The set up sucked in a bunch of people unfortunately. Talking of new highs and hundreds of points higher. Recipe for a disaster. They used the gap as that fire attractant for the moths. Even I was intrigued by it and thought we'd get it closed but no way way I touching the markets after a big moving day towards a gap. Seen it used as bait too many times over the years.$30,000 Millionaire said:
T&Ps for the people who bought SPX 4200 calls this morning. They got murdered!!!
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this will be sub 4k Monday a.m. It's like murder algo is flipped on and pissed off. Already very oversold, but it doesn't give a damn
I almost played puts around 9:00 this morning, as it was selling off from the high of the day. Almost, then got busy watching the little man and work. Oh well, better luck next time.
I almost played puts around 9:00 this morning, as it was selling off from the high of the day. Almost, then got busy watching the little man and work. Oh well, better luck next time.
$30,000 Millionaire said:$30,000 Millionaire said:
We like to say rule 1 is risk management. I think rule 0 would be knowing when to stay away.
Repeating for all.
Hold on. Say it one more time for the stupid WestTexAg that tried a couple of calls and got burned today…
Continuing to collapse after hours.
loads of NVDA puts next week, even into the closeEngrAg14 said:
NVDA setup for inverse W.
Likely drops to 154 in next 2 weeks if not sooner.
Split it into two orders AH and already hit the second at 29.90.Brian Earl Spilner said:
Did not think TQQQ would hit my 30.05 limit today.
Does it get there?
Where does it go?
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Bob Knights Paper Hands
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TheCellarDoor said:
AMZN squarely in the gap now. Premiums are juiced, but that 127p looks tasty (ironically where I got called out on my CC's a few weeks ago after earnings).
It was funny that AMZN bounce at 130.50 this afternoon was the close of a gap back in April. I didn't think that point mattered anymore as support since the gap was filled already. I just thought it was an interesting place for some support.
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Sold enough AMZN put spreads for next week to go net free. Holding 2 of the 125/122 and 7 of the 126/122 over the weekend.
I was scanning quick because a meeting was about to start and didn't even realize I was replying to McInnisirish pete ag06 said:
He's still on twitter.
Long live SQQQ
New Braunfels representirish pete ag06 said:
Long live SQQQ
Dated her growing up, no joke.Ragoo said:New Braunfels representirish pete ag06 said:
Long live SQQQ
Did you kiss nightly beside the green green grass?
Pretty much, she didn't turn **** until later in high school.
You guys are way too pessimistic. There will definitely be trading over 4100 next week.BREwmaster said:
this will be sub 4k Monday a.m. It's like murder algo is flipped on and pissed off. Already very oversold, but it doesn't give a damn
I almost played puts around 9:00 this morning, as it was selling off from the high of the day. Almost, then got busy watching the little man and work. Oh well, better luck next time.
You don’t trade for money, you trade for freedom.
I wouldn't be shocked if they drove price down to get your shares cheap only to absolutely rip on Monday.
You don’t trade for money, you trade for freedom.
"Don't fight the fed" trending again. Powell wants pain. Anyone looking for SPY premiums to settle to ride this, or is there a potential squeeze with so much downside consensus after today?
Failed breakouts and failed breakdowns seems to be the go to setup lately.
Failed breakouts and failed breakdowns seems to be the go to setup lately.
No, I just lean towards continuation into Monday morning. I definitely think by end of next week we could be around 4100. Although that depends on when they reverse this thing.$30,000 Millionaire said:You guys are way too pessimistic. There will definitely be trading over 4100 next week.BREwmaster said:
this will be sub 4k Monday a.m. It's like murder algo is flipped on and pissed off. Already very oversold, but it doesn't give a damn
I almost played puts around 9:00 this morning, as it was selling off from the high of the day. Almost, then got busy watching the little man and work. Oh well, better luck next time.
Hard to say. There will be action overnight in futures. The market always over reacts. Not saying it's over, but it looks for catalysts to make its move.
