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Farmer @ Johnsongrass, TX
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In reply to FJ43 • 11:05a, 5/12/21
Yesterday I was hesitant on SPY taking a stroll to 398 (398-395).

Today, I believe that's where SPY is going.

After above, I think a rally happens back to 410-420 (melt up, unless bonds kill it). Then slow grind down to finish 2021.

Read an article from yesterday, 3 big bank's range projection to finish 2021 at S&P $3,800 to $4,200, FWIW.
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sts7049
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In reply to ClutchCityAg • 11:05a, 5/12/21
AG
ClutchCityAg said:
double bottom at your 408.74 level
nope...
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$30,000 Millionaire
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11:06a, 5/12/21
AG
I'm open minded to some mean reversion in SPX or an attempt to reclaim the 21.

You don’t trade for money, you trade for freedom.
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ClutchCityAg
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In reply to sts7049 • 11:09a, 5/12/21
sts7049 said:
ClutchCityAg said:
double bottom at your 408.74 level
nope...
Yeah, weak volume on that second bounce off support
Let it ride
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FJ43
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In reply to Farmer @ Johnsongrass, TX • 11:11a, 5/12/21
Farmer @ Johnsongrass, TX said:
Yesterday I was hesitant on SPY taking a stroll to 398 (398-395).

Today, I believe that's where SPY is going.

After above, I think a rally happens back to 410-420 (melt up, unless bonds kill it). Then slow grind down to finish 2021.

Read an article from yesterday, 3 big bank's range projection to finish 2021 at S&P $3,800 to $4,200, FWIW.
Glad you have 398. I have that as my lower line in the sand before 388ish. I didn't think we would get there now and may not yet. Agree I think we have another try up but if I was guessing may be a double top in the 420s. Getting past the 4-teens though won't be as easy IMO.

Today I think it wants 406-404 anyway.
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11:13a, 5/12/21
AG
You don’t trade for money, you trade for freedom.
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FJ43
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11:15a, 5/12/21
I have a line here on an hourly at 407. We shall see....

Edit: Slight pause aaaaaaand nope.
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cisgenderedAggie
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11:15a, 5/12/21
$407 is gonna break.
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Farmer @ Johnsongrass, TX
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In reply to FJ43 • 11:16a, 5/12/21
Quote:
Today I think it wants 406-404 anyway.
Agree.

That 398 may get the hello on Friday.
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mazag08
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11:16a, 5/12/21
AG
4076 SPX is support.
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cageybee77
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11:16a, 5/12/21
BrokeAssAggie
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11:16a, 5/12/21
woof . 4,000 here we come..
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cageybee77
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11:17a, 5/12/21
AG
Blech
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$30,000 Millionaire
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11:17a, 5/12/21
AG
nah, this needs to revert.
You don’t trade for money, you trade for freedom.
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FJ43
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11:17a, 5/12/21

VIX at 26.79
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gougler08
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11:20a, 5/12/21
AG
50 EMA at 406...going to go test that at this point
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Brian Earl Spilner
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In reply to Brian Earl Spilner • 11:25a, 5/12/21
AG
Brian Earl Spilner said:
Considering unloading all my ROKU stock (~$5k) once I break even at $325/share, to take advantage of the QQQ/GOOGLE/AAPL dips.

Thoughts? Or y'all think ROKU will continue to recover and tech continue to fall?
Well, nevermind then. Thought it might hit that today.
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11:30a, 5/12/21
AG
be careful on being overly short, folks.
You don’t trade for money, you trade for freedom.
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Brewmaster
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In reply to FJ43 • 11:30a, 5/12/21
AG
FJ43 said:

VIX at 26.79
nearest resistance at 28.4, could be more blood yet!
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FJ43
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11:30a, 5/12/21

IMO - Don't trust these micro pivots that are in no man's land between SR.
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ProgN
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11:38a, 5/12/21
Been busy and just checking in.

Who broke the market?

I'm blaming Irish
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Brewmaster
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11:39a, 5/12/21
AG
UVXY also had an 11 mil plus shares purchase (or combination thereof to get an 11+mil candle) at open this morning. If I hadn't been sidetracked with work and a 3 year old I would've bought calls there to daytrade, woulda coulda shoulda!
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Irish 2.0
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In reply to ProgN • 11:39a, 5/12/21
Prognightmare said:
Been busy and just checking in.

Who broke the market?

I'm blaming Irish


In my defense, I called 319 as the flush on the QQQ and wasn't wrong.
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jwhitlock3
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11:42a, 5/12/21
I've got a SPY put spread (debit) open with Fidelity, does anyone know if you can set a stop loss with a spread? I'm using the Option Summary, and I can close the position with a limit sell, but I don't see any trade armor option to place a stop. I don't think it's possible but wanted to see if anyone else had input.
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wanderer
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In reply to jwhitlock3 • 11:44a, 5/12/21
I know you can with ToS
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FbgTxAg
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In reply to ProgN • 11:45a, 5/12/21
AG
Prognightmare said:
Been busy and just checking in.

Who broke the market?

I'm blaming Irish


Uncle Joe and his band of economic illiterates.
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Farmer @ Johnsongrass, TX
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11:50a, 5/12/21
Who is ready for a lunch hour sell off?
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TubTub
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11:51a, 5/12/21
What is equivalent of a SPXS call (i.e. lotto ticket type buy) for high inflation?
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Running with the Bulls
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11:52a, 5/12/21
$NNOX volume! Any news?
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ProgN
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11:58a, 5/12/21
TTD is green.
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SF2004
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12:04p, 5/12/21
AG
Paying people to stay home and continue lockdowns in order to hurt a political foe has caused problems?? No Way!

But mean tweets.

Then try and gaslight that there were no concerns of inflation?

Own it Biden voters, you are part of the reason we are here. We should have been fully open and back to work last summer.
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FTAG 2000
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In reply to SF2004 • 12:07p, 5/12/21
AG
SF2004 said:
Paying people to stay home and continue lockdowns in order to hurt a political foe has caused problems?? No Way!

But mean tweets.

Then try and gaslight that there were no concerns of inflation?

Own it Biden voters, you are part of the reason we are here. We should have been fully open and back to work last summer.

Don't forget not only telling people yesterday they have no clue on the pipeline shut down but also reiterating they hope to shut down more pipelines.

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Irish 2.0
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12:08p, 5/12/21
Lets leave the politics to F16. I don't need to get a ban here too...
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Farmer @ Johnsongrass, TX
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In reply to TubTub • 12:09p, 5/12/21
TubTub said:
What is equivalent of a SPXS call (i.e. lotto ticket type buy) for high inflation?
I don't know if you would consider this an equivalent, but take a look at SCHP and VTIP (have monthly options).
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$30,000 Millionaire
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In reply to SF2004 • 12:10p, 5/12/21
AG
SF2004 said:
Paying people to stay home and continue lockdowns in order to hurt a political foe has caused problems?? No Way!

But mean tweets.

Then try and gaslight that there were no concerns of inflation?

Own it Biden voters, you are part of the reason we are here. We should have been fully open and back to work last summer.
Hindsight is always 2020. Take a look at the situation in India, that could have happened here. It's disingenuous to act like everything went to crap the moment Biden took office. Money printing started under Trump. Do I think Biden is going to make it better, no, but it's not fair to blame him for what's happening right now, this minute.
You don’t trade for money, you trade for freedom.
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