There's some good volume on AMD to start as well. This could be a good play but it keeps chopping hard.
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Bob Knights Paper Hands
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Agreed. TSLA, SPX, QQQ closed that first 15-min candle red. Surely we don't get all the way back down to Fridays close at $707 do we?
we going to reverse??
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Bob Knights Liver said:
I caught a little profit on TSLA725P just then. I'm going to see if we retest opening price and if so which way we go from there.
QQQ above opening price. SPX and TSLA are close. If all three confirm above for a few minutes this could be a big RtG. Look at the size of the 5-min BB on TSLA and how large that upside is. Or we could be rejected by opening prices and the bears take control. Wait for the price action to confirm. We probably won't know for sure until 9:01 so we get started on another 5-minute candle.
out of AMD puts switched to $110 calls. 0.55 cents. Volume is too strong, if markets reverse is should take off.
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I got in a few TSLA 750C. I might could have been a bit more patient. Let's see how that works.
trimming at .80 centsBrokeAssAggie said:
out of AMD puts switched to $110 calls. 0.55 cents. Volume is too strong, if markets reverse is should take off.
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Bob Knights Liver said:
I got in a few TSLA 750C. I might could have been a bit more patient. Let's see how that works.
Stopped out. I should have waited.
Actually I screwed up the sell order so I didn't stop out. I'm still in for now. Gonna hold and see what we do here.
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Ok now REALLY stopped out this time. That means it's all about to explode upward, I believe.
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I'm back in long TSLA . Let's see if we can make a run to the top of the channel now. Already up $1.50 on my calls but I feel like there's a big move about to happen even though it's a Friday.
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VIX back below 25
me too.....tight stops todayBob Knights Liver said:
Ok now REALLY stopped out this time. That means it's all about to explode upward, I believe.
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Mancini has above the 4125-4135 range as the upside play. We have gotten rejected there 3 times, but we keep going back for more
Note: Testing 4135-25 now. Ran out of space in the above tweet but the 4105 level also has that key 4095 just below there to form a zone. Bulls going to want to push no lower than there, ideally holding this 4125-35 zone which keeps upside targets in play
— Adam Mancini (@AdamMancini4) June 3, 2022
Market doesn't want to budge
mfs who shorted tech and went long on oil in the beginning of the year pic.twitter.com/x4xlLLvdu4
— Wall Street Memes (@wallstmemes) June 2, 2022
SAVA moving again today. Bull Flag setup, see if it breaks upward.
think they are about to dump this thing some more..
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BrokeAssAggie said:
think they are about to dump this thing some more..
It does appear that way. Through this chop we've seen lower highs and lower lows.
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Triple_Bagger said:
SAVA moving again today. Bull Flag setup, see if it breaks upward.
Could these series of pumps and drops simply be people creating liquidity to exit large positions? Looking at 5-min candles, there's a big green candle with 201k volume and then four red candles totalling 390k volume and closing above the opening price for that green candle. Isn't that how a large trader might use liquidity to exit? I still hope this is a good sign, but unless there's some news that comes out soon, this looks like exit strategy to me.
I'm still amazed how the entire market weighs every damn word these old socialists utter. It's crazy and terrifying.How politicized is the Fed? austinAG90 said:
Be back with more this weekend boys. Been working on stories while enjoying some islands and beaches.
Tesla To Fire 10% of Staff... Equities Lower....EMPLOYMENT REPORT COULD BE UGLY
Equity markets were not doing much overnight until 3.20 am when the Reuters story that Tesla will fire 10% of their employees and freeze hiring came out...Reuters also wrote that Musk is preparing for a major slowdown in the economy...That sent equities down to where we are now... Down about 31 points and currently down 35 as we write... The question is whether this is an omen to today's employment report... The BB expectation has been reduced to 318,000, with a range of 220,000 to 450,000... The whisper number is 301,000... The ADP number yesterday was awful, less than 50% of the expectation, with revisions lower... BB put out a story overnight that small companies have lost almost 300,000 jobs in the last few months... And the White House Press secretary made comments setting up for a worse than expected number... Biden speaks at 10.30... We have always been skeptical as to whether the WH knows the number before hand... But the writing is on the wall as to a slowdown, question is whether those numbers show up today or later in the year... Fed reaction should be modest as 50 basis seems to be locked in stone for the next two months... Brainard confirmed that yesterday...as did most of the Fed speak this week... They are reading from the same page.
When will bad news be good news?.. The Fed wants the economy to be slower.. They want the number of jobs available to potential employees to head lower... The question is when those numbers start to kick in, will the markets start to be bullish that the Fed will slow down their aggressive posture?... We probably need to see significantly lower inflation... Kiss 2% good bye for now, but 4% may get a boost... Next week we get CPI, which looks to be lower, but still sticky... Not coming down fast enough.
