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SF2004
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Once again you can see how rigged the stock market is.

There is zero reason for a run up like this. JPow just said more pain last week and speaks tomorrow.

Also, rate hikes, europe in the crapper, etc.
sts7049
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SF2004 said:

Once again you can see how rigged the stock market is.

There is zero reason for a run up like this. JPow just said more pain last week and speaks tomorrow.

Also, rate hikes, europe in the crapper, etc.


I know you like complaining about the market, but there is nothing unusual about bear market rallies
BlueTaze
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SF2004 said:

Once again you can see how rigged the stock market is.

There is zero reason for a run up like this. JPow just said more pain last week and speaks tomorrow.

Also, rate hikes, europe in the crapper, etc.


3920 was resistance, bulls reclaimed it to make it support. Then shorts squeezed above there to run up thru 3940, 3965, then hit new resistance at 3980. So in other words, demand outstripped supply of equities based on key levels most of the market monitors. Perhaps more bounce selling will bring it back down.
GreasenUSA
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SF2004 said:

Once again you can see how rigged the stock market is.

There is zero reason for a run up like this. JPow just said more pain last week and speaks tomorrow.

Also, rate hikes, europe in the crapper, etc.
We declined over 10% in about 3 weeks without much of a relief bounce. We're still on our way down, just taking a break today and possibly tomorrow. If QQQ reclaims 306 area on the close by the end of this week, then maybe we can start calling shenanigans.
Brewmaster
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SF2004 said:

Once again you can see how rigged the stock market is.

There is zero reason for a run up like this. JPow just said more pain last week and speaks tomorrow.

Also, rate hikes, europe in the crapper, etc.
stop listening to any of the news, turn it all off and play the levels. So much easier.

sorry to pile on, I see 8 other people replied, lol.
topher06
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Quite the dead cat bounce if that's what happened today. Bought a few SPY puts for 9/16 at close, just cause I still think there is downside left here (but still long SPY).
Red Pear Luke (BCS)
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Oil at $80 a barrel is perplexing...
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
Golf1
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I am definitely one who lost a little today due to thinking about how every opening lately has ended up dropping. luckily I kept the loss small. I trade on my phone so its not always so easy to see key resistance lines but I understand that's part of the risk I play. I do draw my lines on my laptop when I'm not working but a move like today made it difficult to follow for me.

Congrats on everyone with calls today.
FJ43
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Hmmmmm.........

Only SPY call trade yesterday for 30% and sat on sidelines while driving. Today only bought VIX calls. We shall see.

Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

Brewmaster
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those VIX calls will print very soon, I was just thinking about VIX. and JPow speaks premarket tomorrow I believe.

I scalped SPY, QQQ and TSLA calls today - whooop! was a good day
Brewmaster
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the hourly chart on VIX, good spot to put some calls on... bottom of the line tomorrow a.m. will be around 24.25. I need to get back to charting VIX again, it was great help with my scalps.

FJ43
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BREwmaster said:

the hourly chart on VIX, good spot to put some calls on... bottom of the line tomorrow a.m. will be around 24.25. I need to get back to charting VIX again, it was great help with my scalps.


Just go out a bit. Not too far out on strike either in case we get more volatility crush. I've found VIX calls and puts to generally be easy trades if you're patient.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

BaylorSpineGuy
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This is a good call. Have been trying to determine how I can be an "active" trader and still fulfill and prioritize my duties as a physician.

Buying these GOLD leaps was a good first set up for me. I may have to be more tactical and buy longer term set ups with long dated options that don't need the big move in one day to crush that's ideal but not realistic for me.

As for VIX/SPY, I anticipate there will be some weakness structurally after OpEx next week. The following week could bring some fireworks. And then Fed decides on more rate hikes in late September. Some October VIX calls or SPY puts purchased next week sometime should print. Will be watching close but am vacationing on 30A next week so May not be too active….
BaylorSpineGuy
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Here's the secret to making money in the next month or st least that's my guess.


FJ43
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BaylorSpineGuy said:

This is a good call. Have been trying to determine how I can be an "active" trader and still fulfill and prioritize my duties as a physician.

