AgShaun00 said:

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BB675 said:

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I am getting crushed on my bank play right now (FHN, formerly IBKC). Any light at the end of the tunnel for banks?

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Probably if another stimulus is passed

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I think another one is coming, but will be interesting if we pull back first or 2nd stimulus wave first.

BABA and FSLY tomorrow, new ATH's -- let's get it!

to the guy in GSX puts, I would exit that promptly. Short squeeze there could send it to near 100.

BB675 said:

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I am getting crushed on my bank play right now (FHN, formerly IBKC). Any light at the end of the tunnel for banks?

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Big banks are actually still in a good spot. In my mind, there's not a better long-term buy out there right now than Wells Fargo

ehrmantraut said:

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BB675 said:

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I am getting crushed on my bank play right now (FHN, formerly IBKC). Any light at the end of the tunnel for banks?

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Big banks are actually still in a good spot. In my mind, there's not a better long-term buy out there right now than Wells Fargo

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I'm still a sucker for COF.

BREwmaster said:

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AgShaun00 said:

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BB675 said:

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I am getting crushed on my bank play right now (FHN, formerly IBKC). Any light at the end of the tunnel for banks?

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Probably if another stimulus is passed

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I think another one is coming, but will be interesting if we pull back first or 2nd stimulus wave first.

BABA and FSLY tomorrow, new ATH's -- let's get it!

to the guy in GSX puts, I would exit that promptly. Short squeeze there could send it to near 100.

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Agree. I had gsx puts and got killed. DYoptions is killing gsx calls.

AgsnFly said:

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Bad luck to good. Sold my WMT length right before the big news yesterday and missed out completely. With half of the cash, I went long NKLA near yesterday's low. An amazing 35% return on that trade today. That is mostly luck but will take it; which I guess is the moral to the story.

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Profit is profit and it doesn't matter to us how you get it.

khaos288 said:

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ehrmantraut said:

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BB675 said:

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I am getting crushed on my bank play right now (FHN, formerly IBKC). Any light at the end of the tunnel for banks?

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Big banks are actually still in a good spot. In my mind, there's not a better long-term buy out there right now than Wells Fargo

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I'm still a sucker for COF.

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Yep. I own them too, but they're more reliant on rate spreads than WFC.

59 South said:

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Don't you dare jinx this one cause it could still fail!

Ps: I'm working on an ensemble of gifs and YouTube videos that involve America tributes, the war hymn and spiking footballs...

ETA go look at those emas on this one and how they are set up with a fan starting mid June... then go back and look at the last time they started looking like that with that set up.

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I know lol. That's why I couldn't name it for superstition purposes but it owes me a big one... I will take a look in the morning at the office. You aren't a Houston guy are you? I could always learn more and there is a crew on this thread I would love to meet in person (as strange as that sounds)...

leoj said:

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Yes. O'Neil, minervini, Livermore, darvas, wyckoff all preach this as well. Has really changed my thinking.

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Great reference and all legends in this game. About 25 years ago, O'Neil woke me up to the idea of "blue sky". Changed my life in equities but for a while made it more difficult in commodities (where I earn my living). Eventually separated the two and have prospered in both since.

Anyone see this interview with Merck CEO today that said the earliest we could have a vaccine is a year from now?

I read the vaccine target effectiveness is 50%. That took the wind out of my sails.

Yea it looks like the market is banking on a vaccine by the end of this year with high effectiveness which seems like a pipe dream based on that interview

BABA making people rich!

McInnis 03 said:

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BABA making people rich!

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McInnis the early riser! Just say China is making people rich... JD, NIO, MOMO (this is a new one I'm about to enter... that EMA profile with clear reversal says it is a screaming buy about now or really soon...)

I'll try to get to replying to some of y'all and posting a chart or two during lunch. I'm 6 hours ahead of most of you guys, have a full time job that can be demanding at times and a couple of young kids so please bear with me...

leoj said:

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59 South said:

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McInnis 03 said:

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BABA making people rich!

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McInnis the early riser! Just say China is making people rich... JD, NIO, MOMO (this is a new one I'm about to enter... that EMA profile with clear reversal says it is a screaming buy about now or really soon...)

I'll try to get to replying to some of y'all and posting a chart or two during lunch. I'm 6 hours ahead of most of you guys, have a full time job that can be demanding at times and a couple of young kids so please bear with me...

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No excuses...are you based in London or somewhere else GMT?

Everyone be careful with twitter folk when they speak in absolutes. Nobody knows the future. There's a lot of potential truth to those statements, but saying that US indexes WILL trend DOWN cannot be backed up with any evidence. Could be right, but there is no current evidence of that as it is merely opinion based on who knows what.

