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BrokeAssAggie
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In reply to Fairfield_Ag • 4:02p, 5/6/21
https://www.prnewswire.com/news-releases/eqt-announces-transformative-transaction-with-alta-resources-301285216.html?utm_content=buffer6441d&utm_medium=social&utm_source=linkedin.com&utm_campaign=buffer


- EQT Corporation (NYSE: EQT) today announced that it has entered into a purchase agreement with Alta Resources Development, LLC (Alta), pursuant to which EQT will acquire all of the membership interests in Alta's upstream and midstream subsidiaries for approximately $2.925 billion, subject to customary closing adjustments. The transaction is expected to close in the third quarter of 2021, with an effective date of January 1, 2021.
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Brian Earl Spilner
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In reply to fightintxag13 • 4:13p, 5/6/21
AG
fightintxag13 said:

I'm a little disappointed I didn't buy some shares today.
Bought the hell outta the dip.
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Farmer @ Johnsongrass, TX
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In reply to FJ43 • 4:23p, 5/6/21
I tell ya, I don't know what Nancy made, but that Yellen comment that caused the Market to melt 2 days ago and me to exit my SPY isn't setting well. Don't get me wrong, I am sitting on a pile of cash and happy, but had I known timely that Yellen was behind the melt I would have held pat. Last S&P position I held that day was in my son's Coverdale ESA and since it was a S&P 500 mutual fund I didn't hurry to enter the order and waited to the end of the day. After finding out it was Yellen that caused the issue, I maintained that position. Just a crappy situation over all and I don't have much good to say about her.

I think I am selling his S&P mutual fund tomorrow if it's a green day at the end.

My T, XOM, and ABBV are holding up fine in downward market pressure that was experience this week.

I got the cash to buy bargains. I think I am going to be patient for a pullback.

I am holding my SINO, NIO, WWR, DNN, PLTR, IMMR and CLOV until they get green or go to zero.

At some point, SPY needs to revisit $338 again and close the gap...maybe 2022.


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ag94whoop
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In reply to Farmer @ Johnsongrass, TX • 4:26p, 5/6/21
AG
Farmer @ Johnsongrass, TX said:
I tell ya, I don't know what Nancy made, but that Yellen comment that caused the Market to melt 2 days ago and me to exit my SPY isn't setting well. Don't get me wrong, I am sitting on a pile of cash and happy, but had I known timely that Yellen was behind the melt I would have held pat. Last S&P position I held that day was in my son's Coverdale ESA and since it was a S&P 500 mutual fund I didn't hurry to enter the order and waited to the end of the day. After finding out it was Yellen that caused the issue, I maintained that position. Just a crappy situation over all and I don't have much good to say about her.

I think I am selling his S&P mutual fund tomorrow if it's a green day at the end.

My T, XOM, and ABBV are holding up fine in downward market pressure that was experience this week.

I got the cash to buy bargains. I think I am going to be patient for a pullback.

I am holding my SINO, NIO, WWR, DNN, PLTR, IMMR and CLOV until they get green or go to zero.

At some point, SPY needs to revisit $338 again and close the gap...maybe 2022.




You expect SPY to fall 20%?

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ProgN
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In reply to ag94whoop • 4:29p, 5/6/21
ag94whoop said:
Farmer @ Johnsongrass, TX said:
I tell ya, I don't know what Nancy made, but that Yellen comment that caused the Market to melt 2 days ago and me to exit my SPY isn't setting well. Don't get me wrong, I am sitting on a pile of cash and happy, but had I known timely that Yellen was behind the melt I would have held pat. Last S&P position I held that day was in my son's Coverdale ESA and since it was a S&P 500 mutual fund I didn't hurry to enter the order and waited to the end of the day. After finding out it was Yellen that caused the issue, I maintained that position. Just a crappy situation over all and I don't have much good to say about her.

I think I am selling his S&P mutual fund tomorrow if it's a green day at the end.

My T, XOM, and ABBV are holding up fine in downward market pressure that was experience this week.

I got the cash to buy bargains. I think I am going to be patient for a pullback.

I am holding my SINO, NIO, WWR, DNN, PLTR, IMMR and CLOV until they get green or go to zero.

At some point, SPY needs to revisit $338 again and close the gap...maybe 2022.




You expect SPY to fall 20%?




