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FJ43
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In reply to Charismatic Megafauna • 3:39p, 6/14/21
NRD09 said:
FJ43 said:
I think I left a couple dollars on the table on that run for SPY 424C

Jeez i wish i knew what i did wrong to miss that close but i have no idea.
Bought expiring 424c all day long starting at .33 all the way down to .11 until I had twice as much sunk as i normally do in this game. At the start of the run i sold 2/3 at .25, then at 2:50 sold the rest at .35 (that big red wick was a serious fake out) . You know the rest. Never seen such flat tape for almost the whole day
Brother I don't think there is any way to game that close. I started scaling out from 424.43 (previous days high) and I was totally out by the time we hit today's previous high.

But we traded that for a profit so a win.

Next trade!

Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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FJ43
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In reply to Red Pear Realty • 3:41p, 6/14/21
Red Pear Realty said:
YNWA_AG said:
ELOX


Entered at $2.01 this morning.
Tomorrow is National Covered Call selling day on all new share purchases for me. Premium should be juiced it the run up holds.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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BlueTaze
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3:43p, 6/14/21
It looks like there may be some positive news on ELX-02 coming 2nd half of year...good reason for recent goal post mass accumulation.



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Charismatic Megafauna
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In reply to FJ43 • 3:45p, 6/14/21
AG
FJ43 said:

But we traded that for a profit so a win.

Next trade!


Truth... I'm happy enough that i made a couple hundred bucks when i thought I'd lose it all, I'm almost not upset about the 4-5 figures i missed out on if I'd had my crystal ball calibrated
Curious to read what mancini thinks about this. Guessing he's gonna predict we continue to his 4290 level this week
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gougler08
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3:46p, 6/14/21
AG
I have a few covered calls that will get called out with Jun 18 to help get me more to cash and then will look to be selling weekly covered calls where I can for rest of month to see what gets called out vs. what I collect in premium. Slowly moving more to cash this month as with most of you guys
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FJ43
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In reply to FJ43 • 3:46p, 6/14/21
FJ43 said:
FJ43 said:
FJ43 said:
Bought PINS 70C weekly
1.09 entry
Scaling some here 1.09<1.40
Took all PINS off between 1.40-1.12.

Will buy back with macro hold up cheaper than previous entry.
PINS

Not sure if anyone followed this one but I did reenter after the first round of scalping it.

Keep an eye on this one. Closed above the 50SMA. Could get a run from here.

Closed at about $68.70
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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FJ43
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In reply to Charismatic Megafauna • 3:49p, 6/14/21
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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Charismatic Megafauna
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In reply to FJ43 • 4:18p, 6/14/21
AG
Well there it is...
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Red Red Wine
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4:35p, 6/14/21
AG
$ELOX up nicely AH
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Brewmaster
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In reply to Red Red Wine • 4:52p, 6/14/21
AG
Red Red Wine said:
$ELOX up nicely AH
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Agvet12
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In reply to FJ43 • 4:55p, 6/14/21
AG
FJ43 said:


Your welcome I bought spy 424p before lunch and forgot to set alerts or a stop
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FJ43
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In reply to Agvet12 • 4:59p, 6/14/21
Agvet12 said:
FJ43 said:


Your welcome I bought spy 424p before lunch and forgot to set alerts or a stop
I 'think' you'll have a chance to exit these over the next couple days ok.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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Richierich2323
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5:07p, 6/14/21
Still working on position size. For something like $ELOX do you throw the kitchen sink at it when it's so obvious based on the chart?

I have been keeping everything no bigger than 5% of my portfolio.
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gougler08
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In reply to Richierich2323 • 5:19p, 6/14/21
AG
Richierich2323 said:
Still working on position size. For something like $ELOX do you throw the kitchen sink at it when it's so obvious based on the chart?

I have been keeping everything no bigger than 5% of my portfolio.


I kitchen sinked it when I saw the chart + OA pumping it. All of his big plays work out in the end (even if they take a bit) and this chart is so perfect even for a novice like me

That being said, it's still not more than 5% of my portfolio but granted I have stretched myself over the last few months and have a few more positions than I'd like, so I am starting to pare or at least be more aggressive on covered calls
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$30,000 Millionaire
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In reply to Richierich2323 • 5:20p, 6/14/21
AG
That's being smart.
You don’t trade for money, you trade for freedom.
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Brewmaster
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In reply to Richierich2323 • 5:43p, 6/14/21
AG
Richierich2323 said:
Still working on position size. For something like $ELOX do you throw the kitchen sink at it when it's so obvious based on the chart?

