This mirrors my feelings on this marketBREwmaster said:
I dunno, looks like domed and doomed to me... but super oversold here
Perhaps that is a bullish signal?
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This mirrors my feelings on this marketBREwmaster said:
I dunno, looks like domed and doomed to me... but super oversold here
Correct...As I've discussed in my newsletter overbought and oversold are never ever buy or sell signals alone. They do suggest potential energy for a large move though with the right trigger. In this case, a resistance must recapture. Will talk more about it in newsletter today
— Adam Mancini (@AdamMancini4) August 22, 2022
$30,000 Millionaire said:
Gross day.
Spoony Love said:
SPY is getting dangerously close to the 408-414 trading box. I suspect we trade there again by month's end. Fed meeting this week may put us there.
Also, there is still a gap to fill down to 412.75
Closing out $415 $SPY puts. What a day
— Freedom Costs More Than Being Concerned... (@oldarmy1) August 22, 2022
I do. Well worth the $23/month. He details his trading everyday and provides lessons in his newsletter. Good educational material for newish traders.irish pete ag06 said:
Anyone subscribe to Mancini? Think I'm gonna fire that up.
Bulls best use this next drop for a reversal pivot or its curtains to 4100. pic.twitter.com/zUzAGq4sWO
— Freedom Costs More Than Being Concerned... (@oldarmy1) August 22, 2022
never bullish. dreaded H pattern (see OA tweet).Fightin_Aggie said:This mirrors my feelings on this marketBREwmaster said:
I dunno, looks like domed and doomed to me... but super oversold here
Perhaps that is a bullish signal?
I wish! I was hoping for that upward push towards 200DMA for layering more. I entered the $415 DAILIES after I exited the expiring $420's. I exited these into the 4140 sell off and now have no SPY puts. That kinda sucks but no one is perfect. Really hoping any more downside quickly moves back with late day bargain hunting buying so I can determine next entry.wanderer said:
Assume these are the 9/12 $415 puts?Closing out $415 $SPY puts. What a day
— Freedom Costs More Than Being Concerned... (@oldarmy1) August 22, 2022
Yeah I didn't want to mess with potential rip off 4140 this late in the day when bargain buying sometimes comes in.wanderer said:
Thanks OA. I just exited the rest of my 9/12 415p. From $3.50 to 8.25.
Also unloaded my 8/22 $420p (from Friday) this morning at $4.25 (at 6.75 now....)
Golf1 said:
FJ43 you still holding your puts from over the weekend?
FJ follows the disciplines of taking the juicy meaty part of a trade. Some see that as leaving some on the table. We see it as setting the table with steak and lobster....FJ43 said:Golf1 said:
FJ43 you still holding your puts from over the weekend?
Nope all out. Trimmed a little VIX calls here as well.
Edit: I should have held some but was driving and took the large gain. Would have been another 2X on top.
After the loss of 4200 key support in #ES_F, its been a non stop grind down. 4160, 4145 targets, no demand yet. 4100 next
— Adam Mancini (@AdamMancini4) August 22, 2022
Worth noting: 4hr RSI(5) now most oversold in 2022, despite only a few red days. Squeeze potential, but bulls need to clear resistance to trigger (4160 now) https://t.co/fEfpRsd6lP
THIS! I sold my 415p at 5 this morning (Paid 0.9). Could have had over 7 but was working and couldn't watch it so the limit sell it was.oldarmy1 said:FJ follows the disciplines of taking the juicy meaty part of a trade. Some see that as leaving some on the table. We see it as setting the table with steak and lobster....FJ43 said:Golf1 said:
FJ43 you still holding your puts from over the weekend?
Nope all out. Trimmed a little VIX calls here as well.
Edit: I should have held some but was driving and took the large gain. Would have been another 2X on top.
I think we will hit 4150 in a rally here.oldarmy1 said:
Mirror to Friday here
oldarmy1 said:FJ follows the disciplines of taking the juicy meaty part of a trade. Some see that as leaving some on the table. We see it as setting the table with steak and lobster....FJ43 said:Golf1 said:
FJ43 you still holding your puts from over the weekend?
Nope all out. Trimmed a little VIX calls here as well.
Edit: I should have held some but was driving and took the large gain. Would have been another 2X on top.
$30,000 Millionaire said:I think we will hit 4150 in a rally here.oldarmy1 said:
Mirror to Friday here