IF Dems don't compromise on corporate and individual taxes, combined with increase regulation on indusrties and green new deal bull****, then 20% drop will probably be a conservative estimate. It could get really ugly.
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FTAG 2000
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4:34p, 5/6/21
AG
Anyone figure out what the catalyst was for the end of day run?
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FJ43
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In reply to Farmer @ Johnsongrass, TX • 4:37p, 5/6/21
Farmer @ Johnsongrass, TX said:
I tell ya, I don't know what Nancy made, but that Yellen comment that caused the Market to melt 2 days ago and me to exit my SPY isn't setting well. Don't get me wrong, I am sitting on a pile of cash and happy, but had I known timely that Yellen was behind the melt I would have held pat. Last S&P position I held that day was in my son's Coverdale ESA and since it was a S&P 500 mutual fund I didn't hurry to enter the order and waited to the end of the day. After finding out it was Yellen that caused the issue, I maintained that position. Just a crappy situation over all and I don't have much good to say about her.

I think I am selling his S&P mutual fund tomorrow if it's a green day at the end.

My T, XOM, and ABBV are holding up fine in downward market pressure that was experience this week.

I got the cash to buy bargains. I think I am going to be patient for a pullback.

I am holding my SINO, NIO, WWR, DNN, PLTR, IMMR and CLOV until they get green or go to zero.

At some point, SPY needs to revisit $338 again and close the gap...maybe 2022.


I'm with you. Pretty frustrating. I went to enough cash position that I can see the market it go up and down but nothing I worry about. Trading is a bit tough since I can be a little impatient to let the technicals work for me.

If I was a betting man which I am really not, we go up into 420s (heck maybe slightly higher) then we have a pullback of some sort. I think 394-388 will be the first major walls to have to break to go lower and after that we see 370s. But can see some degree of those happening in 2021.

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FJ43
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In reply to FTAG 2000 • 4:40p, 5/6/21
AG 2000' said:
Anyone figure out what the catalyst was for the end of day run?
One side to the other. Except retail.

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FJ43
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In reply to Chef Elko • 5:07p, 5/6/21
Danwell Home said:
This thing is going to break through $1.90 and fill that nasty gap to $2.50. Should have a nice tailwind with money going to value.
Agree.
I don't think we see any movement on options or these shares until this breaks $1.90 then $2.00 with some degree of volume. Needs new money. It hasn't seen $2.00 since late Feb 2020 right after the covid debacle and that was in a free fall.

$1.88 has been the wall with two touches on back to back days in Jan at that $1.90.

Here's to a nice gap fill to $2.30, $2.65 and $3.00 before June.
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FJ43
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5:09p, 5/6/21

CIDM

My alarm went off today at $1.19. Didn't make it to my GTC tier 1 buy at $1.15 so still sits awaiting. Along with Tier 2 at $1.12.

If we get movement back up here market wise I may have to nibble a bit in the high teens on a flash.
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FJ43
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5:24p, 5/6/21

PLBY

Took today have this test the mean and 21 EMA around $45. Maintained long term trend. Think this was healthy for it and continuation.

I've made two nice options trades on it so far and will be looking at a June options play on this on any dip tomorrow. Being selective so not for sure entering but high probability for me. Will play small as I am on all things right now.


30k...thought of you when I looked at the ATR on this post close.



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FJ43
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5:34p, 5/6/21

NIO

Looks like it has pretty good support at this $35-36 level...ish.

I know double and triple but is this a quadruple bottom? Slightly higher lows on these 4.

I have June 45s riding on it that it is.

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Greendale 87
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In reply to FJ43 • 5:42p, 5/6/21
AG
PLBY - I bought in at 51 today as that looked like support prior to it's immediate drop to 45!!

BUT, the volume it generated on its bounce from 45 seems impressive. I'm holding!
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Farmer @ Johnsongrass, TX
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In reply to ag94whoop • 5:47p, 5/6/21
At some point that gap will fill. I don't know when, but as for 2021 I think we are safe. As for 2022 or 2023, maybe.
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FJ43
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In reply to Greendale 87 • 5:47p, 5/6/21
Greendale 87 said:
PLBY - I bought in at 51 today as that looked like support prior to it's immediate drop to 45!!

BUT, the volume it generated on its bounce from 45 seems impressive. I'm holding!
Think you will be good.
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FJ43
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5:52p, 5/6/21

FUBO

Let's see if double bottom tomorrow. Found support here for now.

May look at June options play here. 20c = $1.50, 25c = $0.65, 30c = .32 at close. Looked at LEAPs as well.

$20.94 is MT from 4/9 to today's low.

If macros hold up could be a play. Breaks that yellow trend line and I think it sees $24-25 again.

