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BaylorSpineGuy
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In reply to FTAG 2000 • 3:10p, 3/8/22
But the charts are looking toppy since last fall. The ATH was in early November. This isn't a recent development.

Folks at the banks are smart. They move the markets. They had plenty of time to hedge assets against Russian misery.
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cptthunder
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In reply to BaylorSpineGuy • 3:16p, 3/8/22
There is a big one at $105.10 and thats about another ~20% drop from here
If that gets filled there is some serious pain going on.....
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$30,000 Millionaire
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3:17p, 3/8/22
AG
This was a terrible close for bulls.
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cptthunder
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In reply to BaylorSpineGuy • 3:20p, 3/8/22
BaylorSpineGuy said:
On a side note, I had lunch with our hospital CEO today, and our hospital officially has zero COVID patients for first time in nearly 2 calendar years! In honesty, this should be a celebration around the world (as I'm sure many other hospitals are experiencing the same joy!), but the reality is that the world economy is in tatters and there is seemingly little hope for financial security or a hedge from dooming inflation. A rather sad day despite such an amazing leap of progress!
That is awesome news to hear
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BaylorSpineGuy
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3:24p, 3/8/22
5 yr SPY chart. 350 DMA in red. We closed below 350 DMA today. Death cross 2 days ago on SPY. Who on earth is buying dip here? I like trading levels like the experts on here and appreciate all the insight provided. But must be careful not to get burned.

Government infused massive trillions of dollars into this economy and it may take a long time for it to come back around. I don't think the pain is over yet.
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$30,000 Millionaire
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3:24p, 3/8/22
AG
Well, it's always good when you have a Green Day on a red day.
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Charismatic Megafauna
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In reply to BaylorSpineGuy • 3:34p, 3/8/22
AG
BaylorSpineGuy said:
Who on earth is buying dip here?

Sooo i take it you will not be accompanying me to Valhalla?
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BaylorSpineGuy
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In reply to Charismatic Megafauna • 3:36p, 3/8/22
Doesn't that mean hell? Lol

Or maybe Valhalla is the nickname for COVID lows :-)
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Charismatic Megafauna
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3:38p, 3/8/22
AG
Look at that, we tagged the 377 (fib #) day simple on 2/24 and bounced $18. Maybe we can do it again tomorrow!
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Charismatic Megafauna
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In reply to BaylorSpineGuy • 3:43p, 3/8/22
AG
Nah it's like Viking heaven...kinda. It's warm and you spend all day err day doing battle alongside your fallen brothers who were also fortunate enough to make it to Valhalla with you, party all night then get up in the morning and do it again
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BaylorSpineGuy
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In reply to Charismatic Megafauna • 3:49p, 3/8/22
Sounds like the opposite of neurosurgery residency. Where you are all alone and spend overwhelming majority of 20s and 30s chasing a dream that just results in more work later. Haha such is my fate. I'd do it again every day too!! :-))
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mazag08
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In reply to BaylorSpineGuy • 3:52p, 3/8/22
AG
BaylorSpineGuy said:
5 yr SPY chart. 350 DMA in red. We closed below 350 DMA today. Death cross 2 days ago on SPY. Who on earth is buying dip here? I like trading levels like the experts on here and appreciate all the insight provided. But must be careful not to get burned.

Government infused massive trillions of dollars into this economy and it may take a long time for it to come back around. I don't think the pain is over yet.


What is the relevance of 350 DMA?
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Charismatic Megafauna
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In reply to BaylorSpineGuy • 3:54p, 3/8/22
AG
Nope sounds very similar to me. Make sacrifices and work very hard early on so that you can be a hero for the rest of eternity.
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BaylorSpineGuy
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In reply to Charismatic Megafauna • 4:00p, 3/8/22
Now that's a Valhalla I can ride to! :-).

As for 350 DMA, it's close to 50wk DMA. I look at 50-, 100-, 200, and 350 the most.
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TheVarian
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4:01p, 3/8/22
AG
Whelp, this has been a painful few days
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wanderer
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In reply to BaylorSpineGuy • 4:05p, 3/8/22
BaylorSpineGuy said:
As for 350 DMA, it's close to 50wk DMA.
Can't help but laugh at this. Close to the 50wk DMA? What's the significance in that?

