I'm reallocating and moving back to a 90/10 allocation tomorrow. Doubt I'm hitting the bottom but am pretty comfortable getting back in now and riding it down a bit farther. Really don't want to miss any of the bounces back up as I think they will happen quick.

Yup! That's what I've been doing all the way down

Rand Paul testing positive will have everyone spooked and and only 7 Democrats need to vote Yes to approve it, if I recall correctly.

My guess is it passes. Could be wrong though of course! Lol

Prognightmare said:

---

hoosierAG said:

---

As a long here, too late to move to cash still?

---

YES, you've absorbed the pain. The only thing worse is selling into this now and missing the rebound.

---

I had this discussion with my Dad this morning. We landed on using what is left of our dry powder to go bottom feeding and stay patient. No sense trying to play with what's already employed and miss out on a snap back rebound.

Agree, and was really "kidding" for the most part. Almost got out at the start and have asked myself that every day now. Didn't in 2008 either....but I don't trade ...just a nice diversified mix and let it ride. But this seems to have no bottom...

Boat Shoes said:

---

It means I hope you had puts in place.

---

oh and I do...I do...also have a SPY put butterfly that I paid $1.20 for that could pay 10 if it maxed out. Hope to get 5 bucks for it. I'll take a 400% profit from friday to monday any time.

For 3 weekends in a row, I've put on cheap Butterfly's on Friday that really came in on Monday when everyone had a weekend to freak out and the markets go lower on Monday. Last week I paid like 1.50 and cashed out for $18! Three weeks ago paid 1, sold for 22. Just nuts!

I have a gambling problem, but it's been a very profitable one the last month.

I could be wrong, but I think when the congress gets their **** together an announces a package, the market will rise for a short time, then back down.

Markets always revert to the mean, but the mean lately has been the 5 period EMA on the daily. Normally it's the 21. My portfolio is up almost 300% since Feb 15, and i've been in 60% or more cash the whole time. I kick myself for not going all in, or even holding on the the SPY 3300 Puts I owned two weeks ago, but I'm blessed when it comes to trading lately. Guys and girls, tread lightly and have the dry powder when the markets rip up. With the Put Call where it's at, at some point there won't be many sellers left and we could have a face ripping short squeeze....temporarily!

Here's to another good week of trading. Be nimble, and have your trades already loaded up in TOS, in both directions. I typically have some longs and short already set up in TOS at super lower limits(they would never fill), but I can easily change the amount if the market is going to move one way or another. Been making money both ways lately. Lots of PCS's and CCS due to high VOL.

The guys I follow on Simpler Trading pretty much only trade the indexes and Honey Badgers, which don't care what the market does. Things like TDOC, ZM, GILD.

Good luck this week! It will be interesting to see how long it takes to go limit down when the markets open tomorrow. I say less than 5 mins, maybe 1 min! As soon as they announce the stimulus, I'll get out of my puts and open the SPY and QQQ Put credit spreads that are already in place and ready to fire off when ready.

Traders that know way more than me love high VOL. I can see why.

AggieKeith15 said:

---

Down big at open then a giant rally when stimulus passes tomorrow, right?

---

Pelosi is saying Monday is the GOP deadline, not hers, and that she has her own bill she is going to introduce. Maybe it's posturing for negotiation.

12thMan86 said:

---

Boat Shoes said:

---

It means I hope you had puts in place.

---

oh and I do...I do...also have a SPY put butterfly that I paid $1.20 for that could pay 10 if it maxed out. Hope to get 5 bucks for it. I'll take a 400% profit from friday to monday any time.

For 3 weekends in a row, I've put on cheap Butterfly's on Friday that really came in on Monday when everyone had a weekend to freak out and the markets go lower on Monday. Last week I paid like 1.50 and cashed out for $18! Three weeks ago paid 1, sold for 22. Just nuts!

I have a gambling problem, but it's been a very profitable one the last month.

I could be wrong, but I think when the congress gets their **** together an announces a package, the market will rise for a short time, then back down.

