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25,131,043 Views | 233848 Replies | Last: 2 hrs ago by $30,000 Millionaire
gougler08
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Mr. Lahey said:

EBON up 36% at the close of AH if anyone else is still bag holding this POS with me.


What's the news? And yes it would be nice to have a big run up here to dump this POS
Mr. Lahey
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I've found a few sketchy articles on Twitter about China reversing its mining ban. Nothing from a reputable source though.
Red Pear Luke (BCS)
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Sponsor
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https://finance.yahoo.com/news/elon-musk-fortune-surges-29-181243850.html

Elon is worth $288B after today.
$30,000 Millionaire
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Thundergon said:

So SPX going straight to 4600 from here?
Seems like it. This is one of the most insane things I've seen.
gigemJTH12
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Dan Scott said:

OCGN continues running to new after-hours high after decent pull-back. Beastin right now

27% Short

High Short Interest Stocks


38% now AH
Dan Scott
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EQOS, EBON, CCNC, SOS looking like they want back from the dead
Brewmaster
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$30,000 Millionaire said:

Thundergon said:

So SPX going straight to 4600 from here?
Seems like it. This is one of the most insane things I've seen.
feels like a blow off top, but what do I know! we could be at 5000 before long.
BaylorSpineGuy
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I am interested to see some of the results of the microchip companies this week.

One of my patients works at Mouser (enormous chip and electornics distribution company), and she said this is absolutely their busiest time of year, October - December. She said they have almost no business right now (not sure if that's because all their chips are stuck at port or what), but I am interested if that's gonna be reflected in Q3 numbers or will come to fruition next quarter.

The mania we all felt throughout the summer seems to be back now. Kind of a wild emotion.

Congrats to all who made out like bandits today. My portfolio also was green mostly on long holds. Not trading options much right now.

And the big surprise today RGS with a big positive today on decent volume. Maybe time for a run?
mazag08
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$30,000 Millionaire said:

Thundergon said:

So SPX going straight to 4600 from here?
Seems like it. This is one of the most insane things I've seen.
4605.

It's the 123% extension of the 3rd wave that topped off on Sep 2 AND the 123% extension if you measure the high and low of the Sep/Oct correction.

In other words, Sep through October was the "a" wave of the correction (an impulsive move down), the last couple of weeks have been the "b" wave (a correction to the upside that is taking out new highs because the 3rd wave didn't quite get to it's 123% level), and what comes next is the "c" wave (an impulsive wave down to either match the "a" wave or create a new low).

This has happened before. Go back to Q3 2018. We top off at 2940 after a decade of imnpulsive bull market and enter a small correction. Then we rebound for a short period to new highs, only to hit COVID in March of 2020. The market was dying for a reason to finish that correction and it latched onto COVID like a baby on a teet.

This isn't that kind of severe drop, but I do think we have lower to go. Look at all of the indexes and a lot of the big players. When do you see so many gaps to the (reasonably reachable) downside that don't get targeted before the market takes off again?
mazag08
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BREwmaster said:

$30,000 Millionaire said:

Thundergon said:

So SPX going straight to 4600 from here?
Seems like it. This is one of the most insane things I've seen.
feels like a blow off top, but what do I know! we could be at 5000 before long.
Early to mid next year to be exact.
sts7049
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PROG is off to the races this morning
BrokeAssAggie
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CrazyRichAggie said:

Triple_Bagger said:

This volatility in PROG should increase option prices. Buy-writes might be attractive if it dips.
I picked up a few 11/19 $5 calls just in case this thing really pops.


These should look good on the open today.
Triple_Bagger
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Good play. I wanted the 11/19 C3 for 0.50 but never got a fill. Hoping I can roll my CCs out to December for a decent credit.
BTFD
BrokeAssAggie
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Already coming back down into the $4s. PROG is heavily shorted so hopefully the squeeze has just started.
cgh1999
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CrazyRichAggie said:

Already coming back down into the $4s. PROG is heavily shorted so hopefully the squeeze has just started.

Gives me a chance to buy back my covered calls. And add some shares.
gougler08
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My Jan $5 calls should look nice today, probably will sell all but a couple runners
Triple_Bagger
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DKNG jumped 12% on this news.


BTFD
gougler08
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gougler08 said:

My Jan $5 calls should look nice today, probably will sell all but a couple runners
Or not, that surge has been given up quickly
sts7049
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Triple_Bagger said:

DKNG jumped 12% on this news.



good news for my dec 55 calls
RenoAg
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OCGN up significantly overnight. OA tweeted out a options play on it a few days ago.
BrokeAssAggie
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gougler08 said:

gougler08 said:

My Jan $5 calls should look nice today, probably will sell all but a couple runners
Or not, that surge has been given up quickly


I think it's just getting started. Over 30MM in volume and we still have 75 minutes before the bell rings.
Maximus_Meridius
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From Benzinga:

Quote:

Progenity (PROG) cuts outstanding debt by $20.175 Million through private exchange of its 7.25% convertible senior notes due 2025 for common stock
MOCO9
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CrazyRichAggie said:

gougler08 said:

gougler08 said:

My Jan $5 calls should look nice today, probably will sell all but a couple runners
Or not, that surge has been given up quickly


I think it's just getting started. Over 30MM in volume and we still have 75 minutes before the bell rings.


