We're at the top of resistance pivot on S&P. Need clear breakthrough to upside to signal the bottom is in. Clear reversal and things open up again to the downside.

NRD09 said:

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BREwmaster said:

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DIS trade...
trade the channel it's in now. look at an hourly chart and it's down near the bottom of this channel going back to Sept 21st.

calls: Nov 19 180C's were trading around 1.8 I think.
or go verticals like me

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I got a couple oct 29 175/180s filled at .75

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here's our channel... a beauty so far: The bottom is around 169 and the top is roughly 179.

Man am I glad with my big bet on ROKU. It was easy money at $300.

EBON, MGTI, RIOT, SOS, DPW

Aren't these supposed to start seriously moving with Bitcoin back above 60K. I get they all bullcrap but that didn't stop them before. Is MARA the only legitmiate miner out there?

One of the bitcoin futures etfs that comes out tomorrow....

$BTFD

SERIOUSLY LOL

redneckag said:

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Interesting article in the Daily Mail, claiming we may already be in a recession.

https://www.dailymail.co.uk/news/article-10103413/US-recession-bad-2008-paper-warns.html

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We are seeing the very beginning of what will be worse than a recession. Unemployment is going to increase, and inflation is only going to get worse. We are entering a period of stagflation and combined with the fed removing the stimulus, it's not good for the economy or stocks. No one knows the day, but the reckoning is close. My advice is to trade the wave, but be mentally prepared to liquidate because cash will be a favorable position. The dumbasses running the government don't have a ****ing clue or concern about the tempest they are fueling. Selling positions at a loss when it starts beats the hell out of riding positions down because you don't want to book a loss. Everyone needs to ask themselves, as well as their spouses, if you're ready to do that.

I am going to say this again:

The market has left some decent sized gaps below that are not filled yet and there is a volume divergence. We are also a long way from the 8 and 21 EMAs.

It may keep going up or consolidate to letting moving averages catch up. It could also roll over. Tread lightly. Obviously, I will have no bearish view above 4549.

Missed all yalls fun today.

Mr. Johnsongrass
If you haven't started chasing the wife around the house yet have you heard anything about the group of ranchers who supposedly raised 300 million to start their own processing plant? Wondering what kind of impact this could have on the major processors if true? You seemed pretty well tied into that realm
I think it was McInnis who I saw on the Twitter world bring it up

I picked the wrong couple of weeks to get busy and miss the TSLA fun. Holy wow!

Someone has placed a massive gorilla and a lot of bananas in front of the Wall Street bull.

We live in wild times. pic.twitter.com/b7B4h1kUFV

— Pomp 🌪 (@APompliano) October 18, 2021

Tomas Hermensa said:

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If that's your expectation then where are you planning to put money? Risk losing value to inflation by going all cash? Real estate and hope there's not a bubble? Metals? Load it all into SAVA shares and set an alert for $200?

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IMO, the market will be one of the only places to grow your wealth and stay ahead of inflation. The market is also liquid, you don't have to go the closing like you do for real estate. This works to your advantage for capitalizing on opportunities. For myself, my plan is to look for opportunities that fit my criteria and get in and out, with the exception of $TTD because that's my plant and forget stock. If we enter a prolonged period of stagflation, which I believe we will, pick your entry and exit prices. Growing your accounts, especially in IRAs, via hitting singles is the approach I'll be using.

cptthunder said:

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Mr. Johnsongrass
If you haven't started chasing the wife around the house yet have you heard anything about the group of ranchers who supposedly raised 300 million to start their own processing plant? Wondering what kind of impact this could have on the major processors if true? You seemed pretty well tied into that realm
I think it was McInnis who I saw on the Twitter world bring it up

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Had a 70 degree day today and tomorrow. Pleasant surprise. I thought 70's were over. Freeze on Thursday and Friday. Away from my screen doing outside stuff.

Wall of words.

Yes. I heard about this. USDA is appropriating funds for many to start small processing and butcher shops as well as this $300 million venture. I forget the amount of USDA funding but it's large - in billions. I don't have an answer to solve this problem about the disparity in margin between the cattlemen and the packer. And, I certainly don't believe in Govt control or more laws/rules. My take on the packer/mini butcher/meat shops, USDA thinks this will help resolve the margin issue and keep cattlemen viable, increased competition. These are taxpayer dollars being thrown at the problem. The small butcher shops that spring up in rural areas are not good supply options for the demand centers of large cities. Scale is too small and trying to get a small shop's meat into a Walmart, forget it. City folk don't want to drive 20 miles to the country to find a small meat shop to save $20 when they spend $20 to find the place. It's a quaint trip into the hinterlands, but not something the city folk want to do with the same regularity as their trips to the grocery store nearby. City folk aren't going to buy a small freezer and pack away beef. USDA tried a similar type of program in the mid to late 70's - get small butcher shops started. I had acquaintances and relatives get in the small butcher shop business until USDA Meat Inspection shut most of them down. Since I don't have an answer and I'm not crazy about the current USDA proposal, I'm not sure what the true answer is. I do want these ranchers to survive. If the packer wants to crush a small guy shop, they can. If these guys hold out and hold tight, they could establish themselves in the IGA's (Independent Grocer's Assn of the U.S.) but it's very tough to succeed. Try to get into Walmart, nope. The rigid requirements Walmart puts on suppliers, I'm afraid small start up's cannot meet those standards, unless they can cut a deal at a Regional level. You can buy Slovacek's Sausage in a Central TX Walmart, but not here on the Plains; hence, a Regional deal. -(In the company I worked for, Walmart never showed me a Regional deal. It was National or nothing. That's a whole other story.)- It will take more than passion and love of the outdoor farm & ranch lifestyle to be successful in the meat business. It may have been cheaper for these guys to buy an existing operation versus green/brown fielding. There is another approach too, but it's ballzy as heck. Most large packers have gone away from owning feedyards (their raw material supply) and that risk is handled by independent feedyards. These feedyard guys could put the packer in a squeeze and cut off the supply once supply agreements expire, but the feedyard better have a place to process the cattle if they're going to cut a packer off from supply from getting a bluff called. That is an ultimate move to increase the margin as a cattle producer, but it's risky as hell and they all know it. Feedyards could lose their business overnite.

In the 90's, the old Shamrock processing facility south of Los Angeles was saved by a few ranchers. It was either sell your cows to one or two bids in the cattle market and go broke or find another path. These guys bought the packing house and started their own brand "All Natural". This was the first "All Natural", no antibiotics or hormones, beef produce in the U.S. It was uphill all the way for these guys but they did achieve success...until the labeling of "All Natural" got *******ized by the meat industry. These small guys fought for standards to be initiated by USDA and FDA for "All Natural" and save the brand, but FDA wouldn't touch it and USDA drug their feet. That's why "All Natural" brand got diluted for a long time and the marketing aspect lost luster when the "ideals" started getting spun/spin by the large packers. .... Did I mention earlier that a large packer can crush a small packer?.... Large packers were not going to be denied a slice of a premium market space regardless of who pioneered it. Large packers will either take the space or dilute the crap out of it as they have nothing to lose. The Large Packers weren't getting any of the premium price in the first place, so destroy that market and kill off your competition(ranchers). It's kind of like the battle Elon Musk faced going up against Detroit.

I do hope the cattlemen succeed. It is beyond time. Usually, success can breed other problems in a cooperative type business of farmers and ranchers. However, I do hope they can pull it off. I can tell you this much, the Large Packers will be watching these guys like a hawk.