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FJ43
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In reply to $30,000 Millionaire • 5:22a, 8/17/22
$30,000 Millionaire said:
GreasenUSA said:
Golf1 said:
Anyone have any puts in BBBY? is it worth it or should I just let it go?
I gave the 20P a shot with a lotto today when it came off its first halt. The stock dropped from over 27 to around 24, and the 20P moved from about 1.90 to 2.15. Granted, later in the day when it dropped below 20, the 20P was hitting over 4.00. But, premiums are just too inflated to catch much value out of them. Would be better off with shares, imo.
I have decided just not to play on Meme stocks, either way.

Proverbs 13:11

Wisdom…….
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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Bob Knights Paper Hands
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5:53a, 8/17/22
Looking at the controlled march down in S&P500 futures it looks like "smart" money since it's so controlled. However if they were really dumping shares they would have done it when there's more liquidity during the cash session, right?

So what is this? Using Fed as an excuse to get better entry for more shares? Did something leak?
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Bob Knights Paper Hands
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6:10a, 8/17/22
Daxx and Stoxx are marching down as well, though their volume isn't very large during that time. The Nikkei didn't follow, but Nikkei futures have been marching down after it closed. Any ideas or theories as to what's going on? This doesn't look like normal consolidation or market taking a rest to me.
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Red Pear Luke (BCS)
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In reply to FJ43 • 7:21a, 8/17/22
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FJ43 said:
$30,000 Millionaire said:
GreasenUSA said:
Golf1 said:
Anyone have any puts in BBBY? is it worth it or should I just let it go?
I gave the 20P a shot with a lotto today when it came off its first halt. The stock dropped from over 27 to around 24, and the 20P moved from about 1.90 to 2.15. Granted, later in the day when it dropped below 20, the 20P was hitting over 4.00. But, premiums are just too inflated to catch much value out of them. Would be better off with shares, imo.
I have decided just not to play on Meme stocks, either way.
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tbare89
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7:33a, 8/17/22
AG
BBBY is running in premarket. I would be careful putting outs on that steam. Maybe wait a week for it to die down or try to time a mid day pullback like yesterday
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Brian Earl Spilner
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7:36a, 8/17/22
AG
I know buying BBBY is a gamble in the first place and I got pretty lucky yesterday, but to buy puts on a meme stock seems like an even worse idea to me...
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Red Pear Luke (BCS)
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7:41a, 8/17/22
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BBBY, FUBO and APRN are all up quite a bit pre-market.
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GreasenUSA
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In reply to Brian Earl Spilner • 7:42a, 8/17/22
AG
Brian Earl Spilner said:
I know buying BBBY is a gamble in the first place and I got pretty lucky yesterday, but to buy puts on a meme stock seems like an even worse idea to me...
Options are a great way to define your risk. With this in mind, puts can be a safer way to short a stock you are bearish on. Not to mention that many brokers aren't currently allowing shorts on BBBY equity, so options would be your only choice.

I never touch meme stocks, but BBBY was due for a pullback up near its resistance around 30. The trade would have worked out nicely if Etrade would have allowed me to short equity, but the premium in the options ended up being too inflated to catch much of a move. Got out for a 10% gain.
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irish pete ag06
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7:49a, 8/17/22
AG
Is this our catalyst

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Charismatic Megafauna
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In reply to Bob Knights Paper Hands • 7:56a, 8/17/22
AG
Bob Knights Liver said:
Daxx and Stoxx are marching down as well, though their volume isn't very large during that time. The Nikkei didn't follow, but Nikkei futures have been marching down after it closed. Any ideas or theories as to what's going on? This doesn't look like normal consolidation or market taking a rest to me.

This was my thought on yesterday's pullback. Selling seemed controlled/coordinated without huge volume until they started to catch some stops, then it got caught with plenty of buying volume. Felt like a fake bad news leak/ sell when it was really a good news leak/ share steal, or no leak and simply a share steal for continued upward climb

That's my insufferable permabull conspiracy theory, anyway
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slacker00
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In reply to GreasenUSA • 7:59a, 8/17/22
AG
It ruins your defined risk aspect of using options, but selling is calls works better than buying puts when the premiums are crazy.
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GreasenUSA
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In reply to slacker00 • 8:04a, 8/17/22
AG
slacker00 said:
It ruins your defined risk aspect of using options, but selling is calls works better than buying puts when the premiums are crazy.
Yeah, I purposely set my options clearance on my income account one level below being able to sell calls. Didn't want the temptation. Don't tell Prog, lol.
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Brewmaster
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In reply to Red Pear Luke (BCS) • 8:16a, 8/17/22
AG
Red Pear BCS Luke said:
BBBY, FUBO and APRN are all up quite a bit pre-market.
SST had a ton of flow before close yesterday too. size buying on the Sept 15C. Squeeze flow if you want to call it that.

