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59 South
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Aggiesincebirth said:

Where is 59?!?! I need my hype man to push Roku higher!
It's looking good. Nice consolidation after the breakout over 135. If you have shares just be patient. I check it everyday but don't really worry about the day to day fluctuations. Next leg up should take out 175. It isn't always in sync with the overall markets.

Had a potentially sneaky little breakout on the 60 min chart yesterday that also happened to coincide with an 8 EMA test and bounce on the daily around 148.



McInnis 03
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$30,000 Millionaire said:

I'm starting to think nothing can take this market down, not even 10%. We may see TSLA hit 1800-1900, Microsoft hit 220, and AMZN hit 3400 tomorrow.


***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
59 South
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I'm not being very active right now since I don't see a lot of value out there for longer term trades. Maybe there is but the easy no brainer entries just don't seem to be there. I'm not comfortable with taking the risk right now with my cash so I'm being patient. Still letting my winners run and now that they have macro breakout tail winds again, I don't see any reason to overtrade especially being busy with lots of other stuff. I'll probably add to my AMD though if it clears out of the D box and then dips back to retest.

I did take a lotto weekly on WKHS 20 calls for fun. Small bet that is very high risk and very high reward... thought I'd share for you riverboat gamblers... got in at .35. I couldn't resist with yesterday's clear reversal. Just too many technical signals there. It has to clear 17.50. 18 would likely confirm if not just a flash above... there's not much at all after that stopping it. Huge 'volume shelf' as the Trendspider guys like to call it around 17.50-18.

PS: congrats to you guys in ONTX! OA strikes again! I almost pulled the trigger at .56 last week but the penny stock PTSD talked me out of it...
Carlo4
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Markets playing a game of how fast can the SPX gets to ATH and who comes along for the ride.

Oh and let's also spend another $trillion in bailouts after Europe did theirs. These two shouldn't be happening at the same time.
gougler08
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Agree it shouldn't be happening, but we might as well all make money while we are here
59 South
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gougler08 said:

Agree it shouldn't be happening, but we might as well all make money while we are here
This, cause why not?

Just an observation... but last time we had a SPY breakout set up like this back in May, we went from key level 298 to 323 in about a 2 week meltup. It didn't 'make sense' then and if it happens, it won't 'make sense' this time either. A similar move would take out ATH with a little overrun to about 350. If that happens again, that's when you get safe, sell, buy puts, etc... then you're looking for that 10% correction or more...
Proposition Joe
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We keep worrying about this 10% correction as the market has gone up 30% since April 1.

The correction is no doubt going to come, and it will likely be significant -- but worrying about it along the way has cost you a lot in profits.
texagbeliever
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In case anyone is wondering, ERI became CZR overnight.
59 South
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Yea, to be fair, we had almost a 10% correction in mid June. That's essentially what I meant.

Could see a case where we break out here, melt up, and then 'correct' back to test 323 breakout again. It's usually pretty straight forward when indexes start looking parabolic like they did late May / early June. We're not there again yet at all. We just back tested 298 with strong double bottom.
Orlando Ayala Cant Read
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Jet Black said:

What is the target now on ONTX now that it passed $1.00?
I'll try to find it but yesterday I saw an article stating $10 isn't out of the question. That said, as always "due" the diligence . I personally will unload a large amount if it hits $2. At least my initial investment. Go house money. It's $1.23 PM rn.
MROD92
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What happened to NBRV?
McInnis 03
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Gap fade in full effect.
***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
Maximus_Meridius
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McInnis 03 said:

Gap fade in full effect.
So how are you doing this? Are you actually shorting /ES or /YM like Carter does? Or are you buying puts against SPY? Still trying to wrap my mind around how best to execute this in my account.
McInnis 03
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Maximus_Meridius said:

McInnis 03 said:

Gap fade in full effect.
So how are you doing this? Are you actually shorting /ES or /YM like Carter does? Or are you buying puts against SPY? Still trying to wrap my mind around how best to execute this in my account.
I don't do futures so I usually play SPY, SPX, of XSP. In this case, where the play is to fade it toward the down side, I'll buy puts. 1 ES contract is like 5, 70 delta SPY contracts I believe. Again, this is a bit rich for my blood, it can be as simple as 1 ATM or ITM put to play this setup.
***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
Maximus_Meridius
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McInnis 03 said:

