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Red Pear Luke (BCS)
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In reply to Carlo4 • 8:35a, 7/29/22
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Chiming in as an Only Child as well but also a few years behind you in terms of your parents length of Marriage (about 44 years of marriage) I do not look forward to this day. They have a fiduciary helping them on the combined accounts but his only retirement hobby is trading stocks and market with his business partner.

Thoughts, prayers and hopes for a speedy recovery.

I think that just the fact that you are working and hoping to do right by your pops speaks the world and if he's anything like mine - he will know he's taught you well and will be proud of you stepping up.

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Farmer @ Johnsongrass, TX
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In reply to Lake08 • 8:36a, 7/29/22
Lake08 said:
Sell me on NOT buying XOM. Oil is a very nice hedge against big tech and the market in general
Don't fret if this drops back next week. There's usually a dip, then a run to ex div which is 8/12, then a dip, then a run up to payout which is 9/2. Double check my dates. Working from memory.

I am holding my position and targeting the second week in August(8/8 to 12) to sell Leap Call Options against....Maybe around 9th or 10th. Somewhere in there I think we will see $100 or $100+. The 3rd week in August is MOPEX. There's a 45,000 Open Interest on $100 Calls for 8/19. That's a hell of a bet. Volume and other factors lead me to believe XOM is headed toward $100. By mid-Sep I believe XOM is headed down, but not below $70 and Christmas should be next rally up. 2023 is going to be a tough year in my opinion. That's why I'm going Leaps on XOM.

The fundamentals are supportive XOM long long long term,...should get a div increase in Q3 of 1 or 2 cents. I just believe XOM will struggle, along with all companies, going into and through 2023 as the recession/inflation takes it's toll. Value stocks should prosper better than Growth Tech during this time.

This information above is worth slightly less than what you paid for it.
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Red Pear Luke (BCS)
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In reply to Farmer @ Johnsongrass, TX • 8:39a, 7/29/22
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Farmer @ Johnsongrass, TX said:
XOM

Today, July 29th, Exxon Mobil Corp posted its BIGGEST quarterly profit ever!!

Exxon reported second-quarter net income of $17.9 billion, or $4.21 per share, an almost four-fold increase over the $4.69 billion, or $1.10 per share, it earned in the same period last year.
Exxon's results also beat its best quarter of 2008, when Brent crude oil prices peaked at $147 per barrel, and its best-ever quarter reached in 2012, when the company earned $15.9 billion. Exxon has been using extra cash to pay down debt and raise distributions to shareholders. It maintained its 88-cent-per-share dividend for the third quarter.
The company earlier this year more than doubled its projected buyback program to $30 billion through 2022 and 2023.
Exxon kept its capital investments at $9.5 billion in the first half of the year, in line with full-year guidance.

"I just wanna bang on the (Oil) drum all day..."

Pre-Market $95.00 / $2.36 / +2.55%
Good call with this one farmer. First winning trade of +40% I've had in weeks. I ended up buying both the Lottos for today and then the $100s on Aug 19th. But sold the lottos yesterday to lock in the 20% gains (figured I made enough to take the Mrs. to a nice dinner so that was a good enough).

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Farmer @ Johnsongrass, TX
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8:42a, 7/29/22
CVX,....let'er buck!
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Bob Knights Paper Hands
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8:43a, 7/29/22
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Bob Knights Paper Hands
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8:44a, 7/29/22
Really bullish looking open. I still have this feeling that stocks will need a breather today after such a green week.
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Bob Knights Paper Hands
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8:50a, 7/29/22
I made a little on TSLA calls there. I exited when we hit bullish supply zone before any stalling of momentum and left >half on the table.

I'm not sure anymore if I'm making good decisions on these or not. It seems like when I play cautiously it runs and when I leave risk on we reverse and I lose profits, if not trading cash. I guess I need to do another "what if" study on these TSLA options.
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spud1910
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In reply to Carlo4 • 8:54a, 7/29/22
AG
Praying for your dad and family.
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BaylorSpineGuy
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In reply to Bob Knights Paper Hands • 8:54a, 7/29/22
The lady trading day of July has been red something like 12/16 years or something like that. I'm not sure if that'll follow today tho! Sentiment is really positive right now.
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Diggity
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In reply to Carlo4 • 8:54a, 7/29/22
AG
Carlo4 said:
ProgN said:
If you really want our advice then you'll need to list the symbols of what he's holding. You don't have to list the sizes or amounts, but need to know what we're looking at.