I have been keeping everything no bigger than 5% of my portfolio.
gougler hit the nail on the head, but I'll just add

Yes and yes for me. OA has real conviction in this one and you can literally read his tweets, look at the chart and see what he's seeing. It's a play by play if you will. I've learned a lot just following along (and am heavy in shares). At these levels it is still low risk and his comment "it doesn't give a darn at the macro markets" convinced me even more.

I'd also add it depends on your risk tolerance. Is this in an IRA or trading account? are you young and want to be aggressive, or are you older and what to stay very diverse? It is highly individual and up to each person here.

also go look at ELOX April 2020 (daily chart) and look at the 2 months after. It is basically repeating history right now. 2 months later it hit $4. We will all be net free on this one in the next month. I'll come back and eat crow if not.
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Thundergon
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In reply to Brewmaster • 6:14p, 6/14/21
Somebody keep track of this post!
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Carlo4
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6:27p, 6/14/21
AG
So passed a little bit of a milestone today thanks to TQQQ/fruit breakout. Taxable account on TDA.

2020 - Started with $36,000. Ended with $36,500 in November. -$19,000 to help with home down payment
2021 - Started with $17,500. Now sit at $28,500. Up $11,000 this year. All thanks to you.

Last year was my first year seriously trying and broke even with tons of dumb mistakes. I kept learning from my mistakes through all of you, but your victories and losses in investing. I greatly appreciate the discussions and jokes on this board. It has helped make the last 18 months go by much better than it could have been.



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ProgN
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6:35p, 6/14/21
This was on the tears thread but wanted to share it with y'all.

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DallasAg2
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In reply to Brewmaster • 6:38p, 6/14/21
AG
BREwmaster said:
lots of big VXX buys now, biggest buying I've seen on it in a long time. tread lightly all, cash is king.
I have been buying quite a bit lately but wonder if tomorrow is to sell most stocks due to the Fed meeting. What do y'all think?

I like where my accounts are now so I will probably sell and wait for the pullback.
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TxAG#2011
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6:45p, 6/14/21
Anyway to get aggiedaniel aka mr vix to come drop some alpha for us
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ProgN
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In reply to TxAG#2011 • 6:51p, 6/14/21
TxAG#2011 said:
Anyway to get aggiedaniel aka mr vix to come drop some alpha for us
You have to lure him out, I suggest one of these two:


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wbt5845
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In reply to DallasAg2 • 7:11p, 6/14/21
AG
DallasAg2 said:
BREwmaster said:
lots of big VXX buys now, biggest buying I've seen on it in a long time. tread lightly all, cash is king.
I have been buying quite a bit lately but wonder if tomorrow is to sell most stocks due to the Fed meeting. What do y'all think?

I like where my accounts are now so I will probably sell and wait for the pullback.

So between profit taking and general fear of bubblage, I am about 50% cash as it is. I gotta admit if there's a general run up early tomorrow, I'm gonna back most of the way out.

Except for $LMT. That stock rules.
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McInnis 03
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7:33p, 6/14/21
AG
Funny name. Serious trader. Texan too.

***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
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Brewmaster
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In reply to ProgN • 7:42p, 6/14/21
AG
Prognightmare said:
TxAG#2011 said:
Anyway to get aggiedaniel aka mr vix to come drop some alpha for us
You have to lure him out, I suggest one of these two:


Ill take the blonde, but I do see a stamp on the brunette - tempting, lol
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AgEng06
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In reply to Brewmaster • 7:46p, 6/14/21
AG
Whynotboth.gif
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agdaddy04
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8:21p, 6/14/21
AG
Found this news on TRCH after hours. Was this what caused it to run today? Insider information?

https://www.torchlightenergy.com/media-center/company-news?detail=720

Torchlight Declares Special Dividend of New Series A Preferred
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Brewmaster
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In reply to Fairfield_Ag • 9:16p, 6/14/21
AG
Fairfield_Ag said:
I asked this question last week (and it kind of got buried) but with a macro sell off potentially looming, how do you think this impacts the energy sector? I'm so split! Part of me thinks there are major gains yet to be had and part of me fears that the macro correction will erase the gains I'm already sitting on.

Perhaps the answer is to book profits on 50% of holdings, sell CC on the rest.

I know I'll get crucified here for putting too many eggs in one basket, but 20% of my portfolio is in Energy Transfer. I'm sitting on 40% gains on shares owned and 120% gains on '23 LEAP calls. Just feels like this company still has a loooonnngggg way to keep running.

As always, I appreciate the advice from you all. I'm clueless.