Maximus_Meridius said:

McInnis 03 said:

Gap fade in full effect.
So how are you doing this? Are you actually shorting /ES or /YM like Carter does? Or are you buying puts against SPY? Still trying to wrap my mind around how best to execute this in my account.
I don't do futures so I usually play SPY, SPX, of XSP. In this case, where the play is to fade it toward the down side, I'll buy puts. 1 ES contract is like 5, 70 delta SPY contracts I believe. Again, this is a bit rich for my blood, it can be as simple as 1 ATM or ITM put to play this setup.
Ok, that's kinda what I was thinking as well. I'm guessing you still base the volume indicator on the futures?
cptthunder
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Just wanted to join the ONTX club and say I took majority of shares off at 150% gain and still net free on a couple hundred to see how it plays out
McInnis 03
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yes.
***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
Knife Wrench
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Any thoughts on a rising wedge for SDC forming? Or a Visa Darvas Box?
Rice and Fries
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What the sell off is happening?!
Maximus_Meridius
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Knife Wrench said:

Any thoughts on a rising wedge for SDC forming? Or a Visa Darvas Box?
On SDC, I can kinda see a descending triangle in the last week or so, not really seeing an ascending anything at the moment.
djmeen95
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cptthunder said:

Just wanted to join the ONTX club and say I took majority of shares off at 150% gain and still net free on a couple hundred to see how it plays out


I'm in the ONTX club!

But it's the part of the club that's just riding the wave up - good advice to get net free be damned! Or as I like to call it
- a future member of the "get net free and enjoy the rest" advice giving Club when this bites me in the butt. LOL.

To be honest - I'll probably look to pocket some cash closer to $2 price point and then I can relax like the smarter guys who've already secured their money back!

GLTA on ONTX and thanks again OA for the guidance on this.
AgOutsideAustin
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My Balances would like to thank the Texags traders !!!
Buy buy buy !!
Fightin2010
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$1.50!
texagbeliever
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Maximus_Meridius said:

Knife Wrench said:

Any thoughts on a rising wedge for SDC forming? Or a Visa Darvas Box?
On SDC, I can kinda see a descending triangle in the last week or so, not really seeing an ascending anything at the moment.


SDC could be coming to a pivot where it could break out again after consolidating. Decent early volume this morning.
Maximus_Meridius
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Someone just dropped 1.2M on SPY 8/28 311P. Also saw a pretty big move on 8/5 319P.
Maximus_Meridius
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texagbeliever said:

Maximus_Meridius said:

Knife Wrench said:

Any thoughts on a rising wedge for SDC forming? Or a Visa Darvas Box?
On SDC, I can kinda see a descending triangle in the last week or so, not really seeing an ascending anything at the moment.


SDC could be coming to a pivot where it could break out again after consolidating. Decent early volume this morning.
Good point, forgot to look at pivots. Looks like it just blew through R1.
$30,000 Millionaire
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got filled on TSLA 1500C during the morning sell off.
KT 90
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texagbeliever said:

In case anyone is wondering, ERI became CZR overnight.


Schwab has my ERI concerted to a number now, and says name change eff 7/21/20.

CZR not showing up yet. I guess it takes a day to wash through and show up?
Tumble Weed
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Picked up a little ALXN Jul 31 112 Call

Maximus_Meridius
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Looks like our buddy MGNI is also continuing its run from yesterday
$30,000 Millionaire
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McInnis 03 said:

Gap fade in full effect.
still there man.
txaggie_08
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There were some talking about GTXO last week. It had a little run up, but is now back where it Was almost 2 weeks ago. Are y'all still playing this penny stock, or sell last week while it was above $.02?
Fightin2010
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Anybody else still in on Sorrento? I think these guys are legitimately on to something.

drred4
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KT 90 said:

texagbeliever said:

In case anyone is wondering, ERI became CZR overnight.


Schwab has my ERI concerted to a number now, and says name change eff 7/21/20.

CZR not showing up yet. I guess it takes a day to wash through and show up?
In fidelity ERI is just showing up as a number not ERI as ticker per the above. I guess you are not able to sell it today as I do not have that option?? Only have purchase history.
TecRecAg
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In at .019 out at .024. Got out of all of them.
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