AG 2000' said:

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SAVA running AH. Shorts covering?

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I think they would cover during the cash session for more liquidity (price moves less per volume of shares they buy back). I think we saw shorts start covering this morning but then reshort when major buying volume didn't flood in. Would have been nice for this release to have happened during a nice green day. I think it'll take more time to digest this do to Fed and macros going crazy. I think we'll see buying pick up tomorrow or next week. I'm not sure how high we'd go just based on this announcement. If we get above $85 next week that would be excellent.

Dan Scott said:

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Kinda feel like 2 weeks ago. It was a Thursday where the market again rejected SPY 458 after gapping down and rallying. We broke down below 450. Friday was a down day, and then we remember what happened the following Monday,

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If we break below the 200-day on SPX again I think we'll go quite a ways further down this time. We'll see.

per mancini we are just in the chop zone really

Despite headline hysteria last 2 weeks were ultimately just rangebound between 4580 & 4475-55. Only way to trade these ranges is level to level, managing risk at each until the range clears out and we trend. Often I will keep a small trailing position to front run a breakout https://t.co/oBJm8sTGZR

— Adam Mancini (@AdamMancini4) February 10, 2022

Bonfire1996 said:

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I'm still bullish on tech, and am focusing on highly profitable companies with great balance sheets.

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This has been my approach over the last few weeks. I'm focused on the one's I've posted here since the beginning of the year.

Market was overcooked short term yesterday with three days of run up. That alone pointed to a pull back/consolidation in a healthy market.

Also, going up on low volume.

Add CPI numbers and this had no where to go but down.

Yet there where still people all over the place thinking it would "continue the next leg up" based on some lines on a chart.

Based on what I learned here of "high probability" setups… being bullish today wasn't one of them.

Congrats! Watch for another capitulation event that could extend below previous lows. I'd trade it for the band move back above and sell 80%, holding only 20% with a immediate stop if it comes back.

Almost always get that recovery move back above previous lows. And then its ??

— NIL Participant - Sorry Kiffin (@oldarmy1) February 11, 2022

SF2004 said:

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Market was overcooked short term yesterday with three days of run up. That alone pointed to a pull back/consolidation in a healthy market.

Also, going up on low volume.

Add CPI numbers and this had no where to go but down.

Yet there where still people all over the place thinking it would "continue the next leg up" based on some lines on a chart.

Based on what I learned here of "high probability" setups… being bullish today wasn't one of them.

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I'll give you credit, I thought you were wrong yesterday. The buying volume yesterday was nuts. I was willing to bet the bottom was in and tech seasonal rippy was here. A little bounce tomorrow to play some puts would be nice.

Regardless, no overnight holds for me!

Just checked if the Q lottos calls still had a chance.

If we get any move up I'll exit at the yellow SR level no matter what.

ProgN said:

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BREwmaster said:

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SF2004 said:

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Market was overcooked short term yesterday with three days of run up. That alone pointed to a pull back/consolidation in a healthy market.

Also, going up on low volume.

Add CPI numbers and this had no where to go but down.

Yet there where still people all over the place thinking it would "continue the next leg up" based on some lines on a chart.

Based on what I learned here of "high probability" setups… being bullish today wasn't one of them.

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I'll give you credit, I thought you were wrong yesterday. The buying volume yesterday was nuts. I was willing to bet the bottom was in and tech seasonal rippy was here. A little bounce tomorrow to play some puts would be nice.

Regardless, no overnight holds for me!

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The market was already expecting crappy numbers. Indices went positive after the opening drop. Bullard's idiotic comment about 100 bps triggered algos to dump. If he'd have said that the Fed needed to take a more aggressive approach to inflation instead of "100 bps by July", I don't think we'd have had the puke we had today.

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Tough trading these days. Feels' like a daily tight rope walk for a while now. Hard to be confident in a direction IMO. I'm trading vs investing which is hard when you can't baby sit. At least for me anyway.

sts7049 said:

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per mancini we are just in the chop zone really

Despite headline hysteria last 2 weeks were ultimately just rangebound between 4580 & 4475-55. Only way to trade these ranges is level to level, managing risk at each until the range clears out and we trend. Often I will keep a small trailing position to front run a breakout https://t.co/oBJm8sTGZR

— Adam Mancini (@AdamMancini4) February 10, 2022

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Are we doom and gloom or we staying in this chop zone?

