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ag94whoop
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In reply to KT_Ag08 • 11:33p, 6/3/21
AG
KT_Ag08 said:
ClutchCityAg said:
We just had a run from SNDL CLOV and TLRY didn't we?


Yes but only to about 1/3 of their previous YTD highs.


Exactly. And sadly, even with some CCs sold, I'm still holding at some pretty high costs. So a continued strong run would really help
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Philip J Fry
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12:09a, 6/4/21
AG
I've just kept pouring more money into CLOV to average my cost basis down. Up to 2000 shares now, so if it goes, it'll be real money.
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FJ43
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5:20a, 6/4/21

Morning !

Got to feeling really bad yesterday about 3 hours into the day and just got worse as it went. Had to holster the mouse or make mistakes.

But back today...here is your morning snapshot.



There has been 2 downtrend lines on SPY since Tuesday that haven't been broken all week despite multiple attempts.

IMO.....If trendlines matter they will either be broken and we go up to 419.67 where the higher of the two is or we drop to 417.54, 416.36, 414.40, etc. We spent time at 417.54 & 416.36 range yesterday. Could see us also consolidate more between 417.50-419.80ish.

Think we may be close to some near term direction anyway.



Trade wisely!
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FJ43
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5:44a, 6/4/21

ELOX

Quick look for everyone.

About $1.96 now.

  • Solid volume with volume follow through - goal posts formed.
  • May be flagging before next push through $2.09 resistance.
  • Resistance levels show as I see them.
  • MT about $$4.01
  • The $6.77 high is resistance back to Jan 2020.

This thing was waaaaaay higher at one time and don't know much about the company and why the fall over time.

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FJ43
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5:54a, 6/4/21

SNDL

Quick levels as I see them.

  • We are right up against next resistance and flashed above but didn't reclaim.
  • Volume returning for now.
  • Flagging but also at potential cup completion....may handle out a bit here.
  • 1.47, 1.70. 1.89, 2.03+ next stops....all ish.
  • RSI kinda hot at the moment. May need to cool down and could see consolidating here a bit.


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FJ43
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6:02a, 6/4/21

Bringing out Gus today to see if he can spur a rally into close.



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FJ43
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6:10a, 6/4/21

May be a lotto or two today. Will be today expiry.

BB lotto didn't work. It was a meme lotto and that may be worse than a scratch off. If I would have exited about 2 minutes after buy it would have been a quick 30% but I thought they may run it a bit. Who knows maybe they run it today to 26.

BLNK was a nice lotto if you managed it with 150-200%+ gain. Hopefully it more than made up for BB.
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Spoony Love
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In reply to FJ43 • 6:25a, 6/4/21
AG
These are always fun and educational in my opinion.
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FJ43
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6:27a, 6/4/21

SPY

Here is a snap shot of daily/hourly levels I am trading against.

Red daily hard lines.
White hourly solid resistance.
The two down trend lines in yellow are what I referred to that need to be broken to the upside.
The outer yellow trendlines are the long term trend waaaaay back.

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FJ43
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In reply to Spoony Love • 6:31a, 6/4/21
Spoony Love said:
These are always fun and educational in my opinion.
They are a lot of fun but seems like things are when you play really small. If you take on a lotto best to be able to manage it on same day expiry. Often a quick in and out.
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McInnis 03
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6:36a, 6/4/21
AG
Not long ago ES got challenged at 4185 with decent volume and NQ got challenge at 13500 with decent volume and both bounced and sent higher so those are the overnight points that I'll be watching to see what happens

I think it's all shake and bake until the NFP numbers
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ProgN
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6:43a, 6/4/21
Quote:
Wedbush Raises Price Target On AMC From $6.50 To $7.50, Maintains Neutral Rating

6:55 am ET June 4, 2021
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Ferris Wheel Allstar
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In reply to ProgN • 6:47a, 6/4/21
AG
AMC has so much call volume expiring today, it is going to be fun to watch.
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austinAG90
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7:11a, 6/4/21
AG
Friday Macros

Expect Non Farm Fireworks...Whisper 800...Biden to Speak at 10.15 ?????

The expectations for today's non farm numbers is 674,000 the whisper number is 800,000. There are only 4 expectations we saw above the average...GS at 750, Citi at 764, DB at 800, and Amherst at 700... Why is Biden speaking on the topic at 10.15?... Does he know the number?... Is it going to be a blowout?... We will take the over between the initial number and revisions...we think the last payroll report was plagued with far more technical issues, well beyond those who have decided to be on the government dole. Our view is that a number greater than 750,000 will put tapering front and center for discussions on the Fed calendar in two weeks... A number below 500,000 would put it lower in the discussion topic and would more than likely be punted until Jackson Hole...

Rates... If Biden knows the number or not, the street clearly does not know the number.. Equities and rates are doing nothing overnight, although we see the 30/50 year swap curve the most inverted on record... Hey Janet, time for a 50 year? For today the narrow range for the 10 year is 1.58-1.64... Feels like the levels will give way... So the wider range is 1.52-1.70... Ok the even wider range would be 1.47-1.77...but we doubt we reach that... But who knows... Lots of supply next week and the inflation and supply chain issues are at very stressful levels... 5 years remain key... Here we view the ranges of .77-.90.. The number after that would be 1.01 on 5 yrs... Doubtful for today... Our longer term reach for 5 years this summer is 1.25...

Equities... No clue for today... We do not think we have seen the highs for June . But we do see comparisons like Author of BB today, where he points out that US households are as heavily invested in equities as they were at the top of the market in 2000... Where historically most had far more wealth tied up in their homes than stocks, they are now overweight equities and underweight their homes...

