went net free, leaving one runner to see if we push higher tomorrowBrokeAssAggie said:move stop to $1.25BrokeAssAggie said:
SPY is about to run... added 5/30 $456 $1 entry
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going to take a TTD 70C overnight at $1.6 in the 50K account.
BREwmaster said:that's 17.5k per person, man woman or child.FTAG 2000 said:
Biden getting ready to talk about his ridiculous 5.8 trillion budget ask for next year.
Wow.
If we look only at citizens who pay federal taxes, it's probably something like about 50-60k each, while the others pay zero.
The top 20% of earners pay 87% of the collected federal income tax, but only earn 57% of the income.
https://www.wsj.com/articles/top-20-of-americans-will-pay-87-of-income-tax-1523007001
Bears just slapped at 455.25. What a wreck
that's Mr. Bonker.Spoony Love said:
Bears just slapped at 455.25. What a wreck
pretty good day today all things considered.
SPX'd my way to another great day again. I did +$1000 on Friday, and +$1300 today. I'm getting very comfy with SPX expiration days. That's probably not a good trait.
good work. I trade them.
as long as you're going with the trend, they work great.
I buy about 10 points OTM with a 20% stop most of the time.
I buy about 10 points OTM with a 20% stop most of the time.
I hope NRD got out of AAPL before he was murderered.
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By "get out" you mean "average down?"
Apparently i hate money. I think I'll get an exit though
Apparently i hate money. I think I'll get an exit though
We're closing in on an important level for ES. We had a double top at 4586 in February before selling off to 4100. We're only 16 points away from retesting 4586.
cheers to your XSP brother... tried one today for the first time, should cash settle and be gravy. Also played a couple SPY calls at the same time. Sold 1/2 SPY when I made enough on it to cover cost of XSP + SPY, was net free at that point. But held 1 SPY call, sold after close (my first time doing that) now just waiting to see XSP cash settle.
Pretty sure they're my first 10 baggers ever. At net free, I decided F it, I'm holding into close!
tomorrow I'm sure won't be so easy!
Pretty sure they're my first 10 baggers ever. At net free, I decided F it, I'm holding into close!
tomorrow I'm sure won't be so easy!
Euro options are the best. You just let them sit there, and then all of a sudden cash appears in your account.
amazing and great work.BREwmaster said:
cheers to your XSP brother... tried one today for the first time, should cash settle and be gravy. Also played a couple SPY calls at the same time. Sold 1/2 SPY when I made enough on it to cover cost of XSP + SPY, was net free at that point. But held 1 SPY call, sold after close (my first time doing that) now just waiting to see XSP cash settle.
Pretty sure they're my first 10 baggers ever. At net free, I decided F it, I'm holding into close!
tomorrow I'm sure won't be so easy!
So for two weeks of trading, SPY has turned in one red day and it was a small pull back which likely could be considered a chop day. Any meetings or news releases that can light the bears on fire? Or was 3/14 the reversal day for this second quarter?
It seems we are tracking seasonality putting us past a pull back in March with a rip in beginning of April. Mancini seems to be on with his levels, ES reached 4565, and now he is saying 4595-4640 maybe in play? That would seem to track with seasonality increase until mid-April.
A completed cup on SPY from Jan 3 would put it near 480. After watching today, that may not be out of the question soon. I'm positioned on the other side of this move in AAPL puts for what I am hoping is a bear reaction tomorrow to scalp early but it may be off to the races tomorrow. What are your thoughts?
It seems we are tracking seasonality putting us past a pull back in March with a rip in beginning of April. Mancini seems to be on with his levels, ES reached 4565, and now he is saying 4595-4640 maybe in play? That would seem to track with seasonality increase until mid-April.
A completed cup on SPY from Jan 3 would put it near 480. After watching today, that may not be out of the question soon. I'm positioned on the other side of this move in AAPL puts for what I am hoping is a bear reaction tomorrow to scalp early but it may be off to the races tomorrow. What are your thoughts?
These types of statements are ridiculous. X stock reached this level so the next level may be in play.... NO *****Spoony Love said:
So for two weeks of trading, SPY has turned in one red day and it was a small pull back which likely could be considered a chop day. Any meetings or news releases that can light the bears on fire? Or was 3/14 the reversal day for this second quarter?
It seems we are tracking seasonality putting us past a pull back in March with a rip in beginning of April. Mancini seems to be on with his levels, ES reached 4565, and now he is saying 4595-4640 maybe in play? That would seem to track with seasonality increase until mid-April.
A completed cup on SPY from Jan 3 would put it near 480. After watching today, that may not be out of the question soon. I'm positioned on the other side of this move in AAPL puts for what I am hoping is a bear reaction tomorrow to scalp early but it may be off to the races tomorrow. What are your thoughts?
This market is nothing but a clown show pump by the market makers.
Best plays right now are to go long on volatility in my opinion. Then when it spikes I would go short on volatility.
I have done ok so far but just laughing at the last 10 days. Literally back to STONKS ONLY GO UP!
