Sorry I'm slow...tsla getting it's balance sheet in order can only mean they are trying to convince someone to lend them more money, or trying to get someone to buy them, right? (I thought your post was saying there was some other company involved that was tying up loose ends because tsla was buying them)

Catching up from yesterday and wondering what folks are seeing in FLGC. This is an incredibly bearish chart for a company that doesn't really even look like a company. Set aside the chart here's their latest news other than yesterday's run. Yesterday's huge run only served to capture prices from the end of last week.

Six month revenue of $2.1M which is less that 1/3 of operating expenses. They do have a good amount of cash so they probably won't dilute your shares to generate more anytime soon but this is not a good set of numbers.

Just be careful here. This looks to me like the beginning of a chart that six months from now is at $2.50 and a bunch of this board is trying to figure out how to exit.

NRD09 said:

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Sorry I'm slow...tsla getting it's balance sheet in order can only mean they are trying to convince someone to lend them more money, or trying to get someone to buy them, right? (I thought your post was saying there was some other company involved that was tying up loose ends because tsla was buying them)

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I was 100% kidding. My thought would be tsla is trying to get bought in normal situations but with their market cap? LOL.

Not sure what they are doing to be honest but my comment was a joke.

I bought it for a trade simply because of the volume traded Friday. I look to flip it at the open on Monday

Gotcha, yeah I'm sitting here thinking "if tsla is courting a buyer that wants to scrutinize their financials, they need to find another sucker! "

Hey man don't hit us with them negative waves so early in the morning!

ProgN said:

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I bought it for a trade simply because of the volume traded Friday. I look to flip it at the open on Monday

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Fair enough. As long as you have a clear exit strategy that's short term. Some on here have bought things like this thinking it's going to run up and there's nothing here to show a run up is coming. Friday was a good day and last week was a good week but it's been decidedly bearish for five weeks and looks for more of the same.

Good luck with it!

In general I agree with Loyal Ag.

FLGC is risky. I took it for a short term play on a pop. Not sure if Friday will be the end of that pop or more to come on Monday. You should have a tight stop on this to protect yourself.

$30,000 Millionaire said:

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BaylorSpineGuy said:

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30K, you showed us divergence in ASAN between price and volume, how do u feel about SPY? Looks the same to me. Decreasing volume in 3 consecutive days with advancing price. Wednesday did the most green volume all week but only outdid 2 of the preceding 4 red volumes. Was this a bear trap?

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I will spend some time thinking about this. Macro market volume is a bit different than individual stock.

Unrelated ZM starting to look good for put selling.

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So I was thinking about this more and more. These ETF's and indexes, in general, are just made up of individual stocks. So doesn't it just reflect the overall volume of individual stocks, anyway, just at a massive level?

Also, I was doing some model T retracements on the recent SPY chart this morning. The ATH is like 454.05. The lowest day we had since that high saw us dip into the mid-428's. If you do the 50% retracement based on that low, then we are slightly past the 50% retracement. However, on the day that low was hit, it did recover some losses and closed a couple points higher. From the closing price, we have touched the 50% retracement a couple times and been pushed back (it's like 443.95 or so (effectively 444), which looks like resistance now.

This makes the price-volume divergence concept interesting. If this bull market is running out of gas, then it makes sense that each charge to break the new resistance (50% resistance) is being attempted with decreasing volume.

Anyway….you're a Fortune 50 exec and I wasted my 20s and half my 30s learning to operate brains and backs. You're experience >>>> my 8 months of actually caring about money/markets/finance, etc.

Your opinion, as always, is greatly appreciated.

Trust me, large cap companies aren't very visionary. They devote 98% of their energy to the current quarter.

$SPY, so not scientific or anything, but I drew a line of where the low watermark on volume tends to be. Keep in mind summer volumes are normally lower than 4Q and 1H in a given calendar year.

I know this is busy, but I still have those SPY levels up. Don't pay attention to the top.

net net, I don't think you can really read anything into it and I'll post a clean chart in a second, but look where SPY is stalling a bit (hint daily 21).

$SPY is sort of in no mans land. It needs to clearly push above the 21 and resume an up trend to be considered bullish.

We probably give /ES 4470 a try next week. That's the make or break moment in my opinion. If we get rejected off of that, then seasonality could come to bear and we could have a longer sideways or down trend. Also possible that we resume a slower uptrend with some volatility. As long as the fed prints, I tend to think that's maybe a bit more likely. Don't be fooled thinking that we're done with corrective action, though...

$NDX if it is helpful for anyone.

$RCL very extended, but super bullish. Look for dip to enter long.

$AIG - bullish consolidation near recent highs (ATH is about $58). This will be hard to trade with options unless we get a major move.

$NVDA - watching closely. The real move is over $230, but I do like this one. Easy cut with loss of 8 EMA on a closing basis (I feel like I don't emphasize that enough).

$UPWK - I am still in this one. I'd like to see upward action this coming week.

59 South said:

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$30,000 Millionaire said:

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Trust me, large cap companies aren't very visionary. They devote 98% of their energy to the current quarter.

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Truth!!! Can be said about *most* publicly traded companies. Invest in the other ones.

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I look for monopolies with unmatched products.

$IRBT - I think this is basically beaten the F down.

$FLR - Probably not the best use of capital, but I think you can ride this to $17.50



Not a horrible choice to sell puts in and flip for easy cash flow.

$XOM - I like how this looks. Oil may not always be so cheap. Probably a shares play. You can't sell puts in it for what the downside premium is. Almost anti SKEW.

$ERIC - the world leader in 5G should not be priced this lowly. Gap above.

These are shares plays, by the way

$30,000 Millionaire said:

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$IRBT - I think this is basically beaten the F down.

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This is one I follow from time to time. It's pretty heavily shorted.

For me, I'm gonna play this like a goal post. The first goal post was late July. When I see the next one, I'm gonna make a move. With the high short interest and fairly low float (< 30M shares), it could move well with a big volume spike.

$CRM quite the move here for a large cap. I think we'll be able to catch it coming down as well.

$KMX same thing. This rally is a bit long in the tooth and it's going to need an 8 touch soon. Earnings on 9/30, so I would wait, most likely. This is a really big run into earnings, so if I were doing an earnings play it would be an ATM call credit spread.

$ASAN - you would have made money if you shorted off the last time I posted. I am still waiting for this to signal puke (push below 8 EMA). Once this starts to retrace, I promise there is money to be made. Minimum signal is close below $118.

I despise them, but $AAL looks ready to launch.

I didn't draw it, but safe play is breakout of Darvas box above $210. OK to early enter with tight stop.

$GOOGL looks ready.

$30,000 Millionaire said:

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$GOOGL looks ready.

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Agree. I play GOOG consistently with credit spreads. It has reclaimed the channel it's been in since 9/1 after dropping out with the macro market on Monday. After touching the 50 EMA Monday it cleared the 8/21 with a strong day Friday. It's right around 2850. I think we'll see 2900 pretty quickly this week. Not exactly the same chart but they're pretty close to each other. My quick read is the same for both stocks.