Anyone watching the AUDJPY? Been trending up so risk is on. When it starts coming back down then that will be the sign risk is being taken off.

Ragoo said:

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Anyone watching the AUDJPY? Been trending up so risk is on. When it starts coming back down then that will be the sign risk is being taken off.

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I thought AUDJPY was good for US stocks near-term. Was I backwards on that?

Tomas Hermensa said:

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Ragoo said:

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Anyone watching the AUDJPY? Been trending up so risk is on. When it starts coming back down then that will be the sign risk is being taken off.

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I thought AUDJPY was good for US stocks near-term. Was I backwards on that?

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if the value is going up then hedge funds are borrowing against the yen and investing in US equities. If the value is dropping then hedge funds are selling equities to pay back the yen borrowed.

https://www.investopedia.com/terms/c/currencycarrytrade.asp

Double_Bagger said:

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ASAN CEO laughing at the peasants buying puts against his multi billion dollar company.

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No way in hell it keeps this pace up. My puts are 8/20 65s and I'm not worried at all.

can you share a thinkorswim code for your setup with the Text box for ATR?

If I can find a list of these you've previously shared please point me to it.

Thank you!

I have been following your trade ideas. Any opinions on MVIS? I know you mentioned it in a previous post. I would like to do more spreads so just learning to structure the trade correctly to have the best odds of being successful.

I have never traded it. But looking at the set up I would wait. Caught in a downward move without and clear indication of a technical reversal. You could probably buy between 12-14.

rgaeke said:

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I have been following your trade ideas. Any opinions on MVIS? I know you mentioned it in a previous post. I would like to do more spreads so just learning to structure the trade correctly to have the best odds of being successful.

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I haven't been in MVIS for a little while and haven't looked at the chart much recently. If it's decreasing in value I would look for previous pivots as potential support, maybe $14.10 or $10.70. Then if I were looking at credit spreads I'd look for the upper leg of the spread to be just above a pivot I liked and the lower end to be below it. I'd look at the premiums to see exactly where I'd chose each leg, trying to maximize reward (sell leg premium minus buy leg premium) versus minimize risk (difference in strike prices). Since the stock has been on a downward trend, I would also probably wait until the price got to or just below my upper leg strike (but still just above the pivot).

All that said, with the current market and trying to buy spreads on an already dropping stock, I would portion accordingly.

Dude congrats! So I was totally wrong about it being a fuel issue... just needed a tuneup! And you got it done just in time! Edit: still/now especially surprised it didn't throw a misfire code

Regarding mvis, this last week or so of price movement has felt very artificial, I'd be surprised if the % short isn't way up since the offering. Also it's already on the wsb kids' radar. I'm in shares and yolo spreads (i.e. 20/25 calls). Also addition to russell, and many twitter pundits suggesting small caps are due for a run...i wouldn't risk disappointment selling puts at the moment

Ragoo said:

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Fixed my boat.

I pulled out my multimeter and ohm'd all of the cables - good.
Ohm'd the plugs and found one short.
Pulled the cap and the prongs were all corroded.
Check the rotor and it looked like a firework went off.

Replaced cap and rotor and all 8 spark plugs.

Took it out right before sunset and it jumped out of the water better than the day I purchased it. 4000 rpm and 40 mph with only about 75% throttle. Like a sports car.

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I was thinking about posting to check your voltage, but didn't because I know nothing about boat motors. I do know certain newer (past ~25 years) car engines can be very particular about needing a minimum voltage or they don't turn over. You can have almost enough and the lights or radio work but not enough for the ignition coils to work. Had no clue if that happens on boats.

Great job powering through and finding the issue.

Yeah I was assuming he meant credit spreads. If he meant OTM upside spreads then I would suggest the opposite advice. Look at resistance from pivots and MAs (particularly the 9ema or 10sma, the 21ema or 20sma, and the 50 ema or sma) and consider setting your upper leg around those resistance levels that you like.

As an insufferable bull i pretty much only do debit call spreads (bull call spreads?). I tried biib bear put spreads the last 2 weeks and since the system's rigged i am giving up on those :p

So what is the consensus here?

Looking at charts and applying everything that I have learned here I it says we are due for a steep pull back to the mean (pull back /= crash) before we can continue up.

Both SPY and QQQ are above +3 ATR. How much longer until profit taking?

Find a set up you like. Buy the .7 delta call, sell either a $5 or $10 wide call. Profit.

SF2004 said:

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So what is the consensus here?

Looking at charts and applying everything that I have learned here I it says we are due for a steep pull back to the mean (pull back /= crash) before we can continue up.

Both SPY and QQQ are above +3 ATR. How much longer until profit taking?

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I wouldn't hedge too much during a wave 3 like this. There's likely a deep pullback this year before even newer highs. But I don't think we're there yet.

Looks like RIG will be getting a bump on Tuesday.

Video Captured By An Individual On A Nearby Platform At Sea pic.twitter.com/mimyPcGgWr

— J̵̟̦̲̞̭̱̀̈́͑̄̇̈́̚͝ustice (@The_Justice7) July 4, 2021

Thanks for the reply, I was referring to debit call (long) call spreads. Or, put (short) spreads. Same principal depending on the out look for the stock or market as a whole. Buying the .7 delta strike puts the long purchase slightly in ITM. I assume that was the reference in the comment. Thanks so much.

So there is a particular book linked in the first post on this thread that for all intents and purposes looks to be out of print. Are there any copyright lawyers on this thread that can give insight into the laws around what can and cannot be done regarding books that are out of print?

Specifically, would it be okay to copy said book and make a digital version available to others?

AG 2000' said:

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Looks like RIG will be getting a bump on Tuesday.

Video Captured By An Individual On A Nearby Platform At Sea pic.twitter.com/mimyPcGgWr

— J̵̟̦̲̞̭̱̀̈́͑̄̇̈́̚͝ustice (@The_Justice7) July 4, 2021

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I am good with a $RIG bump this week!