Futures all up so far. Let's see if they hold for the morning session.

These green futures smell like a trap.

RSP715 said:

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These green futures smell like a trap.

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It's 260K of volume on the spy. I agree on the trap

What time this morning do we feel good about the green if we get continuation? 10:30 EST? 11?

Also what a hell of a week to take off last week. Thoughts on SQQQ and SPXU hedges? Wait for continuation before selling a bit for profit or continue to hold for a flash down with election craziness? I realize this has a lot to do with risk tolerance and how much a person has still in the market that these are hedging against, but wanted to hear some others thoughts. I was thinking of putting tight stops on about 1/4 of it, loose stops back to initial price on 1/2 and yolo with the other 1/4.

IMO, support/resistance, technicals, fundamentals, etc. are meaningless on the eve of the most contentious election in modern history. Jumping in or out of stocks today is more riverboat gambling without the Cajun buffet.

If you don't have the ability to watch every minute of your trades over the next 72 hours, then cash is your best friend.

Rumor has it Wells Fargo is fixing to lay off lots o people

https://www.wraltechwire.com/2020/10/27/wells-fargo-workers-report-layoffs-underway-50000-jobs-at-risk-news-site-says/

Prognightmare said:

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IMO, support/resistance, technicals, fundamentals, etc. are meaningless on the eve of the most contentious election in modern history. Jumping in or out of stocks today is more riverboat gambling without the Cajun buffet.

If you don't have the ability to watch every minute of your trades over the next 72 hours, then cash is your best friend.

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My plan through Wednesday, at this point, is I have stops and alerts set on my positions and other than the periodic check not going to constantly monitor those. Will focus the next few days on light cash flow trades on options, day trading channels, etc. for fun. Not planning on adding anything heavy the next few days and will keep some powder dry.

Rice and Fries said:

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Rumor has it Wells Fargo is fixing to lay off lots o people

https://www.wraltechwire.com/2020/10/27/wells-fargo-workers-report-layoffs-underway-50000-jobs-at-risk-news-site-says/

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It's been happening for a while. The business banking group in Houston went from 80+ lenders a few years ago down to 4 as of last month.

What I've heard is that one of the conditions the regulators put on wells when they acquired Wachovia is that they maintain certain levels of employment and # of branches for 10 years. That time period is over and the new leadership is more focused on commercial business vs retail. That requires significantly less people.

CWH up 8% after beating earnings by almost 50%. Can we run back up above $30 please.

Bob Knights Liver said:

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CWH up 8% after beating earnings by almost 50%. Can we run back up above $30 please.

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This stock should be at least $50. Maybe this is the fuel that finally lights the fire and clears out a lot of the skeptics.

59 South said:

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Bob Knights Liver said:

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CWH up 8% after beating earnings by almost 50%. Can we run back up above $30 please.

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This stock should be at least $50. Maybe this is the fuel that finally lights the fire and clears out a lot of the skeptics.

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CWH and OSTK are two that continue to puzzle me. Would not be surprised to see them sell off this good news again on CWH.

Yea agree. Could see it go either way tbh.

Casino OPEN

DUG a nice entry down here. oil futures were dumping last night, this just looks like pre-market profit taking. UVXY also cheap down here.

FJ43 said:

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BREwmaster said:

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Boat Shoes said:

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Anyone buying more election hedges in the morning? If so, what is your pick?

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DUG is my favorite, but I've been swing trading UVXY too. With most of europe going lockdown, watch the price of oil over the next few weeks. DUG (oil short ETF) will keep ripping. DUG is in bullish consolidation now.

I do think we get a little boost with Trump reelected Tuesday, but if oil keeps tanking the rip will get sold. The markets are unfortunately tied to oil.
When not if on Trump elected, it's going to be 320+ electoral. Hide n watch.

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Just heard a few states have said they will not be done counting until Friday. Manpower issues apparently. Think one was PA. That should make for a fun trading week.

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yeah this week should be daytrade or hedge week, lol. PA should get over itself, they will still be counting votes when it's called

Shoulda bought more nio

astroaggie13 said:

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Shoulda bought more nio

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Or I shouldn't have sold my NOV6 32c's I had on Friday.

59 South said:

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Bob Knights Liver said:

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CWH up 8% after beating earnings by almost 50%. Can we run back up above $30 please.

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This stock should be at least $50. Maybe this is the fuel that finally lights the fire and clears out a lot of the skeptics.

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Not looking half bad for the moment.

spy put premiums looked more juiced than normal for wednesday

McInnis 03 said:

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astroaggie13 said:

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Shoulda bought more nio

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Or I shouldn't have sold my NOV6 32c's I had on Friday.

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Or I shouldn't have sold my $5 Jan 2021 leaps a few months back

Fisker (FSR) finally showing some upward momentum the last couple trading days. It's up 12% today.

I hold some well-underwater February $17.50 calls, so I'm hoping this new direction takes hold after the ho-hum SPAQ transaction.

Thoughts on FSR's positioning in the EV segment?

Nice SPY break through 330, if we can hold there's room to run.

Eyeing that gap to 338 as possible post election run

BREwmaster said:

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DUG a nice entry down here. oil futures were dumping last night, this just looks like pre-market profit taking. UVXY also cheap down here.

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is the bid/ask spread on DUG always this large? seems like it's really low volume and would be hard to exit a spread.

GOCO is a beating. Down 30% in it. I know it's supposedly a Q4 stock, but man it's hard to watch. I'm glad my position isn't massive.

Henrik has the experience to make it work...it's just no product till '22 (i think that's the date) that is the big knock on any kind of valuation.

txaggie_08 said:

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GOCO is a beating. Down 30% in it. I know it's supposedly a Q4 stock, but man it's hard to watch. I'm glad my position isn't massive.

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You're 10% up on me.

Will start buying again now that it's going to break 10.

Yeah, I figured I'd buy more of it falls below $10 to lower that dollar cost average and just hope it recovers in the next 3-4 months.

FTCH

Getting BABA interest and now its off like a rocket

FTCH just got a rocket up it's butt

Sold my remaining FTCH calls an hour ago

It came so close to our $3.50 target

and there it is!

bigbass1170 said:

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Sold my remaining FTCH calls an hour ago

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E said:

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It came so close to our $3.50 target

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Lets ride!