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Brewmaster
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10:35a, 7/20/21
AG
VEON
310k share green 1 minute candle

ELOX
looks like shorts want to keep it under 1.40.
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McInnis 03
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In reply to McInnis 03 • 10:37a, 7/20/21
AG
McInnis 03 said:
Correlates with 2184 on the RTY futures, which is a line I have in play.


Basing here would be great for a leg through that resistance.
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Andy07
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In reply to 59 South • 10:45a, 7/20/21
AG
59 South said:
CrazyRichAggie said:
McInnis 03 said:
Pelosi covid positive
Vaccine not working?
If she dies, then that will be a relevant data point to support that.

Since the markets seem to kinda care about it again now, if anyone wants to dig into the data from the UK (and I know there are lots of data dorks here) where a huge number of people are vaccinated and is also delta ground zero at the moment, check this out:

https://coronavirus.data.gov.uk/

My biggest objective takeaway is that the case number UK fear pron needs to be taken in context, and we need to understand that the vaccines aren't that great at stopping transmission (around 60% effective I think) but are extremely effective at reducing hospitalization and death risk (90+% for both PFE and AZN here).

Some simple math: UK is testing 1.1MM people per day where the US is testing less that half that. US has approx. 5x as many people. So logically, if the US tested at the same rate as the UK, we could expect to see 10x as many cases than are currently being reported.

Trying not to derail, but this is VERY relevant to the markets and where we go from here. The markets will sniff out the truth before the media does.

And as always, remember that I'm not that smart so question my math...



Keep in mind the primary vaccine in the UK is the Astrazeneca which has about 70% efficacy. The Moderna and Pfizer vaccines are much closer to 95% efficacy, which may drive differences in your attempt to project US cases using UK data.
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J.P. 03
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11:00a, 7/20/21
AG
Welp, so much for that SPY weekend gap down.
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RenoAg
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11:11a, 7/20/21
VEON not wanting to join in the party. Appears back to doing normal stodgy VEON things. LOL.
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0708aggie
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11:13a, 7/20/21
AG
Credit where credit is due. Thanks McInnis on the SQ call. You just made me 6% of my portfolio for a 1 day play.
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McInnis 03
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In reply to 0708aggie • 11:18a, 7/20/21
mazag08
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11:29a, 7/20/21
AG
Just want to reiterate what I posted yesterday..

Quote:
Quote:
$30,000 Millionaire said:
There is some support at 4250/4200 and a lot of support at 4150. I would expect a bounce at 4250 and certainly at 4150 because we will get oversold there. Never a bad thing to take some profits on your shorts.

I am not convinced this doesn't rally like crazy, though.
Wave 3 has officially topped in SPX. We are in (a) wave of Wave 4 with support in the 250-4270 range. Since Wave 3 topped lower than expected, it's possible the (b) wave of this Wave 4 can take us to the 4450 level before dropping back into the C wave around 4150.

Quote:
I expect this a wave to conclude this morning. Don't be faked out by the b wave up, even if we reach new highs. We have lower to go in the next week or so.

We are in the 4th wave of a 5 wave bull trend started March of last year. Waves 1, 3, and 5 go in the direction of the impulse (bullish in this case, so up). Waves 2 and 4 are corrective waves. Each wave can be subdivided many times.

Yesterday started the 4th wave down. This will subdivide into a (down), b (back up), and c (down for the low of the 4th wave.

Yesterday completed a. Today we are seeing b, and it can take us to new highs as the 3rd wave topped off before hitting it's ideal fib target. Essentially, the market will think this correction is merely a blip and continue back on its old trend (wave 3) before getting scared again and dropping even further (which would be the C wave down to complete the 4th wave).

So don't get too greedy. This upswing could take us to new highs. It might not. If it starts to feel extra frothy, limit your risk. We have more lows to go before we start the wave 5 toward 5,000.
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0708aggie
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11:43a, 7/20/21
AG
Anyone looking at any scalps for after lunch?
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59 South
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In reply to mazag08 • 11:44a, 7/20/21
AG
Bro or Sis, you're gonna have to post some charts and diagram all this out for us visually folk.

I'll be honest, I'm the biggest Elliott wave skeptic on here mostly to my opinion that it only ever makes sense in hindsight (like a lot of technical indicators). But I'm open minded... but I'm also gonna have to see some pictures.
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H-town ag
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11:48a, 7/20/21
AG
I saw this morning that OA1 posted about $PROG JAN calls.

Have we exited or rolled the Oct calls?


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McInnis 03
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In reply to McInnis 03 • 11:53a, 7/20/21
AG
McInnis 03 said:
Took IWM 220c's for Aug monthly at $3.83.......I sense rotation is starting and I'd like to see if I can ride it up a bit. Bought time and not too far OTM to try and capitalize. Already up 5% and have stop loss in place. Will not let green go red here.

Russell has punched me in the gut too many times. Not on this trade.
These are just over $5 now.
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$30,000 Millionaire
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11:53a, 7/20/21
AG
sold IWM 07/30 216P for $2.80 in premium
You don’t trade for money, you trade for freedom.
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McInnis 03
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In reply to McInnis 03 • 11:55a, 7/20/21
AG
McInnis 03 said:
$BA breaking out of it's R1, 214.89 would be my next R2 on the daily
Coming into resistance right now, let's see.....
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Charismatic Megafauna
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In reply to 59 South • 11:56a, 7/20/21
AG
I went to find you some warlus squiggles but he appears to be mia since May 1
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0708aggie
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12:00p, 7/20/21
AG
Out of all calls for now. Sitting at 62% cash.
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59 South
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In reply to Charismatic Megafauna • 12:00p, 7/20/21
AG
NRD09 said:
I went to find you some warlus squiggles but he appears to be mia since May 1
I'm just so simple maybe to my detriment. Hey 50 day SMA test and backtest of clear SPY 423 breakout. Let's rock n roll!

