Aggie1391 said:

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So do they focus on stocks with lower premiums? And how far out are the calls and puts? I'm trying to determine if it's worth it if I start with a small amount of cash, and can't pay a ton of attention to the market most days

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Not worth it if you aren't paying close attention daily for sure. They trade 1-2 weeks out 95% of the time, and reaction time is very important.

Thanks. I guess I can always set up orders to take profits at a certain level if I decide. I'm gonna try and figure out a setup that let's me monitor the market better, and if I decide to go with it I'll reach out to get your referral code

Aggie1391 said:

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Thanks. I guess I can always set up orders to take profits at a certain level if I decide. I'm gonna try and figure out a setup that let's me monitor the market better, and if I decide to go with it I'll reach out to get your referral code

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oh yeah, there are a few guys who post charts before the day starts. If you follow them, you can set up your own alerts, and write a few orders to submit when things hit.

Just a little more pre-work

Don't they follow the same PDT rules?

jbeck3487 said:

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Don't they follow the same PDT rules?

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Robinhood disallows pdt because they are overly strict with a regulation for margin accounts. When I was under 25k in tda and in a cash only account, they let me day trade as much as I want, as well as same day expiry options (another Robinhood rule for no reason)

Not that it matters in this market environment, but just some good info

How much of the Indexes' increases to mid afternoon is attributable to people getting out of short positions for this Friday before they get hammered again like the last couple of Fridays? Is there a site that shows short volume to Dow or SPY including shorts to the index and shorts to the included stocks?

Interesting read on MW. Says the 10 yr bond yields are showing we are at or near the bottom.

https://www.marketwatch.com/story/the-stock-market-may-bottom-long-before-the-coronavirus-epidemic-peaks-analysts-say-2020-03-19?mod=home-page

NRD09 said:

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There more I think about it I think you're right. Made 25% on the runup and still have a lotto in case it decides to go Tesla tomorrow. Don't guess I can complain about that

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Yeah if it had been expiring next week, then it would be a real good score, but with it expiring tomorrow, it doesn't have much value left unless it's close or above the call price

Lots of stuff saying we are near the bottom...looks like we may start down tomorrow and if we end green in to the weekend, that seems like a really good sign too

gougler08 said:

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Lots of stuff saying we are near the bottom...looks like we may start down tomorrow and if we end green in to the weekend, that seems like a really good sign too

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I'd normally agree but I've run across this a few times today. Don't shoot the messenger. There's rumblings that there's going to be an announcement this weekend of a 7 day National shutdown and national guard troops will be deployed in some major cities. Personally, I don't believe it but the board should be made aware before trading ends tomorrow. I wouldn't want anyone here to get trapped in positions over the weekend. However, if it were to be true then I don't see a positive reaction from the markets on Monday.

Like I said, I think it's paranoia, but you never know.

Prognightmare said:

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gougler08 said:

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Lots of stuff saying we are near the bottom...looks like we may start down tomorrow and if we end green in to the weekend, that seems like a really good sign too

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I'd normally agree but I've run across this a few times today. Don't shoot the messenger. There's rumblings that there's going to be an announcement this weekend of a 7 day National shutdown and national guard troops will be deployed in some major cities. Personally, I don't believe it but the board should be made aware before trading ends tomorrow. I would want anyone here to get trapped in positions over the weekend. However, if it were to be true then I don't see a positive reaction from the markets on Monday.

Like I said, I think it's paranoia, but you never know.

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I do not believe Trump will take such action. But if they did, they'd have to close the market. No way in hell it would survive such a move.

i think we see another 5-7% off day tomorrow. no one wants to hold through the weekend. would be consistent with a slight up day today, down bigger tomorrow trend.

The market would sell off dramatically when it did finally reopen.

I've heard that rumor a couple times now...I don't really believe it but I guess it could happen

I found an old article from 2014 that looks as far back as the 70s showing how the SPY and 10 yr bond rates correlate. From the looks of it, it does appear that bond rates lead the stocks and looks to be a pretty good indicator. It makes sense too I guess since bond rates mean more inflation and therefore investors have to chase after the true value of shares more. Meaning more buying. It's cool to see it lineup in today's climate of trading as well.

On a side note the inflation in the 70s and 80s makes it nearly impossible to make out that the two are correlated. It's before my time, but wow that must have been fun to deal with as a trader, especially without a computer or internet. Lol

https://www.tradingview.com/chart/DGS10/p4kYTyBy-10-Yr-Treasury-Rates-vs-S-P-500/?utm_source=amp-version&_gl=1*1qm3bwy*_ga*SU9MVkZYaUlvVUYxYlRmSkEyUVhhMTFtVVpCZTlXbDBpMVppN0ZyRG9BbGVvbkFYSkh5YVlBQk5RWjVodGZnRA..

gougler08 said:

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I've heard that rumor a couple times now...I don't really believe it but I guess it could happen

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I'll be watching closely tomorrow because I planned on trading RH if we open down tomorrow but I wouldn't want to get trapped in a volatile stock over the weekend and I sure wouldn't want to carry calls over the weekend if an announcement came out like that.

