Prognightmare said:

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This FOMO market is a crazy thing to watch.

ETA: the market DGAF about the rona and has moved on.

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I can't believe I'm long in anything, much less 40% of my portfolio

I decided I didn't want to try trading against the trend anymore. I'm 85% long. It's mostly in FAANG stocks, MGNI, SDC, AMD, NET and FSLY

McInnis 03 said:

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So I traded the fouled up fly for a naked 3155C. y'all. y'all.

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Freaked out, so sold the 3165C.

Then was hoping to sell a 3165/3175 if SPX touched 3170.....but either way, if we close between 3156 and 3174 basically I'll get some funds settled overnight.

fightintxag13 said:

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I decided I didn't want to try trading against the trend anymore. I'm 85% long. It's mostly in FAANG stocks, MGNI, SDC, AMD, NET and FSLY

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FAANG, Cloud tech, and a few super diverse index funds. That's my whole long spots, but they just keep going up.

Kicking myself today..for some reason I decided to sell my 7/17 FTNT $150 calls yesterday right before the close. Congrats to everyone who held on to them today

maroon19 said:

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Kicking myself today..for some reason I decided to sell my 7/17 FTNT $150 calls yesterday right before the close. Congrats to everyone who held on to them today

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RT

XOM 01/2021 45P. in at 6.40

TecRecAg said:

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In

AAPL 7/10 390C at 1.04
RIOT 7/17 2C at .64
TECK 8/21 11C

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AAPL stopped at .60, womp.

RIOT in the red, TECK in green.

Power close

Sorry, couldn't type fast enough. SCHW 7/10 35C at .29

TecRecAg said:

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XOM 01/2021 45P. in at 6.40

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45P leap on XOM? I wouldn't think to go that way? What's your target?

Bullish euphoria amongst almost every asset class right now jeez

McInnis 03 said:

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TecRecAg said:

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XOM 01/2021 45P. in at 6.40

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45P leap on XOM? I wouldn't think to go that way? What's your target?

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If he plans on selling the put to collect the premium, then I like it. I wouldn't purchase the put because I think XOM will be above that price.

Good job

I have a XOM 01/2021 $65 call that has been slowly crumbling. Have lost money so far but am continuing to hold because I am confident that this stock will rise over the next few months. With that being said, not a bad call if he does plan on selling to collect premium

TxAG#2011 said:

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Bullish euphoria amongst almost every asset class right now jeez

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Maybe tech and some niche sectors like electric vehicles and cloud stuff maybe, but we aren't even close to euphoria imo. The closest thing I've seen while being really into the market is January 2018. S&P which is the biggest overall indicator of US stocks is almost 7% below ath still while going mostly sideways with lots of volatility over the past 2.5 years.

When I was in hs in late 90s several of my friends' dads quit their good jobs to start day trading. These dudes were 40 somethings who were not only total dumbasses, but also completely computer illiterate. Like index finger only typing computer illiterate but there they were giving away a pension to day trade their way to being millionaires. Now that was euphoria!

Expecting more pain on travel and O&G industries between now and then. By January, yes it will be back. But I'm not so sure it won't dip down to $30-35 a share. When it does, I'll close it out.

maroon19 said:

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I have a XOM 01/2021 $65 call that has been slowly crumbling. Have lost money so far but am continuing to hold because I am confident that this stock will rise over the next few months. With that being said, not a bad call if he does plan on selling to collect premium

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If you have the funds to cover the stock being put to you, and you're approved for options, I'd sell that put to collect the premium to offset the cost of the 65c. JMO

TecRecAg said:

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Expecting more pain on travel and O&G industries between now and then. By January, yes it will be back. But I'm not so sure it won't dip down to $30-35 a share. When it does, I'll close it out.

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I think it would require another US, EU and Asia mandatory shutdown for XOM to hit that price again. I don't see shutdowns coming again, but who knows.

It's in the green right now with -2% stop loss. Thinking this one goes down before it goes up. I bought the put cash and will close it out when I feel it's made enough.

Not a bad idea, was planning on taking some profits on some other options I have currently so I could use those funds for the 1/21 $45 put just to offset the $65 call.

Yep. Most of my longs are following 8-10 day up. Any dip to 21 day is 100% buyable right now.

CTEK Rocketship AH

Exactly, I follow 8 and 21 religiously. QQQ has just ridden that trend perfectly for over 3 months now while everyone thinks it's getting too high to fast. Ride that baby until the 21 breaks and confirms. Then you get out. You can make a killing just riding those channels. Sell a little, or buy some puts or sell some covered calls along the way if you get extended above the 8 day. I really can't believe how easy it really is.

I've seen you mention 8 and 21 EMA religiously. I need to go back and find out where you've explained this before. I'm interested.

Going to piggy back on Tec's post here. Would you mind a link to the post or a rundown? I generally work with 21 and 200 with some 50 sprinkled in there but would like to hear more about your approach.

THANKS!

It's been brought up before, but from what I've seen it just works. 50 and 200 are longer term support trend lines. I wouldn't buy anything under them, for instance. I'll post some graphics later of the 8/21 day in action these past couple months in growth stocks, just need to get my desktop set back up.

You could look at DOCU and SE. DOCU dipped to 21 day ema about 3 times on this run up, each time would have been a great entry point. SE has barely dipped below 8 day ema, just rode it all the way. I entered at the dip to 74 on 5/27. This is independent of consolidation patterns like a cup and handle.

Yes this. Scott is a big proponent of it. My examples above visually show it in action

Ddog riding the 8 day ema, dipped to 21 day on 6/29 to shake people out, held there, up $16 from that day's low.