FDA approves pfizer vaccine. Wonder if that's why the SPY calls started selling end of the day. If we could get stimulus news it could be a nice pop.

Prognightmare said:

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Oracle is moving its headquarters from Silicon Valley to Austin, Texas

Because liberal policies suck. Hopefully the dumbasses don't vote for more of the same **** they're escaping from.

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I don't understand why this is a big deal? They built a headquarters building (even if they didn't call it that) on town lake two years ago

https://www.bizjournals.com/austin/news/2018/03/23/oracle-opens-its-office-of-the-future-in-austin.html

Also Austin already votes for dog **** liberal polices. That is why you drive the someone's living room under ever overpass.

When will people realize they are being used and abused?

$30,000 Millionaire said:

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this just has to go soon. $AMZN

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My only concern is the s&p fund rebalances with the tsla add. Could amzn be one of the "heavy" ones that needs to be reduced for proper weighting after the add.....

McInnis 03 said:

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$30,000 Millionaire said:

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this just has to go soon. $AMZN

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My only concern is the s&p fund rebalances with the tsla add. Could amzn be one of the "heavy" ones that needs to be reduced for proper weighting after the add.....

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The closer to the apex (or beyond) of a symmetrical triangle, doesn't the magnitude of the move lessen once it breaks out? So the further into this we get shouldn't we expect more fizzle than fireworks, relative to the absolute insanity that has been the 2020 market?

FJ43 said:

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oldarmy1 said:

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You guys are going to hate me. I can't say it. FJ......you tell them. But before you do everyone know that it was a late decision.

Now, i will go shame myself while he tells you.

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Well....there was a quick tweet during a back and forth between PINS exit, SPY Puts and WWR shares that OA was going in quick on DBX weeklies for a potential double. Let's just say that tweet was when the 12/31 22.50s were at $0.64. They closed at $1.04 and that was when the share price was at about $22.50. It is currently at $24.15.

Yes full disclosure I didn't do much but pull up the chart and umped in the pond with OA.

Now you can hate me as well.

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If this was all a long-game build up for the "they hate us cause they anus" joke, then I applaud you for your commitment to comedy sir.

There is a lot of lent up energy in $AMZN. It may correct through time. I am in far dated calls on it. Position size correctly.

backintexas2013 said:

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FDA approves pfizer vaccine. Wonder if that's why the SPY calls started selling end of the day. If we could get stimulus news it could be a nice pop.

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Vaccine, I bet, is enough to have futures +2% by Monday knowing how the market way over-reacts to the whiff of it. I've heard via radio that they aren't even close to a stimulus of any kind.

I suspect what happens is it will wait until the GA senate runoff. If Democrats get a super majority, it will be passed ASAP.

Casino leaps?

https://www.texastribune.org/2020/12/09/sheldon-adelson-texas-casinos/

If you're looking for a quick buck and able to sell naked calls, TSLA 12/18 900c are going for just over a dollar and 800c for $3.25.

wanderer said:

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If you're looking for a quick buck and able to sell naked calls, TSLA 12/18 900c are going for just over a dollar and 800c for $3.25.

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I could buy the shares if it got up there, but not how I want to deploy $80K.

https://www.cnn.com/2020/12/12/business/astrazeneca-alexion-39-billion/index.html

Absolute dumb luck for buying ALXN 1/15 130c (following @duckingmoney) yesterday. Should open at $40-45 on Monday.

wanderer said:

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https://www.cnn.com/2020/12/12/business/astrazeneca-alexion-39-billion/index.html

Absolute dumb luck for buying ALXN 1/15 130c (following @duckingmoney) yesterday. Should open at $40-45 on Monday.

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Wow. I hope you bought a lot!

Whoop, I followed duck on that as well. Only 3 contracts

Hopefully I won't be berated too much for asking this, but what resource would you fellas recommend to educate myself better on day trading? I have been following this thread for over a year now. Want to really get the ball rolling on becoming less ignorant.

Books, videos, etc, I love to learn. Thanks in advance!

$30,000 Millionaire said:

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irish pete ag06 said:

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Hopefully I won't be berated too much for asking this, but what resource would you fellas recommend to educate myself better on day trading? I have been following this thread for over a year now. Want to really get the ball rolling on becoming less ignorant.