Iirc, doctors aren't permitted to diagnose you without observing you.


Coin base, Roku, Shopify, and Spotify are on the block.

Roku has been held since 200s. He bought the others 6-7 months ago. He's down between 50-75% in these (was way worse 2 weeks ago).

The rest are companies I've never heard but they seem down consistently with QQQ so I was doing nothing with them. I'll provide a list later.
geeze....sounds like the ARKK portfolio. Your dad isn't the only one to get swept up by that trend.
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Irish 2.0
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In reply to Carlo4 • 8:57a, 7/29/22
Carlo4 said:
ProgN said:
If you really want our advice then you'll need to list the symbols of what he's holding. You don't have to list the sizes or amounts, but need to know what we're looking at.

Iirc, doctors aren't permitted to diagnose you without observing you.


Coin base, Roku, Shopify, and Spotify are on the block.

Roku has been held since 200s. He bought the others 6-7 months ago. He's down between 50-75% in these (was way worse 2 weeks ago).

The rest are companies I've never heard but they seem down consistently with QQQ so I was doing nothing with them. I'll provide a list later.
You consider selling naked puts in the account on 'Blue Bloods" for him? Generate some cash flow and at the same time knowing that if you get assigned you'll end up with MSFT, AAPL, AMZN, GOOGL, KO, etc..
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$30,000 Millionaire
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8:58a, 7/29/22
AG
I'm going to call my shot. We will have some sell today.
You don’t trade for money, you trade for freedom.
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Carlo4
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In reply to Irish 2.0 • 8:59a, 7/29/22
AG
I have not but will consider that. Was waiting until 2 PM to make moves. This is why I was posting... I know I have tunnel vision considering the situation, so appreciate any feedback.

Thanks all for the kind words. I'll take it from here!

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Red Pear Luke (BCS)
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In reply to $30,000 Millionaire • 9:02a, 7/29/22
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$30,000 Millionaire said:
I'm going to call my shot. We will have some sell today.
Still think so with Consumer Sentiment at 51.5 vs the est 51.1?
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Carlo4
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In reply to Red Pear Luke (BCS) • 9:11a, 7/29/22
AG
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Brewmaster
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In reply to $30,000 Millionaire • 9:18a, 7/29/22
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$30,000 Millionaire said:
I'm going to call my shot. We will have some sell today.
I like it! I think if they wanted higher today, sideways or dip the first hour was the way to do it. and the HOD is starting to look like a blow off top.
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$30,000 Millionaire
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In reply to Red Pear Luke (BCS) • 9:22a, 7/29/22
AG
Red Pear DFW Luke said:
$30,000 Millionaire said:
I'm going to call my shot. We will have some sell today.
Still think so with Consumer Sentiment at 51.5 vs the est 51.1?


Really overbought now. What's the fuel for higher?
You don’t trade for money, you trade for freedom.
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Brewmaster
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In reply to Brewmaster • 9:23a, 7/29/22
AG
BREwmaster said:
$30,000 Millionaire said:
I'm going to call my shot. We will have some sell today.
I like it! I think if they wanted higher today, sideways or dip the first hour was the way to do it. and the HOD is starting to look like a blow off top.
or not, lol. let's just squeeze to 4500 by next week.
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irish pete ag06
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In reply to $30,000 Millionaire • 9:25a, 7/29/22
AG
This is not the recession you're looking for

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Farmer @ Johnsongrass, TX
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9:26a, 7/29/22
To the AAPL guru's in here, is $170 share price in the cards within the next 2 weeks? TIA
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$30,000 Millionaire
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9:28a, 7/29/22
AG
I'm just waiting. I believe it will commence shortly
You don’t trade for money, you trade for freedom.
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Irish 2.0
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In reply to Farmer @ Johnsongrass, TX • 9:28a, 7/29/22
Farmer @ Johnsongrass, TX said:
To the AAPL guru's in here, is $170 share price in the cards within the next 2 weeks? TIA
For what it is worth there have been zero call option sweeps over 100k purchased in the 170s with an expiration over the next two weeks
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Brewmaster
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In reply to $30,000 Millionaire • 9:29a, 7/29/22
AG
Mancini said ignore RSI when markets breakout from a downtrend. I guess he's right, I always thought RSI mattered.
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Brewmaster
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9:31a, 7/29/22
AG
4135 next resistance
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Irish 2.0
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9:31a, 7/29/22
QQQ coming into an area for a potential triple top.

