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McInnis 03
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McInnis 03 said:

Seriously, I need a second set of eyes on this $SKIN chart. What am I missing here? This looks really attractive.



Did anyone listen to this fool? Pretty good run into yesterday, damn.
***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
austinAG90
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Thursday Macros

Mild Risk Off Again...Treasuries Better...Chinese Tech Slammed...US Corp Rock

A colleague wrote this morning " Yesterday marked the 50th trading session that 5 year treasuries have traded at their February 25th closing level of .82"... Interesting... We have clearly been range bound, even though 10 years have traded from a 1.76 high yield close on March 30, 2021 to a low of 1.126 on August 4, 2021... This tells us that the real action has been in the credit markets, where one can still get some yield... Both HY and IG have been where the action is... And it was no different yesterday where we saw another 17 borrowers price over 27 billion of issuance with ease...Walmart was the leader with 7 billion priced... This brings us to over 60 billion priced in the first two days of a holiday shortened week (why do they always seem longer)... And we have now priced over 1 trillion for the year... How long will this last? Hard to say, but it looks like clear sailing... Low rates and Central Banks are too scared of their shadow to bring in accommodation... John Authers writes this morning "Debt markets eerie calm echoes the eve of the financial crisis"... We agree, but it is all about timing... The Fed and the other CB's have gotten the world hooked on their "low rate sauce", can they ever weed them out of that?... Stagflation looks closer every day... Inflation is not going lower and supply chains are not improving for now... Now back to the overnight session.

Chinese tech got slammed again as regulators are back out there in force.. Tencent was down over 8% this morning and the HK indices got hit hard, with Hang Sang down 2.3% and their Nasdaq down 2.81%... This led to an overnight low of about 27 points down for S+P futures... They have made most of that back... This is September so do not lose track that a correction could creep up... Employment situation does not seem to be improving in this country and the uptick in jobs, with the record jolt numbers, does not seem to be getting people employed. There is more going on than meets the eye.

Fed... Lots of Fed speak today... Bostic was out overnight in the WSJ saying the Fed will taper this year, but not announce in September...Kaplan speaks today and will say that September should be the announcement for starting to taper immediately, but that won't happen... Even the Doves like Williams think the tapering should begin this year, but he and the others that say that are losing sight of the clock... If the Fed can overemphasize that tapering is not tightening, then why can't they make the same argument that tapering has no direct correlation to "maximum employment"... Whether the Fed tapers or not will not cure the supply chain problem, won't cure the fears of Covid, won't change where the jobs are versus where people live, won't reverse the 55 year old's who have retired... The only thing that tapering does is keep interest rates lower. Corporations continue to come with massive amounts of issuance that they are either using for financial engineering, or just accumulating.. Well over 7 trillion held...

The next major announcement will be whether Powell gets reappointed... We think he will but the longer Biden waits the lower the odds become...that will remove one uncertainty from the market, but Powell needs to get on the tapering treadmill now, while markets are still good and the window is open... Asset prices are high enough and many are in bubble territory.

30 year auction today...we expect it to go well enough... Range for 10 years is 1.28-1.38 for today... We will adjust as needed but 1.38 is strong support...


Maximum employment may be goal that is impossible to reach... Jolts data came out this morning 900,000 job openings higher than the expectation... 10.934 million openings... And jobs are going unfilled... How long can these jobs stay out there before technology replaces them?... Or is it that everyone has moved away from where the jobs are?... Supply chains are making it worse... Ask yourself how car companies can hire more people if they can't get chips to make the cars... And that is just the easiest analogy to make... Then take it a step further... HOW IS DELAYING TAPERING GOING TO SOLVE THE JOB PROBLEM?.. It isn't... All tapering is doing is making the asset bubble worse... Continuing tapering is not the right answer for maximum employment... Corporations do not need more help raising money ... There have been 700 IPOs this year and we are about to break 1 trillion of corporate bond issuance, and we are only in September... That is on top of the close to 7 trillion of cash on corporation balance sheets... The solution the Fed is pursuing for employment is not the right answer...
Ferris Wheel Allstar
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https://www.cassavasciences.com/news-releases/news-release-details/cassava-sciences-present-hc-wainwrights-23rd-annual-global


Cassava Sciences to Present at H.C. Wainwright's 23rd Annual Global Investment Conference
Sep 09, 2021
PDF Version
AUSTIN, Texas, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Cassava Sciences, Inc. (Nasdaq: SAVA), a clinical-stage biotechnology company focused on Alzheimer's disease, announced today that management will present at H.C. Wainwright's 23rd Annual Global Investment Conference, a virtual event that takes place September 13-15, 2021.

Cassava Sciences' presentation is a 'fireside chat' with Vernon T. Bernardino, PhD., Managing Director, Biotechnology Equity Research, at H.C. Wainwright.
McInnis 03
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I'm seeing some of my futures folks stating that overnight inventory is short....that if we can get past and stay past 4512.50 or so on ES we could get some bear covering/trapping in play........I'm still long SPY from yesterday.
***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
McInnis 03
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Anyone loading the ROKU dip? 10/15 options were mentioned by Nick as a "cheap" call chain




***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
cageybee77
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futures tryna turn green
Bob Knights Paper Hands
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Yesterday's dip took it below the 5-day and just at/below the 10-day. DMA chart doesn't look terrible, but that's really based on the big green day 8/30. OBV and especially A/D make it look like big money has been continuously getting out over the last month and last 3, 6, & 12 months.

