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25,078,915 Views | 233832 Replies | Last: 43 min ago by Talon2DSO
$30,000 Millionaire
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decent day and week today. Could have been a great week, but made some mistakes with not properly respecting stops.

You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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Have a few minutes - some reversal ideas for next week. Look for confirmed reversal obviously.

$JNJ

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$30,000 Millionaire
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AG
$LLY

You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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$DVA. Demand for this stuff isn't going away.

You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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AG
An alternative viewpoint - we have been looking at the 50 day EMA for where the selling stops, but I noticed that around -1 ATR has happened the last several times.

I'll be looking for bounce off 4450 next week.

You don’t trade for money, you trade for freedom.
Touchless
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AG
FJ - came across this and made me think of you.

1973 Toyota FJ Cruiser 4x4 SUV
FJ43
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Touchless said:

The FJ - came across this and made me think of you.

1973 Toyota FJ Cruiser 4x4 SUV
Great vehicles and timeless.

Wow that's cheap. Suspect it needs a TON of work. My guess when all is said and done it will sell for 3-4X that in its current condition.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

Triple_Bagger
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30k - Did you short ASAN today? I thought about it after you said to short if it hit 103. It got close, but I was too scared.
$30,000 Millionaire
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Double_Bagger said:

30k - Did you short ASAN today? I thought about it after you said to short if it hit 103. It got close, but I was too scared.


No, I got busy on DDOG.
You don’t trade for money, you trade for freedom.
BaylorSpineGuy
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Hey 30K, I love your charts but had some questions. Your candles are colored red, yellow, or green. And they are open or filled based on up and down….but what do the colors mean since open vs filled in reflects price change?

Thanks in advance!
$30,000 Millionaire
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AG
Color reflects trend. Bullish momentum -> green, neutral is yellow, bearish is red.
You don’t trade for money, you trade for freedom.
BaylorSpineGuy
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Thanks for that!

I bought long dated puts on AFRM today. Feb '22 expiration. Should be enough time to close that gap.



slacker00
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AG
What's your criteria for reversal?
FTAG 2000
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I'd put MITQ on the follow list for the next week. IPO'ed in July at 27, has come down to the 3ish area.

Multiple times the last two weeks in the AH someone is buying shares.
Triple_Bagger
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$ASAN

Good old Dustin Moskovitz just bought another 750,000 shares of ASAN at $91-$100. He must really like his company.

https://www.sec.gov/Archives/edgar/data/1477720/000120919121055565/xslF345X03/doc4.xml



$30,000 Millionaire
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slacker00 said:

What's your criteria for reversal?


Price action mainly. The classic tell is a close above the high of the low bar on a given timeframe like daily.
You don’t trade for money, you trade for freedom.
slacker00
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AG
Yes, familiar with that one, just wasn't sure what you might be using.
ProgN
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BaylorSpineGuy said:

Thanks for that!

I bought long dated puts on AFRM today. Feb '22 expiration. Should be enough time to close that gap.




Market is closed so I'll bring this up now. I love the way that the market is becoming a passion for you, just like your professional skill. I'm confident that your office receives north of 5 calls per week from brokers/money managers promising you great returns. You're doing it right. No one on this thread should ever need to rely on another individual because everyone here is more than capable of doing it for themselves. Great job doc!
BaylorSpineGuy
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I sincerely appreciate all of you. You have all been kind and welcoming to me and taught me a ton! I've been reading a ton of books on this topic, and I never had a dollar to invest before the last 8 months, so it's like drinking from a fire hose.

Reality is my account has mostly traded sideways even since starting to trade options and being in long surgeries makes it hard to trade actively, but I do what I can and have tried to be a positive contributor here even tho I'm sure I'm annoying to you guys lol.

Thanks and have a great weekend all!

ProgN
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BaylorSpineGuy said:

I sincerely appreciate all of you. You have all been kind and welcoming to me and taught me a ton! I've been reading a ton of books on this topic, and I never had a dollar to invest before the last 8 months, so it's like drinking from a fire hose.

Reality is my account has mostly traded sideways even since starting to trade options and being in long surgeries makes it hard to trade actively, but I do what I can and have tried to be a positive contributor here even tho I'm sure I'm annoying to you guys lol.

Thanks and have a great weekend all!


You as well doc and keep healing people.

