ProgN said:

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Irish 2.0 said:

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Keep your eyes on the SPY 409.5 is the 5DMA

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Stonks only go up.

It sure seems like those days are coming back.

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I've been watching this basing and only been scalping the last few days. This basing is reminding me of the beginning of June.

Closed out all my crwd september calls, holding core share position

Think i might get me some more of them uvxy calls

Yeah, I've been dancing and scalping $U but I think that everything is extended. $U has gone up about 30% in a week on increasing volume. It also is in a tightening bolly which could be setting up for a nice squeeze.

The 10:01 candles on SPX and QQQ. What a bunch of bull***** I got chopped up pretty good with that action.

I think we blast off here over the next 15 minutes.

Bob Knights Liver said:

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Ragoo said:

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I'd really like to see a sell off in Tesla

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It looks like it's going to open above all major MAs and the upper BB today. This would be prime for a pullback. Otherwise I think it has $955.50 in it's sites.

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Or TSLA bounces around it's opening price while everything else takes off.

Missed that SPY pullback by .02 on my limit order.

Fed members continue to walk back Powell's dovish comments from last week:

https://www.cnbc.com/2022/08/03/feds-bullard-sees-more-interest-rate-hikes-ahead-and-no-us-recession.html

Adios HKD.

4th touch usually breaks.

I'm going to use futures trader terms for a second here. We are forming what is called a high volume node or HVN. These act as support and resistance. If we clear this, we are going up, most likely.

What does give me some pause is that there hasn't been action above the 4140 area this week and there was not a lot of time spent in the 3900s - 4000s.

BaylorSpineGuy said:

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Adios HKD.

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What's with this thing? Massive run up but on ZERO volume. I don't know if I've seen something like this

Danwell Home said:

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BaylorSpineGuy said:

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Adios HKD.

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What's with this thing? Massive run up but on ZERO volume. I don't know if I've seen something like this

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Money laundering

I'm skipping out for a few hours.

If I were trading, wait for clean breakout to get long.

I don't understand the actual act of laundering money through publicly traded securities. There is zero volume and massive bid ask spreads. It's like you have a few shareholders just jockeying around.

Something is for sure off and everyone can see it. Regulators just have to follow the $$.

Danwell Home said:

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I don't understand the actual act of laundering money through publicly traded securities. There is zero volume and massive bid ask spreads. It's like you have a few shareholders just jockeying around.

Something is for sure off and everyone can see it. Regulators just have to follow the $$.

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Money is being laundered through the stock from China back to U.S. Banks and Hedge Funds so they can meet collateral.

Danwell Home said:

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I don't understand the actual act of laundering money through publicly traded securities. There is zero volume and massive bid ask spreads. It's like you have a few shareholders just jockeying around.

Something is for sure off and everyone can see it. Regulators just have to follow the $$.

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Why would regulators interfere with the Biden's laundering money through China on a day that pelosi steals the headlines with a trip to Taiwan?

What y'all think about LYFT? The call option premium is insane

Cut losses on my SPY puts. Thought for sure it would bounce hard off that top channel.

I'm guessing SPY wants the ultimate Model T to the 4220 range. If it does, I will go obnoxiously heavy into puts!

Lake08 said:

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What y'all think about LYFT? The call option premium is insane

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Premium is sympathetic on Uber's move. It is an earnings play. I always advice against playing ER

Well I cut losses on 2/3 of my SQQQ and put it into TQQQ, which I'm glad I did, but man that last 1/3 of SQQQ is in awful shape right now. Wondering if I should just take the hit or wait for even a tiny reversal.

I am buying ONTX. Trying to get 1.45

Not huge. Volume is very high

"When it comes time to short the market again, you won't want to." Walter Deemer

Seems to apply here. Agree that a correction is due soon but things can stay oversold for a while.

Time to start thinking about going back long into QQQ?

I want you to look at the ATR bands of QQQ and tell me if this is the best entry?

I mean my target entry ($295) is looking pretty unlikely at this point.

What would you target?

Very weird action on TSLA today when you follow the 1-min price and RSI compared to SPX, QQQ, and VIX. It seems like TSLA lags most upward movement in price today and it's RSI ranges indicated bearishness most of the morning. However it's had a handful of huge green 1-min candles that compensate for the lagging. If you're playing long but missed those candles, you've likely lost money today. If you're playing short those few candles hurt you.

It's just really odd. It feels like artificial price dampening and then those shares or shorts are bought back in 1-2 minute spurts. That our someone selling a lot of shares and trying to create liquidity by these explosive single minute large volume buys.