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matthop
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In reply to BrokeAssAggie • 6:09p, 5/11/21
AG
Just about to comment on that. Up double digits ah. Wish I had any clue as to how anything works in this market
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FJ43
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In reply to SF2004 • 6:13p, 5/11/21
SF2004 said:
So up or down tomorrow?

AH looks to be flat on SPY.
If I was a betting man more of the same. Intraday volatility. Don't think we gap down for open but won't surprise me to see tests of several of today's levels again.

VIX ended at 21.84.High enough to not be smooth IMO.
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$30,000 Millionaire
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In reply to cageybee77 • 6:13p, 5/11/21
AG
cageybee77 said:
"Sometimes senor, de bool he does not loos"
yes, we could certainly charge up from here, but we have been rejected from the mean 3X recently.

13700 is going to be stiff resistance on Nasdaq. What catalyst will drive it higher? I'm just highlighting that the upside is limited right now.
You don’t trade for money, you trade for freedom.
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FTAG 2000
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6:14p, 5/11/21
AG
Can't find any news on academy.
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FTAG 2000
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6:24p, 5/11/21
AG
Wonder if someone got margin called on ASO.
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McInnis 03
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In reply to FTAG 2000 • 6:27p, 5/11/21
AG
This is beautiful
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kyledr04
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6:32p, 5/11/21
AG
I thought about buying academy a couple months ago around earnings but didn't. Then everytime it goes on a run I think surely it's done.

I'm going to stay out so yall keep winning.
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Charismatic Megafauna
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In reply to FTAG 2000 • 6:37p, 5/11/21
AG
AG 2000' said:
This fubo earnings call...

https://giphy.com/gifs/VB5WwlZIt8eRy

Did anyone say GOOOOOOOOOLLLLLLLL!!!!
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djmeen95
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6:43p, 5/11/21
AG
SNDL earnings were nice and the fact they are debt free makes me feel good.

Time to smoke some more shares AH.

Then hit up Jack In The Box.




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FTAG 2000
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6:52p, 5/11/21
AG
The big 4-0 for ASO.
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trip98
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In reply to FTAG 2000 • 6:54p, 5/11/21
AG
AG 2000' said:
The big 4-0 for ASO.

No kidding! I thought it was error on my account
Are the reddit folks doing something?
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HouAg12
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6:57p, 5/11/21
AG
ASO!
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BrokeAssAggie
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6:59p, 5/11/21
How high y'all think ASO can go? It's heavily shorted, right?
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Mostly Foggy Recollection
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7:15p, 5/11/21
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SoTXAg09
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7:22p, 5/11/21
AG
Regarding ASO, I just want to point out I got stopped out here. Yup...
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irish pete ag06
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In reply to FJ43 • 7:34p, 5/11/21
AG
FJ43 said:

Scalping Tips

This is for intraday/week option scalping primarily. Can be weekly or monthly calls. Can work for shares as well. These are probably my bedrock top items I am working to make natural vs conscious thought, and just my opinion. It is also proving out to be much more consistently profitable if you are a trader.

A few basic tips I have learned the over time through personal experiences, execution, trial and error, studying the likes of Dan, Ripster, Redler, VS, Elite, etc. Nothing earth shattering but these can make the difference between a red or green trade. Adopting a little here and a little there.

  • Mentally probably #1. Probably hardest to accept if you like winning. Cut your trade as soon as the trade goes against you technically. Its a cheap price for an option contract ($0.65) vs. being 10%, 15% or more % down and hope it comes back. No need to hope the price action and chart will tell you anyway. Ripster I think said he averages 1/3, 1/3, 1/3 between lose, scratch and win. The key is the losers must be smaller than the winners. Cutting is key.
  • Scale out. Take you money. Dan refers to it as take on way up or down. Others as scale out. Don't wait for max profits. As an example if I buy 6 contracts I scale them 1 or 2 at a time on way up or down between resistance levels usually when approaching. The math works out in your favor.
  • Leave a runner....or two. Its ok to leave a runner but make sure to cut it at break even or above.
  • Don't watch the profit $ or % constantly. Focus on the levels as they will determine profit and loss.
  • Technically probably #1. Know your SR (support/resistance) levels. Begin with daily, then add hourly the if you want add 10 or 15 minute levels. I use colors for each time. One for daily, one for hourly and one for 10 minute. Helps me not to think intraday and just execute which level I am approaching.
  • Big one that has helped me gain more winners due to entry and exit. Intraday add trend lines diagonally. Keep updating the as things change. If the price action breaks the up or down trend the vast majority of the time its heading to an SR level.
  • Trust your levels not your emotions. Like a pilot let the instruments tell you what's happening.
  • Enter after confirmation or 2nd candle calls or puts. No need to time the best entry or exit. Often find myself exiting trades because I was impatient.
  • Focus on knowing something intimately. SPY, Qs, SPX or whatever and know it well. Don't try and trade all things early on. Know it like your children.
  • VIX. Pay attention to it. Rising and chances are your trade will be impacted. Falling the same.
  • Macros. Pay attention to them. Just because one is ripping doesn't mean the other will.
  • Make 10 trades and grade yourself. If you can't have a winning hand with 10 trades you likely won't with 20 or 100. Begin with 1 share or 1 contract until 10 total equals a winning trend with no losers. Scratches can be included. This sure helps be patient on entry. Think Ripster uses 10 winning trades in a row before you can size up.