I don't think we've seen lows of the year yet, though.
I don't think we've seen lows of the year yet, though.
You don’t trade for money, you trade for freedom.
Agree I think we trade to/over 4100 next week. However I'd be careful for a dead cat bounce IMO to anyone thinking long. That 50 will be fun to watch. Lower trendline will be interesting if we head for lower low or maintain higher low.$30,000 Millionaire said:
Hard to say. There will be action overnight in futures. The market always over reacts. Not saying it's over, but it looks for catalysts to make its move.
I don't think we've seen lows of the year yet, though.
I lotto'd long for next wed expiry at the close. But....kept my Sept 20 VIX calls intact as I don't think the volatility is over.
Cloned parallel and low added.
Does 59 win to 4600 from across the pond or do the shorts get the victory to charity?
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
52 week low is 3636. Do we get back there again?
irish pete ag06 said:
Long live SQQQ
If you are currently holding this when do you get out?
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Jet Black said:
52 week low is 3636. Do we get back there again?
That's a long way, but it could. If we confirm under the 50-day we may continue this megaphone pattern that Irish Pete posted.
Guess we will see, looking at the Skew we aren't done yet. I think we have better chance of seeing 3900's than 4100's early next week, but will just play day by day. No positions currently.
I will buy 3900s.
You don’t trade for money, you trade for freedom.
I sold out of almost everything in my trading account. Booked some losses. I did so because they were even bigger losses at the beginning of July and the daily chart shows what looks like a clear reversal.
Agree....I posted SKEW a few days ago and circled shooting stars.lobwedgephil said:
Guess we will see, looking at the Skew we aren't done yet. I think we have better chance of seeing 3900's than 4100's early next week, but will just play day by day. No positions currently.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
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Ragoo said:
I sold out of almost everything in my trading account. Booked some losses. I did so because they were even bigger losses at the beginning of July and the daily chart shows what looks like a clear reversal.
I don't disagree with what you did here and I'm not keeping much overnight in anything but long-term accounts, but I found this relative
If you are long a position and go to sell are you prepared to go short at the same time? If not why are you selling your long
— PacMan (@MillionaireBiz1) August 26, 2022
We got there and more. Impressive move today. Looking forward to next weeks action. Think it will be volatile.Ag CPA said:Triple_Bagger said:
-900 is more likely. Everyone who thought the Fed was done with rate hikes and would reverse soon are exiting their positions. Powell confirmed more rate hikes are coming and they plan to hold them there for a while.
o actually did think about selling short at the same time. Had an order open but felt like over doing it so decided to wait the weekend and see what Monday brings.Bob Knights Liver said:Ragoo said:
I sold out of almost everything in my trading account. Booked some losses. I did so because they were even bigger losses at the beginning of July and the daily chart shows what looks like a clear reversal.
I don't disagree with what you did here and I'm not keeping much overnight in anything but long-term accounts, but I found this relativeIf you are long a position and go to sell are you prepared to go short at the same time? If not why are you selling your long
— PacMan (@MillionaireBiz1) August 26, 2022
Yes you did. Good eye for sure.FJ43 said:Agree....I posted SKEW a few days ago and circled shooting stars.lobwedgephil said:
Guess we will see, looking at the Skew we aren't done yet. I think we have better chance of seeing 3900's than 4100's early next week, but will just play day by day. No positions currently.
The blue SR is Model T or about Fib 50 of today's H/L. Interesting where that end up over the daily ranges. Personally I'd love a opening up and run to that then reject violently. But then of course I'm sick like that....
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Question for everyone.....
If you could only trade two things which two would they be?
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Bob Knights Paper Hands
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FJ43 said:
Question for everyone.....
If you could only trade two things which two would they be?
Used to be SPX and TSLA before the Musk selling and split over the past few weeks. Right now it'd say SPX and QQQ until I see how TSLA trades post split.
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