Books, videos, etc, I love to learn. Thanks in advance!

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What type of day trading? Stock, options, futures? Most on here are stocks and options. Even within that, there are penny stocks and volatile industries like biotech.

Read beginning investing and options books. You really shouldn't trade options heavily until you have a solid fundamental understanding. Also, nothing beats experience!

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Thanks. I'd love to learn about any and all of it and eventually of course be able to keep up with this thread in options trading. I've dipped my toe into penny stocks and yes I agree nothing beats experience.

I was mainly looking for what books or other resources would be recommended for options trading.

irish pete ag06 said:

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Hopefully I won't be berated too much for asking this, but what resource would you fellas recommend to educate myself better on day trading? I have been following this thread for over a year now. Want to really get the ball rolling on becoming less ignorant.

Books, videos, etc, I love to learn. Thanks in advance!

---

I think you'll find this thread very helpful to point you in the right direction or provide some guidance. Below is a link to page 1 of this thread where OA (oldarmy1) recommends reading The Handbook of Technical Analysis a book on technical trading by Darrell Jobman. I wish I could remember how long ago it was (probably a month or two ago) but you may be able to search tis thread to find a list of books that were listed.

https://texags.com/forums/57/topics/2721405/1

Day trading is a very specific type of trading and while there are for sure some day trades and scalps (very quick in and out) that occurs but most on this thread I would say aren't true day traders where you are trading minutes apart in some cases. However for true day trading being able to read charts technically is foundational. The above book will be very helpful if you can find a copy. There are also many other books out there but the above is the recommended by OA.

If you are serious about day trading I would suggest looking into Dan Shapiro's method.

I use it and I know there are several others on this thread also incorporating it in their toolbox.

Accessatrader.Com

Or search PS60.

I'm not compensated at all for this. I simply have lived the results.

Day trading only and a good community.

FJ43 said:

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irish pete ag06 said:

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Hopefully I won't be berated too much for asking this, but what resource would you fellas recommend to educate myself better on day trading? I have been following this thread for over a year now. Want to really get the ball rolling on becoming less ignorant.

Books, videos, etc, I love to learn. Thanks in advance!

---

I think you'll find this thread very helpful to point you in the right direction or provide some guidance. Below is a link to page 1 of this thread where OA (oldarmy1) recommends reading The Handbook of Technical Analysis a book on technical trading by Darrell Jobman. I wish I could remember how long ago it was (probably a month or two ago) but you may be able to search tis thread to find a list of books that were listed.

https://texags.com/forums/57/topics/2721405/1

Day trading is a very specific type of trading and while there are for sure some day trades and scalps (very quick in and out) that occurs but most on this thread I would say aren't true day traders where you are trading minutes apart in some cases. However for true day trading being able to read charts technically is foundational. The above book will be very helpful if you can find a copy. There are also many other books out there but the above is the recommended by OA.

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Have you guys been buying this book used on amazon from 3rd party sellers like this for around $98?

https://www.amazon.com/dp/1557385971/ref=cm_sw_r_cp_apa_fabc_lUw1Fb9VWZGQQ

I did and it was just fine

Actually got it for $57

Master Swing Trader by Alan Farley
Mastering the Trade by John Carter
Handbook of Technical Analysis by Darrel Jobman
Trading in the Zone by Mark Douglas

I've found these books very helpful. Patience is the most important thing in day trading and waiting for the right setups. For me personally, that's the hardest part is waiting for a directional move to confirm rather than jumping in on the anticipation of a move. If trading equity, using break even as your stop is your best friend.

If you're on Twitter, be careful who you follow also for advice. OA, Dan Shapiro, Ripster, and Adam Mancini are about the only big names I try to learn from. Too much noise and differing thought processes will really hurt you starting out.

zwhag2010 said:

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FJ43 said:

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irish pete ag06 said:

---

Hopefully I won't be berated too much for asking this, but what resource would you fellas recommend to educate myself better on day trading? I have been following this thread for over a year now. Want to really get the ball rolling on becoming less ignorant.

Books, videos, etc, I love to learn. Thanks in advance!

