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25,069,274 Views | 233828 Replies | Last: 25 min ago by 59 South
wanderer
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Pretty orderly stairstep down
Bob Knights Paper Hands
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We are at the bottom of the bear supply zone on the 1-min and 1-hr charts for SPX and QQQ. It feels like we have to bounce soon. However, this is pretty angry selling right now.

I closed out 15 of my AMZN short shares to pay back my call lotto BS. I moved the stops on the others to my cost of $128.55.
Dan Scott
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AG
APRN going!
Spoony Love
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AG
Nice.

I know it isn't high volume but with that increase it was some serious selling. I'm guessing we have more later on today.
ProgN
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59 South said:

Triple Bagger watching his chart right now....


$30,000 Millionaire
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AG
Spoony Love said:

Nice.

I know it isn't high volume but with that increase it was some serious selling. I'm guessing we have more later on today.


Latest trade is for you


You don’t trade for money, you trade for freedom.
Brewmaster
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AG
sts7049 said:

i can't understand why you are going long right now
no one can, lol
$30,000 Millionaire
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AG
I hope you sold that. Lesson for you - any time a candle looks like that, dump it.
You don’t trade for money, you trade for freedom.
Brewmaster
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ProgN said:

59 South said:

Triple Bagger watching his chart right now....



seen this one? lol

BaylorSpineGuy
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Should've trusted my judgment on LNG! It's down 15 pts in like 3-4 trading sessions. Ugh!
$30,000 Millionaire
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BREwmaster said:

sts7049 said:

i can't understand why you are going long right now
no one can, lol
He will be right. Just watch.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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BaylorSpineGuy said:

Should've trusted my judgment on LNG! It's down 15 pts in like 3-4 trading sessions. Ugh!
Always trust your judgment.
You don’t trade for money, you trade for freedom.
Triple_Bagger
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59 South is a man of his word. Cheers!
Brian Earl Spilner
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BREwmaster said:

sts7049 said:

i can't understand why you are going long right now
no one can, lol
If you can't understand why I'd want to buy QQQ at $300 for a long term hold then I don't know what to tell you.

And if it dumps to $290, know what I'll do? Buy some more.
irish pete ag06
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AG
I'm swinging this for a big gain. I have moved my stops up. Half at a limit sell of 48.
Other half I plan to attempt to ride to the bottom of the megaphone. Moving stops up the whole way.
sts7049
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AG
Dan Scott
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APRN getting close to breakout. GO BABY GO!!
Dan Scott
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APRN BOOM!!!!
irish pete ag06
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$30,000 Millionaire
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You know what people are going to like less than inflation? No jobs.

F the fed. They're playing with peoples lives.
You don’t trade for money, you trade for freedom.
oldarmy1
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FIGS chart set up looks excellent for a breakout move.

irish pete ag06
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Yep
oldarmy1
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I've come to collect receipts on my overnight puts. Granted you could have entered them at the open as well, but did you?
Dan Scott
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A big green account when the market is falling is better than sex
$30,000 Millionaire
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Yes, but made more playing the easy bounces.
You don’t trade for money, you trade for freedom.
oldarmy1
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oldarmy1 said:

FIGS chart set up looks excellent for a breakout move.


Went with 100 Oct 21 $12.50 FIG calls.
wanderer
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Recently retraced to model T and bounced, big volume a few days ago, EMAs are tight
oldarmy1
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AG
Check the bookend trade it gave. Wish I had seen it back then in the $7's!
Dan Scott
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ouch that APRN dump. Stays above $6.40 I think is healthy.
BlueTaze
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SPX coiling for move on the 5 min, break up or down soon off 3985 level
oldarmy1
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AG
SHOP purchased across all retirement accounts I manage. I just knew we'd get back into the $30's.

I did buy Sept 16 $35 calls in trading account as well.
Bob Knights Paper Hands
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Dan Scott said:

A big green account when the market is falling is better than some sex

FIFY
FishrCoAg
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AG
Dan Scott said:

A big green account when the market is falling is better than sex


You're doing something wrong. I'm old but I'm not that old!
Romello
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Why the sell off now? What is priced in that hasn't been known for the past 6 months or more? The summer bull run and now this??? Why now?
Triple_Bagger
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Romello said:

Why the sell off now? What is priced in that hasn't been known for the past 6 months or more? The summer bull run and now this??? Why now?
The Fed controls the market. People thought the Fed was done with interest rate hikes after Powell said they had reached neutral levels with rates during the July FOMC speech. This was misinterpreted and every Fed speaker after that speech tried to clarify but the market didn't listen and rallied all the way to the 200 EMA. Powell set the record straight at the Jacksonhole speech last Friday and now the market is adjusting for more rate hikes and more time with higher rates.
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