end of the day was violent selling, even after hours. Usually after days like this we get continuation. I'd be shocked if we don't open Monday red.Bob Knights Liver said: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.
Stock Markets
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ES and AAPL.
Sorry for being radio silent but I just returned from my re-education camp. This week was brutal and freaking SUCKED! I thought we might have a pullback but wasn't expecting to be fed into the wood chipper feet first. I followed the thread, just couldn't comment.
This week F'ed up my timeline but I'm still in my FSLY shares and after this flush I still expect 25-30% ROI after the selling pressure dissipates in the next few weeks. I didn't sell and Powell didn't say anything to spook the markets like it did. I agree with 30K that today looked like all computer algo selling. We weather the storm, you'll make money, don't give into emotion.
Since I couldn't post, I kept my ADD ass occupied and I found something that really interests me, provided the world doesn't collapse. The March 2023 10c,12.5c and 15c are not expensive and the potential ROI is worth the risk for me. Let's take the 12.5c, They're trading at $1.30 on the ask. 10 contracts will cost $1,300 but control a 1000 shares. I believe it has the potential to fill or be in that huge gap between $20-30 by next March. Y'all can do the math. I bought some today at the close. Hell I risked more in Vegas 2 weeks ago with nowhere near the same odds.
Everyone knows I hate recommending options but I like the potential and worth the risk for me in these. I'll still trade my shares for 25-30% but I've parked options for what may be a huge payoff. This will be a boring trade that doesn't do **** until it does so consider it parked money if you follow.
Missed participating with you guys and glad to be back.
A deep red open and close in the green would be great.BREwmaster said:end of the day was violent selling, even after hours. Usually after days like this we get continuation. I'd be shocked if we don't open Monday red.Bob Knights Liver said: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.
TTT, welcome back brother! keeping my eyes on FSLY early next weekProgN said:
Sorry for being radio silent but I just returned from my re-education camp. This week was brutal and freaking SUCKED! I thought we might have a pullback but wasn't expecting to be fed into the wood chipper feet first. I followed the thread, just couldn't comment.
This week F'ed up my timeline but I'm still in my FSLY shares and after this flush I still expect 25-30% ROI after the selling pressure dissipates in the next few weeks. I didn't sell and Powell didn't say anything to spook the markets like it did. I agree with 30K that today looked like all computer algo selling. We weather the storm, you'll make money, don't give into emotion.
Since I couldn't post, I kept my ADD ass occupied and I found something that really interests me, provided the world doesn't collapse. The March 2023 10c,12.5c and 15c are not expensive and the potential ROI is worth the risk for me. Let's take the 12.5c, They're trading at $1.30 on the ask. 10 contracts will cost $1,300 but control a 1000 shares. I believe it has the potential to fill or be in that huge gap between $20-30 by next March. Y'all can do the math. I bought some today at the close. Hell I risked more in Vegas 2 weeks ago with nowhere near the same odds.
Everyone knows I hate recommending options but I like the potential and worth the risk for me in these. I'll still trade my shares for 25-30% but I've parked options for what may be a huge payoff. This will be a boring trade that doesn't do **** until it does so consider it parked money if you follow.
Missed participating with you guys and glad to be back.
AH is thinly traded and easily manipulated. I wouldn't worry too much about it. We will probably have some red next week, but I doubt we're going to have an 8% down day on Monday.
You don’t trade for money, you trade for freedom.
https://apple.news/A9c7tYrnETbeHlcACVlLAGA
WWR story about a letter of intent to sell purified micronized graphite to a battery plant
Story written by Proactive investors and Crystal Equity Research
Any truth to this story or is it a pump and dump?
WWR story about a letter of intent to sell purified micronized graphite to a battery plant
Story written by Proactive investors and Crystal Equity Research
Any truth to this story or is it a pump and dump?
I believe Crystal research used to be paid by WWR to cover their stock. They are also on a lot of the "earnings" calls asking underhanded pitch questions.
I don't actively trade my dad's retirement account anymore, but I do manage it. Largest holding is AAPL. All shares held down $126k, but due to a combination of out of money covered calls, share puts and SPY puts layered in his account ended up $1152.
The only reason is the size of move generated a big gain offset in the SPY puts. I had an array set up that I didn't do on my personal trading account, unfortunately.
I stated I wasn't sure which direction we go before markets opened yesterday. I only had a SPY $110 hedge in place, but I did have what I told everyone to have and that was 100% put protection. My account was down, but a minuscule .003%. Less than half a percent loss on a day like yesterday is a win.
I told dad next time he sends me a picture of his latest fish catch while I'm working I'm selling all of his AAPL shares....market order.....after hours.
The only reason is the size of move generated a big gain offset in the SPY puts. I had an array set up that I didn't do on my personal trading account, unfortunately.