Markets always revert to the mean, but the mean lately has been the 5 period EMA on the daily. Normally it's the 21. My portfolio is up almost 300% since Feb 15, and i've been in 60% or more cash the whole time. I kick myself for not going all in, or even holding on the the SPY 3300 Puts I owned two weeks ago, but I'm blessed when it comes to trading lately. Guys and girls, tread lightly and have the dry powder when the markets rip up. With the Put Call where it's at, at some point there won't be many sellers left and we could have a face ripping short squeeze....temporarily!

Here's to another good week of trading. Be nimble, and have your trades already loaded up in TOS, in both directions. I typically have some longs and short already set up in TOS at super lower limits(they would never fill), but I can easily change the amount if the market is going to move one way or another. Been making money both ways lately. Lots of PCS's and CCS due to high VOL.

The guys I follow on Simpler Trading pretty much only trade the indexes and Honey Badgers, which don't care what the market does. Things like TDOC, ZM, GILD.

Good luck this week! It will be interesting to see how long it takes to go limit down when the markets open tomorrow. I say less than 5 mins, maybe 1 min! As soon as they announce the stimulus, I'll get out of my puts and open the SPY and QQQ Put credit spreads that are already in place and ready to fire off when ready.

Traders that know way more than me love high VOL. I can see why.

---

What's a butterfly?

I'm guessing the market bottoms in 2-4 weeks as the NYC infections and death numbers are updated. These are going to be scary numbers. Unfortunately, many long term investors will be scared enough to sell but hopefully this also scares those who haven't taken this pandemic seriously enough to follow the common sense social distancing and hand washing recommendations of infectious diseases doctors.

Once the curve flattens and old meds are used to help cure people faster, I expect the worst for our markets will be over.

I'll probably be shoving the rest of my investment cash reserves into stocks during the next few weeks.

Where is this guy when you need him to plug in some positive news for the market.

Which stocks ?

Repubs are down 5 votes now with 5 senators quarantined..


Mcconnell will cave (always does) to Dems and pass Pelosi's bill (God only knows what that will look like)

Boat Shoes said:

---

12thMan86 said:

---

Boat Shoes said:

---

It means I hope you had puts in place.

---

oh and I do...I do...also have a SPY put butterfly that I paid $1.20 for that could pay 10 if it maxed out. Hope to get 5 bucks for it. I'll take a 400% profit from friday to monday any time.

For 3 weekends in a row, I've put on cheap Butterfly's on Friday that really came in on Monday when everyone had a weekend to freak out and the markets go lower on Monday. Last week I paid like 1.50 and cashed out for $18! Three weeks ago paid 1, sold for 22. Just nuts!

I have a gambling problem, but it's been a very profitable one the last month.

I could be wrong, but I think when the congress gets their **** together an announces a package, the market will rise for a short time, then back down.

Markets always revert to the mean, but the mean lately has been the 5 period EMA on the daily. Normally it's the 21. My portfolio is up almost 300% since Feb 15, and i've been in 60% or more cash the whole time. I kick myself for not going all in, or even holding on the the SPY 3300 Puts I owned two weeks ago, but I'm blessed when it comes to trading lately. Guys and girls, tread lightly and have the dry powder when the markets rip up. With the Put Call where it's at, at some point there won't be many sellers left and we could have a face ripping short squeeze....temporarily!

Here's to another good week of trading. Be nimble, and have your trades already loaded up in TOS, in both directions. I typically have some longs and short already set up in TOS at super lower limits(they would never fill), but I can easily change the amount if the market is going to move one way or another. Been making money both ways lately. Lots of PCS's and CCS due to high VOL.

The guys I follow on Simpler Trading pretty much only trade the indexes and Honey Badgers, which don't care what the market does. Things like TDOC, ZM, GILD.

Good luck this week! It will be interesting to see how long it takes to go limit down when the markets open tomorrow. I say less than 5 mins, maybe 1 min! As soon as they announce the stimulus, I'll get out of my puts and open the SPY and QQQ Put credit spreads that are already in place and ready to fire off when ready.

Traders that know way more than me love high VOL. I can see why.

---

What's a butterfly?