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tsuag10
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In reply to Farmer @ Johnsongrass, TX • 6:02p, 5/6/21
AG
Farmer @ Johnsongrass, TX said:
At some point that gap will fill. I don't know when, but as for 2021 I think we are safe. As for 2022 or 2023, maybe.
Can you please explain the theory of "gap fill"? I've seen it mentioned many times and I understand the general idea, but I guess I don't understand the core "why".
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Farmer @ Johnsongrass, TX
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In reply to FJ43 • 6:19p, 5/6/21
Quote:
If I was a betting man which I am really not, we go up into 420s (heck maybe slightly higher) then we have a pullback of some sort. I think 394-388 will be the first major walls to have to break to go lower and after that we see 370s. But can see some degree of those happening in 2021.
I agree with you on that 420 move, the 394-388 move, and both within the next 60 days (...to me definitely we will test 398 to 395). The 398-395 is the pullback I'll be waiting for to jump in with cash.
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Farmer @ Johnsongrass, TX
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In reply to tsuag10 • 6:29p, 5/6/21
tsuag10 said:
Farmer @ Johnsongrass, TX said:
At some point that gap will fill. I don't know when, but as for 2021 I think we are safe. As for 2022 or 2023, maybe.
Can you please explain the theory of "gap fill"? I've seen it mentioned many times and I understand the general idea, but I guess I don't understand the core "why".
I'll give it to you as I received it. Context - I was professionally trained in commodity trading by Mr. Alan Ater(Class of '48)/V.P. of Commodity Trading, Anderson Clayton & Co., Houston, TX. I asked him the same question as young pup and his reply was, "There are standing orders in that gap, buys and/or sells, that never got filled because the market gapped above or below. The market will go back to execute those orders. It's all a matter of time. No one knows the time it will happen, but it will happen (orders get filled)."

There may be other answers, but I never researched or sought a secondary opinion. It's what I have worked with my entire career.

ETA: RIP Mr. Ater if you are reading this. I miss you.
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McInnis 03
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In reply to Farmer @ Johnsongrass, TX • 6:40p, 5/6/21
AG
Is gold a commodity? If so, opinion please.
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Farmer @ Johnsongrass, TX
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In reply to McInnis 03 • 7:07p, 5/6/21
McInnis 03 said:
Is gold a commodity? If so, opinion please.
Oh yes. It's a commodity. Gold Traders prefer Metals or Precious Metals versus commodity. Supply & Demand.

I understand that retail demand is high and evidently one of the U.S. gold mints is shut down so retail coin premiums(basis like +350 to +450/oz) have been stronger. My opinion, I do not see it as a hedge against inflation.

I spent some time in retail metals. If you like gold, buy the mining stocks, easier to sell when you change your mind about the metals market. If you need physical to hold in your hand, buy functional stuff, gold belt buckle, cuff-links, tie-tacs, collar pins, buttons, etc. be able to use it, my opinion. I use to do international travel. I have a blue sport coat/blazer with gold coin buttons front and cuffs. I figured if I got in some sort of trouble internationally, lost a billfold or ?, buttons were my way out of town. No one notices, because of brass colored buttons, most think they're just brass. And, you don't have to remove your coat in the airport metal detection since gold is non-ferrous, if that matters.

I had a good friend, Harvard graduate, headed the Kidder Peabody gold desk (before that outfit got consumed). He was trading soybean meal in southern Alabama. He called me the day he resigned to go back to New York to KP. He said, "Yeah, I've got to get back to New York, a Harvard Degree just doesn't mean much down here." We had a good laugh. I digress, sorry.

Hope some part of this helped.
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FJ43
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In reply to Farmer @ Johnsongrass, TX • 7:25p, 5/6/21
Great info. Thanks for the explanation and sharing.
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jimmo
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In reply to FJ43 • 7:32p, 5/6/21
Thanks Farmer
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irish pete ag06
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7:58p, 5/6/21
AG
They say trade what's in front of you. I've been locked in on small caps too much, so trying to dip my toe into looking for call or put options of large and mega caps trading in a channel.

Looking at microsoft... please any of you elders scrolls please point out something to me that's dumb.

On the daily MSFT has tested the blue (34/50) ribbon and rebounded each time since COVID crash.

I like those long wicks at the bottom of the daily touching the 34/50 too.

On the weekly I MSFT has rebounded each time it's dipped into the green ribbon (8/13). I've drawn channel lines to help pick a strike.


Gonna attempt to enter into the $270 calls for JUN in the morning for 1.25. Looking for a triple, stop loss set at .75.
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$30,000 Millionaire
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8:06p, 5/6/21
AG
Precious metals looks great by the way.
You don’t trade for money, you trade for freedom.
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Thundergon
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8:18p, 5/6/21
I've posted three beta stocks that have a similar chart. Take a look at the orange line and the light blue line. They've been rejected from the 5SMA several times the past few days, and have bounced from the 50SMA. Something's gotta give sooner or later as these averages are closing in on one another.


