RSI turned up, MACD widest at that $1.70 area. Daily volume is shrinking into the previous two support marks. If you're going to make an initial entry these are the times I'll do it.

Bored today, so I created this simple Brian Jones "The System" layout on Tradingview.



I remember 30K bringing this up a while back and I've been reading up on it and remotely keeping up with it. This chart just gives a clear visual of his buy and sell signals.

GOOGL right at Model T which could be a good one to keep an eye on for broader market direction while SPY is stuck in ths CHOP

Is there a way to set a stop limit on a sold naked put?

Ex) You sell a Sep naked put for $2 today and in 3 days the stock has trended in the wrong direction and now that same sold put is at $3. I realize you can always buy it back or roll it, but can you place an order that will buy it back at a set strike price that's above the current price (lets say $3.50 in this example)??

I use TD/ToS if that matters

Think there will be any action on the bull**** student loan forgiveness that's likely to be announced tomorrow?

Buck Compton said:

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Think there will be any action on the bull**** student loan forgiveness that's likely to be announced tomorrow?

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Besides a nation wide unified retching from anyone with any type of self worth.... Naaaaa

I'm opening an IBKR account, got to this part.



Anyone want to refer me?

irish pete ag06 said:

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I'm opening an IBKR account, got to this part.



Anyone want to refer me?

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I think OA has a referral link.

kyle field 94 said:

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BMIX today

Anyone seen any news?

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all i can find is this from yesterday. i'm on vacation a few days and logged in to find it was up nicely today

Brazil Minerals Substantially Increases the Size of its Main Lithium Exploration Area - https://t.co/4NJqsA3XrA pic.twitter.com/VwtWvNMa6N

— Brazil Minerals BMIX (@BMIXStock) August 22, 2022

irish pete ag06 said:

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I'm opening an IBKR account, got to this part.



Anyone want to refer me?

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Here you go. Any $ received will be donated to charity.

https://ibkr.com/referral/brian1067

Anyone trade off of my purple posted ranges from this morning?

Pretty meh week so far. Accumulating TQQQ/UPRO at least.

Man y'all are a quiet bunch this week. Not much for me to read and catch up on at night.

Let's go gents!

Do the Jackson Hole meetings have any specific times to know about? I know it's a couple of days but do things just end up getting leaked?

Even though it won't happen, just how much would we rip with a 50 bps announcement?

Been cleaning the shop. Sadly, I don't do my chart piddling until everyone is likely asleep on this thread

FJ43 said:

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Man y'all are a quiet bunch this week. Not much for me to read and catch up on at night.

Let's go gents!

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Fine, I'll discuss the trade of the day for me today. Nothing confirmed this morning, so I was just sitting on my hands.

I saw NFLX was backtesting 230 and decided I'd go for a rejection trade. Reason being, I am short term bearish on NFLX after the downgrade yesterday, and it sliced down through 230 pretty violently yesterday, tried to reclaim it twice, and couldn't.

Rejections aren't usually my type of trade, so I went down to half size, and was going to give it a short leash, with a stop loss over 230.50. Threw out a limit short at 229.88. It filled when NFLX reached its HOD at 229.90, and started working it's way back down. Covered 1/3 at 228.33, then covered the next 1/3 just above yesterday's LOD at 224.85. My target on the final 1/3 was 222.65, and I moved my stop loss on these down to what would be just above the model T from HOD to LOD... set it for 227.12, which was eventually hit. NFLX trades thin, so I should have given a little more leash on that final bit, because it didn't go higher than 227.24 before working its way back to the LOD.

The UUP calls entered last year worked out great, cashed out last month. Now loading up with $28 UUP puts to capture a potential rally late 2022 into 23. Looks like could be a failed breakout on 2nd resistance test...will cut losses if not.

Might be worth a look for some option leverage without too much inflated premium.

*basically shorting the DXY (usd)

Golf1 said:

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Do the Jackson Hole meetings have any specific times to know about? I know it's a couple of days but do things just end up getting leaked?

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Constant comments, but Friday 9:00am Central is the Powell speech, and all that matters.

FJ43 said:

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I say lets rip to SPY 423 tomorrow.

Why not.

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I think we get a buyable dip tomorrow. Can't imagine not testing 4100 while here, but could happen overnight.

wanderer said:

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Is there a way to set a stop limit on a sold naked put?

Ex) You sell a Sep naked put for $2 today and in 3 days the stock has trended in the wrong direction and now that same sold put is at $3. I realize you can always buy it back or roll it, but can you place an order that will buy it back at a set strike price that's above the current price (lets say $3.50 in this example)??

I use TD/ToS if that matters

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Yes, I use it for credit spreads all the time. When you set a stop at a higher price than what was sold, it recognizes that the order won't get triggered until that price is reached. Here is the description:

Nice, will have to look at this. Thanks!

I didn't, but only b/c I missed the first couple hours this morning. I almost took puts around 10:45, as it was making lower highs and lower lows. Those would've paid. Shoulda coulda woulda though.

Keep posting these! I need to get my butt in gear and get back to disciplined scalping.