---

Go check out Tasty Trades or look it up on the internet. Basically, you sell 2 options and the point you think the market will close at the end of the day (at expiration, called the "body" of the fly) and then buy 2 options equal distance from the body. You maximize profit by closing the fly out in the last 15 mins of the day of expiration. However, you can't get greedy. A "pin" at the body is rare, but the fly will make money even if it doesn't pin.

So for example, on Friday when the market was going up, I put on a 210/220/230 PUT fly x 2. My max profit is $10, the distance from one of the wings to the body. So think about it...IF the market closes at 2200 tomorrow at the close, the 210 put expires worthless, as does the 220's that you sold through theta decay. the 230 PUT is worth $10, and there is your profit. I do these all the time, but you have to be careful to not move them out in time to far with the market moving as fast as it has been.

I've got a 200-220-240 in my IRA x 10 that I put on 2 weeks ago for 1.83. It expires THIS FRIDAY. I'll probably be closing it tomorrow if the market drops big time, as if the market gets outside of the wings, you will lose your money. It's worth about $4.25 right now, and will probably be $5 tomorrow. Wasn't the outcome I hoped for, but can't beech about a $3+ profit x 10.

One more thing. If you use TOS, you can play with the wings and see how this effects both the cost and the profit of the fly. Use the analyze tab. I love that tab. If you make the wings wider, it will cost more, but your chance of profit goes up as well.

Procedural vote failed. Tomorrow will be another circuit breaker at open.

hedge_zer0 said:

---

Which stocks ?

---

High growth stocks that are profitable or very near profitability and have been hammered. AMZN is a perfect example, NOW, AYX, WDAY, EXAS. Probably some insurers. I doubt people cancel their insurance over this.

The main thing for me is I buy stocks I have a high degree of confidence in and, ideally, plan to never sell.

TXAG14 said:

---

Procedural vote failed. Tomorrow will be another circuit breaker at open.

---

Yep we will be down 7% within minutes! When they finally pass something, the markets will rally for who knows how long. Seems like most rallies stall as people sell right into them.

I think we will see a ban on short selling soon.

TXAG14 said:

---

I think we will see a ban on short selling soon.

---

that would suck big time, but you are correct

TXAG14 said:

---

I think we will see a ban on short selling soon.

---

There should be a whole new thread on banning short selling.

Likelihood, history, How it would work and effect the markets?

Upgrades from Mnuchin's old firm and banning of short selling may actually keep BA from filling Ch 11. If anyone knows what short selling can do to a struggling company, it's an ex-hedge fund mgr like Mnuchin.

Otherwise, could be a sign that bailout news isn't as good and GS needs to unload on retail.

Pretty sure BA fling Ch11 is a huge win for Schumer/Pelosi considering Trump's comments today. They would make an amazing ad for Biden. Sad.

If they didn't ban short selling during the 2008 crisis, I would find it hard to believe they would do it now.

Plus, as others have pointed out, studies have shown it has next to no effect every time it has been tried.

thirdcoast said:

---

Upgrades from Mnuchin's old firm and banning of short selling may actually keep BA from filling Ch 11. If anyone knows what short selling can do to a struggling company, it's an ex-hedge fund mgr like Mnuchin.

Otherwise, could be a sign that bailout news isn't as good and GS needs to unload on retail.

Pretty sure BA fling Ch11 is a huge win for Schumer/Pelosi considering Trump's comments today. They would make an amazing ad for Biden. Sad.

---

GS doesn't play that game with people that invest with them. BA isn't going into Ch. 11. If anything, the guys at GS know what's coming down the pipe to help BA. JMO

Cromagnum said:

---

Pelosi is Satan incarnate. These **** for brains need to be exposed badly tomorrow for holding up support over pet projects and crap that does not help prop up the economy.

---

Like I was saying lol

I agree. I saw it happened back in 2008 with like 1000 select banks. It's murky for me on a micro basis with liquidity of individual stocks or industries in short term.

Thanks for posting CNBC alert on GS upgrade. It's pretty clear BA is central in current bailout negotiation.

They did ban it temporarily in financial stocks in 2008