I think Fastly is oversold as well. Thinking about how to play.

Selling any ostk $70 puts here?

$30,000 Millionaire said:

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I think Fastly is oversold as well. Thinking about how to play.

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Tic likes it

https://t.me/tictoctrading/865

Ragoo said:

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Selling any ostk $70 puts here?

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Yes. Will sell on Monday.

McInnis 03 said:

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$30,000 Millionaire said:

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I think Fastly is oversold as well. Thinking about how to play.

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Tic likes it

https://t.me/tictoctrading/865

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I had not seen that. I manually looked at charts basically by hand this week. I'm trying to decide how to play it

@30K,

What do you look for in a stock with RSI <30 to indicate a "reversal"?

SF2004 said:

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@30K,

What do you look for in a stock with RSI <30 to indicate a "reversal"?

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Let's use AZRX as an example. A reversal is normally signaled by a close above the high of the low bar. I pointed an arrow at the low bar for reference. So you look for a close above the top of the wick, which we got this week. Also notice that this has held support and has a gap above that has not been filled.

This could absolutely fall apart, but this is an example of a trade I will take every time because it's a higher probability setup. Earnings is coming up which could affect it, but I think whatever they'll say in earnings is likely priced in. I bet small anyway. You would cut at loss of support.

$30,000 Millionaire said:

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McInnis 03 said:

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$30,000 Millionaire said:

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I think Fastly is oversold as well. Thinking about how to play.

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Tic likes it

https://t.me/tictoctrading/865

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I had not seen that. I manually looked at charts basically by hand this week. I'm trying to decide how to play it

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NFLX might be a good one for next week as well

BREwmaster said:

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$30,000 Millionaire said:

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McInnis 03 said:

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$30,000 Millionaire said:

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I think Fastly is oversold as well. Thinking about how to play.

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Tic likes it

https://t.me/tictoctrading/865

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I had not seen that. I manually looked at charts basically by hand this week. I'm trying to decide how to play it

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NFLX might be a good one for next week as well

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What are you seeing? I'm looking at this on my phone but if I were to play it purely on charts, I would sell an iron condor 525/530/505/500.

I see the W but it's got to clear that stiff resistance at 525. I would like this long above the level I marked 525.90.

$30,000 Millionaire said:

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BREwmaster said:

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$30,000 Millionaire said:

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McInnis 03 said:

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$30,000 Millionaire said:

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I think Fastly is oversold as well. Thinking about how to play.

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Tic likes it

https://t.me/tictoctrading/865

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I had not seen that. I manually looked at charts basically by hand this week. I'm trying to decide how to play it

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NFLX might be a good one for next week as well

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What are you seeing? I'm looking at this on my phone but if I were to play it purely on charts, I would sell an iron condor 525/530/505/500.

I see the W but it's got to clear that stiff resistance at 525. I would like this long above the level I marked 525.90.

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I was thinking 500/520p 520/540c iron condor. The straddle gets more premium collected. Pocket 12,500 and risk 7,500 per 10 contracts out 14 days. Bollinger Banda are pretty wide and I think NFLX has to consolidate around 520 before it picks a direction.

I like the iron butterfly as well. If you could get $10 it's probably worth it.

Edit, I see that it's better than 1:1 in your post. 532 - 508 for profit seems reasonable.

Any thoughts on how far AMD might drop this week?

Where do you have model t? Around $101 or $102? It might go there. There was one MA around $107.5 that might be support. If the market continues melting up we might see this profit taking end and AMD continue upward.

Just out of curiosity, is there a stock screener that identifies potential model Ts?

What large/mega caps are setup to break out or have continuation next week? High liquidity types.

Looking for ones to dig into their charts.

FDX might be bottoming off of 275, could bounce back but probably a longer term play. TSLA looks like could have some downside this week, might fill the gap down to 687 at least.

SoTXAg09 said:

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J.P. 03 said:

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UVXY closed at a new 52-week low.

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UVXY is always decaying. So other than brief spikes, it's always losing value.

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This is one of those replies where I'm not sure if I should use the thumbs-up emoji to say thanks or the laugh-cry at myself for not knowing that. Appreciate you letting me know that before I made any attempts to trade it.

If BTC continues to pump then I think SQ keeps flying.

So money flowing back to crypto?

Lots of crypto talk on the infra bill. Unsure what's up there but worth diving into

My wife has seen several Bitcoin ATMs in the last few days. Assume you can get USD from your crypto account via BTC to USD conversion.

Doge up 20%

That guy is an arrogant ass and his false little laugh is grating. He lost credibility with me when he implied WWR would be at $0 by September. No denying the stock is in a downtrend but technicals are all well and good until there is a catalyst.

To be fair, he said that was extremely unlikely to happen. I think he was just pointing out how steep the curve was.

That said, if I read the charts right, our breakout to 4.09 could be setting up a run to 4.41 or so?

Yes, we will need real power to get over the 200. Two closes over the 21 will count as a reversal

Digging in today and looking for potential breakout plays.

With crypto getting traction again.....

SI - Silvergate Capital

These guys are fintech & crypto banking. A little snippet from digging in...

In May, Silvergate Capital (NYSE:SI), a bank that operates in the cryptocurrency space, struck a blockbuster partnership with Facebook to become the exclusive issuer of the Diem U.S. dollar stablecoin, formerly known as Facebook's Libra project. Not only will Silvergate become the exclusive issuer of the Diem, but it will also manage the Diem reserve.

• Chart wise this has been consolidating for 2.5+ months.
• Friday close above primary range.
• EMAs crossing with 5,8,12 EMA over 50 cross and 21 close.
• MACD cross and may begin to fire long.
• Over Friday's high of 117.25 could be entry
• Over 119 (green line) should move to 125 then 133.96 MT
• High was 187.87

Daily



Weekly

$30,000 Millionaire said:

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Yes, we will need real power to get over the 200. Two closes over the 21 will count as a reversal

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I agree with this. The 20/21 has been a pretty important MA for this stock over the past 12 months. A breakout to close above with volume would be something to pay attention to.

Also that guy's laugh is pretty grating, but I've seen a few of his videos that had pretty decent charting in them.

BourbonAg said:

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About to start some light reading.

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On a similar note, anyone here have thoughts on the Wyckoff method?

So any bets if there is an announcement of Fed tapering this week? Read some opinion articles over the weekend on macro markets signaling a change is needed.

I thought everyone was banking on the Jackson Hole Symposium as being the timeframe that if something might happen it would be announced then. That's at the end of the month I believe.