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tsuag10
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In reply to Farmer @ Johnsongrass, TX • 8:28p, 5/6/21
AG
Thank you, sir
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FJ43
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In reply to irish pete ag06 • 8:47p, 5/6/21
irish pete ag06 said:
They say trade what's in front of you. I've been locked in on small caps too much, so trying to dip my toe into looking for call or put options of large and mega caps trading in a channel.

Looking at microsoft... please any of you elders scrolls please point out something to me that's dumb.

On the daily MSFT has tested the blue (34/50) ribbon and rebounded each time since COVID crash.

I like those long wicks at the bottom of the daily touching the 34/50 too.

On the weekly I MSFT has rebounded each time it's dipped into the green ribbon (8/13). I've drawn channel lines to help pick a strike.


Gonna attempt to enter into the $270 calls for JUN in the morning for 1.25. Looking for a triple, stop loss set at .75.

Looks like a nice set up from a phone anyway. Maybe a helpful tip.

Draw a decending trend line on the daily from the exact price at top of top candle down to the top of lowest candle before today and extend it. Broke that trend line today. But Confirm it breaks the trend line back up before entry and not a false breakout. I also then do the same but an hourly chart and down to 10 min chart to confirm. You may get a move down tomorrow below todays close then reclaim it for entry.

Also give the ATR a check and see what it reclaimed after today's close. .
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tsuag10
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8:51p, 5/6/21
AG
Re: Gap Fill

I don't know this guy from Adam, but his explanation of why a gap always gets filled seems to line up with Farmer's reason. I thought I'd share for others like me who are wanting to learn.

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FTAG 2000
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10:09p, 5/6/21
AG
Looking at IWM and the 8 and 21 DEMAs...

It looks to have lost both on the daily over the last 6 months as a time frame. Still above both on the hourly (last two weeks), and barely hanging on to the 21 day on the weeklies for the last year.

More pain on the horizon for the small caps?
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Ornithopter
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In reply to FTAG 2000 • 10:15p, 5/6/21
AG
Most likely, especially the ones that are terrible companies.
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Ornithopter
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10:18p, 5/6/21
AG
TSLA lol

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BlueTaze
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10:33p, 5/6/21
Cathie Woods snatched $50M worth of SKLZ yesterday.

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irish pete ag06
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In reply to FJ43 • 11:09p, 5/6/21
AG
FJ43 said:
irish pete ag06 said:
They say trade what's in front of you. I've been locked in on small caps too much, so trying to dip my toe into looking for call or put options of large and mega caps trading in a channel.

Looking at microsoft... please any of you elders scrolls please point out something to me that's dumb.

On the daily MSFT has tested the blue (34/50) ribbon and rebounded each time since COVID crash.

I like those long wicks at the bottom of the daily touching the 34/50 too.

On the weekly I MSFT has rebounded each time it's dipped into the green ribbon (8/13). I've drawn channel lines to help pick a strike.


Gonna attempt to enter into the $270 calls for JUN in the morning for 1.25. Looking for a triple, stop loss set at .75.

Looks like a nice set up from a phone anyway. Maybe a helpful tip.

Draw a decending trend line on the daily from the exact price at top of top candle down to the top of lowest candle before today and extend it. Broke that trend line today. But Confirm it breaks the trend line back up before entry and not a false breakout. I also then do the same but an hourly chart and down to 10 min chart to confirm. You may get a move down tomorrow below todays close then reclaim it for entry.

Also give the ATR a check and see what it reclaimed after today's close. .
Cool. Thanks for sharing. Does this look right?
Daily


Hours and 10 min line added... this is on the 10 min chart.


Also touched and rose back up above -1 ATR today on the daily
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FJ43
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5:01a, 5/7/21

Mornun,

Futures slightly green this morning.
VIX below 19 at 18.3
SKEW is up high again though at 144.47

Hoping for a solid close.

Will be watching SPY 413.67 to not breakdown and 419.07+ continuation.
Think we need to hold 418 to keep momentum up for today. If we lose 417.15ish we may play below that today.

Qs need to fill the gap to 335+ IMO to get back on track upward. Get below 333.50ish and I think we play below mostly. Lose 326.45 and whoops.

I'm still playing small and other than quick scalps/swings not really putting on many May options looking mostly to June. Shares wise I am where I want to be exposure wise on most of our plays. Trading for swings/cash flow. Its still May after all.

Trade wisely!

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