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Last: 54 min ago by Dan Scott
I grabbed some BKKT. Hanging out above the 200DEMA and even with the chaos of the last two weeks has been consolidating sideways.
So, what is happening here.
Dump incoming as it is finally realized that you can't dump trillions into the economy and not have inflation?
Dump incoming as it is finally realized that you can't dump trillions into the economy and not have inflation?
Quiet around here today
ANOTHER 1K contract spread on DIS Jan2023, sold the 160p, bought the 135p.
Waiting to see if we bounce here or flush. Goes under 393 again and ~388.30 is on deck on the QQQAgs2013 said:
Quiet around here today
Is this a bullish play? Where is max profit point for a trade like this?McInnis 03 said:
ANOTHER 1K contract spread on DIS Jan2023, sold the 160p, bought the 135p.
Let it ride
Pullish position.ClutchCityAg said:Is this a bullish play? Where is max profit point for a trade like this?McInnis 03 said:
ANOTHER 1K contract spread on DIS Jan2023, sold the 160p, bought the 135p.
They desire the stock to be above 160 in Jan 2023 so both options expire worthless and they keep the ~$14 in premium the collected for the sale of the spreads.
(Risk $25 to make $14 with tons of time)
So instead of selling the 160put straight up, making it a spread reduces the amount of collateral that is tied up for the next 13 months?McInnis 03 said:Pullish position.ClutchCityAg said:Is this a bullish play? Where is max profit point for a trade like this?McInnis 03 said:
ANOTHER 1K contract spread on DIS Jan2023, sold the 160p, bought the 135p.
They desire the stock to be above 160 in Jan 2023 so both options expire worthless and they keep the ~$14 in premium the collected for the sale of the spreads.
(Risk $25 to make $14 with tons of time)
Let it ride
Russell still flushing - brutal
Think they are going to bring it down to 212 area. That's the bottom of the 2021 darvas box.Ags2013 said:
Russell still flushing - brutal
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Seems like a great place to buy dnn
Everybody loves a dirt road
Yes. Buying the lower (protective) strike lowers the buying power hit.
JPow was long puts today, dayum!
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Charismatic Megafauna said:
Bicycle chart was just one week late. Spy 55 day ema appears to be right at 455, I'll go in big if we can tag it
Another leg down and we get another chance at this. Looking for 455.4 now
Everybody loves a dirt road
IWM now down ~11% off high. All bets off as it blasted through the 200 day.
even on stocks you guys are long shares on, do you sell prior to speaking events like this?
211.94 is the bottom of the darvas box from January of this year.Engine10 said:
IWM now down ~11% off high. All bets off as it blasted through the 200 day.
Also see a long term support line at 216.20.
Watching those levels.
Took a loss on a bull put credit spread I had.Engine10 said:
IWM now down ~11% off high. All bets off as it blasted through the 200 day.
Sold it at .10 delta with a 98% change of max profit.
Garbage.
Cut majority of my chode stocks this morn. Buh bye Elox, Clov, SNDL.
Wont touch any of these turds again.
Will prob end up buying more SPR if breaks support.
Wont touch any of these turds again.
Will prob end up buying more SPR if breaks support.
The thing about the stocks like SNDL, CLOV, ELOX, etc. is that they're massive risk plays. OA has hit some of these out of the park, but if you go back and look at his older posts, he has said that a lot of them don't work out. He has the wherewithal and money to pepper a lot of these with stupid money and get a grand slam on occasion. Most of us don't have that ability. If you're trying to grow your account and not get wrecked, stick to companies that at minimum have of a $5B market cap. Mind levels and stops. Don't hold on to losers thinking they'll turn around when they've lost major supports. Don't double down (though I'm still awful at this).
Develop a process and stick to it. Throwing **** against a wall just from following others won't work in the long run.
Develop a process and stick to it. Throwing **** against a wall just from following others won't work in the long run.
This is probably the best advice I have seen on here and I wish I had it six months ago.Irish 2.0 said:
The thing about the stocks like SNDL, CLOV, ELOX, etc. is that they're massive risk plays. OA has hit some of these out of the park, but if you go back and look at his older posts, he has said that a lot of them don't work out. He has the wherewithal and money to pepper a lot of these with stupid money and get a grand slam on occasion. Most of us don't have that ability. If you're trying to grow your account and not get wrecked, stick to companies that at minimum have of a $5B market cap. Mind levels and stops. Don't hold on to losers thinking they'll turn around when they've lost major supports. Don't double down (though I'm still awful at this).
Develop a process and stick to it. Throwing **** against a wall just from following others won't work in the long run.
My strategy of carefully selling puts (start of the wheel) and bull put spreads on $spy yield great results. Only to watch a great deal of my profits evaporate on these crap stocks.
Read this over and over. Most of us don't have the accounts to pepper out risk on these crap companies.
Great post Irish!
Ripster has been all over BCTX. Anyone take a look at it?
Bios are how you get wrecked especially while waiting on a catalyst. The catalyst gets sold off more often than bought.TxAG#2011 said:
Ripster has been all over BCTX. Anyone take a look at it?
You're talking about a $10 stock that is already up 33% in a month
This is speaking from experience when I first started trading.