Prognightmare said:

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gougler08 said:

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Lots of stuff saying we are near the bottom...looks like we may start down tomorrow and if we end green in to the weekend, that seems like a really good sign too

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I'd normally agree but I've run across this a few times today. Don't shoot the messenger. There's rumblings that there's going to be an announcement this weekend of a 7 day National shutdown and national guard troops will be deployed in some major cities. Personally, I don't believe it but the board should be made aware before trading ends tomorrow. I wouldn't want anyone here to get trapped in positions over the weekend. However, if it were to be true then I don't see a positive reaction from the markets on Monday.

Like I said, I think it's paranoia, but you never know.

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I've heard something similar a couple different times today as well. One source was a doctor, the other was about 5th hand info from a supposed secret service member. I wasn't going to say anything unless anyone else brought it up because it's so far out there and my sources are way too disconnected from me.

One of my local sources works for a high profile attorney and he told her that he received a letter notifying him of it this afternoon. Told her to make sure she had supplies that can last a week.

IrishTxAggie said:

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Prognightmare said:

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gougler08 said:

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Lots of stuff saying we are near the bottom...looks like we may start down tomorrow and if we end green in to the weekend, that seems like a really good sign too

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I'd normally agree but I've run across this a few times today. Don't shoot the messenger. There's rumblings that there's going to be an announcement this weekend of a 7 day National shutdown and national guard troops will be deployed in some major cities. Personally, I don't believe it but the board should be made aware before trading ends tomorrow. I would want anyone here to get trapped in positions over the weekend. However, if it were to be true then I don't see a positive reaction from the markets on Monday.

Like I said, I think it's paranoia, but you never know.

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I do not believe Trump will take such action. But if they did, they'd have to close the market. No way in hell it would survive such a move.

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Follow the money tomorrow. If its going to happen big money will find out.

That rumor has been spreading for quite a while

Exsurge Domine said:

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Awesome, I didn't know you could do that. Thanks for the info. I'm learning this stuff much quicker just diving in and peppering you guys with questions

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You've got big balls. Get on think or swim and use their paper trade option. You WILL Get smoked one day. I promise. Learn those Greeks. Try to buy longer dated options so theta decay doesn't hurt you. When you can afford it, buy delta 70 puts.

12thMan86 said:

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Exsurge Domine said:

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Awesome, I didn't know you could do that. Thanks for the info. I'm learning this stuff much quicker just diving in and peppering you guys with questions

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You've got big balls. Get on think or swim and use their paper trade option. You WILL Get smoked one day. I promise. Learn those Greeks. Try to buy longer dated options so theta decay doesn't hurt you. When you can afford it, buy delta 70 puts.

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Yep, I learned about theta decay the hard way today. Luckily I made a few thousand bucks on a quick in and out of Disney and Wynn, and then lost everything but like $1200 on a 1 day spy call. The easiest way for me to figure out what is going on is just to dive in, but if you have any good study guides or books to read I'd appreciate that

Shutdown brought to you by Bill Ackman.
Trump said "we weren't even close" to Federal shutdown couple days ago. This is just the left pressuring him and spreading fear.

RGRAg1/75 said:

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It's totally contrived. Nothing of the sort is in the works. State's being given authority. No national-level plans of forced quarantine as of right now.

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I 'm in this camp. I don't see how it would even be feasible but if it's out there it affects the markets and wanted everyone to know.

Exsurge Domine said:

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12thMan86 said:

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Exsurge Domine said:

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Awesome, I didn't know you could do that. Thanks for the info. I'm learning this stuff much quicker just diving in and peppering you guys with questions

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You've got big balls. Get on think or swim and use their paper trade option. You WILL Get smoked one day. I promise. Learn those Greeks. Try to buy longer dated options so theta decay doesn't hurt you. When you can afford it, buy delta 70 puts.

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Yep, I learned about theta decay the hard way today. Luckily I made a few thousand bucks on a quick in and out of Disney and Wynn, and then lost everything but like $1200 on a 1 day spy call. The easiest way for me to figure out what is going on is just to dive in, but if you have any good study guides or books to read I'd appreciate that

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I highly suggest simpler trading out of Austin. Their owner, John carter has a book called mastering the trade that I'd suggest reading. These guys do charge $197 per month (I could get anyone in at 147 as a referral). They have a live trading room where you follow people that actually know what they are doing. They text out their trades both getting in and out. They have nightly wrap up videos. You learn a lot just watching the different traders and how they think.

I've been with them a year. If I had done just their trades, I'd be up 435%. Instead I'm up 312% since last March. First month is $7 to try it out. I have a sales job and I'm home a lot so it makes it nice. I started trading debit spreads in 2003. I've learned more in last year than previous 10. Now I'm pretty good at credit spreads( works best in high volatility), butterfly's and iron condors. If you are just buying calls and puts you are paying a hell of a premium with the VIX at 80.

Good luck. I know what I'm going and it's still hard. You must have money to burn! Or a money tree!

Good luck!