Agree on the NFLX trendline. When it was pushing above $353 before earnings I got my covered calls in place at $335 counting on that getting broken on a pullback breaking below that $330 trendline. I think it goes back above it if the markets are green tomorrow and that's where I'll place a $350 covered call out a month this time.

On the banks - the earnings are going to get stronger so while they will dip as the market dips it would take a full on retest to get them to roll over now. I'd be a dip buyer on financials because they have a tail wind for the foreseeable future. I expect to see them breakout on trend from this 1 year+ sideways movement.

Heavy buy volume-price movement on the close today. Market def at rotation point. 2600-2625 support zone. 2680-2700 resistance zone. Dunno which way wins - Id prefer a bear market but know thats not a popular opinion . The close flipped shorter term trend config back long. Longer term likely to rotate long again as well

IrishTxAggie said:

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Picked up $22.5 weeklies for .2

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Cheap and if the China talks are mentioned tonight as continuing then this market pullback was a decent entry on a lot of stocks. I closed out about 60% of covered calls. I left them on stocks like SQ that didn't retreat hard enough. If I get taken out at $75 strike I'll deal with that then.

Not much capital risk on those calls versus the potential ROI.

OA and others: What do you think about regional banks?

I work for a regional bank, and most of my peers and I believe we are about to see significant M&A activity over the next year. In Q4, most regional banks saw their stock price drop 35 to 50%. This creates an attractive entry point if you're bullish in this sector. Some of the banks are now paying dividends over 3% with at least 15-30% upside even without acquisition premium.

FWIW, Cramer just had a segment on JD during his charting stocks portion of his show. He believes the stock has bottomed and if it breaks 24, then 29 should follow in quick order.

Getting my JF puts in order then. Thanks Jim!!!

https://www.marketwatch.com/story/trader-says-he-has-no-money-at-risk-then-promptly-loses-almost-2000-2019-01-22

Things didn't go as planned for this guy.

docaggie said:

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https://www.marketwatch.com/story/trader-says-he-has-no-money-at-risk-then-promptly-loses-almost-2000-2019-01-22

Things didn't go as planned for this guy.

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oldarmy1 said:

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Prognightmare said:

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FWIW, Cramer just had a segment on JD during his charting stocks portion of his show. He believes the stock has bottomed and if it breaks 24, then 29 should follow in quick order.

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Didn't I post that last week.

CRAMER! DUDE - At least name your sources!!!

JD $21.89 after hours

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Damn even I could figure that one out

docaggie said:

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https://www.marketwatch.com/story/trader-says-he-has-no-money-at-risk-then-promptly-loses-almost-2000-2019-01-22

Things didn't go as planned for this guy.

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If you want to see idiots losing their money and worshipping those who lost the most, go and head over to www.reddit.com/r/wallstreetbets

You will be quite entertained.

futures nice green pop with /es up .5%

IBM gap up top of my names to watch for weakness this morning. (Trade premise: market sells off good earnings and buy up bad earnings) Will attack on short side if trend starts to get weak or if tests the highs of AH/PM and fails during market open.

watching nflx with previously discussed plan of the 330 area.

watching SPY and uvxy/tvix (tvix-47$ level will be interesting if we get there) for washout (max/panic selling) and potential reversal.

SUM info for those who don't study sectors and stocks. Look at the buying.

In other Summit Materials news, insider Thomas A. Beck purchased 10,000 shares of the company's stock in a transaction dated Monday, November 19th. The shares were acquired at an average price of $13.97 per share, for a total transaction of $139,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Also, CFO Brian James Harris purchased 5,000 shares of the company's stock in a transaction dated Thursday, November 8th. The shares were acquired at an average price of $14.12 per share, for a total transaction of $70,600.00. Following the purchase, the chief financial officer now directly owns 72,584 shares of the company's stock, valued at approximately $1,024,886.08. The disclosure for this purchase can be found here. Insiders acquired 19,000 shares of company stock worth $263,060 in the last quarter. 1.50% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC grew its stake in shares of Summit Materials by 626.2% during the second quarter. Cubist Systematic Strategies LLC now owns 8,605 shares of the construction company's stock worth $226,000 after acquiring an additional 7,420 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Summit Materials during the third quarter worth about $168,000.