Fed speak ends today as the Fed goes into their blackout period until the Fed announcement June 15... Brainard is the only one scheduled to speak today and the topic does not look market oriented... Sara Eisen interviewed Brainard yesterday so we know where she stands... We would not be surprised to see another Fed governor interview pop up... They are good for TV ratings...
Rates... Not much movement overnight... Bond markets are marginally lower... 10 year is hovering around our 2.92 area.. London and China are closed... We see support at 3.01 for the 10 year... Citi made some comments this morning that if the 10 year can break 3.25% it could go to a 4 handle... A little too premature for us, especially with the economy slowing in pockets and gas prices hovering around 5 bucks... But we spent some time in a local car dealership this week... A small one with almost no inventory, but they were able to sell 85 new cars last month, all were sold and delivered as they came off the trailers... So business is still getting done... We went into the show room, there are no longer cars in the showroom as they have made it all offices since we were there earlier this year.
Four borrowers came to market yesterday with 3 billion.. Order books were 2.9x and new issue concessions about 14 basis... This brings the weeks today to 30 billion... There is a big Oracle benchmark deal in the wings, but it will probably come out in the middle of the refunding next week... We saw that our colleague Harley Bassman of Simplify Asset Management put out that Mortgage Bonds are "Crazy Cheap"...
Mortgage Bonds Are 'Crazy Cheap,' Rates Pioneer Bassman Says
Our desk tends to agree even though the Fed is starting to unwind their mortgage portfolio... It looks to us that the Fed will only allow run offs this year and may not sell next year depending on the circumstances...mortgage spreads have almost doubled this year from 68 on January 3 to 114 now... 120 earlier in the week...
Markets to remain choppy... Based on the charts the bear market rally is close to running out of steam... But we could hang on until the Fed meeting... But look for bad news to start to be better for the markets as it will undercut the Fed hawkishness... We think Bostic will be proven correct... Have a great weekend.
POTUS is suggesting we fight inflation with green energy.
Also going to relieve cost of shipping by cracking down on price gouging from shipping companies.
Also going to relieve cost of shipping by cracking down on price gouging from shipping companies.
Back in a LUV put... headed to the gap if we keep downside.
Bold strategy Cotton. Let's see how it plays out.
Little hair of the dog, aint it Irish?
These are times I hate being right. The FED has decided that their best, and perhaps only, tool to curb inflation is to destroy jobs.
It puts a whole new perspective in my kitchen, politically. Jeez. I never could have imagined them being that diabolical.
It puts a whole new perspective in my kitchen, politically. Jeez. I never could have imagined them being that diabolical.
Hahahah.Saltyag15 said:
Little hair of the dog, aint it Irish?
NOW YOU'RE MESSIN WITH A SON OF A *****
What a great trading song for puts.
My smooth ape brain just doesn't understand how raising interest rates on loans is going to bring the cost of doing business down.
I did however get pissed off yesterday about not having spending power for some QQQ puts in my trading account.
So I took some in my IRA
Trimmed to net free and profit. Let's see how low we can go.
So I took some in my IRA
Trimmed to net free and profit. Let's see how low we can go.
Whew. Timed my TQQQ exit just right.
Now gotta try to find a good re-entry...
Now gotta try to find a good re-entry...
Hello DHX. haven't seen you move like this in a while.
raising interest rates deters borrowing thus reducing the supply of money. Lending far outpaced the fed printing press when borrowing is cheap.Philip J Fry said:
My smooth ape brain just doesn't understand how raising interest rates on loans is going to bring the cost of doing business down.
Yeah, I get it reduces lending. How does that keep inflation down?
Makes cars more expensive. Makes housing my expensive. Makes investments into capital more expensive.
Makes cars more expensive. Makes housing my expensive. Makes investments into capital more expensive.
if you have more money supply and the same number of goods then the cost of those goods increases or inflates.Philip J Fry said:
Yeah, I get it reduces lending. How does that keep inflation down?
Makes cars more expensive. Makes housing my expensive. Makes investments into capital more expensive.
Edit: it doesn't make these things more expensive, it makes borrowing capital more expensive.
Thinking in terms of demand vs supply. How do interest rates effect demand?
I'm not sure I'm smart enough to know. It doesn't do anything for my need for food and gas.
On the supply side, it makes the cost of supply more expensive, no?
I'm not sure I'm smart enough to know. It doesn't do anything for my need for food and gas.
On the supply side, it makes the cost of supply more expensive, no?
bumping this to get your thoughts on WBD at this point.Farmer @ Johnsongrass, TX said:Warren Buffet just took a position in Paramount. Not that I care what Warren does, but some do. He has more money and fame than I do, but I'm just mentioning this for informational purposes only. I own WBD,...so eff him.XXXVII said:PWestAg18 said:
I was hyped until the whole fiasco with removing the Taiwan flag. Not going to pay to see it out of protest.
If you're gonna make an American military movie, don't bend the knee and edit out a Pacific ally so it can be aired in the CCP.
I will be shorting Paramount.
Do we you still have faith in this play or time to dump?
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