SOFI 1 min volume again

Anyone else that is long $ROKU loading shares here? Sitting around $315.

Those of you excited about SAVA. It's floating at a pretty key point here.

You see.. it filled a gap at $67.6 this morning. It had been flirting with that fill for a couple trading days. When a gap gets filled, it rarely immediately bounces back. Usually it looks for the next support or resistance level, in this case, resistance since the gap fill was up.

In this case, it's not quite to a cup fill at $73.75,, but it clearly bounced off something here in the short term. Whether bullish or bearish, it's hard to imagine it going down in the micro count. It really needs something substantive to bounce off of. Then again, it could very well be that once it filled the gap, sentiment cooled off and it's taking a breather along with the overall indexes (which have really slowed here mid day).

So we are at a key level. If it's going up significantly more, it needs to take out $74.35. That's the next substantive resistance level. If it's going to break lower (which is my opinion..potentially down to low 20's before booming back which would line up with both a. my wave count, and b. a bounce off the 610 EMA), then we want it to either start now and take out $38.75 or to bounce off that resistance above at $74.35.

Either way, decision is coming. But it might build slowly before catching you off guard. Know your levels. Also follow news. Bio's can react QUICK when something breaks.

I have not executed any bearish plays. I would LOVE to be bullish. I could also make a bullish case. I just need to see some things verify first. Until then, I'm 60/40 bearish as that shows the cleaner setup and lines up with the trajectory of the markets and indexes over the next couple of weeks.

Double_Bagger said:

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Double_Bagger said:

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$SAVA

Assuming SAVA continues this trend, next weeks C65/70 spread @1.6 is attractive.

Could do straight calls if you want a home run, but higher risk. If we lose this trend you could lose 50% in a hurry.

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These are just about a double. I'm trimming half my position here and letting the profits ride.

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Just got out of these. Thanks DB!

mazag08 said:

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I have not executed any bearish plays. I would LOVE to be bullish. I could also make a bullish case. I just need to see some things verify first. Until then, I'm 60/40 bearish as that shows the cleaner setup and lines up with the trajectory of the markets and indexes over the next couple of weeks.

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Maybe one could say the bearish case is: Dewey, Cheatem and How are still pumping lawsuit b.s. They seem irresponsibly short at this juncture though.

mazag08 said:

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I have not executed any bearish plays. I would LOVE to be bullish. I could also make a bullish case. I just need to see some things verify first. Until then, I'm 60/40 bearish as that shows the cleaner setup and lines up with the trajectory of the markets and indexes over the next couple of weeks.

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We are right on the bottom of the channel we've been in since the end of last year. we're also sitting on top of "0" ATR. I think we're at a decision point and I'm with you'd I'd love to see a return to a bullish nature. My hunch is that we see another retreat from here even if it's just a retest of the low from early last week.

$SNDL

SNDL getting some volume today and is up 10% ($0.74). April 2022 $1 calls are 0.19.

LOYAL AG said:

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mazag08 said:

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I have not executed any bearish plays. I would LOVE to be bullish. I could also make a bullish case. I just need to see some things verify first. Until then, I'm 60/40 bearish as that shows the cleaner setup and lines up with the trajectory of the markets and indexes over the next couple of weeks.

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We are right on the bottom of the channel we've been in since the end of last year. we're also sitting on top of "0" ATR. I think we're at a decision point and I'm with you'd I'd love to see a return to a bullish nature. My hunch is that we see another retreat from here even if it's just a retest of the low from early last week.

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Extend that channel to the right and you could make the case we are waiting the 5th "hit" within the channel which usually coincides with a strong reversal.

And we also could be looking at a strong reversal that started last week. Just so hard to tell. That's why I'm staying put. There's lots of money to be made even if you are a little late to the party.

Double_Bagger said:

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mazag08 said:

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Those of you excited about SAVA. It's floating at a pretty key point here.

You see.. it filled a gap at $67.6 this morning. It had been flirting with that fill for a couple trading days. When a gap gets filled, it rarely immediately bounces back. Usually it looks for the next support or resistance level, in this case, resistance since the gap fill was up.

In this case, it's not quite to a cup fill at $73.75,, but it clearly bounced off something here in the short term. Whether bullish or bearish, it's hard to imagine it going down in the micro count. It really needs something substantive to bounce off of. Then again, it could very well be that once it filled the gap, sentiment cooled off and it's taking a breather along with the overall indexes (which have really slowed here mid day).

So we are at a key level. If it's going up significantly more, it needs to take out $74.35. That's the next substantive resistance level. If it's going to break lower (which is my opinion..potentially down to low 20's before booming back which would line up with both a. my wave count, and b. a bounce off the 610 EMA), then we want it to either start now and take out $38.75 or to bounce off that resistance above at $74.35.

