Been sitting on a pile of cash for a few weeks. Averaging way down on TQQQ and UPRO today.

irish pete ag06 said:

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Just got my bid filled on a LABU $10 leap

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Man oh man. I was pissed at myself a couple of days ago for quickly selling at 9.70 after buying at 10, then watching it cruise to 11. Now it's 9.60 again.

Anybody been following the battle between TTT and TMF?

Ok, no longs unless over 4130.

irish pete ag06 said:

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I can see PLBY getting pumped at some point. It looks like some loading has already begun. Ticks all the boxes.

Name recognition.
Beat down.
Relative volume ticking up.

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I started a position here... currently at a 4.51 average. I have one more limit buy set to 4.42.

I will cut this if it loses $4, so a around a 10% SL.

I think market trying to bottom here but good god those premiums. I don't like racing theta.

Premiums are 7:30 AM premiums at 11. No thanks

Still getting the hang of identifying charts, but if we end up bottoming above June's low, this is the early sign of a reversal to bull market, correct?

Brian Earl Spilner said:

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Still getting the hang of identifying charts, but if we end up bottoming above June's low, this is the early sign of a reversal to bull market, correct?

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I wouldn't assume anything until we get above the last cycle high

didn't like 4120 so down we go again

$30,000 Millionaire said:

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Brian Earl Spilner said:

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Still getting the hang of identifying charts, but if we end up bottoming above June's low, this is the early sign of a reversal to bull market, correct?

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I wouldn't assume anything until we get above the last cycle high

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Didn't we do that earlier this month?

I'm with you on PLBY. It was one of my favorite shorts last year but I think it's a good spot to try a long.

I get that no one ever truly knows the why, but is the general sentiment that we got oversold and some hopes of lesser rate hikes prompted just enough buying that we squeezed upwards a bit? Then when that didn't happen all of the new buys sold along with others and people extending short positions since there's less risk now?


Crazy looking action this week on daily charts. Big gap down to open Monday, then inverted red hammer, then two days of unbridled euphoria, then pestilence, famine, and death.

I think the expectation was that Powell had no intention of a Volcker type break, and Powell actually name dropped and referenced the Volcker strategy this morning.

But who knows

M4 Benelli said:

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Triple_Bagger said:

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I'm with you on PLBY. It was one of my favorite shorts last year but I think it's a good spot to try a long.

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https://thefashionvibes.com/latest-news/43739.html?amp=1

May want to look at some of their new cover "models" before going "long."

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hahahahaha. That's terrible.

I'm more interested in Centerfold and merchandise though. Small position.

Whats the upcoming SPY support levels? Beyond 4120?

Wondering the same for QQQ. Just put in a limit order at $305 for long, but that's not a very informed decision on my part.

For SPY I have a 408-ish level. We lose 408 there is a small one around 404, but after that your talking 395-ish

EngrAg14 said:

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Whats the upcoming SPY support levels? Beyond 4120?

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4095, 4070

I've had 4085 as support for a while. Never thought it would be broken down this much in a day.

30k mentioned something about when it moves it will move fast and quoted a 2-4% day. Well, we are at that range. We should not be surprised about it today either. Everyone was looking to Jackson Hole as a catalyst.

They're not letting Amazon get into the gap. Feels like an inflection point again. Thoughts on a strangle?

TheCellarDoor said:

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They're not letting Amazon get into the gap. Feels like an inflection point again. Thoughts on a strangle?

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Consider everything high risk today. I'd wait until Monday or Tuesday, give the big guys time to digest what Powell said and follow their moves.

I put in some orders for AMZN put spreads. If I can realistically get >61 to fill that gap next week, I'll take that. Loto sized for sure, because I have no clue about market direction from here. I think we have at least 3:1 chance that gap fill happens, so that makes this okay for me as a lotto.

$30,000 Millionaire said:

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LABU / XBI are at demand.

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$9.50 now??

In case anyone believes in seasonality.

One more month anon. pic.twitter.com/OmQbJYYvau

— Dyme (@CryptoParadyme) August 26, 2022

eventually this thing will crater 1 last time, then sharp dip buying. but that's just a hunch.

How many more legs down we have in store for today?