tsuag10 said:

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56.67 mil volume at the close on AAPL

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AAPL closed @ 119.99, what a battle.

MaroonDynasty said:

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tsuag10 said:

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56.67 mil volume at the close on AAPL

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AAPL closed @ 119.99, what a battle.

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Yep. Just like the battle for the White House last year. Nothing fishy here at all.

So ummmm ... back to DPW. Should we reconsider its place on the MA list? I understand the language included in disclosures can be more to CYA. But I'm rethinking whether I want to be too invested in this company. Might be time to pare back a bit.

Thinking I should take my 26% loss and run!

agdaddy04 said:

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Irish 2.0 said:

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MaroonDynasty said:

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The last 2 hrs on SKLZ, wow!

Love the volume on SKLZ.

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Closed 3/4 of mine. Carrying the last 1/4 of 5/21 25C net free

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Assuming you mean you're closing the options, not selling off your shares?

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Correct. I rarely trade equity. I'm an options trader

I would take assignment on some of that Tulum stock.

mazag08 said:

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RenoAg said:

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So ummmm ... back to DPW. Should we reconsider its place on the MA list? I understand the language included in disclosures can be more to CYA. But I'm rethinking whether I want to be too invested in this company. Might be time to pare back a bit.

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Don't mistake my pessimism.

Yes, it's a terrible company with virtually no chance of ever having positive cash flow, but that doesn't mean it can't continue to ride the gravy train for a while and accumulate fictitious value like everything else. This play was identified because it was remotely linked to BTC, and BTC plays have the potential to be pumped by retail investors and government DESPITE the lack of any decent fundamentals or common sense.

So if you're already in, do what you have to do to make money. Sell calls until you get your cost back.

If you aren't in yet, now is not a bad time.

But don't expect this to be anything more than a MA. And make sure you get out when you have a chance. Because when the gravy train is over, so is the company.

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Bro, I know it's a piece of crap. That's why I've only got $10K of it.

Roku acquired the This Old House franchise today (my all time favorite TV show). I may become emotionally invested soon.

$30,000 Millionaire said:

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I would take assignment on some of that Tulum stock.

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Only costs half your net worth!

ag94whoop said:

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White House Road said:

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ag94whoop said:

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Killin Me Smalls said:

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Thinking I should take my 26% loss and run!

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Better than my 40% loss on it. I bought DPW and WWR high and that was my bad and they are killing me. CLOV I bought at $14 and It's as bad as DPW.

I have faith in WWR. Not so much in CLOV or DPW. Tbh I am just giving them time to climb at least partially out of the hole before I exit.

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DPW and WWR have both been great to sell covered calls on spikes and buy them back on dips to collect premium and lower your cost basis.

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Yeah I just started doing CCs about 10 days ago and I haven't tried it on either of them yet because the better call prices were quite a bit lower than my cost and I was nervous it would shoot up and I would either have to buy back at a premium or lose money on the shares. I may try starting that this week and just hope for the best.

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Hope isn't a strategy. There's a reason you're posting everyday about being down big on every little market dip. (don't want this to come off as rude)

MaroonDynasty said:

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tsuag10 said:

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56.67 mil volume at the close on AAPL

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AAPL closed @ 119.99, what a battle.

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Two charts for our look into AAPL this morning. One is a mixed bag and the other is nothing too positive for AAPL.

The first is a look at the 8/21/50/200 DMA. AAPL closed below the 8/21/50 DMA. I placed the current smaller wave bounce 50% retrace Model T line at $121.37 and you can see AAPL could not reach that before pullback again.


The second is either encouraging big buy entry, or covered call with put hedge required. Fortunately I had already done so due to the sizeable trade position I'm holding (10k shares - I own 33000 net free shares not included in this discussion but, yes, I placed hedges in place on those with no covered calls).

What we focus on here is recognizing that AAPL failing to reach even the $121.37 bounce wave means it came no where close to attempting a Model T on the macro wave from above $145. Both numbers provided here. Obviously those can't be ignored. The good news is that AAPL is right at the macro trend line just above $116 and hasn't broken down on trend as of this post.

A flash down Monday into a recovery would be bullish for AAPL and a tradeable opportunity. A failure and hedges and covered calls take center stage. You may recall I entered 50% $130 hedges from the original share buys at $130.75. I posted entering those and selling 25% of AAPL at $137.23. Those expire next week so I closed them out Thursday and used what little post fed rally to enter $120 puts to next Friday on all 10k shares. Why? Because by then we either get the trend line holding or AAPL violating and not recovering it will result in a larger move down. As long as I capture premium on any steeper drop I can reposition accordingly.

Even with all my strategies I am currently down $13500 on the trade (assumes 100% covered call premium gains).



I didn't chart these but AAPL did reach Model T from it's all time high $145.07 and initial support bounce low $130.21. It also achieved MT on its next bounce low $118.39 from the high $136.31. We all know by now the 50% Model T phenomenon. It makes a stock NOT achieving that the anomaly and we have two active sequences of that not happening. That makes anyone aware of missing Model T more bearish short term.

How I play it Monday would be based on a flash down below $117. I would close out my $119 expiring weeklies and watch for volume V shape move for a dollar. If it doesn't happen I'll enter expiring $115 Puts to protect the downside and take the covered calls in place off to replace them with an extra 2 months premium (May to July).

If AAPL is failing that likely means the macro markets are dropping too. If AAPL bounces then we should get 4-5 weeks of good opportunity to the upside. HOWEVER - do not ignore the old saying "Go Away in May". There might be new paradigms in markets but the pre-summer (I don't want to baby sit positions during my summer vacation) has been historically accurate. Last year the S&P dropped nearly 300 points in May for example.

jj9000 said:

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Quote:

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Bottomline: A hammer will get dropped: Either on yields or the market. Happy trading.

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I wonder how much an inevitable Harris replacing Biden is being factored into the markets? It's a very real possibility to happen as early as this year.

NRD09 said:

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Maybe professional capitulation is what the fruit has been waiting on!

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That skew at 148 is not good. Very rare to see any rally with that number pegged so high.