P.S. As a new trader, the hardest thing for me to do is sell a winner. I gotta learn this art.
I would certainly take profits here, but you can do so on a case by case basis. If a setup still looks really good for continuation (in an uptrend?), but you are still concerned a correction happens soon (and rightfully so), sell CC's into any strength these next few days. On any more questionable ones, take profits on half, sell cc's on the rest. Also, if you want to go net free on the leaps, do so!

Hope that helps. I'm not the best and brightest trader here, but I usually know what I should do!
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Richierich2323
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9:37p, 6/14/21
Thank you guys for the replies about allocation. It helps a lot to see how different people view it. I do agree that when OA is getting excited about a stock I need to listen and love being able to start to see it on a chart.
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Thundergon
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9:46p, 6/14/21
I don't plan on doing too much trading tomorrow with work. I'll primarily be focusing on managing the AAPL trade. I trimmed half my 6/25 $130c at 100% to go net free and then trimmed another 1/8 at 140%. I plan to hold the rest for now. I am targeting $132.50 for next trim and then unload at $135 all assuming we get there. Holding all of the September 130c. I will unload those once the squeeze runs out of energy and get into conservation mode. For apple, the 8EMA is trending nice above the 21EMA now. +3 ATR is $133.20. We could get a 50 SMA touch tomorrow around $129 before continuing higher. $128.50 really needs to hold. I'll probably hold the 6/25 calls through a little weakness tomorrow since they are net free and then see how Wednesday unfolds.

Some other setups I like for a day trade. For the day trades, I did some studying of some past trades and noticed that almost 90% of successful day trades took less than 5-minutes for these high beta stocks to break out on the pivot. If you want to day trade these, I would suggest you start a 5-min clock and if it doesn't work by then, get out and don't look back. It will save you alot of headache if you follow that rule.

ROKU > 369. Weekly 375c. Target 376.
AMZN > 3385. Weekly 3400c. Target 3400.
ZM > 370. Weekly 380c. Target 385. *ZM is almost +3ATR right now so this could be a trickier one.


Notes:

QQQ is well above the 8/21 EMA and almost at +3 ATR so be cautious of sideways action or a reversion towards the 8EMA/+2ATR. Upper BB on weekly is 350. Made a new ATH today.

SPY looks a little less extended than the Qs but it also is well above the 8/21 EMA and at +2 ATR. The upper BB on the daily is around 427
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Brewmaster
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9:47p, 6/14/21
AG
bwhahaha... this is greatness. OA's twitter this afternoon with ELOX short taunting and this:

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DallasAg2
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In reply to Brewmaster • 9:54p, 6/14/21
AG
BREwmaster said:
bwhahaha... this is greatness. OA's twitter this afternoon with ELOX short taunting and this:



So, why do covered calls in ELOX if you think it going up? Your gains are not as much. I know you never know when the stock will go up but I have not gained as much several times selling the covered calls. Thanks!
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DavysApprentice
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In reply to DallasAg2 • 10:12p, 6/14/21
AG
DallasAg2 said:
BREwmaster said:
bwhahaha... this is greatness. OA's twitter this afternoon with ELOX short taunting and this:



So, why do covered calls in ELOX if you think it going up? Your gains are not as much. I know you never know when the stock will go up but I have not gained as much several times selling the covered calls. Thanks!


The idea is to get net free as quickly as possible so you can redeploy the capital elsewhere. I never sell covered calls on all my shares. Normally half for me at a strike where if I get called out I will be net free on half my original shares.

Think about clov, it shot up and went to 26 or so but only for a short period of time. If you sold 20 dollar calls and they got called away the price of clov is already much lower than 20 and you can buy those shares back if you want. That's the way I see it at least. Also, statistically, the OTM calls you sell have a high chance of expiring worthless
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E
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In reply to Brewmaster • 10:22p, 6/14/21
AG
BREwmaster said:
bwhahaha... this is greatness. OA's twitter this afternoon with ELOX short taunting and this:



Hope he buys Kauai instead we're getting married there next Spring and could really use the TexAgs discount
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Bob Knights Paper Hands
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11:13p, 6/14/21
$ELOX the ADX is 44 and ADXR is 35; WWR the ADX is 45 and ADXR is 34. Anything above 25 indicates a strong trend. Both of them are above the 9 and 21 emas with 9>21. Both have an RSI in the 50's, which is good but not overbought, and their MACD's look nice. The daily OBV of both stocks are over their 9 and 21 ema as well. It's going to be difficult not to over-extend myself on these two, but I think it's going to be glorious.
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