if you play it, YOYO! your on your own!
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$30,000 Millionaire
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8:24a, 8/17/22
AG
This is no man's land for me. Going to just see what happens for a bit
You don’t trade for money, you trade for freedom.
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$30,000 Millionaire
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In reply to GreasenUSA • 8:25a, 8/17/22
AG
GreasenUSA said:
slacker00 said:
It ruins your defined risk aspect of using options, but selling is calls works better than buying puts when the premiums are crazy.
Yeah, I purposely set my options clearance on my income account one level below being able to sell calls. Didn't want the temptation. Don't tell Prog, lol.


I sell naked calls but only when I have the buying power to buy the shares if it gets close.
You don’t trade for money, you trade for freedom.
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Brian Earl Spilner
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In reply to GreasenUSA • 8:31a, 8/17/22
AG
GreasenUSA said:
Brian Earl Spilner said:
I know buying BBBY is a gamble in the first place and I got pretty lucky yesterday, but to buy puts on a meme stock seems like an even worse idea to me...
Options are a great way to define your risk. With this in mind, puts can be a safer way to short a stock you are bearish on. Not to mention that many brokers aren't currently allowing shorts on BBBY equity, so options would be your only choice.

I never touch meme stocks, but BBBY was due for a pullback up near its resistance around 30. The trade would have worked out nicely if Etrade would have allowed me to short equity, but the premium in the options ended up being too inflated to catch much of a move. Got out for a 10% gain.
That's the thing, these are wsb apes you're dealing with. You can't apply reason to anything this stock will do.
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ProgN
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In reply to GreasenUSA • 8:34a, 8/17/22
GreasenUSA said:
slacker00 said:
It ruins your defined risk aspect of using options, but selling is calls works better than buying puts when the premiums are crazy.
Yeah, I purposely set my options clearance on my income account one level below being able to sell calls. Didn't want the temptation. Don't tell Prog, lol.
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BaylorSpineGuy
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In reply to ProgN • 8:46a, 8/17/22
You're alive! I thought a stripper got you in Vegas!
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GreasenUSA
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In reply to Brian Earl Spilner • 8:47a, 8/17/22
AG
Brian Earl Spilner said:
GreasenUSA said:
Brian Earl Spilner said:
I know buying BBBY is a gamble in the first place and I got pretty lucky yesterday, but to buy puts on a meme stock seems like an even worse idea to me...
Options are a great way to define your risk. With this in mind, puts can be a safer way to short a stock you are bearish on. Not to mention that many brokers aren't currently allowing shorts on BBBY equity, so options would be your only choice.

I never touch meme stocks, but BBBY was due for a pullback up near its resistance around 30. The trade would have worked out nicely if Etrade would have allowed me to short equity, but the premium in the options ended up being too inflated to catch much of a move. Got out for a 10% gain.
That's the thing, these are wsb apes you're dealing with. You can't apply reason to anything this stock will do.
But really.. that is the thing. Technical analysis can still be applied on these. They are liquid, and susceptible to the market emotions that allow technical analysis to work. The big funds are jumping on these, as well.

You say it's a gamble. I do everything I can to eliminate, or at least minimize, the gambling aspect of trading.

As I mentioned, 30 is resistance. You can see that on the chart from months back. Guess where it stopped pre-market. Guess where it stopped on the opening candle of the day. That's a tradeable level. On both sides now.
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ProgN
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In reply to BaylorSpineGuy • 8:47a, 8/17/22
BaylorSpineGuy said:
You're alive! I thought a stripper got you in Vegas!
No, but I did oversleep Monday and missed my flight so I had to fly back last night.


It was great to get away though.
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FrioAg 00
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8:54a, 8/17/22
AG
Ok, maybe this isn't the right thread - as this focuses much more on trading. But I'll ask it anyway.

What is going on with this run back up in valuation? Obviously it's market confidence but what is the market reacting to?


Inflation has likely cooled, but prices certainly aren't going to fall downward. The fed also just committed to more fluff spending, which will drive inflation even higher long term.

Interest rates are continuing to rise. The fed balance sheet is spent, so it doesn't have dry powder to stimulate anything once these interest rates slow things down.

Home sales metrics have reacted pretty harshly. Big companies are actively positioning for a recession (layoffs). Yield curves are still flashing red lights.