Yep, seems to be ticking back up now…
austinAG90
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Tuesday Macros

Risk On...S+P Futures At New Record... Bonds Bull Flattening...

We are seeing a Global Risk on Trade... US Equity futures are setting records and European Equities are up close to 1%... What happened to soaring energy costs and inflation?...Even Greenspan was interviewed saying that inflation is well above the Fed estimate...Bloomberg intelligence put out a report that INFLATION WILL TOP 3% THROUGH 2024... Elon Musk, the wealthiest human, is now worth more than the total market value of Exxon....and it keeps going... Tapering next week, and expected rate increases in 2022 is not stopping the bandwagon... We got our 5% correction, and we got to our objective of 1.25% 5 years... So now what? Too much money chasing yield and opportunity... Surprisingly no one is talking about the scenario that is playing out in DC... Who would have thought that the Trump corporate tax cut to 21% in 2017, would make it through unscathed?... That 25% lower than expected tax projection from 28% that Biden proposed looks to be dead in the water...even 25% no longer looks likely... We think that part of the soaring equity market is that analysts are starting to build in the 21% tax rate from the proposed 28%... That is a lot of value to the equity market when you propose that extra cash flow into earnings at 22 P/E..

Overnight we have seen two block buyers in the long end of the treasury market... We have seen this scenario before, we hit an exhaustion back up in rates of 1.25% 5 years and 1.70 10 years... And then the momentum stops... Shorts end up having to cover ... And now we are at 1.62 10 years.. 1.60 is no longer the next resistance, probably more like 1.58... We do think higher rates resume after the Fed meeting next Wednesday... It usually takes about 18 hours to see the move start after the Powell Presser... Add in a much higher than expected payroll report a week from Friday and we can see new high yields in treasuries.

Corporate demand remains strong, with only 4.5 billion yesterday. But the bigger news is that the HY market has set a record for size...according to our friends at the FT, new companies raising debt have swelled US JUNK BOND SIZE MARKET TO A RECORD... OVER 1.5 TRILLION WITH OVER 150 ISSUERS BORROWING THIS YEAR... The demand is there and the amount of money floating in the system is massive with M2 now over 21 Trillion...Mortgage spreads tightened two basis yesterday to 68, using the 5/10 blend....

China... Yellen and Vice Chair Liu had a call yesterday that was reported as " pragmatic, candid, and constructive" by the Chinese... PBOC opened the spigots with 200 billion yuan injections, the second day of large injections... Meanwhile Chinese authorities continue to soften their regulatory, financial leverage and fiscal tightening... But power shortages still loom... And another Chinese company missed a payment...but the Chinese are pressuring companies to pay their dollar debt.

Oil... Larry Fink said overnight from a conference, that there is a high probability that crude prices would hit 100 dollars a barrel, as the pressure against fossil fuels accelerates... Steve Schwartzman says the energy squeeze will trigger unrest ... Not a good sign, meanwhile we see that Pioneer Natural liquidated hedges on 28,000 barrels of crude, about 8% of their production, as they think prices are going much higher...

Inflation is there and not going away... The Fed will taper and raise rates... Equities will adjust... But not today... But there is a Bloomberg story with the headline "BOND MARKET CRASH WILL SURPRISE ONLY THE UNIFORMED"...WE DISAGREE, but nonetheless, enjoy the risk on trade for now...
Red Rover
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For those in $SAVA, this looks good. Citizens Petition now asking for FDA approval?

Bonfire1996
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Like I said months ago, the chasing of yield in American based assets will keep our long term rates depressed. Too much demand.

For the US long term rates to increase tangibly, the rest of the developed world will have to raise rates too. Are they?

I do look for people to start shifting their treasury buying to Russia who is at 7.5%!!
Brian Earl Spilner
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GOOG moving nicely pre.
BrokeAssAggie
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probably a dumb question but how does option pricing move pre market?
Red Rover
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Not on any platform I've used. You can't trade options in extended hours, but there may be somewhere that tracks bid/ask prices.
BrokeAssAggie
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Red Rover said:

Not on any platform I've used. You can't trade options in extended hours, but there may be somewhere that tracks bid/ask prices.
Yeah I know you can't trade most options AH, I think SPY, QQQ, etc. you can up until 15 minutes after close, but I am looking at the Market price for my PROG options move as I type. How is that possible? Maybe it's people putting in orders and the bid price is going up?
Maximus_Meridius
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I think if PROG can get past 4.08 or so, it's got room to run up to $5.

will25u
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$DWAC surging again after this message from DJT.

Red Rover
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CrazyRichAggie said:

Red Rover said:

Not on any platform I've used. You can't trade options in extended hours, but there may be somewhere that tracks bid/ask prices.
Yeah I know you can't trade most options AH, I think SPY, QQQ, etc. you can up until 15 minutes after close, but I am looking at the Market price for my PROG options move as I type. How is that possible? Maybe it's people putting in orders and the bid price is going up?

ATP doesn't show option prices moving even on a stock that's making huge moves with big volume. What platform are you on?
BrokeAssAggie
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Over 50MM in volume and still 30 minutes before the open. It's going to be fun today.
Triple_Bagger
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PROG was over $5 premarket
BTFD
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