I bought HD sept 11 290 calls today. It wants 300 in this market.

Already setting alerts for FB and HD tomorrow. FB could be a hard runner, bull flag break to possible new ATH? Yes please.

In the 100 days leading up to an election, only twice since 1980 has the market declined.

2008 (-18.5% - housing market crash) and 2016 (-1.4%).

You've got an incumbent President that absolutely needs people's 401ks to stay afloat, and he has shown he is willing to do whatever is necessary to do so (he'll even tweet "everyone should buy stocks now" if he has to).

The only way I see significant pullback (10%+) before Election Day is if we get some really bad virus news (like, "we're all going to die [again]" type news) or if it becomes obvious in the weeks leading up to the election that Biden will win in a landslide.

I don't see either of those two things happening.

Now on November 4th, all bets are off. This thing could collapse any day after that, no matter who is voted in.

McInnis 03 said:

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I need to stop the earnings plays.

Good thing I play them cheap.

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You and me both brother. Down 5+$ per share since I thought "oh well, don't want to miss out if they beat eps, rev, and guidance"

Sold covered call on SNAP. SNAP was on fire today and I think it takes a breather.... And if I'm wrong then I'm happy to be called out of shares. I Have a healthy profit target.

Learning as I go

Earlier today they were saying Early NOV, now its late OCT...

McInnis 03 said:

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Already setting alerts for FB and HD tomorrow. FB could be a hard runner, bull flag break to possible new ATH? Yes please.

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holding plenty of FB overnight, probably too much, but loads of flow on it!

HD looks nice -- cup n high handle-ish on the hourly chart.

What do y'all think about RKT for a mid to long hold? They seem pretty confident in continuing to grow.

Edit: I'm not in it at all, but wondering if this little drop is a good entry.

Today AMC announced opening 70% of theaters this weekend, price went +$7.50, now they just issued 30M shares at $5.99.

Anyone seeing all these offerings as a sign of market rally stalling??

BREwmaster said:

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McInnis 03 said:

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Already setting alerts for FB and HD tomorrow. FB could be a hard runner, bull flag break to possible new ATH? Yes please.

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holding plenty of FB overnight, probably too much, but loads of flow on it!

HD looks nice -- cup n high handle-ish on the hourly chart.

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Thinking of taking a massive gamble on FB in the AH. I've had some good luck with earnings, and I've had some bad luck. Struggling with this decision.

Sold all my fb before end of day, really didn't want to. Will look to get back in in the morning. Every afternoon I've been trimming trades, worried that tomorrow will be "the day". It's cost me a bunch of extra profits the last few weeks... It wants to join its tech brothers with a big 10% day, and now that it's taken out 300..... 310+ if the market allows.

never enter a trade if it feels like a "massive gamble"...I've learned that the hard way a few times. but if you're talking buying FB commons after hours, I don't see much wrong with that. I'm only in options in it, but it does look very primed to rip.

Maybe though buy half tonight and watch for any dip tomorrow to add the rest. The market also needs to hold to hit the new price targets on it.

Colt98 said:

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Sold all my fb before end of day, really didn't want to. Will look to get back in in the morning. Every afternoon I've been trimming trades, worried that tomorrow will be "the day". It's cost me a bunch of extra profits the last few weeks... It wants to join its tech brothers with a big 10% day, and now that it's taken out 300..... 310+ if the market allows.

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probably better risk management than me! agree, this crazy bull run wants it there. hammer to end the daily!

it is quite odd with the market ripping and vix continuing to climb. I will almost definitely go flat or close to it this Friday, but there are a lot of SPY bull bets out to next week fwiw.

RKT "preview" of earnings 2 weeks ago caused all of the positive earnings news to be priced in, now that they are saying Q3 is going to be tougher lending wise, the stock is falling.

MaroonDynasty said:

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RKT "preview" of earnings 2 weeks ago caused all of the positive earnings news to be priced in, now that they are saying Q3 is going to be tougher lending wise, the stock is falling.

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30% unemployment, banks forced to halt evictions by the FEDERAL government, increased cost of refinancing

Is this a sign that the market will start moving in a logical and rational direction???

You'll let us know when this thing is about to turn right?

gig em 02 said:

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You'll let us know when this thing is about to turn right?

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In my opinion, what you are seeing now is uptrend exhaustion.

Daniel bat signal

Can you dumb this down so I can understand it?

Which reminds me, if quarterly rebalancing is a real thing it may be time to think of ways to take advantage of the runs we just had.

MaroonDynasty said:

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RKT "preview" of earnings 2 weeks ago caused all of the positive earnings news to be priced in, now that they are saying Q3 is going to be tougher lending wise, the stock is falling.

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My wife is in the business and says they should have as strong of a qtr as Q2. If they announce a divi soon that should give it an added lift.

McInnis 03 said:

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Josepi said:

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Besides Ripster, who are some other good follows on Twitter? What is OA's handle?

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Been meaning to do this awhile....

@stebottaioli - my go-to for Silver input
@dogthetrader - good general Info
@eliteoptions2 - just enough targets to be helpful
@pharmdca - doesn't say a lot, but knows his stuff, second to none on bio?
@cfromhertz - one of my faves
@danshep55 - good price point tips during the day
@breakingmkts - news bot
@w_biltmore85 - good generic info
@stevekavdc - LOVE his simple option flow observations
@reddogt3 - Scott Redler is very accomplished (and he knows it)
@traderstewie - soooo good at charting
@DeItaOne - THE BEST news bot
@psk2329 - great tidbits through the day
@wallstjesus - tons of info, but good enough to keep
@ripster47 - one of the great chartists
@Johnfcarter - not much info, I'm just a fan

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Since I don't have page 1 access, I edited my first post on page 2003 (whoop) as a way to refer people these twitter follows

I have two friends who are refinancing through them. started the process in early May and still haven't closed due to the volume they have. Not sure what margin is on selling mortgages but they don't lack the business .

Great idea, wonder if a mod could slip a sticky post in for you to keep up that list

boyz05 said:

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MaroonDynasty said:

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RKT "preview" of earnings 2 weeks ago caused all of the positive earnings news to be priced in, now that they are saying Q3 is going to be tougher lending wise, the stock is falling.

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My wife is in the business and says they should have as strong of a qtr as Q2. If they announce a divi soon that should give it an added lift.

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I can agree with that. Still kickin myself for not getting in at 19.

gig em 02 said:

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MaroonDynasty said:

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RKT "preview" of earnings 2 weeks ago caused all of the positive earnings news to be priced in, now that they are saying Q3 is going to be tougher lending wise, the stock is falling.

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30% unemployment, banks forced to halt evictions by the FEDERAL government, increased cost of refinancing

Is this a sign that the market will start moving in a logical and rational direction???

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All that was built into the market in March.

Im chalking it up to.... because earnings.

$30,000 Millionaire said:

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I think he is saying that everyone is so bullish that some selling will be required to appropriately prevent market maker upward exposure.

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False, that is a PhD student discussing nuclear physics on a stock market Twitter thread by accident. Right? I mean has to be...

Opinions on WLL

How much higher could it possibly go now that they emerged from bankruptcy