Happy Birthday, early or not.

Yes, we are going up to go down bigly.

$30,000 Millionaire said:

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Happy Birthday, early or not.

Yes, we are going up to go down bigly.

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I have to agree, we touched the top of the trend line with that big run Friday. There has been low volume now on everything for weeks.

$30,000 Millionaire said:

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Happy Birthday, early or not.

Yes, we are going up to go down bigly.

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You think we're headed down quite a bit more? Considering you were preaching this current correction on these boards in advance of it even though a few disagreed with you, I think I'll take notice of what you're putting out there.

Orlando Ayala Cant Read said:

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$30,000 Millionaire said:

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Happy Birthday, early or not.

Yes, we are going up to go down bigly.

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You think we're headed down quite a bit more? Considering you were preaching this current correction on these boards in advance of it even though a few disagreed with you, I think I'll take notice of what you're putting out there.

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Let me first say I don't know what's going to happen.

What I think is going to happen is some high volatility and a lot of wild action with big swings (5-10%). Right now, I think we are going up, and I hope we do. It will create the perfect conditions to short. I sold covered calls against SPXU shares expiring this coming Friday, so I think at least the beginning of this week will have strong bull momentum. I'm in NVDA and PYPL Trades for next week, and will likely trade AAPL.

I do NOT want to short from here. I think we see craziness sometime between end of next week and mid October. A lot of bull effort was put into creating a reversal and a series of higher lows.

So for 59, I'm bearish leaning IF we go up to SPX 3400. I want us to get there so we can go to 2800 and hit 50 on VIX.

likewise, I can't predict where we're headed, but everything I look at says it's not a bullish place... I don't have the experience these other guys have, so take with a grain of salt:

Here's a SPY trend line and note, 2 H&S patterns on the hourly (about 12 days apart). The first one was followed with a gap up premarket, then a swift dump on the 17th. Current H&S pattern was followed with an ascending channel (Friday). Still stayed within hourly B bands, kissed top of it. Also a low volume run up. If we break 331 and DXY is rocketing Monday, I'll be loading puts. I'm also watching the price of oil and gold futures (both still trending down). VIX will have it's day in the sun soon too.

I'm just praying for an early day run to 330+ before the crash to get out of my TSLA bag holding from battery day. Other than that I look forward to cheap stocks.

BREwmaster said:

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likewise, I can't predict where we're headed, but everything I look at says it's not a bullish place... I don't have the experience these other guys have, so take with a grain of salt:

Here's a SPY trend line and note, 2 H&S patterns on the hourly (about 12 days apart). The first one was followed with a gap up premarket, then a swift dump on the 17th. Current H&S pattern was followed with an ascending channel (Friday). Still stayed within hourly B bands, kissed top of it. Also a low volume run up. If we break 331 and DXY is rocketing Monday, I'll be loading puts. I'm also watching the price of oil and gold futures (both still trending down). VIX will have it's day in the sun soon too.

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Well with this combined with last night's game I think I will set my stop and trailing losses a LOT tighter.

tv1113 said:

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I'm just praying for an early day run to 330+ before the crash to get out of my TSLA bag holding from battery day. Other than that I look forward to cheap stocks.

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This is why I'm asking. I feel like we are also going to get more down action and a couple of pretty bad red days for swing traders like me. I want the scenario you're saying as well so I can unload some things in the green and accumulate cash instead. Now the only problem with that is we might get the dark red day before we have a chance to let that plan play out.

tv1113 said:

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I'm just praying for an early day run to 330+ before the crash to get out of my TSLA bag holding from battery day. Other than that I look forward to cheap stocks.

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I hope you get it. I try to be careful when trading news, primarily earnings reports. I use a small position size, typically less than 0.5% of account value. I never trade binary events on TSLA. It is a stock that you get out of ahead of the actual event. If you do feel compelled to trade it, try using an ATM straddle with the idea that the stock moves so much that the strategy is profitable with the full loss of one leg. Some people do slightly OTM in both directions so that the initial strategy doesn't cost as much. You can also buy an iron condor.

tl;dr be careful on binary events.