Either way, decision is coming. But it might build slowly before catching you off guard. Know your levels. Also follow news. Bio's can react QUICK when something breaks.

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I think we close that gap between $84 and $118 before we see the $30s again. There's a few news items that could be announced any day now that could force the shorts to cover the 10M shares currently short sold.

1) Announcement of Phase 3 clinicals beginning
2) FDA response to citizens petition
3) Announcement of additional capital investment (Remi hinted at this during the 9-month data presentation). Could be a new investor or another grant from the NIH.

***I'm extremely biased and heavily invested***

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Agreed.

I'd also note there's a gap to fill back on 8/26 up to 70.85. Feels like we at least have a date with that number.

If you're a Fibonacci guy there's a line of significance at 75.26 and another at 88.80 that represents 50% retracement from the six month low and high.

We're also up against a trend line and the 89DEMA on the daily (white line). So I think we'll get a decision on direction this week.

I'm still in the few I bought, I'll ride until I see a reason not to. Thanks for the idea, despite being long SAVA forever, I neglect to make the obvious trades that I never see.

There's gaps both above AND below on SAVA. If there is more significant pullback in the market, you're not going to see SAVA running a huge bull parade against it. That's why I could see it going lower. But if we already saw all the major pullback we're going to get, then yes, the gaps above become the targets.

Edit: This chart was from last week. I merely reposted it. We already took out the first gap above.

0708aggie said:

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Out of 20 FB 10/1 $355 calls. $2.58 to $3.75

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I wanted to get in on the fb excitement this morning with spreads, then decided i could stay more nimble buying straight 367.5 weekly calls at .41. Any the time those filled the rocket got lit and i was in profit-taking territory. Unfortunately that account is in a day trade margin call so i decided to sell 370 weeklies for .42. Voila! Free lotto spreads!

McInnis 03 said:

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I'm still in the few I bought, I'll ride until I see a reason not to. Thanks for the idea, despite being long SAVA forever, I neglect to make the obvious trades that I never see.

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That's one of my favorite things about this group. Someone always posts an idea from an angle I hadn't considered. Happy to return the favor.

I sold weekly C70s against some shares, so it's a guarantee we finish the week north of $70

Anyone that has been long in OKE, it closed the first open gap at $59 today, I took a portion off from my retirement account and will look for second gap fill around $68 to close whole position

Mara rejected the resistance

I have no idea if the following is true. I picked it up on some tweet/reddit/other website. The notation stated if you own a stock that appears to be getting shorted by major players, go ahead and put a GTC sell order in for your shares at an acceptable price to you. The GTC sell order creates a risk to the House holding the shares and makes them think twice about lending the shares out to someone who wants to short. Sounds plausible to me. In my career background, we did things similar to this in commodity markets managing speculator accounts along with our commercial activity. I bring this up regarding SAVA shares. I have GTC sell orders against my SAVA. I'm expecting WWR will undergo something similar later.

$BIG looking good. Reclaiming a bunch of the DEMAS in the past four days and looks to have had a left goal post on 8/27.

Coming up on a trend line and has a gap to fill up to $54.20.

I've heard that before (mostly on twits: "put a high sell order so they can't lend your shares!") and I've heard it refuted. Would be interesting to know the truth. I have a buddy who's brokerage (don't know which) requests permission (and pays interest) for them to lend out his shares, but I've never gotten such an offer.

If you have a sell order on your shares you can't sell covered calls against them, can you?

NRD09 said:

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I've heard that before (mostly on twits: "put a high sell order so they can't lend your shares!") and I've heard it refuted. Would be interesting to know the truth. I have a buddy who's brokerage (don't know which) requests permission (and pays interest) for them to lend out his shares, but I've never gotten such an offer.

If you have a sell order on your shares you can't sell covered calls against them, can you?

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I've never been contacted to lend shares.

Correct, no cover calls on shares committed to GTC sell orders.

NRD09 said:

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I've heard that before (mostly on twits: "put a high sell order so they can't lend your shares!") and I've heard it refuted. Would be interesting to know the truth. I have a buddy who's brokerage (don't know which) requests permission (and pays interest) for them to lend out his shares, but I've never gotten such an offer.

If you have a sell order on your shares you can't sell covered calls against them, can you?

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Fidelity does it through their "Fully Paid Lending" program.. the only position I have eligible for it is WWR and they're offering 2.875%

https://www.fidelity.com/trading/fully-paid-lending

TDA has something similar but I think you have to have a cash account.