$30,000 Millionaire said:

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FOLKS

I AM SEEING EUPHORIA. URGING CAUTION. MANAGE SOME RISK.

yes we can gap up tomorrow. Don't give it all back. Take some gains, go net free, whatever.

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My RSI2 and RSI2cummulative on daily SPY is WAY over 90 on both (Tremendously over bought), for a few days now, and QQQ is similar.

A cooloff is in order, but until it happens it ain't happened.

jj9000 said:

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$30,000 Millionaire said:

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FOLKS

I AM SEEING EUPHORIA. URGING CAUTION. MANAGE SOME RISK.

yes we can gap up tomorrow. Don't give it all back. Take some gains, go net free, whatever.

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There's the Pre-Covid 30K that we all know and love!!

Deep down there's a bear in there.

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My end of year target for SPY is 300

Seems appropriate given the last few posts.

CARL ICAHN SAYS "I THINK THERE VERY WELL COULD BE A RECESSION, OR EVEN WORSE" - CNBC

— *Walter Bloomberg (@DeItaone) March 22, 2022

300 probably isn't realistic. Sub 400 is. Lets see what happens in the next 2-3 weeks. that will tell the tale.

Monthly lows have been around the 24th of each month, so plenty of time this week. I'll post why I think a pullback is warranted shortly after I clear some meetings.

$30,000 Millionaire said:

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300 probably isn't realistic. Sub 400 is. Lets see what happens in the next 2-3 weeks. that will tell the tale.

Monthly lows have been around the 24th of each month, so plenty of time this week. I'll post why I think a pullback is warranted shortly after I clear some meetings.

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Been a long time, fellas…

but I've got model T off the Covid low to the all time high at 346.

I went back and charted the last three years of SPY, and had 350ish and then 325ish as deep support. We lose 400 and it's a quick tumble.

I do think the feds will do all they can to keep the market up because if we crater there's nothing that is going to save the Dems in November.

BaylorSpineGuy said:

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McInnis 03 said:

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🤔🤔 https://t.co/PPGCPU6Q96

— chika (@chikatrades) March 22, 2022

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What does this mean? Talk to me in simple terms. Is this a reference to the Carl Icahn trade from a couple months ago where he bet like $2B on deep OTM calls when market was at like 4200?

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You can google the "JPM Protective Collar" to get the gist, but it's hard to find a better explanation than this

https://threadreaderapp.com/thread/1444085220173623296.html

then go look at the SPX 3/31 expriy, look at the 3810p OI and the 4510p OI. Finally take a gander at the 4920c OI. This is the JPM collar and it affects how things end on 3/31, at least that's the thesis.

$30,000 Millionaire said:

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jj9000 said:

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$30,000 Millionaire said:

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FOLKS

I AM SEEING EUPHORIA. URGING CAUTION. MANAGE SOME RISK.

yes we can gap up tomorrow. Don't give it all back. Take some gains, go net free, whatever.

---

There's the Pre-Covid 30K that we all know and love!!

Deep down there's a bear in there.

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My end of year target for SPY is 300

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Talking out loud. Respond if you want, but mainly this is diarrhea of the keyboard, trying to learn and put my thoughts on "paper".

I'm trying to figure out when/where to take profits. I had a few positions in a 50K account at around 2K each. I bought these prior to jumping into the conversation and can't really tell you why I bought them except for the fact that i "felt" they had been hit too hard in recent months. "That's not a great reason to buy, but I do feel like it's a good reason to start research.

However, now that I have them, I'm trying to follow some of the recent guidance and lock in some profits, set some stops, and then reevaluate when/where to get invested again.

What I'm trying to avoid is selling for the same reasons I nought - gut feeling. I have the following (all long, no options yet).

TSLA: Bought at $790. I sold a fractional share at $911 (15% gain), leaving 2 shares. I sold another today at 25%, leaving 1. I'm tempted to put a stop in (where???) and just let it ride. Should I sell this last piece or let it ride?

NVDA: Bought 9 shares at $221. Sold 4 at $265 (~20%). Current stop is at B/E.

Similar sized positions in AMZN, AAPL, MSFT, DIS, FDX, APA, and LOW. Those aren't up enough to to sell (or are they - all less than 10%). Stops are set at 80% of entry price.

Companies on my radar from a macro perspecctive: CSX (or another railroad), KR, and possibly a bank (BAC maybe)

I also followed 30K into a couple of smaller plays for less than 1%.

All the memes look to be running - GME, AMC, KOSS, PLTR, BBBY.

Maybe we can get an MVIS run too.

bhanacik said:

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I was looking at OA's recent $BAC April call pick where he outlined some indicators he looks for and trying to find another example and came across $PEP. It is showing the same bottom pivot into an ascending triangle, increasing RSI and a 6-day breakout.

I was looking at the $172.50 calls on 4/14 - any thoughts on what I'm seeing?

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Rough take for you.

The yellow lines are SRs I drew in by hand on an iPad kinda quick. Then the light blue is a fib I added after and you can see how close they align.

The blue vertical and blue horizontal intersection with the small yellow circle would be ITM at 4/14 on your call selection.

Between here and there there is a lot of resistance levels to get through yet. Most importantly your just shy of Model T or the 50 fib. Typically the play was from the low to that point.

Model T then about 168 will be sporty in my opinion. Could still continue or could run sideways a bit to build after this move. If I was guessing it will consolidate between 165 and 162 before a move towards 168.



Edit: Grabbed RSI for you also. The turn looks good and has room before running too hot.