ELOX testing 1.17 support and looking heavy.

I'm really watching ALRM.

It's sitting on the 50% retracement of it's move up above $90 from it's low of $75. If it starts to bounce up here, then I'll be watching carefully for a micro wave 1 and 2 setup and then eyeing $95 or $100 calls. Only problem is, I don't want Decembers and January hasn't been released yet.

Watching closely though. Put it on your radars.

Last post and then I have to work some.

I really want to see some more weakness in REI, ideally down to $2.30. That would set up a clean wave structure that would likely rip to $5.00 and ultimately over $6 (ideally in the next couple of months). It would also provide a clean new entry territory to make max gain.

So if you are in it and it keeps going down, don't freak. It's in an overlapping state similar to DNN but i setting up nicely. I'll be using any weakness as a chance to buy more shares.

mazag08 said:

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Aggie118 said:

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Is now a good time to hop on Prog?

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It's actually tough to tell.

From my EW point of view, it's hairy. On the 1D candle chart, it looks to have just topped off in a 5th wave (that point becomes our larger degree wave (1) going up significantly higher into the future for another 5 waves). So we could expect a 50-61% retrace from today's high.

But what's tricky is that if you look at the hourly chart, there's a huge wick that got up to nearly $6.50 a couple weeks ago. And if you retrace that move from the bottom to 61%, you get where we bottomed late last week in the high $2's. So in that case, it could be argued that we already completed 5 waves up and formed our larger degree Wave (1), bottomed in our larger degree Wave (2), and today's action is actually the highly impulsive Wave (3).

But either way, today's move needs to retrace. If it gets down to the high $3's and reverses back upward, then we're likely in the larger degree Wave 3 still taking us to $9.00 sooner rather than later. If that move retraces into the low $3's or high $2's, then we are bottoming in the larger degree Wave (2) and about to start the ultra rippy Wave (3) taking us to $8 over a month or two. And if it resumes it's rip today and gets above $5.90, then something else is going on (but I would still expect a sizeable pullback).


Long story short, wait.

You will likely be able to get back in around the high $3's if not lower.

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Thanks!

Anyone thinking on playing options on RIVN. I want to go long for a long term hold on this but my target entry was left in the dust as RIVN exploded. So selling puts would be my approach.

CIDM looks like it could be trying to put in a bottom here on the 5 minute



PSYCH!!!

$30,000 Millionaire said:

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CincySwimmer said:

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$30,000 Millionaire said:

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I can't believe I'm going to get to sell puts in CLOV tomorrow.

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I'm in. What are you gonna target? Dec 17 7.5p's?

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I don't know yet, want to see pricing tomorrow.

I'm guessing that the Dec 7.5P will probably trade for about $1. I think I'd be willing to take those. If the 6P gets north of $0.50, I think I would be more inclined to trade that with larger size. Remember, this is a viable business.

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Honestly, none of the clov puts seem appealing to me.

AAPL

zwhag2010 said:

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Anyone thinking on playing options on RIVN. I want to go long for a long term hold on this but my target entry was left in the dust as RIVN exploded. So selling puts would be my approach.

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I think you need to assess your objective on this.

Selling puts would probably be the play but who knows on strike.

For perspective:

Jumped into VEON shares - thanks for the call outs on this one!

Slappy007 said:

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Slappy007 said:

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Ranger222 said:

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really really liking SNOW here....if the overall market can churn higher from here I think it'll take off and be a leader.

Was looking at OI....I'm thinking DEC 400 Cs could be a fun way to play with time

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This looks great.

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Nice call Ranger! $400 hit, and the options are 5baggers.

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Ranger should be posting these in all bold, haha! killing it!

AG 2000' said:

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Entered 11/17 VIX 16Cs.

Think we're bottomed.

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Stopped out on this. Heh.

cptthunder said:

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CIDM looks like it could be trying to put in a bottom here on the 5 minute



PSYCH!!!

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Was just going to ask if good time to get in on CIDM.

agdaddy04 said:

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cptthunder said:

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CIDM looks like it could be trying to put in a bottom here on the 5 minute



PSYCH!!!

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Was just going to ask if good time to get in on CIDM.

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I added a small aount at 1.80 and waiting to see if it pushed down to the 200 EMA

That's what I just did as well.

What's going on with $JMIA? Any news?

$AAPL https://t.co/DQOoCugcyD

— Oracle (@OracleNYSE) November 16, 2021

https://techcrunch.com/2021/11/16/jumia-posts-revenue-and-order-gains-but-compounding-losses-drag-its-stock-lower/

Thank you

Mazag what does your EW analysis say for BROS? It has taken a beating this month. Thank you.

Yep, unfortunately I'm in way too deep - most likely going to dump it in December to write off the loss.

Got into GGPI yesterday. Those comps look good.

do you always set stops?

Damn...LCID is smoking! Sold CCs too early in the day, but come tak'em baby!

agdaddy04 said:

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That's what I just did as well.

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Decent volume trying to bounce @ $1.60

What's got into NMG this morning?

The CIDM sell off seems aggressive

agdaddy04 said:

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What's got into NMG this morning?

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Lets hope its a cup completion at the $9.50 gap fill followed by some consolidation and then rocket in a few days/weeks