5/6 - 315.09
6/2 - 314.56
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$30,000 Millionaire
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9:33a, 7/29/22
AG
Patiently waiting
You don’t trade for money, you trade for freedom.
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Txducker
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In reply to Irish 2.0 • 9:33a, 7/29/22
AG
Irish 2.0 said:
QQQ coming into an area for a potential triple top.

5/6 - 315.09
6/2 - 314.56
These are huge levels for direction sentiment. If it doesn't take that june high today, take cover.
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$30,000 Millionaire
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In reply to Brewmaster • 9:34a, 7/29/22
AG
BREwmaster said:
Mancini said ignore RSI when markets breakout from a downtrend. I guess he's right, I always thought RSI mattered.


I wouldn't ignore it, but I wouldn't short or sell just because something is overbought. It's a warning. Today is weekly opex too. Expecting some volatility.
You don’t trade for money, you trade for freedom.
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LMCane
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9:36a, 7/29/22
so the market is just going to blithely ignore 1) a literal recession entered into yesterday concurrent with 2) the highest inflation in 41 years now?

Inflation figure that the Fed follows closely hits highest level since January 1982
FRI, JUL 29 20228:36 AM EDTUPDATED 27 MIN AGO

The personal consumption expenditures price index rose 6.8% in June, the biggest 12-month move since the 6.9% increase in January 1982.

Excluding food and energy, so-called core PCE increased 4.8% from a year ago, up one-tenth of a percentage point from May.
The employment cost index, another figure Fed policymakers follow closely, rose 1.3% in the second quarter.

The index climbed 5.1% on a 12-month basis, a record for data series that goes back to 2002.
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Irish 2.0
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In reply to Txducker • 9:41a, 7/29/22
Txducker said:
Irish 2.0 said:
QQQ coming into an area for a potential triple top.

5/6 - 315.09
6/2 - 314.56
These are huge levels for direction sentiment. If it doesn't take that june high today, take cover.
SPY is an inside month. ES_F will finish ~7MM transactions short of June and ~8.5MM short of May.

The volume and lack of participation is why I'm still macro bearish right now personally.
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Txducker
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In reply to Txducker • 9:48a, 7/29/22
AG
Txducker said:
Irish 2.0 said:
QQQ coming into an area for a potential triple top.

5/6 - 315.09
6/2 - 314.56
These are huge levels for direction sentiment. If it doesn't take that june high today, take cover.
Nerd Alert. Exciting to watch qqq try and take that 314.56 level. It failed at 09:28. Trying for a second time. Is it going to be a intraday double top failure?
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Txducker
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In reply to Txducker • 9:54a, 7/29/22
AG
Txducker said:
Txducker said:
Irish 2.0 said:
QQQ coming into an area for a potential triple top.

5/6 - 315.09
6/2 - 314.56
These are huge levels for direction sentiment. If it doesn't take that june high today, take cover.
Nerd Alert. Exciting to watch qqq try and take that 314.56 level. It failed at 09:28. Trying for a second time. Is it going to be a intraday double top failure?
I buying sqqq here. I have a clearly defined stop at this level.
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irish pete ag06
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9:59a, 7/29/22
AG
Not saying we get there, but max pain for QQQ is 300 and SPY is 400.

I expect the MMs to at least try to push it closer.
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Lake08
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10:01a, 7/29/22
I must admit, this is in overbought territory. I called green all week. Now I am calling for red next week
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Txducker
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In reply to Txducker • 10:04a, 7/29/22
AG
Txducker said:
Txducker said:
Txducker said:
Irish 2.0 said:
QQQ coming into an area for a potential triple top.

5/6 - 315.09
6/2 - 314.56
These are huge levels for direction sentiment. If it doesn't take that june high today, take cover.
Nerd Alert. Exciting to watch qqq try and take that 314.56 level. It failed at 09:28. Trying for a second time. Is it going to be a intraday double top failure?
I buying sqqq here. I have a clearly defined stop at this level.
lost daily vwap now, bears taking control
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