I think this is what concerns me the most about this market. I feel like we are being drawn in to a false sense of the bolded statement. All the negative economic factors are still there. Inflation is extremely high, rates going up, supply line disruption, etc. I just can't make sense why we have seen this market move up so steadily lately.SF2004 said:These types of statements are ridiculous. X stock reached this level so the next level may be in play.... NO *****Spoony Love said:
So for two weeks of trading, SPY has turned in one red day and it was a small pull back which likely could be considered a chop day. Any meetings or news releases that can light the bears on fire? Or was 3/14 the reversal day for this second quarter?
It seems we are tracking seasonality putting us past a pull back in March with a rip in beginning of April. Mancini seems to be on with his levels, ES reached 4565, and now he is saying 4595-4640 maybe in play? That would seem to track with seasonality increase until mid-April.
A completed cup on SPY from Jan 3 would put it near 480. After watching today, that may not be out of the question soon. I'm positioned on the other side of this move in AAPL puts for what I am hoping is a bear reaction tomorrow to scalp early but it may be off to the races tomorrow. What are your thoughts?
This market is nothing but a clown show pump by the market makers.
Best plays right now are to go long on volatility in my opinion. Then when it spikes I would go short on volatility.
I have done ok so far but just laughing at the last 10 days. Literally back to STONKS ONLY GO UP!
McInnis 03 said:
Euro options are the best. You just let them sit there, and then all of a sudden cash appears in your account.
So with XSP, you don't have to close out the position on an expiring day? They just settle up based on closing price of the option?
Correct. Same with SPX and some other index funds.
PLTR reclaimed the 50DEMA today too
bhanacik said:McInnis 03 said:
Euro options are the best. You just let them sit there, and then all of a sudden cash appears in your account.
So with XSP, you don't have to close out the position on an expiring day? They just settle up based on closing price of the option?
This works with any cash settled option at expiry.
New amateur disclaimer.
BAC is right around 20DEMA with outer bands looking to trend upward. Banks should increase holdings with rates increasing correct? Would mid April calls be advisable in this scenario?
Just trying to learn!
TIA
BAC is right around 20DEMA with outer bands looking to trend upward. Banks should increase holdings with rates increasing correct? Would mid April calls be advisable in this scenario?
Just trying to learn!
TIA
Wish I could have traded with you guys today. Scalp city dream.
Sold all MSFT 310c at 3.30 average. Congrats to those that played that one. Should be 2-2.5x trade if you exited. If you held you're in good shape.
Used % profits and bought 315c on the dip at .90. Last I looked they are 1.58.
Holding MSFT 315c
LUMN 4/14 11c (net free calls)
CRM 4/14 230c - down 17% - this is going to make a decision soon IMO.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Great call out on those Friday brother. I pictured you like this when it hit $310 today.
Edit: Msft hit $310 today, so correction made.
Edit: Msft hit $310 today, so correction made.
ProgN said:
Great call out on those Friday brother. I pictured you like this when it hit $110 today.
Thanks! Blind squirrel finds a nut now and then.
Think I'm a better trader driving than sitting still. I may have to change my approach.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Haven't looked at charts for any of these. But he's usually pretty good for you degenerates.
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Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
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Spoony Love said:I think this is what concerns me the most about this market. I feel like we are being drawn in to a false sense of the bolded statement. All the negative economic factors are still there. Inflation is extremely high, rates going up, supply line disruption, etc. I just can't make sense why we have seen this market move up so steadily lately.SF2004 said:These types of statements are ridiculous. X stock reached this level so the next level may be in play.... NO *****Spoony Love said:
So for two weeks of trading, SPY has turned in one red day and it was a small pull back which likely could be considered a chop day. Any meetings or news releases that can light the bears on fire? Or was 3/14 the reversal day for this second quarter?
It seems we are tracking seasonality putting us past a pull back in March with a rip in beginning of April. Mancini seems to be on with his levels, ES reached 4565, and now he is saying 4595-4640 maybe in play? That would seem to track with seasonality increase until mid-April.
A completed cup on SPY from Jan 3 would put it near 480. After watching today, that may not be out of the question soon. I'm positioned on the other side of this move in AAPL puts for what I am hoping is a bear reaction tomorrow to scalp early but it may be off to the races tomorrow. What are your thoughts?
This market is nothing but a clown show pump by the market makers.
Best plays right now are to go long on volatility in my opinion. Then when it spikes I would go short on volatility.
I have done ok so far but just laughing at the last 10 days. Literally back to STONKS ONLY GO UP!
I have a similar uneasy feeling. Although I have heard pro's talk about the rebound comes when you are still getting negative news but the market doesn't seem to care anymore. Think about spring of 2020 - I thought we might reverse back down and hit $2000 on SPX.
I think it's good to be aware of the economic issues and how fast the market can plunge when we do finally have a correction. Don't over-expose yourself especially overnight or over a weekend. However as long as the trend is up make sure you're allowing yourself to profit from the trend. My goal is always to outpace SPX on an uptrend, but protect capital on the downtrends so I can get in cheaper after we start another uptrend.