**Also, 350days / 5days/wk = 70wk
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FTAG 2000
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4:08p, 3/8/22
AG
Leave it to the brain surgeon to come up with a new trading strategy.
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Brewmaster
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In reply to Ragoo • 4:26p, 3/8/22
AG
Ragoo said:
Did everyone else load up on more Mara this morning?
waiting for it to close that gap to $7

LOL, totally trolling you, but it does look like an inverse C&H going back to early February.

are you anticipating good news on crypto from WH admin?
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Engine10
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4:40p, 3/8/22
AG
You guys wanna see a dead body?
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Bob Knights Paper Hands
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4:40p, 3/8/22
I'm really going to have to be quicker on the stops with near-term options. These reversals are nuts the last couple of days. I did some good things, but my last couple TSLA trades before lunch tilted me. I just had to shut down the laptop. Tomorrow I'll build my account back better.
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BaylorSpineGuy
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In reply to wanderer • 4:42p, 3/8/22
I trade on weekends ;-). A close friend of mine who is very successful trader also follows it.
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FTAG 2000
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4:47p, 3/8/22
AG
The Apple news fade is real.

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Bonfire97
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5:09p, 3/8/22
AG
Quote:
Government infused massive trillions of dollars into this economy and it may take a long time for it to come back around. I don't think the pain is over yet.
No, it is definitely not.
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BaylorSpineGuy
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In reply to mazag08 • 5:10p, 3/8/22
Also, if you Google it, there's a fair bit of material out there about its significance, both in crypto and in stocks.

Also, I believe the Feb low bounced right off the 350 DMA. So it does have some value, although I'm not exactly sure what that it is ;-).
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$30,000 Millionaire
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5:17p, 3/8/22
AG
I'm not in full meltdown mode yet.
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wanderer
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In reply to BaylorSpineGuy • 5:22p, 3/8/22
BaylorSpineGuy said:
Also, if you Google it, there's a fair bit of material out there about its significance, both in crypto and in stocks.

Also, I believe the Feb low bounced right off the 350 DMA. So it does have some value, although I'm not exactly sure what that it is ;-).
Blue line is 350EMA, purpleish is 350SMA (both on the daily)
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BaylorSpineGuy
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In reply to wanderer • 5:24p, 3/8/22
Maybe I saw it differently. I'll try to look tonight.
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wanderer
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In reply to BaylorSpineGuy • 5:27p, 3/8/22
displaced moving average? No idea, haven't ever used it before.
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mazag08
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5:41p, 3/8/22
AG
I think it's just a random number.

What you could argue is relevant is the 233 and 377 which are fib numbers. 350 just happens to be close and got lucky in my opinion

I keep 144 and 610 on my charts. Nothing in between because I've never seen a good explanation of relevance.

But if it works for you, by all means use it.
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ProgN
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6:11p, 3/8/22
We have a lot of very intelligent folks in here that are in O & G. I need a little help.

Biden signed an EO that hurt domestic exploration when he took office, but it was later struck down by the courts. He's now using the EPA to essentially enforce it since he lost in the courts.

Was it something to do with methane? or what was it? I just need someone to point me in the right direction so I can read up on it.

TIA

I waited until the market closed so it wouldn't clutter the thread during market hours.
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YNWA_AG
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6:12p, 3/8/22
AG
WWR pushing 2.50
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Bob Knights Paper Hands
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In reply to YNWA_AG • 6:14p, 3/8/22
YNWA_AG said:
WWR pushing 2.50

I want it to break and hold that 50-day so bad.
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BaylorSpineGuy
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6:15p, 3/8/22
I have no idea if it's significance. It's not a Fib number but it is a positive integer, a whole number, an even number, a non-prime number, a non-imaginary number, and I'm certain a whole list of other attributes.

My trading mentor uses it because he believes it signifies severe weakness in the market. I think we all know that though….we had a death cross just two days ago on SPX/Y and the DOW had one a week or two back.

Anyway, let's get back to action here. There's money to be made! Let's take and not give!!
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$30,000 Millionaire
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6:25p, 3/8/22
AG
market has H'd 3 times. We're a long way from the daily 21, and remember, everything reverts to the mean.
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BrokeAssAggie
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In reply to ProgN • 6:32p, 3/8/22
This what you are referring too?


https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/new-methane-rules-could-cut-key-risk-for-oil-gas-sector-amid-energy-transition-64348954
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