Buying these GOLD leaps was a good first set up for me. I may have to be more tactical and buy longer term set ups with long dated options that don't need the big move in one day to crush that's ideal but not realistic for me.

As for VIX/SPY, I anticipate there will be some weakness structurally after OpEx next week. The following week could bring some fireworks. And then Fed decides on more rate hikes in late September. Some October VIX calls or SPY puts purchased next week sometime should print. Will be watching close but am vacationing on 30A next week so May not be too active….


If I was in town I'd buy you a cold one.

Go to seaside (Santa Rosa) and eat on the upper deck at Bud & Alleys. Great shopping across the street at the village areas. Bunch of food trucks around a grass amphitheater that often has live music with shopping surrounding it.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

BaylorSpineGuy
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We and the kids love it there! This is year 3 in a row. We are staying in Santa Rosa area this time with another family at a beachfront home. Looks pretty great. Gonna try to do a deep sea fishing thing one morning if we can.

Next time you're in DFW, holler and the drinks are on me.
Bonfire1996
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BaylorSpineGuy said:

We and the kids love it there! This is year 3 in a row. We are staying in Santa Rosa area this time with another family at a beachfront home. Looks pretty great. Gonna try to do a deep sea fishing thing one morning if we can.

Next time you're in DFW, holler and the drinks are on me.

Just finished year 10 for us. We've settled on Carillon Beach as out forever vacation spot. Gated, secure, private beach that's empty, multiple pools, quiet. Enjoy
BlueTaze
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I traded like a very poor man's Mancini today. Switched between SPY calls and puts at the 3920 battleground, then went fully long at 3925 and rode to 3940 taking off 2/3, then rest at 3965. So lost some early at 3920 being impatient, didn't leave a runner to 3985 target, then made error of buying lotto expiring 396 puts after 3985 for a stupid degenerate loss.

I would have no chance if it wasn't for seasoned traders like him and others sharing knowledge.
FJ43
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BaylorSpineGuy said:

We and the kids love it there! This is year 3 in a row. We are staying in Santa Rosa area this time with another family at a beachfront home. Looks pretty great. Gonna try to do a deep sea fishing thing one morning if we can.

Next time you're in DFW, holler and the drinks are on me.
One of our sites is about 30-35 min from Destin so have spend a fair bit of time in 30A area. Lots of good spots all along there but my wife and I have liked Seaside/Santa Rosa.

Hole in the wall but just so you can say you've been there is The Red Bar in Grayton Beach. Usually crowded at lunch. Too many places to list as you know.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

FJ43
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BlueTaze said:

I traded like a very poor man's Mancini today. Switched between SPY calls and puts at the 3920 battleground, then went fully long at 3925 and rode to 3940 taking off 2/3, then rest at 3965. So lost some early at 3920 being impatient, didn't leave a runner to 3985 target, then made error of buying lotto expiring 396 puts after 3985 for a stupid degenerate loss.

I would have no chance if it wasn't for seasoned traders like him and others sharing knowledge.


You can do it. Just literally make notes on your trading platform for your entry at the exact spot and exit at exact spot. Win or lose. Then switch to different time frames and look at SRs, trendlines and EMAs of those notes. It will be clear.

One tip. Never forget the posture of the daily candles and patterns.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

irish pete ag06
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FJ43 said:

BREwmaster said:

the hourly chart on VIX, good spot to put some calls on... bottom of the line tomorrow a.m. will be around 24.25. I need to get back to charting VIX again, it was great help with my scalps.


Just go out a bit. Not too far out on strike either in case we get more volatility crush. I've found VIX calls and puts to generally be easy trades if you're patient.


This… man I had VIX calls on for a long time. Entered too early… but the biggest problem was I went too far OTM (30)

The best I've gotten was back to break even… would have easily profited a good chunk with less contracts and barely OTM.