I stated I wasn't sure which direction we go before markets opened yesterday. I only had a SPY $110 hedge in place, but I did have what I told everyone to have and that was 100% put protection. My account was down, but a minuscule .003%. Less than half a percent loss on a day like yesterday is a win.
I told dad next time he sends me a picture of his latest fish catch while I'm working I'm selling all of his AAPL shares....market order.....after hours.
If you can't beat him catching big fish, just sabotage his account. Great plan.oldarmy1 said:
I don't actively trade my dad's retirement account anymore, but I do manage it. Largest holding is AAPL. All shares held down $126k, but due to a combination of out of money covered calls, share puts and SPY puts layered in his account ended up $1152.
The only reason is the size of move generated a big gain offset in the SPY puts. I had an array set up that I didn't do on my personal trading account, unfortunately.
I stated I wasn't sure which direction we go before markets opened yesterday. I only had a SPY $110 hedge in place, but I did have what I told everyone to have and that was 100% put protection. My account was down, but a minuscule .003%. Less than half a percent loss on a day like yesterday is a win.
I told dad next time he sends me a picture of his latest fish catch while I'm working I'm selling all of his AAPL shares....market order.....after hours.
TQQQ and SQQQ
irish pete ag06 said:This is basically exactly what I did. I started a tad too early. I started 6-7 trading days ago. I also began entering SQQQ layering in over the previous 2 weeks. Maybe the biggest position I've ever had. Playing for the model T and for it to fall back into previous consolidation zones that roughly equate too 300-310 QQQ.BlitzBrother said:
Sold 40% stocks late Thursday , hedged 100% of remainder - Basically looking out until midterms , think 3,950 in the cards as a minimum on S&P500 .
So on the SQQQ chart, I am targetting 47-50. Today allowed me to move my stop to break even after averaging in.
Before folks lose their crap about longing SQQQ and TQQQ, I am not keeping this forever. It's a swing trade. Not hodl'ing this.
I also bought $30 VIX calls for 21 Sep. I got into these too early as well. Downward moves (upward moves on VIX) happen so dang fast, I didn't want to miss it. These basically got back to breakeven today since I was too early. I still see more volatility upside, so I am holding, but plan to trim soon. Potentially tomorrow.
I'm still holding SQQQ in full. My target 1 for SQQQ is the 47-50 range, specifically 47.50. Target 2 is potentially in the 70 range if we make new lows. Plan is to sell half at target 1, then manage stop loss for the other half up to the 70 range. I'm using the megaphone pattern posted above as my final target, but I won't let this turn into a loser.
Currently up 9%. Have stop losses in place for +1% for half and breakeven for half that way I make a little jingle if it completely reverses against me.
Where I could have done better on this trade was my entry. I could have been more patient and layered in over more days to have a better cost basis.
Posted an update for your question.
I am going to start trading SPY using Brian Jones's system that we've discussed in here before.
Using "the system" I will be looking to buy puts on SPY that are a week out the first time this re-tests the 50 MA.
I'll target $3-$6 OTM depending on where SPY is at at the time.
I will scale in half, then a quarter and a quarter... I will look to scale out the same way.
I will be holding these over night as long as the "sell signal" remains, but will use hard stops to protect capital.
Using "the system" I will be looking to buy puts on SPY that are a week out the first time this re-tests the 50 MA.
I'll target $3-$6 OTM depending on where SPY is at at the time.
I will scale in half, then a quarter and a quarter... I will look to scale out the same way.
I will be holding these over night as long as the "sell signal" remains, but will use hard stops to protect capital.
irish pete ag06 said:
Posted an update for your question.
Appreciate it!
irish pete ag06 said:
I am going to start trading SPY using Brian Jones's system that we've discussed in here before.
Using "the system" I will be looking to buy puts on SPY that are a week out the first time this re-tests the 50 MA.
I'll target $3-$6 OTM depending on where SPY is at at the time.
I will scale in half, then a quarter and a quarter... I will look to scale out the same way.
I will be holding these over night as long as the "sell signal" remains, but will use hard stops to protect capital.
He uses RSI as well.
You don’t trade for money, you trade for freedom.
True. As well as MACD and TTM squeeze. According to this: https://docs.google.com/presentation/d/1HJih6O1-yhdIefuQQAZpauMpPtL0-wQh2hMEFe7cFIU/edit
He also doesn't mind using the 10SMA as an entry point, but I'm gonna try to take less plays, so I'm going to use the 50 which should be instant support/resistance. And if it isn't I'll be cutting quick.
He also doesn't mind using the 10SMA as an entry point, but I'm gonna try to take less plays, so I'm going to use the 50 which should be instant support/resistance. And if it isn't I'll be cutting quick.