Just my 2 worthless cents.bullitt said:
New amateur disclaimer.
BAC is right around 20DEMA with outer bands looking to trend upward. Banks should increase holdings with rates increasing correct? Would mid April calls be advisable in this scenario?
Just trying to learn!
TIA
I've played this several times over the past few weeks. In and out. I'm flat on his now. But it's not a bad setup. I think this decides soon. If I was playing it be the 44 or 45c for 4/14. 3 weeks you'll know.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
SPY
It's fully in my zone of decision. If I was trading this afternoon I probably would have lotto'd some ATM puts at the close for this week as I think I could have at least scalped them. Just a guess.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Bonfire1996 (I think it is), had a great post on this end of last week...and I think he's a pro or at the very least a very good trader: It was so great I saved it to a word doc for myself, I'll repost his reply to FJ on how to play this impending dump too...
boom found it, see post below this one
Bonfire1996 said:
Get your long term hedges In place. I've heard rumblings of a 10% inflation report coming sometime in the next two months, and with the FED going ape shlt on the dot plot with two 0.50% raises likely in May and July, this whole economy is about to have its gears stripped into reverse.
The bloodbath in November was already coming. Now add near certain recession to the forecast and I cannot imagine what our country is about to look like.
boom found it, see post below this one
Bonfire1996 said:
Get your long term hedges In place. I've heard rumblings of a 10% inflation report coming sometime in the next two months, and with the FED going ape shlt on the dot plot with two 0.50% raises likely in May and July, this whole economy is about to have its gears stripped into reverse.
The bloodbath in November was already coming. Now add near certain recession to the forecast and I cannot imagine what our country is about to look like.
bingo, see first post above "Get your long term hedges in place..."Bonfire1996 said:FJ43 said:Bonfire1996 said:
Get your long term hedges In place. I've heard rumblings of a 10% inflation report coming sometime in the next two months, and with the FED going ape shlt on the dot plot with two 0.50% raises likely in May and July, this whole economy is about to have its gears stripped into reverse.
The bloodbath in November was already coming. Now add near certain recession to the forecast and I cannot imagine what our country is about to look like.
What would you see as good long term hedges? I'm always looking to try and hone to a higher level that aspect of my trading.
Lotto puts on tech that isn't profitable and built its capital structure with debt.
Sin stocks, but I wouldn't even go there.
Lotto puts on production home builders trading at 15x multiples or greater.
Morgan Stanley is going to rake. 1. Volatility 2. Margin debt that floats the interest rates higher
Citibank because they dropped salaries in firing unvaxxed and they have floating rate credit card debt.
Ford: selling every vehicle they make and Ford credit about to get juiced by rates
But most of all, Cash as a position is about to get a 2-5% return. Then Buy GOOGL on the recession dip, the best balance sheet in the world, who has just scratched the surface on how to make money on TV and cloud.
I edited the post you responded to, but I believe you knew I was referring to your MSFT rec. I hate it when typing fast and make a mistake but your brain corrects it in your head so you don't notice until 45 mins later.
BREwmaster said:
Bonfire1996 (I think it is), had a great post on this end of last week...and I think he's a pro or at the very least a very good trader: It was so great I saved it to a word doc for myself, I'll repost his reply to FJ on how to play this impending dump too...
boom found it, see post below this one
Bonfire1996 said:
Get your long term hedges In place. I've heard rumblings of a 10% inflation report coming sometime in the next two months, and with the FED going ape shlt on the dot plot with two 0.50% raises likely in May and July, this whole economy is about to have its gears stripped into reverse.
The bloodbath in November was already coming. Now add near certain recession to the forecast and I cannot imagine what our country is about to look like.
Yeah, those comments of his stuck out to me as well. If I recall correctly, he outed himself last year as a banker, if memory serves.
He kept going on and on that he didn't think Fed was taking inflation numbers seriously and didn't think they would raise rates. He was uber bullish at the time.
These recent talks of rate hikes certainly seemed to have drawn his attention (and all of ours, I think!).
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FJ43 said:Just my 2 worthless cents.bullitt said:
New amateur disclaimer.
BAC is right around 20DEMA with outer bands looking to trend upward. Banks should increase holdings with rates increasing correct? Would mid April calls be advisable in this scenario?
Just trying to learn!
TIA
I've played this several times over the past few weeks. In and out. I'm flat on his now. But it's not a bad setup. I think this decides soon. If I was playing it be the 44 or 45c for 4/14. 3 weeks you'll know.
I like how we had accelerated volume into that valley, then had decent volume on the upswing, and then lower volume while flagging. That looks like some fear and capitulation, then strong return to uptrend, and then consolidation before moving higher. I'd still prefer to wait and see it break upward with volume before going in hard. If you have time to watch it or can set contingent buy order that executes successful (I've massive failed trying to do that), I'd wait. Remember you just want to get the meat of the trade. It's okay if you miss the bun on the bottom and the top, if that protects your capital.
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