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24,037,352 Views | 231639 Replies | Last: 1 hr ago by Heineken-Ashi
Charismatic Megafauna
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AG
You guys all have me jealous
59 that show is going to be awesome
Bsg my favorite things to do around San diego are Torrey Pines state park, the hobie surf museum, stone brewing (go for dinner if you have time), ballast point taphouse if you are just sticking around town, filippe's if you like italian food, and pappaleco for gelato
Bob Knights Paper Hands
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Wow, what a show! I saw a lot of concerts, but I never saw Pearljam or Soundgarden live. Enjoy!
sts7049
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AG
futures just tanked
Bonfire1996
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Good jobs report = rates jumping = bad news for markets

This market wants the recession so it can return to easy money policies.
Brewmaster
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AG
FJ43 said:

XCharismatic Megafauna said:

FJ43 said:

FJ43 said:

What's happening Gents! Reading the thread each night but haven't posted much. Miss y'all and playing in the sandbox with ya. Trading each week but hard to post so don't want anyone to risk not being able to manage the trades if I did.

Doing my nightly chart check ups and scans.

Trend lines and SRs have been drawn for a while. Interesting ping pong. Added a few arrows for y'all to keep an eye on.

We are still bear flagging and in a downtrend so be careful getting giddy to the upside until it confirms. Traders market IMO.




So what did y'all do? Level to level. Now……




So you're saying the 391 calls i bought in the dip before close may not have been a high probability move?
Chances are you can trade that. Just me but I would make sure I exit green (if it was me I'd be playing the open) or set a stop at the very least. 391-393 and change will tell me more. 393ish more so. That blue downtrend line is an important TA level IMO.

Notice volume also. Fed stuff tomorrow will probably decide.

I bought next weeks (7/15) ATM puts (388s at 5.02) near close.
FJ getting paid! assuming we open down here
wanderer
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Interesting that we bounced this morning at exactly the point of yesterdays pre-market highs (I wouldn't have noticed if my line from yesterday wasn't still drawn in). Not sure it means anything, just interesting to see stuff like that play out.

LMCane
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BaylorSpineGuy said:

I think 30K and others have a good pulse for the market. The one foot out the door philosophy is good, especially as we approach resistance.

I heard through a birdie (friend of my best friend) who is an investment banker at a major American bank (this guy apparently underwrites loans for inedtments, etc.), and he is quite concerned about the future.

He said that come October-November time, he says most people won't believe how bad it will get. I believe the term he used was "brutal" as it relates to the markets. Was more or less predicting a 3 yr worldwide recession.

We may still be early and no one knows the distant future, but this guy (and I've met him he's sharp) does not feel we have bottomed, so enter cautiously.
what is he basing this prediction on?
Bob Knights Paper Hands
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If SPX hold above opening price for a couple minute candles, I'm eyeing TSLA 730C and MSFT 265C.
BrokeAssAggie
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VIX below 25 and we are ripping
Ranger222
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AG
Internals indicating trend down day tho
Bob Knights Paper Hands
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Bob Knights Liver said:

If SPX hold above opening price for a couple minute candles, I'm eyeing TSLA 730C and MSFT 265C.

I'm out of these. SPC and QQQ broke down below their opening prices. I'll watch to see if they can reclaim them. If not this may have been a bull trap opening and a slow red day.
BrokeAssAggie
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Ranger222 said:

Internals indicating trend down day tho
yep..
Bob Knights Paper Hands
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If SPX stays off the bottom of the channel for this 5-min candle, we likely retest that opening price. TSLA would run. I got back in a couple TSLA 730C, target $749.
Bob Knights Paper Hands
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MSFT needs to step itself the F up. A day after holding the 50-day, it's lagging the QQQ today. So are NVDA and AMD.
Bob Knights Paper Hands
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Bob Knights Liver said:

If SPX stays off the bottom of the channel for this 5-min candle, we likely retest that opening price. TSLA would run. I got back in a couple TSLA 730C, target $749.

I sold on this little pullback. Close enough to my target. I made a little money today, but not a lot. I'd like to see SPX green and then get a run from MSFT and GOOGL for the rest of the morning.
SoTXAg09
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AG
OXY with a head and shoulders? Looking at XOM and FANG, maybe OXY has some more to go on the downside.
Bob Knights Paper Hands
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VIX is still moving lower but SPX having trouble with the opening price. Can we get a breakthrough?
Ranger222
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Buffett has been buying the hell out of OXY. Generally agree with your H&S chart analysis, but that Buffett buying would give me a bit of pause
Brewmaster
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Bob Knights Liver said:

VIX is still moving lower but SPX having trouble with the opening price. Can we get a breakthrough?
breakthrough engaged! nice short squeeze
Bob Knights Paper Hands
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I'm going to regret selling those TSLA calls early. MSFT finally broke through as well. I want to see it test yesterday's high today.
BrokeAssAggie
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BREwmaster said:

Bob Knights Liver said:

VIX is still moving lower but SPX having trouble with the opening price. Can we get a breakthrough?
breakthrough engaged! nice short squeeze
here we go...
Charismatic Megafauna
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Charismatic Megafauna said:

Yeah those dudes are gone by 9:30 at the latest, I'll take profits at open if we gap up

Took a 50% haircut on these, been buying 391 xsp calls as we have approached each support line, now starting to sell 392s against them to build net free+ spreads
Bob Knights Paper Hands
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Remember to watch for a rejection of tech if QQQ gets close to 299.90 today, the 50-ema. Even if temporary, I think we'll see a pullback from profit taking there or just before we get there.
Charismatic Megafauna
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That's a reclaim of 3895. Bullish af
59 South
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Market wants to rally - don't fight it!
Brian Earl Spilner
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Took $1400 UPRO profits off the table in my Roth account.
Bob Knights Paper Hands
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Still holding my TQQQ. Sell target is $29.20. I did add in a stop today at $26.90. if we break back below opening price on QQQ, I'll take my profits and run.
Bob Knights Paper Hands
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Charismatic Megafauna said:

That's a reclaim of 3895. Bullish af

If VIX stays under 25, then yes.

Brian Earl Spilner
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I had my target at $30 from weeks ago but I'm getting a little impatient that we may reject and reverse before hitting it...
Bonfire1996
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Bonfire1996 said:

Good jobs report = rates jumping = bad news for markets

This market wants the recession so it can return to easy money policies.
Jobs report was a fraud. Devil in the details. Job gains were constrained to part time and second jobs.

BLS called people gaining a 2nd job a net job growth. FRAUD.

That's why market is up. Recession imminent with 2Q earnings reports coming next week. Ride this up and then watch retail bail when news goes South next week.
Charismatic Megafauna
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Got two job, mon!!!
Brewmaster
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Bob Knights Liver said:

Charismatic Megafauna said:

That's a reclaim of 3895. Bullish af

If VIX stays under 25, then yes.


bought a bunch of MARA yesterday, that is me in the gif right now!
Charismatic Megafauna
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Ttd puts for next week. It's been absolutely ripping this week. If the channel i have drawn going back to 5/27 holds, and especially if the macros pull back, it looks like 40 may be in the cards
GreasenUSA
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AG
QQQ is currently in a 1.5+ point pullback from the 50 day. I asked 12 cents too high on my short. Oh well, can't catch them all.
Bob Knights Paper Hands
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I sold the MSFT calls for 40% profit. Small order, but this puts me over my daily trading goal. I really wish I would've help the TSLA calls as well and gotten more than 2x my daily goal.
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