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25,229,960 Views | 233891 Replies | Last: 19 min ago by ProgN
Ragoo
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Thoughts on the 300c spy for Friday?
khaos288
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Ragoo said:

Thoughts on the 300c spy for Friday?


I think there will be a TON of resistance.


So buy it I guess
Bob Knights Paper Hands
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Will be tough to make any money with large premiums. Calls would have been a good hedge at the start of the month. I'll probably watch premiums on June puts and buy some if they get low enough as a hedge. If the market has a bad day or two you could take a little profit on those, if we have major issues opening back up you could bank.
$30,000 Millionaire
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thirdcoast said:

$30,000 Millionaire said:

Well, futures market is ignoring Fauci and Pence self isolating. Overnight gap lemmings are at it again.


Bad virus news means Fed pumping isn't ending soon. Good virus news means Fed pumping is ending soon.


You meant to say "isn't ending soon" in both scenarios, right?
TXAG14
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Well the retail company my wife works for here in Houston, Stage Stores (SSI), filed for chapter 11 today. It is trading as a penny stock but if they find a buyer I could see it going up a decent amount. That is one big if though.
FrontPorchAg
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texagbeliever said:

IrishTxAggie said:

If more WH staff start popping up positive, I'd expect the market to react IMO. Plan accordingly.



A chance to buy on a dip perhaps. Boris recovery will probably lessen the impact.
Fox is saying it's not true.

https://www.foxnews.com/politics/pence-spokesperson-denies-vice-president-quarantine-coronavirus-self-isolating-reports
All animals are equal, but some animals are more equal than others
thirdcoast
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Let's tune in to Powell on Wed to see if he is still a no limit soldier. Maybe he mentions our balance sheet, maybe talks about how he doesn't need approval to get more.
McInnis 03
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Ragoo said:

Thoughts on the 300c spy for Friday?




Upward we do
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
$30,000 Millionaire
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I really want to hear what he says on Wed. This thing is going to turn south soon. How far down, unknown.

Irish is right - it's going to be chaos if Trump or Pence gets it.
$30,000 Millionaire
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McInnis 03 said:

Ragoo said:

Thoughts on the 300c spy for Friday?




Upward we do


Isn't May OPEX the weakest?
tam2002
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Went to bed futures were bright green looks like it's flipping other direction now.

Gonna be a interesting week. Feels like we're gonna get a lot of info this week, good and bad.
McInnis 03
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$AMC up big on rumors amzn wants to takeover
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
Carlo4
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tam2002 said:

Went to bed futures were bright green looks like it's flipping other direction now.

Gonna be a interesting week. Feels like we're gonna get a lot of info this week, good and bad.


Already retesting 2,892 area (edit). If it stays above and bounces off, bulls still have control.
oldarmy1
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A down Monday followed by 4 days up has happened several times on OPEX week. We have a small gap at $289.56 and a big one at $283.70, so see if we don't bounce from this below $290 premarket action into the open. If not check gaps.
ProgN
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Does one win the argument if the rug pull is at S&P 4000 down to 2900? No

Don't fight the Fed and let principles bankrupt you.
BrokeAssAggie
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Up over 7% pre market



CrazyRichAggie said:

CAH has earnings tomorrow. Anyone else playing?



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Spaceship
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What is "opex week" for us newbies?
oldarmy1
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Buying SPY $289.78 and if no bounce early I'll just sell second gap area deeper in the money $283/$284 calls out a week to make $2-3 or end up with entry net price $280 and deal with it then.

Already have the SPY $270 puts so squeezing max risk through June 19.
McInnis 03
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Spaceship said:

What is "opex week" for us newbies?
Options Expiration.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
McInnis 03
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jj9000 said:

$30,000 Millionaire said:

Well, futures market is ignoring Fauci and Pence self isolating. Overnight gap lemmings are at it again.


Not sure I've seen someone pulling for the Market to breakdown more. This isn't criticism, it's just your position, and I respect that.

Here's the deal though. It may not be this week. It may not be this year. But, the rug will get pulled out.
This is a historic bubble. Just be patient. The Fed can't fix the broader problems going on around us.

Let's suppose the Fed injects XX amounts into this thing for perpetuity, coupled with historic unemployment. At some point there will be inflation/deflation, and ultimately market stagnation for a very long time. So, worst case in your position is we go sideways for a decade. I don't think it will happen, but it's possible.

Bottom line of my point is there is money to be made on the upswing, and the downswing, and if you're waiting for the bottom to fall out, just be patient and try not to get frustrated.
Nothing wrong here, but gotta ride the trend until the trend says "GET OFF MY BACK". I've been learning this the hard way but a good amount of study this weekend has opened my eyes to some stuff. Probably elementary stuff for you big time winners but for me, the trial by fire has been hot and it's time for me to put on some damn oven mitts!
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
Bob Knights Paper Hands
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Bob Knights Liver said:

Will be tough to make any money with large premiums. Calls would have been a good hedge at the start of the month. I'll probably watch premiums on June puts and buy some if they get low enough as a hedge. If the market has a bad day or two you could take a little profit on those, if we have major issues opening back up you could bank.

Now that it looks like we're opening down maybe it's time to watch these 295-300c for late May or even 292-293 calls for today or Wed if you feel like gambling.
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oldarmy1
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Spaceship said:

What is "opex week" for us newbies?


Here's a good article on Options Expiration week. Quadruple Witching is another term to look up.

https://investingwithoptions.com/options-expiration/
IrishTxAggie
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PENN and YETI just announced offerings
Bob Knights Paper Hands
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oldarmy1 said:

Buying SPY $289.78 and if no bounce early I'll just sell second gap area deeper in the money $283/$284 calls out a week to make $2-3 or end up with entry net price $280 and deal with it then.

Great play.
IrishTxAggie
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IrishTxAggie said:

Closed out ALL long calls. i'll take my chances of missing on something and just start from scratch on Monday. Best of luck. I'm done for the day.
One of my smarter moves in awhile...
Spaceship
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Thanks!
Rice and Fries
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Definitely followed your advice...

I had a few long positions that were up a bit and decided to go ahead and close. Even my WORK 5/22 calls.
oldarmy1
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Filled that $289.56 gap and bounced so far.
McInnis 03
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289.34 was the v-bottom just before open.

Was that you OA?


***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
E
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IrishTxAggie said:

PENN and YETI just announced offerings
Grreeeeaaaaaattttttttttttt....
ProgN
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ERI reports earnings after the close. Anyone willing to dance with it?
oldarmy1
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NET and RUBI showing some buying interest ignoring the pullback early.
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