There are of course many others things technically you can use and should pay attention to. EMAs (or SMAs), Bollinger, MACD, RSI, SAR, etc., etc.

Hope that helps some of y'all that are giving it a whirl in a tactical market at the moment. I am learning daily and just wanted to share some tips.

51 trades today which includes buys and scaling out since scaling one or two at a time adds up. 5 losers and one was an ill thought out carry over in 'hope'.


Copied and pasted into my discord log. Thanks FJ43
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AgCPA95
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In reply to BrokeAssAggie • 7:50p, 5/11/21
AG
CrazyRichAggie said:
How high y'all think ASO can go? It's heavily shorted, right?
TDA showing 48% of float shorted as of 4/15/2021....I can't find a current data point.
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irish pete ag06
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In reply to David_Puddy • 7:59p, 5/11/21
AG
David_Puddy said:
irish pete ag06 said:
Me too. Just hard to stomach the cost.

I mean I understand it could pay for itself and all, but still.

What is the cost? I trade out of my Fidelity IRA, but have a sub $25k account in TD that is pretty much just sitting there. I'd certailny love to 5x that account. What is the cost of his service?


Although one of his hustler assistants just side emailed me with a special price of $397 for the quarter.
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BrokeAssAggie
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8:40p, 5/11/21
Does anyone know what this guy is talking about? I'm having a hard time following..

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mazag08
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In reply to BrokeAssAggie • 8:42p, 5/11/21
AG
CrazyRichAggie said:
Does anyone know what this guy is talking about? I'm having a hard time following..



Looks like a jacked up version of EW theory.
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McInnis 03
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8:48p, 5/11/21
AG
I have 300 shares of ASO (cost $15.xx) and have been toying with selling 1 $45c to go net free. Sold one today for like $.15 but when I saw the price action I somehow bought it back for $.10 as I had a feeling something was up.

I'll think about it again tomorrow if it's up.
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McInnis 03
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In reply to BrokeAssAggie • 8:53p, 5/11/21
AG
CrazyRichAggie said:
Does anyone know what this guy is talking about? I'm having a hard time following..



First 5 are self explanatory. 6 is that he doesn't buy in a range, he's waiting for peaks, valleys, or breaks. And his 3-7-11 idea is a concept that the market is cyclical....3 day cycle being the first, 7 the next and 11 is a long duration.

I believe in the 3 day, the other two may work too, haven't looked into it enough
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McInnis 03
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In reply to McInnis 03 • 8:54p, 5/11/21
AG
McInnis 03 said:
I have 300 shares of ASO (cost $15.xx) and have been toying with selling 1 $45c to go net free. Sold one today for like $.15 but when I saw the price action I somehow bought it back for $.10 as I had a feeling something was up.

I'll think about it again tomorrow if it's up.


I should probably ignore the idea though.....I believe that academy has the room to grow into a nationwide leader in their field.....they're only in like 17 states......this may be an eternal hold
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BrokeAssAggie
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9:04p, 5/11/21
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Touchless
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In reply to McInnis 03 • 9:18p, 5/11/21
AG
McInnis 03 said:
CrazyRichAggie said:
Does anyone know what this guy is talking about? I'm having a hard time following..



First 5 are self explanatory. 6 is that he doesn't buy in a range, he's waiting for peaks, valleys, or breaks. And his 3-7-11 idea is a concept that the market is cyclical....3 day cycle being the first, 7 the next and 11 is a long duration.