I've still got them on but plan to close them this week. Currently sitting about -30%. Was holding out for fire and brimstone JPow.
$30,000 Millionaire
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Baylor, i'll buy you a beer and we can talk about it. I have phased in and out with how active I am for years. I'm about to have to phase to less active.
You don’t trade for money, you trade for freedom.
Golf1
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This is just a question for the VIX trading from a less experienced trader but does the recent consolidating much to worry about? Looks like recently when it was trading at $20 it was staying there and finally reversed up but now it was consolidating around 26 and went lower. I see the reason on why it "should" go up but I'm just trying to get the thoughts from those getting calls.
BaylorSpineGuy
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I think we may be staying there. My friend reserved the place for us but it's called coconut telegraph or something. Gated neighborhood, beachfront property. Looked pretty nice….
BaylorSpineGuy
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$30,000 Millionaire said:

Baylor, i'll buy you a beer and we can talk about it. I have phased in and out with how active I am for years. I'm about to have to phase to less active.


Down for it any time you want. You're in North Dallas area, right? Frisco maybe?

Sounds like you had a good meeting in SF. Congrats. Pretty sure your background is in tech….wanted to pick your brain about something tech related at some point….
$30,000 Millionaire
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live in Dallas, unfortunately spend time in Frisco. LOL. I'll ping you next week.
You don’t trade for money, you trade for freedom.
docaggie
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BaylorSpineGuy said:

This is a good call. Have been trying to determine how I can be an "active" trader and still fulfill and prioritize my duties as a physician.


This is what I've struggled with as well. There are days I don't even have time to glance at the stock market.
Using a trading platform to set alerts when a stock hits resistance or support helps, but doesn't do much for when news hits that causes something to happen.
Class of 1998;
Husband of an Aggie, Class of 1999;
Father to future Class of 2029 and 2031
No material on this site is intended to be a substitute for professional medical advice, diagnosis or treatment. See full Medical Disclaimer.
$30,000 Millionaire
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docaggie said:

BaylorSpineGuy said:

This is a good call. Have been trying to determine how I can be an "active" trader and still fulfill and prioritize my duties as a physician.


This is what I've struggled with as well. There are days I don't even have time to glance at the stock market.
Using a trading platform to set alerts when a stock hits resistance or support helps, but doesn't do much for when news hits that causes something to happen.
honestly, you guys should be either always long or trading weekly trends.
You don’t trade for money, you trade for freedom.
BigN--00
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I think there is a play to make on student loan service provider stocks. Thoughts?
HoustonAg2014
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FJ43 said:

BaylorSpineGuy said:

We and the kids love it there! This is year 3 in a row. We are staying in Santa Rosa area this time with another family at a beachfront home. Looks pretty great. Gonna try to do a deep sea fishing thing one morning if we can.

Next time you're in DFW, holler and the drinks are on me.
One of our sites is about 30-35 min from Destin so have spend a fair bit of time in 30A area. Lots of good spots all along there but my wife and I have liked Seaside/Santa Rosa.

Hole in the wall but just so you can say you've been there is The Red Bar in Grayton Beach. Usually crowded at lunch. Too many places to list as you know.


I just got back this afternoon from Santa Rosa. Spent a couple days at Shunk Gully also went to Perfect Pig last night which was very good. Bud and Alley's is always good. Pizza by the Sea, Growlers, and Local Catch.

Awesome area!
Philip J Fry
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docaggie
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I've been doing more selling of premium instead.
If I have a day off, I might do something daily.
Class of 1998;
Husband of an Aggie, Class of 1999;
Father to future Class of 2029 and 2031
No material on this site is intended to be a substitute for professional medical advice, diagnosis or treatment. See full Medical Disclaimer.
Jet Black
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Nm
irish pete ag06
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59 South
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LOL! Need some of Farmer's insights on this one... Brits turn a 180 at even the thought of a winter without heat...

I'd expect the Germans, French and the like to be more stubborn (most of the EU just falls in line). The whole situation is such an obvious supply side issue - so average people should be rioting over the governments trying to fix it on the demand side. One thing to know about the Euros is that they are pretty damn entitled and think very highly of themselves (Germans & French mostly). Not sure how they'll react to slipping into 2nd world territory... interesting conundrum they've got themselves into - couldn't happen to a better lot!

Basic economics - we can only hope (at least a little) that the ignorant, incompetent politicians get exposed and pushed out over all of this... trying to be optimistic here in the face of the extreme global pessimism.

Note that there is a typo in the tweet - they're removing the fracking moratorium.

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