---

I think you'll find this thread very helpful to point you in the right direction or provide some guidance. Below is a link to page 1 of this thread where OA (oldarmy1) recommends reading The Handbook of Technical Analysis a book on technical trading by Darrell Jobman. I wish I could remember how long ago it was (probably a month or two ago) but you may be able to search tis thread to find a list of books that were listed.

https://texags.com/forums/57/topics/2721405/1

Day trading is a very specific type of trading and while there are for sure some day trades and scalps (very quick in and out) that occurs but most on this thread I would say aren't true day traders where you are trading minutes apart in some cases. However for true day trading being able to read charts technically is foundational. The above book will be very helpful if you can find a copy. There are also many other books out there but the above is the recommended by OA.

---

Have you guys been buying this book used on amazon from 3rd party sellers like this for around $98?

https://www.amazon.com/dp/1557385971/ref=cm_sw_r_cp_apa_fabc_lUw1Fb9VWZGQQ

---

Yep that's how I came about my copy. The one I bought was in excellent to new condition for about that price. Great read and something you'll refer back to and refresh now and then.

Anyone familiar with Enzolytics, ticker ENZC? They are a Plano based bio company working on development of antibodies for HIV and Coronavirus, and doing so in partnership with TAMU Institute for Preclinical Studies. They just filed a patent for treatment of MS too and seem like they could potentially pop bigtime.

With the connection to TAMU, I'm wondering if anyone here has any insights into the company.

https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/enzolytics-inc-files-provisional-patent-183000036.html

Thundergon said:

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If you're on Twitter, be careful who you follow also for advice. OA, Dan Shapiro, Ripster, and Adam Mancini are about the only big names I try to learn from. Too much noise and differing thought processes will really hurt you starting out.

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Excellent advice. I cleaned out all the noise the days before the election. That list can grow quickly. I still have Ripster as a follow but turned off the alerts.

One additional follow I have is Scott Redler. Don't really use his 'tier' system but he's straight to the point, motivates and reinforces having a system and sticking to it. Also daily brief on market sentiment.

IMO there are a number of sharp guys out there but you'll be best served by not trying to be and do all things. Find what you enjoy, is repeatable and is proven that clicks for you. That way you win and those you pass it onto will as well.

Redler is good. As is Hidden Pivots.

FishrCoAg said:

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I can't even take proper advantage of all the ideas I get on this thread! Any advice on how to pick and choose? My real job doesn't lend itself to constant supervision of positions during the day. That said, my trading account has almost doubled since January

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When I get busy with real work, I still try to keep an eye on OA's twitter and try and keep an eye out for Ranger like plays (monthlies or further out). That way if you're playing something, you're in something that you can let marinate (and doesn't require much action on your part).

I got in on DBX on Friday, just dumb luck really, saw the flow coming in all day. Then I saw OA tweeting about it later. I still stayed small in it as it's not a name known for big moves. It could be $19 Monday or 28, LOL.

FishrCoAg said:

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I can't even take proper advantage of all the ideas I get on this thread! Any advice on how to pick and choose? My real job doesn't lend itself to constant supervision of positions during the day. That said, my trading account has almost doubled since January

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Congratulations on a great year! You've done way better than the majority out there already. Maybe you found your niche already?

Sorry so long. These are just my personal thoughts. I'm sure others will chime in as well. I had to ask myself what I enjoy, what is responsible, sustainable and what I am willing to invest in terms of time. Then mesh it all together. I made it a mission to be a student of the game. Surrounding myself with great minds and never trying to be the smartest guy in the room. Never stop learning.

Through that I discovered I rally like trading. Buying, selling, learning charting, etc. The buy and hold has always been boring to me probably because it's inactive so to speak. However OA opened my eyes with Net Free. A whole new level of buy and hold. That's now a game within itself for me. It's liberating (and responsible) to own shares of something for 'free'. It's a win by itself. So my system has evolved and is every evolving as I learn and soak up all I can retain from a number of folks on this board and the few on Twitter.

Now I buy with the aim of net free or high long value. Go net free and redeploy the capital to the next. I keep a portion of capital aside for options plays now. Pretty much abandoned true swings. Options are my fun and my active trades for the most part . Just enough to keep me excited but not enough to hurt should it not go as planned. Position sizing and stops have taught me a lot the hard way.

Maybe just ask yourself those questions first. Start and adjust and have fun. Use alerts so you don't have to baby sit and you'll find the magic mix of what is right for you.

Thanks to you and Brew. Exactly what I was looking for.