Stock Markets
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Last: 5 min ago by HoustonAg2014
Here's why:
https://www.cnbc.com/2019/01/15/theresa-may-loses-brexit-vote-in-parliament.html
https://www.cnbc.com/2019/01/15/theresa-may-loses-brexit-vote-in-parliament.html
Quote:
.K. Prime Minister Theresa May has lost a crucial vote on her Brexit plans in the House of Commons, the U.K.'s lower house of parliament.
Lawmakers from different political parties rejected the proposed Withdrawal Agreement, currently the only deal agreed with the European Union on how Britain should exit the bloc in March of this year.
Her deal with Europe is seen by some as a sell-out to the ideals of Brexit, reducing Britain's influence while staying within many of the EU's rules. And many of those who oppose Brexit didn't like the deal either. They have argued that it will reduce Britain's ease of trade with the world, repel global talent, and increase the cost of living.
The result creates a political vacuum in the Brexit process, with no firm certainty as to what might happen next. Potential outcomes range from a revised attempt by May to force her plan through, a second Brexit referendum or even a General Election.
An earlier amendment to the Brexit deal, giving the U.K the right to exit the backstop unilaterally was heavily defeated by 600 votes to 24.
In a final statement to Parliament prior to the vote, May had
2600 - 2625 is resistance area. Price has stalled here and remains in danger of rollover, but no indication yet that is imminent.
I followed along with that huge put order. Brexit vote just came out and big momma bear flag or the "v recovery" as has been talked about here is about to crack. Revisiting December lows would give us a double bottom and makes so much sense.
I'd be closing up trades and tightening stops for the remainder of the afternoon. Get ready to play defense. Don't lose profits that you've made in this upswing.
I'd be closing up trades and tightening stops for the remainder of the afternoon. Get ready to play defense. Don't lose profits that you've made in this upswing.
OA1,
what's going on with SWN and CHK these days? They've had a nice uptick lately. Is this short lived or here to stay for a while?
what's going on with SWN and CHK these days? They've had a nice uptick lately. Is this short lived or here to stay for a while?
Speculation with "improved" oil prices. Brent is up ~$10 since Christmas Eve. That's my thought at least.what say you said:
OA1,
what's going on with SWN and CHK these days? They've had a nice uptick lately. Is this short lived or here to stay for a while?
This flash down and bounce at 2597 seems rather bullish short term if it holds through today. 2597 is important.
Ranger222 said:
I followed along with that huge put order. Brexit vote just came out and big momma bear flag or the "v recovery" as has been talked about here is about to crack. Revisiting December lows would give us a double bottom and makes so much sense.
I'd be closing up trades and tightening stops for the remainder of the afternoon. Get ready to play defense. Don't lose profits that you've made in this upswing.
Great analysis and advice...really appreciate it.
Got some NFLX remaining after taking some profits from some shares earlier today...might now be doing the same with more of it, and for other positions as well.
MNGA seeing some movement
Not trying to get people fearful or change their strategies...we may well go right through 260-262 and up we go. I've just had personnel experiences of being caught with my pants down and lost a good chunk of profits on swift moves down when we are getting euphoric with upswings or reaching critical price areas. Just putting out the reminder to make sure things are cleaned up and you're ready if we do start seeing price action down. Its a staircase up, but an elevator down. As long as proper trade control is in place and stops are being used, no reason to not to let trades run.
Part of being a good trader is identifying the trade, but another part is managing it and thats one of my biggest takeaways from this past year. Hard lesson to learn.
Part of being a good trader is identifying the trade, but another part is managing it and thats one of my biggest takeaways from this past year. Hard lesson to learn.
Agreed, I think CHK will hit or outkick their expected earnings which should help boost the stock. They issued guidance that increased output estimates which is a good sign to me. That coupled with rising oil prices have me bullish.IrishTxAggie said:Speculation with "improved" oil prices. Brent is up ~$10 since Christmas Eve. That's my thought at least.what say you said:
OA1,
what's going on with SWN and CHK these days? They've had a nice uptick lately. Is this short lived or here to stay for a while?
SWN gets almost no revenue from oil so it's always odd to me that it's a favorite whipping boy whenever oil falls. Perhaps humans really aren't capable of rational decision-making. Investors certainly aren't.IrishTxAggie said:Speculation with "improved" oil prices. Brent is up ~$10 since Christmas Eve. That's my thought at least.what say you said:
OA1,
what's going on with SWN and CHK these days? They've had a nice uptick lately. Is this short lived or here to stay for a while?
