It's guaranteed to happen then, right?

I bought Aug 310 puts on June 9 when SPY was ~320-321... artibitrarily set a stop loss for a buck and got stopped out after Powell's speech overnight (live in Singapore). Those 310 puts are now up 100%. Grrr... Lesson learned.. set stops on key levels / points rather than risk limits alone.

I still have a few very deep OTM puts on SPY I bought back in early May anticipating a 2nd wave later in the year. Vol was roughly in the 30's. November is breakeven and December is now in the black... that being said I'm sure this post will trigger a massive bull rally

CrazyRichAggie said:

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Ubitag said:

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On a stop limit for a sell;

Stock abc closed at $10.00

Down from 10.20

A stop limit of 9.75 means the stock is sold when it drops to 9.75?

If the stock doesn't drop to 9.75 it doesn't sell?

Assume a high volume stock

Talk to me like u would a below average 5 yr old.

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But like others have said, if you keep that order in after close, stock abc could open up at $5 and your stop limit would kick in and your shares will be sold on the open. At least that's how I understand it....

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Just to clarify, there's a difference in a stop and a stop limit. A stop will activate and sell your order at any price below the set price.

A stop limit has two set prices. One is the stop and one is the limit. Once the stop triggers, it then becomes a limit order. For example, If you wanted to sell your shares at $10 but we're worried the market would drop below (like in a stop), you could set the stop at $9 and the limit at $10. If it opened at $5 the stop would trigger and then sell when it rebounded back to $10.

One of you vets correct me if I'm wrong, please.

Up.

$30,000 Millionaire said:

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80% of the trading days after a 5% decline are green the next day. I will be very surprised if it's red. I'm rooting for green so we can resume some selling.

My call for tomorrow: up

What is yours?

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Hard to calculate. I was buying large protection on my portfolio starting last week and that gained today.
Also shorted the futures on the open and made up for big losses. Still a net loss on the day.

Gap up over $305 and we will touch 310 IMO, just a guess.

Edit: I think $306 moves to $310 pretty easy

I think I'm going to be glad I was too busy with work to make any moves today as I agree with you guys, dead bounce tomorrow and then dropping next week

IrishTxAggie said:

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Futures were rocking back until Trump tweeted "Time to take America Back!"

At this point complaining about anything coming from the admin or Fed comes off as a bit....spoiled :P

Seems fine. What was it at? See it dropped about 3 points since I've paid attention... $0.30 on the SPY

JimSA said:

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claym711 said:

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The low today is going to be in the last 90 mins.

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He called it

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Him and 30k millionaire have been screaming a big dip coming for months. Finally they might be right!

Any rip tomorrow and I'm loading up on puts and VXX!

Futures +1.15% right now. Perfect.

Anyone interested in ZM puts?
They are starting to talk about China hacking etc.....plus already way high and mostly recreational which will fade with reopening.

Taking a crash course on trends on Ameritrade.

Soon be joining the Calls and puts crowd

That is not Trumps actual account. Fooled me a few times already

Up rocking a teething baby and I see futures are bright green as you guys are predicting. I'm about 35% cash and I def won't be buying today but I don't want to sell what I have either.

I don't do options because I'm a newb that doesn't understand or have time to watch it but I would like to hedge my long positions a bit if possible.

On the Vix what do you guys by and what would you rec? TVIX or VXX? Seen both mentioned and would you wait till end of the day if we're roaring? Thanks guys

We are gonna model T to 310-315 range aren't we???

Bought some stocks end of day yesterday for a swing trade today.... like what I see so far in futures

Tsla going to shoot back up?

Risk back on for one day

Talon2DSO said:

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Tsla going to shoot back up?

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yes, should roll with SPY, but I'm going cash and some spy puts, vxx calls. I have a feeling this is a pump before next week's dump.

No play for me but seems something is going to happen with IZEA today based on Twitter chatter. The idea seems bullish

BREwmaster said:

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Talon2DSO said:

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Tsla going to shoot back up?

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yes, should roll with SPY, but I'm going cash and some spy puts, vxx calls. I have a feeling this is a pump before next week's dump.

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I'm asking myself if this is a real dump, or a strong pit bull low. If it's the latter, I think we get another up day Monday to really bait people in before a rough mid week.

Every knee shall bow and every tongue shall confess

Did we determine the best VIX instrument to buy calls against? VXX, VIXY?

VXX has the most volume and liquidity

Fitch said:

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Gotta love those stimulus checks.

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Thought it wasn't retail doing all the buying :P