I can maybe understand why the market would have stagnated instead of plunging lower, but I cannot understand this 20% rise off the bottom this quickly.
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irish pete ag06
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9:09a, 8/17/22
AG


AAPL
VIX
SQQQ

only green things on my watch list, hahaa
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irish pete ag06
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In reply to $30,000 Millionaire • 9:13a, 8/17/22
AG
$30,000 Millionaire said:
irish pete ag06 said:
59 South said:
gougler08 said:
Also, anyone have thoughts on FUBO finally having good earnings and seeming to bounce? Something to add or just leave alone?


Tough one. Could go to 100 or 0. I'm bagholding to be very honest. I was and maybe still am sold on their idea of interactive sports betting.
For those who've been around markets cycles like we are in...


Are high beta growth stocks like FUBO the first to bottom and also the first to start exploding when the market shifts back bullish...

Are they a bit of a leading indicator that a macro reversal has occured?

Or are they last? Or is there no correlation?


The generals are the last to bottom and first to recover.

Amazon, Microsoft, Nvidia, Berkshire etc
Is AAPL the ultimate general in this day and age?
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Chipotlemonger
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In reply to FrioAg 00 • 9:14a, 8/17/22
AG
I know that the real estate market has slowed down, but it seems anecdotally from the B&I board and other sources that consumer spending has been strong. Some slow down with recession fears, but demand for travel, luxury goods, experiences are high.

That, coupled with a correction based on the improved inflation data, has got this bump going.

I'm just pontificating though, smarter people around here with better more technically sound answers I am sure.
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Brewmaster
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In reply to FrioAg 00 • 9:16a, 8/17/22
AG
FrioAg 00 said:
Ok, maybe this isn't the right thread - as this focuses much more on trading. But I'll ask it anyway.

What is going on with this run back up in valuation? Obviously it's market confidence but what is the market reacting to?


Inflation has likely cooled, but prices certainly aren't going to fall downward. The fed also just committed to more fluff spending, which will drive inflation even higher long term.

Interest rates are continuing to rise. The fed balance sheet is spent, so it doesn't have dry powder to stimulate anything once these interest rates slow things down.

Home sales metrics have reacted pretty harshly. Big companies are actively positioning for a recession (layoffs). Yield curves are still flashing red lights.


I can maybe understand why the market would have stagnated instead of plunging lower, but I cannot understand this 20% rise off the bottom this quickly.
You know the answer. If it were that easy everyone would be making tons of money in this market. The market is just moving to where it will hurt the most.
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Saltyag15
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In reply to FrioAg 00 • 9:17a, 8/17/22
AG
Same. This run up represents a little glimmer of hope for a couple of reasons, in my opinion.

1. The bulk of quarterly earnings season has come and gone, and for the most part, earnings were very good considering the circumstances.

2. Inflation, even though we're still at an alleged 8.5% (many believe the true number is higher), finally showed it's first slow down or pull back in a very long time.

Even with these two events, I still don't see a sustainable long-term run up in these economic conditions. But, as has been pointed out many times in this thread, the market and the economy are not the same thing. They do not have to correlate together. This is just general bull sh**, and my two cents.
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Dan Scott
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9:35a, 8/17/22
AG
oil stocks spiking
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Dan Scott
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9:46a, 8/17/22
AG
Is market going to rest here until Fed minutes come out? Daily RSI below 70 now. I think RSI cools off a little bit before igniting the continued rally. It would be too easy for the market to go all the way up to 200MA then sell off. I'm thinking it's resting for a false breakout above the 200.
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Triple_Bagger
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9:51a, 8/17/22
SAVA sure was fun this morning.
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Swollen Thumb
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9:53a, 8/17/22
AG
What's the news moving SAVA. I saw an insider (CFO) purchase reported yesterday but doon't see anything else. Are shorts covering? If so, I expect another hit piece to come through in 3...2...1.
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Brewmaster
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In reply to Dan Scott • 10:07a, 8/17/22
AG
I can buy that. The longer it sits below 4270 though, I think the greater chance it caves to 4235.
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$30,000 Millionaire
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10:07a, 8/17/22
AG
Weird day today.
You don’t trade for money, you trade for freedom.
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Charismatic Megafauna
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In reply to irish pete ag06 • 10:09a, 8/17/22
AG
irish pete ag06 said:


AAPL
VIX
SQQQ

only green things on my watch list, hahaa

No sava?
Que lastima!
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Dan Scott
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10:11a, 8/17/22
AG
THose oil stock gave up gains just as quickly as they spiked. ANy news?
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wanderer
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10:16a, 8/17/22
ENVX trying to model-T all in 1 day?
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