You'll learn something in the market everyday, even if you don't make a trade. There is no crash course in the market and the more time you glance at it, your brain will process something. Losing trades suck and hurt, but they're probably the most powerful ways to learn and will curtail similar mistakes in the future. Continue on your path and then while healing patients with your skills, your mind will be working for your family. Think of it as legal double dipping and being rewarded for your time on two fronts. Don't get discouraged, nor try to master it all at once. How many years did you invest before you became a surgeon? The market is very similar. Continue on your journey sir.
BaylorSpineGuy
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I went straight to med school from college then residency and fellowship. 2+ yrs in Neurosurgery practice now in DFW.

And yes, have tried to discipline myself better after some misses, and I'm trying to limit how much I spend and pick high probability trades. You guys are great.
irish pete ag06
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bmoochie said:

This makes me wana vomit. I tried a lotto and decided to cut bait after not much movement so I thought it was just another eat premium day. These would have paid unreal return for an account like mine.
These suck... but learn from it and don't let it cause FOMO to make your next trade an emotional one. I do this all the time.

Cut a trade quickly that seems to not work. It rockets.

My next trade I hold it way too long instead of cutting it when it moves against me and it turns into a huge loss.

This is trading, bud. There will be another day!
$30,000 Millionaire
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BaylorSpineGuy said:

I went straight to med school from college then residency and fellowship. 2+ yrs in Neurosurgery practice now in DFW.

And yes, have tried to discipline myself better after some misses, and I'm trying to limit how much I spend and pick high probability trades. You guys are great.


Multi day swings and premium selling will have to be your style.
You don’t trade for money, you trade for freedom.
ProgN
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$30,000 Millionaire said:

BaylorSpineGuy said:

I went straight to med school from college then residency and fellowship. 2+ yrs in Neurosurgery practice now in DFW.

And yes, have tried to discipline myself better after some misses, and I'm trying to limit how much I spend and pick high probability trades. You guys are great.


Multi day swings and premium selling will have to be your style.
I was thinking the same thing.
BaylorSpineGuy
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Yes, I have tended to buy SPY with strikes 7-10 days out, particularly trying to follow its chart in recent months. Puts near OPEX, calls afterwards, etc. long dated calls/puts on individual stocks based on chart trends, channel lines, etc.
$30,000 Millionaire
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BaylorSpineGuy said:

Yes, I have tended to buy SPY with strikes 7-10 days out, particularly trying to follow its chart in recent months. Puts near OPEX, calls afterwards, etc. long dated calls/puts on individual stocks based on chart trends, channel lines, etc.


You need to buy 30+ days out unless you are doing verticals. Selling puts short term is OK if you're cool with being assigned.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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I'm keeping en eye on $GME. This is a weekly chart. Notice that EMAs are stacked positive and that the 34 was cleanly rejected. It's also in a weekly squeeze. I think on a daily time horizon it will likely enter a squeeze soon. It's in a squeeze on the 3D.

Over about $215, I think this thing can fly. My play here on a trigger would be to enter OTM call debit spreads. Probably 250/450 or 250/350.

You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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I am not sure how much more gas CEI has in the tank. I am down to about my final 20% in it. I'm probably going to take my profits next week. After buying dips, my basis is about $0.65.

I am wiling to buy a solid dip that starts to reverse upwards.

You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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Someone asked me about $GMVD the other day but I forgot to respond. I'm still in it. I think it bounces with the market and will catch its catalyst. Look for it to set a higher low here before continuing upwards.

You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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$BGFV - this is a C&H pattern, but I drew a wedge to reflect where I would exit. You know what to do if you get a channel break to the upside.

You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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$SPX major support and resistance in the event this is helpful for any of you next week. I normally just eyeball these things and keep mental track of them. This is not every S/R level. These are major supports. Blue lines are weekly support lines and gold lines are daily support lines.

You will see that we are approaching a major support area of 4440-4450. I personally think we will bounce here and trade 4500 again this week. If we lose this support, I included the 50 EMA. That's been the bounce point the last couple of times and it aligns with daily support of 4410. Below that, it is a long way to 4370.

What I think will happen is we bounce this week, get up to 4500, struggle a bit, and then the market decide if more up or more down. These levels are probably going to be tradeable through October.

Note that there is an unfilled gap from 4450 to 4442. I bet that gap gets filled. 4450 must hold for bulls.

You don’t trade for money, you trade for freedom.
AgShaun00
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End of first quarter. Buy the dip now or does it fall more?
FJ43
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AgShaun00 said:

End of first quarter. Buy the dip now or does it fall more?

Been about like my trade execution lately.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

BullSprig07
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Well Zack Morris says it's going to the Mars so…
Water Turkey07
wanderer
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OA tweeted a GM options play yesterday. How'd he know??

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