PS at some point I figured out Walrus was a she.
If this post is on the B&I forum, lighten up it's just money!

Disclaimer: I'm not that smart.
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FTAG 2000
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12:04p, 7/20/21
AG
Grabbed some ICLK, came back on Mcinnis's -3ATR / increased volume scan.

Charting practice -

Stop at 7.22, price targets of $8.28, $9.73.
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Charismatic Megafauna
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In reply to 59 South • 12:08p, 7/20/21
AG
Hey if it works it works!

Btw i really like the elliot wave stuff as an explanation of retail sentiment. Makes a lot of sense to me but i don't like the lack of specifics/metrics. Feels a bit fortune teller-y "you will come into great wealth, then you will experience tragedy, however after that you will come into more good fortune, then it will be taken away from you..."
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austinAG90
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12:14p, 7/20/21
AG
(Bloomberg) -- Noble Corp. and a consortium that includes Transocean Ltd and Dolphin Drilling are competing to buy the assets of Seadrill Ltd, Reuters reports. citing people familiar with the matter.
Consortium comprising Transocean, Dolphin Drilling and a third partner put in an offer in early July that consists of cash, Transocean shares and an agreement to take on some of Seadrill's existing debt
Bid said to be is still under consideration by Seadrill
Seadrill tells Reuters it remains focused on the restructuring of its balance sheet
Transocean declined comment while Dolphin Drilling and Noble did not respond to Reuters' request for comment
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Shundere
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In reply to austinAG90 • 12:25p, 7/20/21
This might explain all of that insider buying.
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Ragoo
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In reply to 59 South • 12:29p, 7/20/21
AG
59 South said:
If y'all don't believe in inflation yet, get this... I'm going right now to pick up a year supply of new contact lenses for almost 4 figures USD...
1-800-contacts, bro
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0708aggie
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12:38p, 7/20/21
AG
FJ, you looking at SPY puts here coming up at resistance at 4330?

Might try some 7/21 $430
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FJ43
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In reply to 0708aggie • 12:46p, 7/20/21
0708aggie said:
FJ, you looking at SPY puts here coming up at resistance at 4330?
I am . Just bought some 430P at $2.05 but feel like I am having to babysit them. I would like to trade these out then on any push back up see where the rejection may be.

$432 may be it for today but not sure.

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FJ43
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12:49p, 7/20/21

Sorry guys so quiet and not helping provide some plays.

My mom had emergency surgery yesterday then during that found her heart was weak. So I have been out of it mentally to execute and making lots of mistakes trading emotionally vs technically.

Don't want to lead you guys down the same path today.

May go flat and head for TX but waiting to hear test results.

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JDTxAg98
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In reply to FJ43 • 12:50p, 7/20/21
AG
Prayers FJ for your family
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Bosco
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12:51p, 7/20/21
AG
Prayers for FJ's momma!!
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gougler08
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In reply to Ragoo • 12:53p, 7/20/21
AG
Ragoo said:
59 South said:
If y'all don't believe in inflation yet, get this... I'm going right now to pick up a year supply of new contact lenses for almost 4 figures USD...
1-800-contacts, bro
Just get better eyesight
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ProgN
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In reply to FJ43 • 12:55p, 7/20/21
FJ43 said:

Sorry guys so quiet and not helping provide some plays.

My mom had emergency surgery yesterday then during that found her heart was weak. So I have been out of it mentally to execute and making lots of mistakes trading emotionally vs technically.

Don't want to lead you guys down the same path today.

May go flat and head for TX but waiting to hear test results.

Get to Texas and take care of mom. We'll all be praying for her and still be here when you're ready to comeback.
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jimmo
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In reply to ProgN • 12:58p, 7/20/21
Prognightmare said:
FJ43 said:

Sorry guys so quiet and not helping provide some plays.

My mom had emergency surgery yesterday then during that found her heart was weak. So I have been out of it mentally to execute and making lots of mistakes trading emotionally vs technically.

Don't want to lead you guys down the same path today.

May go flat and head for TX but waiting to hear test results.

Get to Texas and take care of mom. We'll all be praying for her and still be here when you're ready to comeback.
100%
T&P
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FJ43
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1:00p, 7/20/21

Thanks guys for the thoughts and prayers. Much appreciated.
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ProgN
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In reply to FJ43 • 1:01p, 7/20/21
Pack the truck and get on the road. Safe journey brother.
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Brewmaster
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In reply to $30,000 Millionaire • 1:01p, 7/20/21
AG
$30,000 Millionaire said:
sold IWM 07/30 216P for $2.80 in premium
bull flagging on daily, what you see? I'm in a rare case of making money on both sides of a straddle. Made money on the IWM puts, now waiting on the call side.
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FTAG 2000
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1:08p, 7/20/21
AG
$SAVA warming up.
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ag94whoop
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1:13p, 7/20/21
AG
Prayer for your mom FJ and for you. I have gone through a lot with my mom over the last several years so I fully understand. Lost my dad when I was 19 and I'm an only child so I'm all she has. Take care of your momma brutha
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