FJ are you trading today? You said yesterday you're a redneck so I figured you would be in a field with opening day of dove season starting today!

Philip J Fry said:

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Out of curiosity, what makes you say that about MARA?

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Double bottom.

Dan Scott said:

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This is why Pelosi sold out of NVDA for a big loss about a month ago before her trip to Taiwan. I thought that sell was off but now it makes sense.

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Wallstreets best trade - strikes again...

Dan Scott said:

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This is why Pelosi sold out of NVDA for a big loss about a month ago before her trip to Taiwan. I thought that sell was off but now it makes sense.

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I forgot about that but yeah, it makes more sense now.

Probably no trading for me until I watch the full IB. This sell
Leg will end, probably soon.

10-yr just jumped over the high from June.

$30,000 Millionaire said:

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Philip J Fry said:

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Out of curiosity, what makes you say that about MARA?

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Double bottom.

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I must be blind. Bottom at 5?

yeah MARA looks like a bear pennant on the hourly going back to Aug. 25th. I could certainly be wrong though

Flash on 3900 should be imminent - better than a slow bleed. Would be a good spot for long entry with tight leash. Next level down is 3850 which used to be a key level.

Yes. I plan to ride SQQQ and TQQQ up and down the channel. Also using the system on SPX to identify potential selling opportunities.

That's awesome.

irish pete ag06 said:

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BlitzBrother said:

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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 .

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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.



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.

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Target 1 on SQQQ has been achieved. I've had a limit sell of 48 set for a long time, but I took it off today because I am at my new job, where I watch the markets all day as a part of my job. I plan to set a trailing stop order sometime today.

I've learned a tough lesson on the VIX calls. I am just now back to break even. I went too far OTM on these. I would have been much better served buying less contracts for a much strike price. I still have plenty of time, so I'm planning to hold these because I still believe we'll crack 30 before a short term rally ensues.

Philip J Fry said:

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Is this roughly what everyone has with their charting?

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That 390ish level looks pretty huge to me on the hourly and daily charts

SPY needs to keep following this downward channel for me

Ended up getting out just under the 391 range for a profit

$30,000 Millionaire said:

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Probably no trading for me until I watch the full IB. This sell
Leg will end, probably soon.

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Hopefully, last couple weeks have been brutal.

Dan Scott said:

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This is why Pelosi sold out of NVDA for a big loss about a month ago before her trip to Taiwan. I thought that sell was off but now it makes sense.

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I thought the story behind NVDA was Pelosi had a bunch of options which he exercised. I didn't think he sold anything. Could be wrong, tho

Just bought some AMD and AMZN calls. Has to be a little uptick at some point

GOOGL sub $100,....anyone?

What's the trade gents. Seems to be following the trade plan. Spy currently from chart posted.

Net free next weeks TSLA 250p. We close under 50dma and it's night night.

But why? Under 50 day. Bearish signal.

Farmer @ Johnsongrass, TX said:

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GOOGL sub $100,....anyone?

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Farmer,

Since you popped in, what is your prognosis for XOM? It bounced off a trend line this morning so I bought back the Oct 105 calls for a nice 65% gain since Monday. Do you think it trends back upward to $100 before dividend pay date with oil taking a dive this week?

you are thinking try a long here soon as a lotto, am i right?

intraday we are still in a downtrend, still below a trend line I have drawn. Volume declining though and looks like higher lows.

Farmer @ Johnsongrass, TX said:

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GOOGL sub $100,....anyone?

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Getting close to my $106 limit.

Gross day. Glad I slept in.

BREwmaster said:

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you are thinking try a long here soon as a lotto, am i right?

intraday we are still in a downtrend, still below a trend line I have drawn. Volume declining though and looks like higher lows.

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Missed the entry long but if I was watching I'd of bought lottos at my trendline touch. Still a possibility. I think we may get a bounce but it's still bearish trend.

Ccutamu said:

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Farmer @ Johnsongrass, TX said:

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GOOGL sub $100,....anyone?

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Farmer,

Since you popped in, what is your prognosis for XOM? It bounced off a trend line this morning so I bought back the Oct 105 calls for a nice 65% gain since Monday. Do you think it trends back upward to $100 before dividend pay date with oil taking a dive this week?

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Yes, I'm expecting a move back to ~$100 by 9/9. XOM once held a tight price relationship to WTI, but appears that relationship is clearly broken for all the reasons I've been citing. XOM with their share buyback and the DRIP I see strong support at Div Payout. After Div payout 9/9 to the end of Oct, XOM could dump, beware. Once earnings are announced the last week of Oct and SPR releases halt the end of Oct, should be a wild ride up. If the economy tanks, energy sector (to some degree) will fair better than the rest. OPEC+ meets Sep 5th. Saudi is not happy right now. G7 is meeting on Friday to discuss Russian Oil Price Caps.......what a laugher........just think about it this way.....A European speaking here,......."We hate you. We're going to enact sanctions we hope will destroy your economy. We're going to send weapons to kill your soldiers. But you have to sell us your gas and at the price we want to pay." ...... If there's a more funny joke, I'm listening..