I'm just pointing out what both seem to be correlated to. I'm not invested in it. CHK is likely a direct correlation
Oh, it's definitely correlated with SWN too - I'm just saying it doesn't make sense. NG prices have also been rising past couple weeks, but SWN's fall was timed with oil price, not NG, so I don't think it's unfair to correlate the rise with oil too. Market sentiment for the energy sector is tied to oil and SWN is a high-volume favorite for gamblers, I mean shorts, who know nothing about the underlying equity.IrishTxAggie said:
I'm just pointing out what both seem to be correlated to. I'm not invested in it. CHK is likely a direct correlation
BAC made .70 eps vs .63 expected. It's up PM.
BAC options payday! Whoop!!!
The BAC 26.5 1/18 option is the first option I've ever bought! Thanks to OA1 for your advice to grab it back on 1/2/19, and thanks to everyone else who posts on this thread as well!
I missed that one sadly. I did follow up on his SPOT call though
"Give me an army of West Point graduates and I'll win a battle. Give me a handful of Texas Aggies, and I'll win the war.”
- General George S. Patton
- General George S. Patton
There is a tiny gap on the S&P at 2637 from 12/13 to 12/14. Imagine Dragons target notwithstanding, if the markets create that flush out momo move upward that's where I would be looking for major exits/hedges on longs and entering some potential retest cheap Puts
What time frame puts would you look towards? 30 days out or shorter/longer?oldarmy1 said:
There is a tiny gap on the S&P at 2637 from 12/13 to 12/14. Imagine Dragons target notwithstanding, if the markets create that flush out momo move upward that's where I would be looking for major exits/hedges on longs and entering some potential retest cheap Puts
I'm selling into the opening option spike on BAC. Typically overruns what the settle gain will look like unless the stock continues to power upward. But these are options and options with 3 days of time value. Give me $1.75 plus on a small investment made and call it a homerun.
Always tough because only if you're correct on an initial downdraft will the shorter term options pay off. And even if the speculation is correct on the retest it might be after some sideways movement off an initial pullback. I'd personally play it by hoping for an initial downdraft on some weekly Puts and roll those profits into longer out of the money Puts 3 months away.snowmnag970 said:What time frame puts would you look towards? 30 days out or shorter/longer?oldarmy1 said:
There is a tiny gap on the S&P at 2637 from 12/13 to 12/14. Imagine Dragons target notwithstanding, if the markets create that flush out momo move upward that's where I would be looking for major exits/hedges on longs and entering some potential retest cheap Puts
All this against the backdrop that a China deal, a Border resolution, etc are sitting there as fire starters that will make the retest believers completely wrong. But that's what makes a market and thank good ness Puts exist to speculate just in case.
Raise exit another 10 cents on BAC calls
Wow, ok. I got fills $1.55-$1.62
BAC Grand Slam! Whoop! Now thats how you sale 200 calls!
Damn I got scared and got out of this a week ago.
Could have made 1k, but instead made $100 lol...ouch! Oh well guess I shouldn't complain about profit.
Could have made 1k, but instead made $100 lol...ouch! Oh well guess I shouldn't complain about profit.
OA, where do you see WYNN getting to? I got in on your suggestion. Right now it is up, just curious if it's time now to get out?
NKTR has been on a hell of a run the past month after getting beat down to ~$30 3.5 weeks ago.
We move above 1620 WYNN and SPOT will move towards the left sides of their larger V decline side. That would place WYNN $120 area and SPOT up as high as $140tramaro1 said:
OA, where do you see WYNN getting to? I got in on your suggestion. Right now it is up, just curious if it's time now to get out?
OA1, thanks for all your trades and knowledge you post in this forum. It is much appreciated!!!
This is what Ranger's twitter group is hoping for....see the blow out tops that are created giving exhaustion opening for shorts to pounce? Obviously this V bottom is different than the last two in size due to the precipitous drop we had into the lows. So naturally the right side of the V bottom is elongated.
Run SPOT run. SEE SPOT RUN!
oldarmy1 said:
Run SPOT run. SEE SPOT RUN!
I missed my option. Put in a limit buy and it barely missed damnit!!
"Give me an army of West Point graduates and I'll win a battle. Give me a handful of Texas Aggies, and I'll win the war.”
- General George S. Patton
- General George S. Patton
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