I wouldn't go long until it gets above the 10ema and probably the 5SMA. Unless there is some bullish catalyst you know about. If you're playing the bear side I'd wait for the open and if the first 30 minutes are red I'd play it down to $5.17 (potential resistance from the 20SMA. After that there is the lower BB and recent pivot around $4.60-$4.70 and then nothing else until almost $4 back from 3/2020.
Bob Knights Paper Hands
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cageybee77 said:

futures tryna turn green

I don't trust it any further than I can throw it. And with your bad back Ed....
cageybee77
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newby discovery.....stop/limit transactions vs stoploss. jeez-o-pete should have known this -would have saved/made me alot of money. dummass
Bob Knights Paper Hands
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McInnis 03 said:

I'm seeing some of my futures folks stating that overnight inventory is short....that if we can get past and stay past 4512.50 or so on ES we could get some bear covering/trapping in play........I'm still long SPY from yesterday.

I closed my SPY longs from yesterday and am waiting for the first hour to see if I play today and which way.
Ferris Wheel Allstar
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anyone else headed to Denver this weekend?
Bob Knights Paper Hands
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cageybee77 said:

newby discovery.....stop/limit transactions vs stoploss. jeez-o-pete should have known this -would have saved/made me alot of money. dummass

We've all done that. Don't beat yourself up over it.
$30,000 Millionaire
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Ferris Wheel Allstar said:

anyone else headed to Denver this weekend?
what's in Denver?
You don’t trade for money, you trade for freedom.
BrokeAssAggie
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$30,000 Millionaire said:

Ferris Wheel Allstar said:

anyone else headed to Denver this weekend?
what's in Denver?
come on 30K!
McInnis 03
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$30,000 Millionaire said:

Ferris Wheel Allstar said:

anyone else headed to Denver this weekend?
what's in Denver?
A meetup regarding the oblong shaped pigskinned object.
***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
$30,000 Millionaire
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took DDOG from 2.10 to 3.10. Woot woot.
You don’t trade for money, you trade for freedom.
Philip J Fry
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Ferris Wheel Allstar said:

anyone else headed to Denver this weekend?


In Durango for the week trying to close on a house. Heading home tomorrow though. /Dear Diary
Philip J Fry
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Big green CLOV candle to start the day.

Followed by the usual daily larger red candle.
McInnis 03
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McInnis 03 said:

I'm seeing some of my futures folks stating that overnight inventory is short....that if we can get past and stay past 4512.50 or so on ES we could get some bear covering/trapping in play........I'm still long SPY from yesterday.
LETS GO.
***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
SF2004
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$30,000 Millionaire said:

took DDOG from 2.10 to 3.10. Woot woot.
I read this as DONG...

Need more coffee.
Barty Dont Hedge
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McInnis 03 said:

McInnis 03 said:

I'm seeing some of my futures folks stating that overnight inventory is short....that if we can get past and stay past 4512.50 or so on ES we could get some bear covering/trapping in play........I'm still long SPY from yesterday.
LETS GO.
Show-off
$30,000 Millionaire
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got into GOOGL. moved before I could post. Look for small dip. This really gets going over about 2885.
You don’t trade for money, you trade for freedom.
Charismatic Megafauna
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Cmon sava let's do this!
Ccutamu
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Philip J Fry said:

Big green CLOV candle to start the day.

Followed by the usual daily larger red candle.
I hate CLOV but I can't quit it.
FTAG 2000
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McInnis 03 said:

Anyone loading the ROKU dip? 10/15 options were mentioned by Nick as a "cheap" call chain





I got into 360/370 10/15 call spreads at the open.
Philip J Fry
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So frustrating watching it go from +3.5% to 0 in minutes.
McInnis 03
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LULU ABOUT TO RIP FACES

Maybe. Calm down son.
***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
Barty Dont Hedge
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Anyone else continue to add WWR dips?
Barty Dont Hedge
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Barty Dont Hedge said:

Anyone else continue to add WWR dips?
In the words of the great philosopher 50 Cent "Get rich or die tryin"
Philip J Fry
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I would, but I'm over exposed on it as it is.
Carlo4
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So ELOX casually shot up 15% with massive volume.
Bob Knights Paper Hands
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Barty Dont Hedge said:

Anyone else continue to add WWR dips?

I've been putting 25% of my profit from other trades into WWR. I'm hoping TSLA or CLOV pay big this week so I can sock away a good chunk.
Bob Knights Paper Hands
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NRD09 said:

Cmon sava let's do this!

Any news? Did they drop the BS lawsuit?
FTAG 2000
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ASAN wants it.

Charismatic Megafauna
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Someone posted earlier about a fireside chat or something with the ceo today
Edit: fireside chat/virtual conference is next week... announcement was today
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