Bank of Montreal Can lifted its holdings in shares of Summit Materials by 42.8% during the fourth quarter. Bank of Montreal Can now owns 10,929 shares of the construction company's stock worth $136,000 after purchasing an additional 3,275 shares during the period.

Sheets Smith Wealth Management acquired a new stake in shares of Summit Materials during the third quarter worth about $230,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Summit Materials during the third quarter worth about $349,000.

JD $22.07 x $22.08

If those options are rockin' don't come a knockin'

IrishTxAggie said:

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Sold all my $22.5 weeklies when it popped to $.4. I've burned myself on options not being more didciplined and trying to turn a new leaf.

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Was that a 100% ROI in less than an hour of trading time?

Use 10% of gains and nab some $24 weekly at 4 cents

JD.com +1.9% as Goldman eyes solid user growth
Jan. 23, 2019 9:25 AM ET|About: JD.com (JD)|By: Jason Aycock, SA News Editor [url=https://seekingalpha.com/news/3425093-jd-com-plus-1_9-percent-goldman-eyes-solid-user-growth#][/url]
JD.com (NASDAQ:JD) is up 1.9% premarket following bullish commentary from Goldman Sachs, which sees user growth holding up thanks to management attention.
An encouraging sign is JD Mall's reorganization and comments from its CEO on refocusing on the user experience, the firm says, a move that could push active customers over 360M this year. Data point to a November uptick in monthly active users, and Q4 and Q1 guidance are likely to show 20% revenue growth, meeting expectations. (h/t Bloomberg)
The firm is maintaining a Buy rating and $41 price target, implying 89% upside.

Just about. Going to hold on to the equity for now. Looking at some more SUM options.

NFLX hit my $331 target for selling the $335 covered calls. God bless all in this house.

JD $22.50 at the money @ $22.50


2 200 option sweep buys at 40 cent area in last 5 minutes

I bought 50 $24 weekly at the 4 cents for any continuation and will look for $22.75 to sell my $22.50 calls taking the risk off the table with a grand slam.

UPDATE: Took 43 cents on a volume alert sell to the S&P just in case we topped out

NFLX perfect with plan, puts 320 puts up 40%

IBM re-evaluated upon strong open, grabbed some 130$ puts (up 20%) but IBM trying to push right now. will add if opportunity presents itself.


uvxy/tvix red to green, didn't have opportunity to play as I was busy with others.

wtf happened with TWTR today?

badharambe said:

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NFLX perfect with plan, puts 320 puts up 40%

IBM re-evaluated upon strong open, grabbed some 130$ puts (up 20%) but IBM trying to push right now. will add if opportunity presents itself.


uvxy/tvix red to green, didn't have opportunity to play as I was busy with others.

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Heck if NFLX keeps dropping I'm gonna be closing my covered calls again. They moved way down on the drop almost instantly from the entry.

I've have sold weekly calls against 90% of my ROKU holdings at a $42 strike. Used the proceeds to buy more. If we stay under 42 I will repeat for next week.

Ultimately, if the shares are called out I will own over 200 shares practically net free.

I have decided to take off some risk and work on trying to own net free in other companies.

will we get our first h pattern of the day, or will it get rejected with a pop move back upward?

Ragoo said:

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I've have sold weekly calls against 90% of my ROKU holdings at a $42 strike. Used the proceeds to buy more. If we stay under 42 I will repeat for next week.

Ultimately, if the shares are called out I will own over 200 shares practically net free.

I have decided to take off some risk and work on trying to own net free in other companies.

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There's the h pattern completed. Should break down

and did

Should we look into buying SUM now or wait for it to go down a little more?

Volume alerts as always stated are the most important technical indicator. It let me exit my calls on JD and others and reset some covered calls that have moved nicely off this pullback. We just had another volume flush come in on the buy side.

Plz bear gang. Lets go to the bottom.