tramaro1 said:

---

Let us know your locks OA!

---

I want V options at some point. Will be watching if it's a couple day consolidation or a reversal wave that might get it to lose $130. If we see below $130 just know I'll be buying $135 options out a week if a flash bottom scenario occurs or $140 strikes out a month to allow more time for working through the clutter.

Other financial stocks will be my trades as well. They have the best clear growth path over the next 2 quarters. Not as sexy as tech but more predictable, but will also be on the lookout for overextended downside techs and drug stocks.

Don't be surprised to see markets move up off of the negative open. Green candle Friday pushing upwards versus a shooting star means the bulls will challenge the selloff. Some early trader entries likely to pay off buying initial drop a few minutes after the open.

oldarmy1 said:

---

tramaro1 said:

---

Let us know your locks OA!

---

I want V options at some point. Will be watching if it's a couple day consolidation or a reversal wave that might get it to lose $130. If we see below $130 just know I'll be buying $135 options out a week if a flash bottom scenario occurs or $140 strikes out a month to allow more time for working through the clutter.

Other financial stocks will be my trades as well. They have the best clear growth path over the next 2 quarters. Not as sexy as tech but more predictable, but will also be on the lookout for overextended downside techs and drug stocks.

---

Sorry what stock are you referring to?

V = Visa

Other financials JPM, BAC, PNC, MS on any good pullbacks.

After filling the one tiny gap on the way up we should at least note that we have the same size gap at 2644 on the pullback that might be a pivot point if this is a consolidation only pullback.

We have our first h pattern on the minute charts, so watching that for technical follow through downward or rejection likely sets the tone for the day.

V has gone green

Anyone have thoughts on LRCX with their earnings coming into tomorrow AH?

IrishTxAggie said:

---

Anyone have thoughts on LRCX with their earnings coming into tomorrow AH?

---

Based on the juice in the option premiums I would ask Ranger for his spread special.

2nd h pattern fail on the day filled the small gap

Going for #3 now

So far its just an orderly consolidation day to move weak hands that don't hedge out of the shares.

Double bottom on that 3rd attempt. All this happening around the gap fill so the bulls are trying to make it a bottom low.

V continues to move up slowly. $139.50 would likely get some momentum past $140. Sometimes being right about a stock doesn't mean you traded it right. Friday calls at 48 cents are now 91 cents

So where is the SPX heading from here? Basically running out of room on this sharp upward wedge and it's gotta go somewhere...

Considering as over bought the market is at this time and resistance levels above, odds are that we are going down. It would be healthy for the long run if we made a move down and test some levels.

My trend configs flipped short today. Could be temp pullback, but I'm short.

Some sideways retrace would be nice as drill says.....not great for options except covered calls put in late last week. Makes those dreamy.

I bought the cheap $135 Puts on V hoping for a roll over to enter shares against risk free. It's come back some but need a continuation wave to get it there.

gougler08 said:

---

So where is the SPX heading from here? Basically running out of room on this sharp upward wedge and it's gotta go somewhere...

---

down would be my guess

Lovely h pattern day continues after a brief battle around the gap fill.

I bought JD calls due to the volume increase on this last move down to $21.80 area. Went with the $22.50 weekly at 24 cents. I also bought V $140 calls against my $135 Puts due to its coming down below $138. That's a good sandwhich for whichever way the markets trend this week.

And we just cancelled talked with China

not many big name e/r coming out, and depending on news, I expect the typically bearish wedge to be bearish. Do I expect us to retrace to the bottom of the "v" in a weeks time? not really, I believe the easy short money has been made and it will take a while before we test the current lows.

a few things I'm watchin / have a position in:

note:
50daymoving average - copper
100daymoving average - silver
200daymoving average - gold

fb - puts for a few weeks out around 130$ level (my cheapies play)

nflx- no current position but its testing the breakout of the difficult to distinguish megaphone/channel trendline (i believe its a megaphone, which is typically a bearish sign) and back under 200 day. (the overall story on nflx seems to be changing to a bearish tone, will post more on this later)



uvxy - calls for a few weeks out, I love the bottom trend continuation and divergence strength based around the 23% fib.

JD off big time today, presumably from Chinese growth data and cancellation of US-Chinese talks. Now to find an entry....



Edit: Have no idea how i missed OA1 discussion of JD above, thanks!

Buying back my covered call since a bunch of juice is out of it here around $323 and will wait to see if any rebound before entering a new one closer to the money just in case. I need another $5 down to reach my Put hedge so the premium decay and downward move on the covered calls were big.

Do you guys still think JD is a good long term buy and hold?

MAS444 said:

---

Do you guys still think JD is a good long term buy and hold?

---

Depends on how long Xi and Trump keep up their *****

Long as NFLX holds $320 I'll go without a covered call replacement today.

oldarmy1 said:

---

IrishTxAggie said:

---

Anyone have thoughts on LRCX with their earnings coming into tomorrow AH?

---

Based on the juice in the option premiums I would ask Ranger for his spread special.

---

RANGER BAT SIGNAL

What would be the options trade here.

This could be a short clear out pop occurring right now ahead of further retracement tomorrow.

Talks were not cancelled per Kudlow. Who is coming out with this garbage reporting?

leoj said:

---

Talks were not cancelled per Kudlow. Who is coming out with this garbage reporting?

---

If talks weren't cancelled then buying $22.50 JD before the close would be the bomb

leoj said:

---

Talks were not cancelled per Kudlow. Who is coming out with this garbage reporting?

---

Thanks for this alert leoj...When NFLX pushed past $325 I almost pulled the trigger on covered calls but that changed my decision.

nflx 330 level huge in regards to many potential future resistances if we can get back up there. The trendline above is around there, strong support/resistance is around there over the past 6 trading days, and its a mental level.

I am intrigued with the potential to short financials such as GS and BAC. They have had some of the biggest recoveries/bounces that jump out to me in a market scan. They seem like very good candidates for further pullbacks as they are extremely overbought and are near big moving averages, is there a fundamentals reason - besides decent earnings - that I should avoid it?

1 Million share buy in first minute after hours on JD jumped it 8 cents

Picked up $22.5 weeklies for .2