oldarmy1 said:

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Now I'm going to be out of the country next week so be sure on SQ pop Monday you get a bunch off the table because on a drop that large there will be some further volatility. Smaller traders take all of it on hitting in the money.

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Safe travels boss! thanks for the tips

oldarmy1 said:

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COOP back to $9

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You nailed it.

It kept going after hours too

Buckle up boys and girls. Tomorrow is gonna be a show. Yuan free falling. HKD will follow. Futures down. This last tariff may have worked a bit too well.

Futures not liking any of this

shiphunt said:

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Futures not liking any of this

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Nope. Not at all. I've got quite a few options that are probably screwed royally. Should be a 'fun' day. Fed might have to chime in before the end of the week. Give Trump his other 50bps

IrishTxAggie said:

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Buckle up boys and girls. Tomorrow is gonna be a show. Yuan free falling. HKD will follow. Futures down. This last tariff may have worked a bit too well.

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Isn't the HKD pegged to the USD? So, how does it free fall?

jwoodmd said:

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IrishTxAggie said:

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Buckle up boys and girls. Tomorrow is gonna be a show. Yuan free falling. HKD will follow. Futures down. This last tariff may have worked a bit too well.

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Isn't the HKD pegged to the USD? So, how does it free fall?

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I'm not well versed in currencies but this article explains some of what you asked.

ETE: The article basically says that a trade deal isn't going to happen at all.

Quote:

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"The fact that they have now stopped defending 7.00 against the dollar suggests that they have all but abandoned hopes for a trade deal with the US," Evans-Pritchard said

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Only good news is I got called out on TWTR last week so I have some cash sitting around...where are we looking to buy on the dip?

I'm not sure, this could be the beginning of another steep correction. The next few weeks will be interesting. In addition to OA on here, I'll be activating my push notifications on a few trading accounts that I follow on Twitter to get a feel for it. I'm long ROKU & OSTK stock but I don't think they'll be able to hold up long if this is the beginning of a correction. I may nibble on some SPY puts after the initial sell off at the open and into any rebound as a hedge.

IrishTxAggie said:

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diablo loco said:

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IrishTxAggie said:

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diablo loco said:

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ENPH you SOB you. We got a runner. Steak and whiskey tonight.

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Not to be a Debbie downer on you, but I just bought some 8/16 $25 puts on this after you said this. Just a few though.

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I'd sell some but my income tax bill for 2019 is already outrageous and I believe in them long term.

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I'd rather pay the taxes on gains than run the risk of losing the gains. That's just me though.

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thank you IrishTxAggie. For some reason this stuck with me and I sold quite a bit into strength last week tax man be damned. I sped up when Trump texted. I'm sitting on a nice pile of cash now. Thanks.

JD getting hit pretty hard PM.

Prognightmare said:

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JD getting hit pretty hard PM.

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Anything tied to China is going to be blood red today

Correct and if people on margin get margin calls and are forced to sell the downside pressure will exasperate.

401k to cash time? Short term at least..

SQ looking to puke at the open. Darn.

Can any of you technicians give me an S&P number to start nibbling on some stocks I want to own long term?

pfo said:

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401k to cash time? Short term at least..

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I have the same question for my stuff in mutual funds...is it worth pulling out for a week or two and then hopping back in when you factor in taxes and all that?

On the 401k side, i think I'm going to cash today

Today is gonna hurt on the options account...

IrishTxAggie said:

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Today is gonna hurt on the options account...

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Thankfully I guess, I'm out 11/15 or later at the moment. Do you think that's enough time to recover?

jwoodmd said:

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IrishTxAggie said:

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Buckle up boys and girls. Tomorrow is gonna be a show. Yuan free falling. HKD will follow. Futures down. This last tariff may have worked a bit too well.

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Isn't the HKD pegged to the USD? So, how does it free fall?

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Hong Kong is running short on their USD reserves. They've spent over 80% of their reserves to defend the peg while the wealthy in Hong Kong have been converting to USD.

If they completely deplete their reserves, they'll have to do 1 of 2 things; Hike rates, which will crash their markets or unpeg from the USD which will crash the value of HKD

mrad85 said:

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IrishTxAggie said:

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Today is gonna hurt on the options account...

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Thankfully I guess, I'm out 11/15 or later at the moment. Do you think that's enough time to recover?

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This week will be very telling IMO. China is acting like an injured, scared animal that is backed into a corner. Between this move and the unrest in Hong Kong, there's no telling what Xi may do. One of the biggest threats is that if the CCP loses control, they're all going to get double tapped. So they could very well do absolutely everything to maintain power. There is a lot more unrest in China than most are aware of because of the tight controls on media. Keeping in touch with people via WeChat is the only way I hear about a lot of things.

For those not familiar with the terrain of Hong Kong and China, here is an image and why I'm able to hear things from colleagues about some happenings that are closeby. The pin, Zhuhai is where our plant is. Just across the water from Hong Kong and I can walk into Macao (done it a few times). Honk Kong shares a border with Shenzhen. This is where a lot of the textiles and knockoffs are made. The concern and 'rumor' is that the Chinese police and military are amassing troops near the border in preparation for Lam to say she needs assistance. If that happens, it could make Tiananmen square look like a walk in the park.

gougler08 said:

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pfo said:

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401k to cash time? Short term at least..

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I have the same question for my stuff in mutual funds...is it worth pulling out for a week or two and then hopping back in when you factor in taxes and all that?

On the 401k side, i think I'm going to cash today

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I've had my 401K sitting in bonds fund the last month waiting, looks like a correction is coming.

pfo said:

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Can any of you technicians give me an S&P number to start nibbling on some stocks I want to own long term?

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I'm targeting 2750 on the S&P to start nibbling on long positions for my son's college account. JMO

mrad85 said:

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IrishTxAggie said:

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Today is gonna hurt on the options account...

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Thankfully I guess, I'm out 11/15 or later at the moment. Do you think that's enough time to recover?

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Which stocks?


ETA: and strike prices?

Love when I can't tell if it's Robinhood or my dog**** options that are telling the truth when they are priced at 1 cent every morning

OSTK going green

My sell orders got rejected as well.

Am I seeing this right??

NIO $5 1/21 calls are $.01 ?!?!??!??!?


Holy sh$& all options for NIO are $.01?!?!?