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Spoony Love
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AG
A good time to take profits in some lesser confident positions?

Use it to grow positions in those that you see more confidence in. At least that is what I am going through right now.
Cookiemonster64
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I'm having ASAN ptsd flashbacks as I sit here and eye some MRNA puts.
Scimitar
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McInnis 03 said:



Joke's on him...I just bought something
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
Bosco
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$30,000 Millionaire said:

so this is the hard part about trading.

What now? Take profits? Wait for more downside?





Dangit. And here I am looking at this juicy VISA dip
McInnis 03
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McInnis 03 said:

mazag08 said:

Energy down big today. Extremely oversold. Might be a great time to go long.
XOP is looking like something......I don't know what..........but something.

It's going to make our -3ATR scan today.
I'll be putting on a small roulette sized play on XOP for 7/30 on the idea that a bounce is probable between now and then, but this ain't a stone cold lead pipe lock.
McInnis 03
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Scimitar said:

McInnis 03 said:



Joke's on him...I just bought something
Walter!


cptthunder
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mazag08 said:

Over the last year, higher highs and higher low. Nice upward channel formed. Go back another year and an argument can be made that it's in an ascending triangle.

Bottom of the upward channel for this week would be the 8.75 range with another touch at the 12.25 range within the month of August confirming the ascending triangle.

This news might be the catalyst to confirm it all for them.

Like most mid stream stocks, I think mid August through October are going to pivotal trading months that tell us what's going to happen. I'm expecting an energy boom across the board by the end of the year. But COVID news and government BS can alter course.
thanks! The timing on this one is hard for me to grasp so Ive been trying to get fills on 12C 2023 LEAPS most of the day without just hitting the ask
BlueTaze
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CLOV looking to close green on a day like today.
Cookiemonster64
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OK....+ 3 ATR put play....Take 2.

Couldn't resist considering how many +/- 10% swings I've seen MRNA make....premiums are super juiced though so this will be a much more expensive lesson than ASAN should it go the same way.

What lesson did I learn from ASAN and how did I play MRNA different? I went with a higher delta option and longer expiration. We'll see if results are different.
Tumble Weed
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This day has the feel of a slope off at the end. Late today may present another buying opportunity. Sticking with spy over individual picks here, but keep peeking at ccl.
FTAG 2000
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Tumble Weed said:

This day has the feel of a slope off at the end. Late today may present another buying opportunity. Sticking with spy over individual picks here, but keep peeking at ccl.
I think CCL has lower to go.

CDC is appealing the Florida lawsuit decision around reqiuring vaxes.

And news cycle is going supernova about Delta variant, talking about Xiden's team coming out with more lockdowns, etc.

$30,000 Millionaire
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I don't think we're done, but I'm taking 50% off puts he
You don’t trade for money, you trade for freedom.
BrokeAssAggie
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SPY bounced off $422 several times.
$30,000 Millionaire
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take it as a queue on shorter dated puts to get out. 4225 is core resistance.

I think more downside to come, but at least make your trades net+free
You don’t trade for money, you trade for freedom.
tam2002
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WWR trying hard to turn green
$30,000 Millionaire
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WHAT A GREAT DAY
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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DO NOT BUY PUTS ON MRNA
You don’t trade for money, you trade for freedom.
McInnis 03
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Tumble Weed
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AG 2000' said:

Tumble Weed said:

This day has the feel of a slope off at the end. Late today may present another buying opportunity. Sticking with spy over individual picks here, but keep peeking at ccl.
I think CCL has lower to go.

CDC is appealing the Florida lawsuit decision around reqiuring vaxes.

And news cycle is going supernova about Delta variant, talking about Xiden's team coming out with more lockdowns, etc.



If Harris ends up with delta the news will melt down and we will get a nice dip. Hugs and kisses from Texas!
Cookiemonster64
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Haha...too late for me!

Others still have a chance to heed your advice.
Talon2DSO
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HMBL showing a little life
mazag08
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$30,000 Millionaire said:

take it as a queue on shorter dated puts to get out. 4225 is core resistance.