Think or Swim
Spent much of yesterday adding TOS (Think or Swim) to my TDA account, setting it up, learning it, etc. and have to say I was pretty impressed so far with the functionality for a free technology. Watch lists, charts, analysis tools, etc. all pretty good.

Still haven't figured out yet how to set up my positions financial metrics or how to add colors (green/red). Any tips much appreciated and I am all ears on short cuts and things I should be setting up.

Lots of great videos on YouTube to set up tos

Colt98 said:

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Lots of great videos on YouTube to set up tos

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Feel like I have watched a zillion of them so far. There are for sure some really good videos. Think I will use TOS for my charts this next week and still use TDA main site for some of the other basic functions until I am familiar and cruising on TOS.

I really like making trades on my phone app.

Colt98 said:

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I really like making trades on my phone app.

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I've played around with it this weekend but didn't enter any buy/sell orders. Looks pretty straight forward. I will make a few trades next week via the app even if I am in front of my PC just for grins.

So like penalty drinks for people that go post on the politics board and get banned? Except that instead if drinks it's something related to investing?

I have 2 that is really getting my interest but I need to do a little more DD.

Prognightmare said:

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I have 2 that is really getting my interest but I need to do a little more DD.

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I think it would be cool if we had a trade of the week or something. Sort of like Redler does for his Friday pick. Day, Swing, etc that's a potential in and out. Could be longer hold. OA alerted to SNSS late Friday as an example that may be a short time frame of profit taking opportunity.

FJ43 said:

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Prognightmare said:

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I have 2 that is really getting my interest but I need to do a little more DD.

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I think it would be cool if we had a trade of the week or something. Sort of like Redler does for his Friday pick. Day, Swing, etc that's a potential in and out. Could be longer hold. OA alerted to SNSS late Friday as an example that may be a short time frame of profit taking opportunity.

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Sorry, I don't believe in trades of the week because it turns trading into gambling. If I want to gamble I'd rather be in Vegas because sexy women are everywhere.

I'll occasionally post a quick trade like when I posted BIGC was ripe for a quick trade a week or two ago but I don't like doing that.

I'm more of Ranger's approach to short-term trades, a few months. I would rather buy the shares because options is kind of an all or nothing but I will add options if I really like it.

Here's 2 that I'm interested in.

LPSN Nov 20th $55 or $60 calls. They've gapped up their previous 2 earnings releases and the last one they guided higher for this qtr, that's insurance in my book. The chart is really starting to look good but with the election I'm cautious and watching it closely. They report earnings on 11/5. If this didn't have the election looming it's a no brainer because I think it takes out its 52 week high.

MDB is the other one. The chart looks strong and it's in a 3 month Darvas box, I think it's about to go. Call sweeps are also occurring for the 10/16 $260c. The election and October surprises is what's concerning me.

Just put these on your radar.

Thanks. Added them to my watch list. Most of my trades range in the 2-14 day types and only day trade if my profit targets are hit early. I do maintain several mid term holds (2-3 months) and recently started rolling a % of my swing trade profits into long positions. I enjoy the more frequent trades and really have a lot of fun with them. Day trading would probably kill me though.

Vegas is a hard pass for me. Been there many times and had a lot of fun however I'm too competitive to have such losing odds.

Futures over 330 praying holds up in the morning

$30,000 Millionaire said:

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Stuff I like this week:

Options

• PYPL
• DOCU
• JD
• AAPL
• CRM
• EQIX
• ROKU on a dip

Shares

• CWH
• OSTK
• WMT at $132
• AMD at $75
• AAPL sub $110

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Nice! Got every one but WMT!

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2020-09-28/devon-wpx-deal-would-answer-investor-calls-for-permian-m-a-wave

SNAP upgrades to buy and PT raised to 28 from 22 at Guggenheim

Out of my tsla, let the crash commence