This is a selective market move today, actually since yesterday 10am.

SUM posts earning next week. REMEMBER THE HEDGE RULES.

How am I playing it? Well, on my 401k/SEPs I'm selling the $15 Feb 15 covered calls for $1.10 on 25-50% of all shares for a net $16.10 exit of non-long-term holdings, if it runs and I'm called out. I've been all alone on 100 of them across accounts so far. Would love a flash above $16 to get $1.25 on the other 22k shares making up the 25-50% (depending on whose account) left to enter.

I don't think I'll buy a Put hedge on the rest, although if we do spike above $16 and I can get the $15 Puts for $15 cents I'd be all over that.

Anyone who followed on PNC yesterday I calculate a 162% gain at $125 resistance for Monday. As it approaches there pick your % and do as you will.

FMC...now that's what a technical breakout looks like. Earnings in 10 days.

This is what we want to see from our others like CSX, although the cup and handle on FMC was even longer. Note the tricksy down flash yesterday to clear out weak hands ahead of the explosion breakout. Don't hate them - abuse them!

My dumbass sold all my WFT on wednesday...

So on a break out on FMC, do you look at buying feb 87.50/90 calls for a quick pop, or wait till it pops to resistance levels and look to buy 82.5 puts?

Colt98 said:

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So on a break out on FMC, do you look at buying feb 87.50/90 calls for a quick pop, or wait till it pops to resistance levels and look to buy 82.5 puts?

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I'd be inclined to buy Puts into earnings on the pop. The markets are due for a pullback.

Had a fun call with a bunch of other large traders and the common theme on why they are quick to take profits is they are waiting to see how the Democrats screw with the economy. Most said they would have been 100% invested if the House had stayed red.

Frankly all that is common sense and the bigger items of discussion was debt exposure to mid-size and start up leveraged entities. Interesting to hear though.

TEUM has been on a tear after it went from OTC to NASDAQ and had its initial drop.



I only own a few k shares after having a much larger holding. One I wish I had loaded back up on the drop.

For those interested in understanding MNGA

https://seekingalpha.com/article/4237508-magnegas-mnga-investor-presentation-slideshow

So wait and see if it pops to 87 range then look at feb 82.5 in the .50 range....?

Colt98 said:

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So wait and see if it pops to 87 range then look at feb 82.5 in the .50 range....?

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Yup

oldarmy1 said:

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For those interested in understanding MNGA

https://seekingalpha.com/article/4237508-magnegas-mnga-investor-presentation-slideshow

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They are literally turning pig crap into money

For you ES Mini hedgers now wouldn't be a bad time to position some 2600 level Puts. Basically $1k per right now and we would need to rip higher making your shares held much more than the $200-$300 drop on ES. But if we do top out for a pullback you can double it fairly quick.

And I only say that because of that intraday head and shoulders. Might be nothing but I bought the ES in equivalent amount on gains.

oldarmy1 said:

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Had a fun call with a bunch of other large traders and the common theme on why they are quick to take profits is they are waiting to see how the Democrats screw with the economy. Most said they would have been 100% invested if the House had stayed red.

Frankly all that is common sense and the bigger items of discussion was debt exposure to mid-size and start up leveraged entities. Interesting to hear though.

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The DemWits cannot do anything at this time and the RepubilCons are not much better. Personally I don't think it makes any difference unless the socialist get control of 60 votes in the Senate and control of the WH. Hell, the Dems had super majority control the first two years of Obama and the market soared and continued to soar over his 8 years.

Too much is put into which party is running the country as far as the stock market. They all are incompetent clowns. The RepubliCons are not much better. The eight years of "W" and Republican control we were in a secular bear market from 2000-2008. Zero return for the buy and hold crowd during his 8 years. Grid lock is probably the best case. I would worry who is running the Fed more than anything at this time. That is unfortunately the biggest issue. Personally I wish they would be abolished.

bought in mnga at 2.99

Markets rolling over on a Friday.

jayelbee said:

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MNGA had settled in at 3.25 pretty consistently for the day and just gave up 40 cents all at once on a huge volume spike.

Still trades like a penny.

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Equivalent to 2.5M shares sold on that big drop.

And at $2.90 equivalent to $0.145 pre-split.

Could markets do it 3 days in a row, including a Friday? Selloff in afternoon and then recover to crush the shorts?

oldarmy1 said:

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jayelbee said:

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MNGA had settled in at 3.25 pretty consistently for the day and just gave up 40 cents all at once on a huge volume spike.

Still trades like a penny.

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Equivalent to 2.5M shares sold on that big drop.

And at $2.90 equivalent to $0.145 pre-split.

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They had a deal with a private investor that purchased like $4 million dollars worth of shares at $.14, when it was trading around .20

I do not know when that deal went through, but I could see this as the floor.

E said:

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oldarmy1 said:

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jayelbee said:

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MNGA had settled in at 3.25 pretty consistently for the day and just gave up 40 cents all at once on a huge volume spike.

Still trades like a penny.

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Equivalent to 2.5M shares sold on that big drop.

And at $2.90 equivalent to $0.145 pre-split.

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They had a deal with a private investor that purchased like $4 million dollars worth of shares at $.14, when it was trading around .20

I do not know when that deal went through, but I could see this as the floor.

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Those aren't exercisable yet.

MGNA at $2.75. How low will it go.

30 minutes to close and ROKU is sitting right on the Keltner median on the 1 HR chart. Just under on the 30 minute chart.

If it holds I might by the 45 call for next week just before close.

It has been pumped up off of the mid kelt the last week.

SUM broke $16... perfect plan allowing perfect execution.

Still holding the $45 2/15 ROKU call.

if you guys want to play a rumor.......

SNAP Feb 7 C might be fun

Expiration date?

And Rumor?

Ranger222 said:

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if you guys want to play a rumor.......

SNAP Feb 7 C might be fun

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Funny you say that. This came across this morning.

I couldn't disclose for obvious reasons but the other large investors had major buys under $2.80 and at least one continued buying pressing it upward.

Check the minute chart on that move from $2.80 down to the $2.75 and back up volume flow.

EBAY also insane call buying all day. April 36 C. Some news on them moving on India market

Feb = monthly expiration, Feb 15

leoj said:

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Still holding the $45 2/15 ROKU call.

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i got in for 1.25 just before the buying into close.