BMY buying Celegene.

A steal. I'll be getting out at a loss but time to move on. Wish I had added when it got under 70.

Well the AAPL news killed my MU calls off the engulfing candle

I bought ROKU Feb 15th calls 33 strike. They report earnings on Feb 18th.

Volume spike on MU, which didn't do anything

Didn't Apple get a tariff exemption too?

We are close to the trend line now too that started in 2008. We bounced really hard off of it last time.

AAPL news surprise followed by Manufacturing Index showing weakness. Expected, which is why markets are where they are.

The opening was weird because a lot stocks didn't have large drops and tried to push upward at the open. Allowed for entering hedges into some strength. I covered those hedges at the volume spike bottom and am entering new hedges at higher premiums out 2 weeks on this bounce above 2462. Now its a watch to see if 2350 clear support level holds through any flash downs.

I sold AAPL $140 Puts out a week. Will see if AAPL holds the big volume bottom just above $142 or fails.

Have to move quick when blindsided.

gougler08 said:

---

Volume spike on MU, which didn't do anything

---

You have a double bottom on MU intraday. Strong support there. If that fails look out.

BAC has handled over 600 point down move exceptionally well. If we recover it will breakout.

MGM popped this morning to exit the calls but I'm going back in because its relative strength continues its spiking.

Added another 15% to my AAPL position this morning.

ROKU already crossed it's average daily volume and it's not even 10:30.

Trying to run a bit

https://www.coindesk.com/overstock-will-pay-some-of-its-2019-taxes-in-bitcoin

Can't see this going bad...

gougler08 said:

---

So are we going to go through another dreaded h? Sure is starting to look like that pattern again

---

Yep, when the 12:10 candle broke lower that was it.

DIS looks like it has a very defined h coming...1/11 105 puts for me

Scratch that...went with MU 1/11 30.5 puts instead as SQ was above my price range

I just bought a craptastic amount of FMC close to $73 and here's how I'm gonna trade it.

If it goes upward from entry as I am expecting (hoping) with a rebound then I'll sell a $75 covered call before closing, because I simply don't trust the markets and have no clear path right now.

If we start to tank into the close I am selling a $70 covered call instead for over $4. That gives me a $1 profit if markets hold up and it rises but it gives me cover down to $70 where I can buy back the call if we spot a reversal on voluime.

How far out do you typically sell your covered calls?

clobby said:

---

How far out do you typically sell your covered calls?

---

In this instance the closest are Jan 18. Most hedges are weeklies but if I believe a downtrend is coming off a rounded top I'll go out as much as 6 weeks - depending on a particular stocks wave patterns.

Bought ALGN looking to scrape a few dollars on the late value buyers. Will enter a Put $1 below entry expiring tomorrow if fails.

On the positive side, NFLX is green today amidst the big downturn

Amzn going to fill the gap down to 1475? Getting close to breaking down from 1505.

Ragoo said:

---

Amzn going to fill the gap down to 1475? Getting close to breaking down from 1505.

---

Where do you see a gap? Am I blind?

Gold stocks flight to safe haven. JNUG leading

If we fall through LOD here in the next couple minutes it might sell into the close.

DOW might fall 1k today if that happens

FriscoKid said:

---

If we fall through LOD here in the next couple minutes it might sell into the close.

---

Fighting back at 2450

FMC has continued to recover above $73 so the solid support I had marked is showing to be good. I'm not going to place a covered call if we close up from there on that.

ALGN did a flash down and major volume spiked on it as well, so I'm liking entry for now. See how next wave down impacts all.

gougler08 said:

---

Ragoo said:

---

Amzn going to fill the gap down to 1475? Getting close to breaking down from 1505.

---

Where do you see a gap? Am I blind?

---

12/31 open? I am not too savvy on the TA though.

A lot of buying coming in now.

Ragoo said:

---

gougler08 said:

---

Ragoo said:

---

Amzn going to fill the gap down to 1475? Getting close to breaking down from 1505.

---

Where do you see a gap? Am I blind?

---

12/31 open? I am not too savvy on the TA though.

A lot of buying coming in now.

---

Value seekers flooded in for a nice initial push. See if there is big money behind it to rebuff the sellers last 20 minutes.

Ragoo said:

---

gougler08 said:

---

Ragoo said:

---

Amzn going to fill the gap down to 1475? Getting close to breaking down from 1505.

---

Where do you see a gap? Am I blind?

---

12/31 open? I am not too savvy on the TA though.

A lot of buying coming in now.

---

I've always assumed that the tails count as covering a gap (hence why OA tries to enter on them as they'll bounce back up/down) so I'd consider it "closed", but I'm no expert

It kind of broke in the last 10 minutes or so.