I believe in the 3 day, the other two may work too, haven't looked into it enough
So is this like walking by the roulette table and seeing 7 straight red numbers? Next one HAS to be black! I'll throw $100 on it!! ****, it was red again! No way there ends up being 9 straight red numbers. Let's do $200 this time to still make the $100 profit. *****
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McInnis 03
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9:24p, 5/11/21
AG
Cathie bought 2MM PLTR today. She may have saved it herself at open
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trip98
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In reply to McInnis 03 • 10:39p, 5/11/21
AG
I have 100... But after last runup I heard OA1 saying sell cc when on the way up. Sold June 45 for over $1
While I believe in ASO long term I'm fine taking a home run return in 6 months.
If that happens I'll just buy another 100 or use gains to buy some and be net free
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irish pete ag06
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In reply to jimmo • 10:48p, 5/11/21
AG
jimmo said:
FJ
51 trades
all option trades?
no shares?
- are you using your TOS acct for option trades?

hard for me connect scalps w/ options lol
gawd
I have a long way to go

I hear you. I feel like I have a small break through and then I realize just how many hundreds I need to have to remotely become what I want to be.
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gig em 02
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In reply to McInnis 03 • 11:04p, 5/11/21
McInnis 03 said:
McInnis 03 said:
I have 300 shares of ASO (cost $15.xx) and have been toying with selling 1 $45c to go net free. Sold one today for like $.15 but when I saw the price action I somehow bought it back for $.10 as I had a feeling something was up.

I'll think about it again tomorrow if it's up.


I should probably ignore the idea though.....I believe that academy has the room to grow into a nationwide leader in their field.....they're only in like 17 states......this may be an eternal hold


I wish I hadn't sold half my shares to go net free, never imagined they'd rip 300% in a year.
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FJ43
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3:36a, 5/12/21

Mornun,

Futures slightly red this morning.

ES - 4,139
NQ - 13,308
SPY - 413.53 (below ATR mean)
Qs - 324.47 (-1.5 ATR)
IWM - 218.30
VIX at present just over 22 (slightly rising)
SKEW at 140
RSI on SPY and Qs are on the lower side

If I am betting more of the same as yesterday. Always possible to run higher or lower but 412s-417 would be my thoughts anyway. Higher low and higher high than yesterday.

SPY - 416.30 to the upside I will be watching and 411.74 to the downside.
Qs - 326 to the upside to be reclaimed and 319.95 to the downside not to lose. IMO need 326 to have continuation up.

Until then I think sit back, be calm and trade wisely!





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FJ43
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In reply to irish pete ag06 • 3:40a, 5/12/21
irish pete ag06 said:
jimmo said:
FJ
51 trades
all option trades?
no shares?
- are you using your TOS acct for option trades?

hard for me connect scalps w/ options lol
gawd
I have a long way to go

I hear you. I feel like I have a small break through and then I realize just how many hundreds I need to have to remotely become what I want to be.
You've had great breakthroughs. Keep refining what works for you and you enjoy most. So many different approaches, styles and processes on this thread but the foundations remain the same.
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BrokeAssAggie
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5:19a, 5/12/21
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cageybee77
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In reply to SoTXAg09 • 5:27a, 5/12/21
AG
Ow! Happened to me with X yesterday.....missed out on $900. Dammmmit! My stops are generally too tight for my own good.....but yesterday was skerry.
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ProgN
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In reply to BrokeAssAggie • 5:30a, 5/12/21
CrazyRichAggie said:
They'll get embarrassed like China did to our SOS in Alaska. The world laughs at our feckless President.
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Bob Knights Paper Hands
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In reply to McInnis 03 • 5:59a, 5/12/21
McInnis 03 said:
CrazyRichAggie said:
Does anyone know what this guy is talking about? I'm having a hard time following..



First 5 are self explanatory. 6 is that he doesn't buy in a range, he's waiting for peaks, valleys, or breaks. And his 3-7-11 idea is a concept that the market is cyclical....3 day cycle being the first, 7 the next and 11 is a long duration.

I believe in the 3 day, the other two may work too, haven't looked into it enough

The problem with that last one is if you try to buy at the very bottom you aren't waiting for confirmation of reversal back up. I've learned time and time again that trying to find the very bottom screws you more time than not because it really wasn't the bottom, it was the start of a new range and you just bought right above the top of resistance.
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