as a vehicle is about to go off the cliff.

wouldn't be surprised if it holds here and we close near the LOD. I think a rally into the close in the final hour is a pipe dream.

MNGA 36 cents

Capitulation into the close

leoj said:

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Capitulation into the close

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That's actually healthy. If we open up down big tomorrow, I could see us closing positive.

Dam broke