I think more downside to come, but at least make your trades net+free
Agreed. I think we just entered the b wave up of this wave 4 correction. There will still be lower lows. But they won't happen this week.
ibdm98
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$30,000 Millionaire said:

DO NOT BUY PUTS ON MRNA
You misspelled ASAN
jimmo
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$30,000 Millionaire said:

DO NOT BUY PUTS ON MRNA
I see ya
Trying those filthy Jedi mind games on me
Ragoo
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So do we think for tech tomorrow, hold calls bought on the morning dip overnight?
Ferris Wheel Allstar
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a reminder before the close;


Quote:

Veteran trader David Green pointed out the strength of NVIDIA Corporation (NASDAQ: NVDA) Monday morning. The stock opened $10 lower on Monday morning but quickly ripped higher by 6% in the first 90 minutes of trading. The stock will undergo a 4-for-1 stock split Tuesday morning.
Quote:



David Green, host of Live Trading With David Green on Benzinga, pointed out the strong trend in NVIDIA's stock on Monday's show.

"I want to be long NVIDIA," Green said. "We will get a lot of action once we have earnings coming out."
Live Trading With David Green is a morning trading show in which David live trades the open on Benzinga. The show airs Monday-Wednesday at 9:25 am ET on BenzingaTV.
Thundergon
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Bulls need to break above this intra-day downtrend and close above the 50-dSMA to have a shot tomorrow imo.

ProgN
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jimmo said:

$30,000 Millionaire said:

DO NOT BUY PUTS ON MRNA
I see ya
Trying those filthy Jedi mind games on me
I just pictured 30K saying, "this isn't the loss you're looking for" in old Ben Kanobi voice.
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austinAG90
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Fear and Panic dominate today's trading... Delta Variant and Stagflation


Started last week with some weakness in the equity market... Really came to a head today... US treasuries are thinking ahead to middle of 2022 and think a mild recession is coming... And are pricing long yields very low and flat... Equities believe that the economy will continue to grow at the 6-8% level for the next two years... Great earnings have not done anything for equities while inflation issues have been mentioned at 87% of the earnings calls... So who is right, our view is that equities are correct and we do not see a major slowdown now or in 2022... But we know when it is time to keep our views to our-self and just trade the markets...


Inflation is much worse and will be much longer that the Fed anticipates...but Powell was very clear...as was Williams... They just don't care....they are so much more concerned about the economy and employment that if inflation went to 6% and stayed there they would continue to keep rates at zero...as for tapering, in the long term no one cares... If they ended mortgages today housing would still soar... Too few homes and too many people that want to leave the cities....but that would send a message to the market that the Fed is scared to send... We do not see stagflation.

Corporate spreads are widening... CDX HY has widened 11.5% this month from 269 on July 2 to 300 today... HY had one of their worst weeks last week and today is no better... Spreads are too tight... And corporations, similar to equities have been pricing a strong economy with lots of stimulus... They may be right, but you can't have the treasury market saying something completely different and not expect a correction.

Last thing that is out there... Wealthy individuals no longer want to sell stocks and book capital gains... So what are they doing?... Borrowing against their holdings... That is ok when the leverage is under 25%... But a big move and we will have a swoosh moment, which then would be a major correction... That is something to worry about after Jackson Hole and into the end of the third quarter
$30,000 Millionaire
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I went ahead and got out of 80% of shorts in case the 55 EMA bounce trick works again tomorrow.

don't let a win turn into a loss. I sold ASAN this morning on reversal when I saw it start powering through the 23.6% fib.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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jj9000 said:

Prognightmare said:

jimmo said:

$30,000 Millionaire said:

DO NOT BUY PUTS ON MRNA
I see ya
Trying those filthy Jedi mind games on me
I just pictured 30K saying, "this isn't the loss you're looking for" in old Ben Kanobi voice.
Or screaming for an imminent Bear Market in Chewbacca voice.
I told you guys we would have a sell-off, we did. I took profit. Time to regroup.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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that's a lot different than these dip-shiats on Twitter that think we're going to 3200 tomorrow.
You don’t trade for money, you trade for freedom.
FTAG 2000
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$30,000 Millionaire said:

I went ahead and got out of 80% of shorts in case the 55 EMA bounce trick works again tomorrow.

don't let a win turn into a loss. I sold ASAN this morning on reversal when I saw it start powering through the 23.6% fib.
What window you looking at with the Fibs? Daily over last year?
irish pete ag06
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PETZ looks like accumulation has moved to testing to me. Higher highs and higher lows. Let's go!
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