Fed , while the Fed will start selling bond related etf's starting Monday and cash corporates later in the summer, that has not stopped new issues from coming to market... Depending on whose numbers you use, BB has 20 billion this week, Citi 24 billion, and our friends at ITC 33 billion (they count sovereigns) either way the corporate new issue binge is not slowing, at least not yet. The Fed Balance Sheet rose to another record last night rising to 7.936 trillion... That's a lot given the Fed B/S used to be under 1 Trillion... The hold holds 5.119 trillion of treasuries and 2.244 trillion of mortgages... If that is not monetizing the deficit than we do not know what is...

Expect a chop today... More than likely fade the first move... But it should be a barn-burner for the next 2 hours....
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McInnis 03
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7:30a, 6/4/21
AG
559K on NFP. We running?
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BrokeAssAggie
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7:32a, 6/4/21
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McInnis 03
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7:36a, 6/4/21
AG
We're above value area-high on BOTH NQ and ES now, if we open up here I'd love to see a pullback to the high value area and that's where I'll take a chance long on either if it shows reversal. Trend days love to go above the value high, come back to touch, and then rocketship the rest of the day. I'm willing to give it time to see if ti happens.

The other play is if we get a double entry INTO the value area on 2 different 30 min candles, the complete value area travel play is in effect, meaning we could go from the value high all the way to the value low during the intraday. I'll be watching for both.
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McInnis 03
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In reply to McInnis 03 • 7:37a, 6/4/21
AG
In the time it took me to type that we got back into the value area on both.
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McInnis 03
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7:38a, 6/4/21
AG
He is so good.


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McInnis 03
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7:43a, 6/4/21
AG
Trying an ES long here.......4201.50
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austinAG90
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7:45a, 6/4/21
AG
Non Farm Disappointing...Average Hourly Earnings Strong

What does this tell us?... People still do not want to work or feel they can't work... Over 15 million people are taking money from unemployment.... That should change.... The governments should be giving incentives for people to work... But for now companies are getting more out of their employees, hence average hourly earnings month over month more than doubled the expectation... So much for the whisper number or our view to take the over... 10 year in the range of 1.58-1.64
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McInnis 03
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7:45a, 6/4/21
AG
CSX announce 3:1 split
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Aggie118
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7:46a, 6/4/21
AG
Anyone buying into ELOX at current price?
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McInnis 03
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In reply to McInnis 03 • 7:47a, 6/4/21
AG
McInnis 03 said:
Trying an ES long here.......4201.50
closing 2/5ths here at 4205
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Bob Knights Paper Hands
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In reply to austinAG90 • 7:48a, 6/4/21
Quote:
It tell me fed still go brrrr for rear.

-Sam, probably.
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Bob Knights Paper Hands
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In reply to Aggie118 • 7:49a, 6/4/21
Aggie118 said:
Anyone buying into ELOX at current price?

Not buying anymore but I'm daring them to come take my $2.50s.

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FJ43
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In reply to Aggie118 • 7:50a, 6/4/21
Aggie118 said:
Anyone buying into ELOX at current price?
Still a good buy/write candidate IMO.
Buy at $1.90s sell July $5 for .20/25 or the $2.50s for .45/.50

Cost basis of $1.70s or $1.50s or called away for $2.95 and $5.25 all in.
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McInnis 03
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In reply to McInnis 03 • 7:51a, 6/4/21
AG
McInnis 03 said:
McInnis 03 said:
Trying an ES long here.......4201.50
closing 2/5ths here at 4205
Sold another 1/5th at 4206.

Moving stop on remainder to Breakeven.

Still going to watch for what I described above.

I'd love to let bigger positions run, but at this point I have to take profits to build cash flow.
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Richierich2323
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In reply to FJ43 • 8:02a, 6/4/21
FJ43 said:
Aggie118 said:
Anyone buying into ELOX at current price?
Still a good buy/write candidate IMO.
Buy at $1.90s sell July $5 for .20/25 or the $2.50s for .45/.50

Cost basis of $1.70s or $1.50s or called away for $2.95 and $5.25 all in.
Sell to open puts also looked good. (sorry made a mistake put buy to open at first).

June 18th $2.50 were $1.05 (1.45 share price if called out or $105 premium).

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FJ43
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In reply to Richierich2323 • 8:12a, 6/4/21
Richierich2323 said:
FJ43 said:
Aggie118 said:
Anyone buying into ELOX at current price?
Still a good buy/write candidate IMO.
Buy at $1.90s sell July $5 for .20/25 or the $2.50s for .45/.50

Cost basis of $1.70s or $1.50s or called away for $2.95 and $5.25 all in.
Sell to open puts also looked good. (sorry made a mistake put buy to open at first).

June 16th $2.50 were $1.05 (1.45 share price if called out or $105 premium).
Yep another good pathway. Assume you meant July 16.
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Red Red Wine
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In reply to FJ43 • 8:19a, 6/4/21
AG
June 18th shows 1.05, correct?
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Richierich2323
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In reply to Red Red Wine • 8:22a, 6/4/21
Red Red Wine said:
June 18th shows 1.05, correct?
Yes, it is June 18th...that's my bad. I fixed it in the original post. I need to slow down my typing.
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FJ43
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In reply to Red Red Wine • 8:23a, 6/4/21
Red Red Wine said:
June 18th shows 1.05, correct?
I show B/A of
.55/1.05 on June 18th
.75/1.10 July 16th
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FJ43
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8:24a, 6/4/21
Biden is speaking 45 minutes after open. Just remarks but he is uttering words so......
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McInnis 03
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In reply to FJ43 • 8:25a, 6/4/21
AG
FJ43 said:
Biden is speaking 45 minutes after open. Just remarks but he is stuttering words so......
fify
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