Have a great weekend!Friday, #ES_F formed the right shoulder of a 3 week H&S & broke it down at 4120. This controls next few weeks
— Adam Mancini (@AdamMancini4) August 27, 2022
Plan Next Week: Sell to 4020-30, bounce zone. Unless 4120 clears though, no "low" is in. 4020-30 fails, 3985, 3860 targets come direct. Detail below pic.twitter.com/noGO9Pxtcv
oldarmy1 said:
I don't actively trade my dad's retirement account anymore, but I do manage it. Largest holding is AAPL. All shares held down $126k, but due to a combination of out of money covered calls, share puts and SPY puts layered in his account ended up $1152.
The only reason is the size of move generated a big gain offset in the SPY puts. I had an array set up that I didn't do on my personal trading account, unfortunately.
I stated I wasn't sure which direction we go before markets opened yesterday. I only had a SPY $110 hedge in place, but I did have what I told everyone to have and that was 100% put protection. My account was down, but a minuscule .003%. Less than half a percent loss on a day like yesterday is a win.
I told dad next time he sends me a picture of his latest fish catch while I'm working I'm selling all of his AAPL shares....market order.....after hours.
Would you be willing to walk me / us through your hedging strategies? You do this far better than I do. I obviously know how to box shares but more interested in how you decide to hedge, how you decide on strikes / coverage / timing.
You don’t trade for money, you trade for freedom.
#VIX Cycle update with max/min profile (based on closes) pic.twitter.com/Xsy5zLzkjI
— Nautilus Research (@NautilusCap) August 26, 2022
Works until it doesn't I guess
Major L pic.twitter.com/0HPtObq8IW
— Inverse Cramer ETF (Not Jim Cramer) (@CramerTracker) August 27, 2022
Wait, this dip**** sold naked puts on margin?
You don’t trade for money, you trade for freedom.
Is it really that hard to trade within your means? I know I'm not a pro, so I don't trade anything uncovered and only what I can afford to lose. High percentage plays, take profits early and sit on my hands A LOT.
YES
I've lost a hell of a lot more than I've won the past 15 months of active trading, but I can't even sniff what that guy has done. Wow.
irish pete ag06 said:Major L pic.twitter.com/0HPtObq8IW
— Inverse Cramer ETF (Not Jim Cramer) (@CramerTracker) August 27, 2022
Yikes
No worries. He is going to make it back on Monday. That always works.
irish pete ag06 said:Major L pic.twitter.com/0HPtObq8IW
— Inverse Cramer ETF (Not Jim Cramer) (@CramerTracker) August 27, 2022
First…he needs to stop listening to Cramer.
Second….he needs to stop trading with real $. Would serve him well to paper trade for about 3-6 months.
Might be all he can do anyway.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
That guy ignored the beer candles and got attacked by the bear candles.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
Anyone reading "The Price of Time"? Edward Chancellor's new book. It's about the role of interest rates in markets and their contributions to speculation and bubbles.
I have two good friends reading it who say it's incredible. It's on my list…
I have two good friends reading it who say it's incredible. It's on my list…
This piqued my interest. So let's say that home skillet starting selling those puts at 9:45 when Cramer talked about and let's be generous and say he averaged $3 in premium at a 415P average. That's a loss of 6.70 or $670 per contract. That means he sold 75 naked puts. If you were correlating that to buying power, that's using $3.1M in margin.
I have a really hard time believing TD will give that degree of margin to someone and then lock their account when they're down $50K.
I have a really hard time believing TD will give that degree of margin to someone and then lock their account when they're down $50K.
You don’t trade for money, you trade for freedom.
Summary: I think this is trolling and fake.
If it's not, I know what the guy did. He sold fresh rounds of puts every time the market caught its breath with a couple of green candles.
If it's not, I know what the guy did. He sold fresh rounds of puts every time the market caught its breath with a couple of green candles.
You don’t trade for money, you trade for freedom.
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mc_shipman said:
Is it really that hard to trade within your means? I know I'm not a pro, so I don't trade anything uncovered and only what I can afford to lose. High percentage plays, take profits early and sit on my hands A LOT.
This dude didn't have any means. He says 50k was 5 years of his family's retirement savings so he might as well get on with his first bankruptcy and get comfortable with the facts of working till he's 70 and still having to rely on social security. If he had capital he could have bought calls and had limited loss but he likely already yolod and lost everything he had so he had to make it up, and he just knew the market would turn at 10:40 so selling puts was literally free money. Those idiots who bought them would be the ones who got screwed. That's how you lose your house in the stock market. Not by trading options, but by being a degenerate gambler.
He would have been gunning for $22K in profit. I just don't believe this is real. Put sellers aren't normally that stupid
You don’t trade for money, you trade for freedom.
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