A more accurate way of stating that imo would be "We are seeing strong evidence that China equities are likely to outperform US equities in the short to medium term as they appear to be successfully recovering from an unforeseen global crisis while the US is still trying to get through it."

Ha, yes I'm in London. Hoping I don't know you haha.

59 South said:

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Ha, yes I'm in London. Hoping I don't know you haha.

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Haha doubtful...I used to go over a few times a year for work but have changed roles since then so haven't been in a couple years. Do love the city though and jealous!

59 South said:

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Ha, yes I'm in London. Hoping I don't know you haha.

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Do you drink tea? Or coffee?

59 South said:

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A good example of this is XOM. Dude in my office loaded up in early March at 50 because 'dude xom is 50 what a steal.' Nope no it was not. It was a buy when it reclaimed the 8 and held it for a few days at 36.

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Rule #1 because that dude must be my soul mate.

Square Pair said:

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59 South said:

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A good example of this is XOM. Dude in my office loaded up in early March at 50 because 'dude xom is 50 what a steal.' Nope no it was not. It was a buy when it reclaimed the 8 and held it for a few days at 36.

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Rule #1 because that dude must be my soul mate.

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Only in a world of short term trading is XOM at 50 not a steal. Investing takes patience, trading really doesn't.

ehrmantraut said:

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Square Pair said:

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59 South said:

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A good example of this is XOM. Dude in my office loaded up in early March at 50 because 'dude xom is 50 what a steal.' Nope no it was not. It was a buy when it reclaimed the 8 and held it for a few days at 36.

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Rule #1 because that dude must be my soul mate.

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Only in a world of short term trading is XOM at 50 not a steal. Investing takes patience, trading really doesn't.

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It's my favorite covered call at the moment. Selling weeklies and grabbing the dividend, I can go net free every year.

ehrmantraut said:

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Square Pair said:

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59 South said:

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A good example of this is XOM. Dude in my office loaded up in early March at 50 because 'dude xom is 50 what a steal.' Nope no it was not. It was a buy when it reclaimed the 8 and held it for a few days at 36.

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Rule #1 because that dude must be my soul mate.

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Only in a world of short term trading is XOM at 50 not a steal. Investing takes patience, trading really doesn't.

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Very true, 50 will likely be a steal long term no doubt, but entering that long term at 36 would have been a bit sweeter and far less stressful for the past few months. This stuff with calculated entries can apply to all timeline ranges from day trading to buy and hold forever. That is the beauty of it.

Exactly! I wouldn't make a very good twitter personality at all, but I do usually sleep well at night!

I take both with milk fine sir. Coffee before noon and tea after noon.

I had BABA 255s based on a Sam post yesterday. They were wildly moving around for about an hour after I got them and went ahead and set a .50 trailing stop. Right after they sold at 2.95 (bought at 2.31), they stabilized and never came back down. Closed at 6.20, I expect them to open over 10.

Damn these 1-ply TP hands!

is there a short-medium term play on BABA?

Those JD calls I sold yesterday for 1.60 are gonna open over 3.00. If anybody still has any, sell at the open. I'm going to unload all my shares for 68+ hopefully... I need the capital to buy some MOMO now after looking at that chart this morning...

59 South said:

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Those JD calls I sold yesterday for 1.60 are gonna open over 3.00. If anybody still has any, sell at the open. I'm going to unload all my shares for 68+ hopefully... I need the capital to buy some MOMO now after looking at that chart this morning...

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Only buying shares? Or looking at calls, too? For MOMO, that is

Grown Pear said:

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59 I have to thank you so much for this.

I jumped in JD calls Monday sadly after it shot up. I got some in like 1.20 (way above your entry point). Then later it started dropping I think I got more at 1 something. Then yesterday loaded up more at like .67 twice.

So I was at an average cost of 1.00-1.05'ish with 35 total contracts. End of day yesterday down about $1500, today's rocket ship got me so pumped. I had a 12 hour round trip drive into Louisiana and back. I'm seeing the continuous climb in share price and it makes my drive so fun. On I-10 trying to put in a limit sell order to get out half at 2.10 so I'd be net free the other half. It's trading at like 1.80 at the time. I go through a patch with little cell coverage and my app stops working and never submits my limit order. I didn't realize that.

Fast forward another hour or so and I see JD climbing up in the high 65's so I check my order status and it's empty bc it never finalized! I got to put in another sell order and decide to dump all 35 contracts at 2.25!

So lucky. What an absolute turnaround today. I have 59 South to thanks as I was driving I-10 East

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You should have held till today!!!!

I'm looking at the 8/7 $300 calls for BABA this morning. Seems unlikely, however, could be a smart move to just collect the premium

I know you guys don't listen to me, but the Nasdaq is entering near term danger territory with how extended it is.