Looks like we are going to be testing Mancini's level with authority today. Let's stay above.

H pattern on SPY/QQQ. Big flush may be coming.

Maybe Goldman's getting their wish on lower tech valuations.

Volume flooding in on this last 5 min candle for ES and NQ

Shoo Bear!

Been buying expiring 474 calls all day. Hero or zero i guess

Crwd april calls are free money down here

Should've bought that COST put. Would be a 4-bagger now.

The Model T that OA loves was the secret today. If it had retraced 50% and held on SPY, you would've printed. It rejected that exact point hard every time. Puts print. My NVDA puts are ITM now.

Took CROX 3/18 120C at 18.2. S/L set for 120.5. Swung CROX several times this year and really like this one. I'm playing with profits on this swing

$466.76 is my next leg down on SPY.

Do not like

BaylorSpineGuy said:

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The Model T that OA loves was the secret today. If it had retraced 50% and held on SPY, you would've printed. It rejected that exact point hard every time. Puts print. My NVDA puts are ITM now.

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Were you referring to intraday on SPY and NVDA and just taking initial high low for your model T or were you taking a different timeframe?

Man that was a flush, what the hell sparked that?

gougler08 said:

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Man that was a flush, what the hell sparked that?

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Fed Members won't stop talking...

BrokeAssAggie said:

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$466.76 is my next leg down on SPY.

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Thats mine too. I picked up 467p as insurance.

There goes all my gains this past week

Just on the daily SPY. 472.88 and 469.18 were the hi-low. It came right to that 50% a couple times but could not break it. Every time it tried, it showed a tall wick on the 1 min candles but body of candle always stuck below it or right at it. No was ready to break the trade any minute and nearly did a couple times.

Both trades were based on SPY chart. NVDA chart nearly mimics it perfectly. Lends credence to algos, etc.

The first page of this thread shows that any time a 50% retrace occurs, the pattern is reversed. He alludes that it happens daily very frequently on most charts including ETF's, indexes, etc.

My gut is NVDA retests 260 tomorrow unless a miracle happens later today or overnight. Based on the current charts, my guess is tomorrow is down. Bearish engulfing candle today after a doji/spinning top yesterday.

hedge said:

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Any good long term buys?

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Depends on what your definition of Long Term is...
2-3 months.
Financials, Energy. JPM, CVX. If you want a basket, FAS & OIH.

1-2 Years
Technology - Chips - AMD, NVDA, QCOM, MU, TSM, GFS, etc. Any of Cramer's FAANG stocks.
Other - PEP, DIS, HD, LOW, FDX, UPS (UBER if you want speculative on transportation)

Longest Term
SPY, QQQ, DIA

Good info here.

For what it's worth, I have a trend line down to around $466. 100 EMA is below that but I do not expect us to get there and revisit it so quickly from a few days ago. If we do, expect some serious buying to happen.

hedge said:

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Any good long term buys?

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CROX

Waiting for another buy-in spot on NVDA....got in at 270 earlier this week...was not expecting to re-buy so quickly but might be hard to pass up if 260/250 level....ProgN mentioned 250 in an earlier post...maybe he was right...

Thoughts on buying some long term TQQQ?

Here is a crude chart, but intraday ModelT early on was 471.03 (turquoise line) based on the 2 red circles on the graph (high/low) and what BSG was referring to.

You can see where it chopped around it for a bit before it finally puked.

After 5+ tries to bounce off 4700 zone #ES_F dropped the ball & gets interesting here

4660-50 next down as posted & bulls going to want no lower, then spring back above 4700 by day end today ideally which would be very bullish (holding 50dma). 4650 fails 4606/new lows up next https://t.co/wjsY37OiSt

— Adam Mancini (@AdamMancini4) January 13, 2022

ES could not sustain above 4728 and as said strong resistance 4745 rejection will pull down same happened and targets hit 4706-4682 below 4668-60

Clearly mentioned will get one more long opportunity to gain upside is that clear guys stayed tune for more updates https://t.co/SmoDxmISyk

— PK Day Trading (@PKDayTrading1) January 13, 2022

planoaggie123 said:

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Waiting for another buy-in spot on NVDA....got in at 270 earlier this week...was not expecting to re-buy so quickly but might be hard to pass up if 260/250 level....ProgN mentioned 250 in an earlier post...maybe he was right...

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I'm tempted to get a few 265p for next week since the OPEX downpressure is coming too. Lots of downward pressure right now.

There some money at BBIG. It's the only thing green in my portfolio today.

hedge said:

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Thoughts on buying some long term TQQQ?

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The 10 year performance of QQQ (+22.06%) vs TQQQ (+57.7%). Expense ratio is 0.20% vs 0.95%, but the TQQQ has outperformed so you are paying more to get more.

We have been in a crazy bull market for the most part since March 2009. That is a long run. Common sense would say it would have to end at some point. So, like the upside is higher with the leveraged fund, the downside is lower.

However, these indexes (SPY, QQQ, DJIA) kick out low performers (kind of like we kick low performers out of our own portfolios). So, in theory the downside should be "capped" for lack of a better term.

Thank you for the detailed response. Much appreciated. I'm planning to hold T longterm and not wanting to trade it, so I'll avoid CCs for now.

I think they corrected themselves and said the earliest decision date would be 1/22 and latest would be 2/22. I was thinking of a straddle, but may look into the strangle. Premiums are pretty high if you stretch it past the 2/22 date to hopefully guarantee a decision by expiration.

There's some confusion on it the FDA has 150 or 180 days to respond to the Citizens Petition. I think it's 180, which means you should play February options, but they could respond next week as well.

I have calls expiring next week. If we don't get a response by then, I'll reload with February options.

SPY trying to break through $469, see if it's rejected

Looks good for a break up here.

Sounds like they need an alternative like…oh I dunno, crypto? $HMBL