Monday will be fun, be hedged if you need it.

Government in the Sunshine Meeting Notice
Advanced Notice of a Meeting under Expedited Procedures
It is anticipated that the closed meeting of the Board of Governors of the Federal Reserve System at 11:30 a.m. on Monday, February 14, 2022, will be held under expedited procedures, as set forth in section 261b.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th Street and C Streets, N.W., Washington, D.C.. The following items of official Board business are tentatively scheduled to be considered at that meeting.
Meeting Date: Monday, February 14, 2022
Matter(s) to be Considered:


Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks.
A final announcement of matters considered under expedited procedures will be available in the Board's Freedom of Information and Public Affairs Offices and on the Board's Web site following the closed meeting.

I think chop zone - a volatile chop zone, JMO.

lobwedgephil said:

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Monday will be fun, be hedged if you need it.

Government in the Sunshine Meeting Notice
Advanced Notice of a Meeting under Expedited Procedures
It is anticipated that the closed meeting of the Board of Governors of the Federal Reserve System at 11:30 a.m. on Monday, February 14, 2022, will be held under expedited procedures, as set forth in section 261b.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th Street and C Streets, N.W., Washington, D.C.. The following items of official Board business are tentatively scheduled to be considered at that meeting.
Meeting Date: Monday, February 14, 2022
Matter(s) to be Considered:


Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks.
A final announcement of matters considered under expedited procedures will be available in the Board's Freedom of Information and Public Affairs Offices and on the Board's Web site following the closed meeting.

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An emergency meeting on Monday. Maybe some truth to the rumors of surprise rate hike

Dan Scott said:

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lobwedgephil said:

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Monday will be fun, be hedged if you need it.

Government in the Sunshine Meeting Notice
Advanced Notice of a Meeting under Expedited Procedures
It is anticipated that the closed meeting of the Board of Governors of the Federal Reserve System at 11:30 a.m. on Monday, February 14, 2022, will be held under expedited procedures, as set forth in section 261b.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th Street and C Streets, N.W., Washington, D.C.. The following items of official Board business are tentatively scheduled to be considered at that meeting.
Meeting Date: Monday, February 14, 2022
Matter(s) to be Considered:


Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks.
A final announcement of matters considered under expedited procedures will be available in the Board's Freedom of Information and Public Affairs Offices and on the Board's Web site following the closed meeting.

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An emergency meeting on Monday. Maybe some truth to the rumors of surprise rate hike

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Looking for into it, the language is the same and they have these meetings every few weeks. So probably nothing, but something to be aware of on Monday as a possibility.

I think it will be to make it clear to all states that covid is over. They are backed into a corner here and the only play is to loose the noose a bit and let the economy recover while they raise rates. I think that's their move.

Some WSB guy has 30 mil in SAVA
https://www.reddit.com/r/wallstreetbets/comments/spfed0/largest_bet_in_wsb_history_sava_3012196439/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

Damnit, nevermind.

ProgN said:

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Morning gang

Everyone get some coffee, stick a pin in your Bullard voodoo doll and let's get the day started.

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Mornun Prog!

Mornun gents !

Well…..we shall see.

US red
EU red
Asia mixed
VIX wants 25

Be nimble and let the tape do the talking.

Trade wisely!

Just a couple comments here about RGS. Admission:bag holder here since 3.76.

It looks like it has made a Diamond bottom and has rallied out of it. In the past week, twice it has rejected the 1.80 line hard with tall wick candles.

Wasn't someone here saying about knocking on a door three times? If it comes looking for 1.80 again (and it's showing relative strength against SPX/NDX, etc. over last week or so), then going long above 1.80 may not be a horrible idea.

There is a H&S pattern on VIX premarket. I think I read on here one day that it means nothing on VIX. Can anyone confirm. No corresponding inverse H&S on SPY or QQQs so I think I know the answer but looking for confirmation.

30k: you got any ostk in the 50k account yet?