**** AVEO
My portfolio has taken a pretty huge hit the last serval week but the last two days have the worst. If it is near bottom I will just let some of it ride, at least until the next bump so I can exit. Otherwise I may be bailing on almost everything
speaking of bios be crazy.... ABBV has been flagging for a good bit, trading around the bottom of a channel now. They give a presentation tomorrow and another Thursday. One could play cheap weekly verticals, lotto size. if it pops tomorrow on news, take profits. if not bail before expiration.
I was looking at my portfolio thinking how come I don't own more AAPL. It's because my dumbass bought CLOV in the low 7s after earnings only to get b-slapped with a share issuance, followed by ass raping after because of COVID and Powell.
It hurts
It hurts
UBER flow been massive the last month... These all just came in on top of each other
I was thinking why I didn't buy more than 50 shares of AMD back in August... Or why I didn't put all I was thinking about putting into TTD... oh well, that's what keeps us humble I guess.
Missed the action this AM. Was going to buy QQQ 395p when it bounced off of 400 but got side tracked with work knowing I was going into a big meeting at 10.
Flipped a $390p though for $250 here over lunch.
Flipped a $390p though for $250 here over lunch.
Kudos to Powell... He Clearly Recognized Inflation is the Bigger Problem
We thought when we wrote this morning that Powell would defer to experts on the current Omicron variant, and would be afraid of being between a rock and a hard spot...He did not... He came out blasting on inflation... He said it was time to retire the word transitory, my fist was getting numb from banging on the table that inflation is not transitory....He did not back away from the next Fed meeting about accelerating tightening discussions.... So markets are reacting.
Fed tightening moves for 2022, which had been diminished since Friday from 3 in 2022 to about 1, are back to 2-3 for next year... The yield curve, where 5/30 were out to 72 this morning, is now down to 64... Our chart objective is 56... 5 years are now higher in yield by 10 basis from the low of this morning, 2 years are also 10 higher... The long end is better as the Fed tackling of inflation is done from the short end, to protect the value of the long end.... We just hope that tightening does not invert the yield curve... The economy remains very strong...
Equities do not like an aggressive Fed... As they fear the competition from higher rates... We do not believe that is true... Equities are technically in a poor position, and as we said this morning, early December may be a challenge for equities... We will do corrective analysis later in the day.
The Fed and the front end are still vulnerable to Covid scares, and clearly no one wants a lock down of the economy....
We thought when we wrote this morning that Powell would defer to experts on the current Omicron variant, and would be afraid of being between a rock and a hard spot...He did not... He came out blasting on inflation... He said it was time to retire the word transitory, my fist was getting numb from banging on the table that inflation is not transitory....He did not back away from the next Fed meeting about accelerating tightening discussions.... So markets are reacting.
Fed tightening moves for 2022, which had been diminished since Friday from 3 in 2022 to about 1, are back to 2-3 for next year... The yield curve, where 5/30 were out to 72 this morning, is now down to 64... Our chart objective is 56... 5 years are now higher in yield by 10 basis from the low of this morning, 2 years are also 10 higher... The long end is better as the Fed tackling of inflation is done from the short end, to protect the value of the long end.... We just hope that tightening does not invert the yield curve... The economy remains very strong...
Equities do not like an aggressive Fed... As they fear the competition from higher rates... We do not believe that is true... Equities are technically in a poor position, and as we said this morning, early December may be a challenge for equities... We will do corrective analysis later in the day.
The Fed and the front end are still vulnerable to Covid scares, and clearly no one wants a lock down of the economy....
Today's sell off is more than likely algos selling, initiated by key words in J POW's address. If we're weak into the close I'll be looking for a few SPY calls, but this will be small and a gamble. Do your own DD.
Am I stupid for cutting my losses on CLOV and WWR to take the tax write off?
These seem like dog **** right now.
These seem like dog **** right now.
Buy them back on Jan. 2nd if you want back in.SF2004 said:
Am I stupid for cutting my losses on CLOV and WWR to take the tax write off?
These seem like dog **** right now.
This is only applicable in taxable accounts to don't apply it to tax-deferred accounts.AG 2000' said:Can we talk a bit more about this? First time coming into end of year.ProgN said:
I'm trading SPY because money is flowing into the mega companies. Small caps that are near their 52 wk low usually underperform during this time of year because people sell to offset gains elsewhere. You could probably dump some now and buy them back Jan 2 at near the same price that you sold them. You'd essentially capture the tax loss and still have the same amount of stock, if you wanted to buy it back.
If I go back and look at IWM for the last several years, December looks to be an increase the majority of the time.
But I'm guessing that doesn't necessarily apply to all the individual stocks contained therein?
Definitely looking to do some harvesting, but want to be smart about it.
At the end of the year, you can't really compare IWM to individual stocks. I'll use WWR in this example, but I'm not beating up on it. Let's say you own 2000 shrs of WWR at an average of $10. If you were to sell your position at $3, then you'll have a realized loss of 14K, This loss will offset dollar for dollar against your gains for the year. If you have more in loss, then you can use it to offset $3,000 of ordinary income. Any remaining loss can be carried over into future years.
Now, you have to not buy the stock back until after 30 days or you lose the tax benefit. However, I bet you'll be able to buy those 2000 shares back after 30 days and when their plant comes online, then you can enjoy the ride, but you'll also be able to use that big loss in a positive way for tax purposes.
Disclaimer: I'm not in WWR but if I were, then I'd dump it at $3 and bet I could buy it back at $3 after 30 days.
Hope that helps.
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