I'm not allowed in those circles. Lol
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Red Pear Luke (BCS)
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IBKR is going to take some real getting used to...
Just executed my first option trade on there.
Just executed my first option trade on there.
Brutal day. Congrats to those who held your puts til (near) the end.
Silly thing is that we are back to where we were only a week ago.
Markets always overshoot. There will likely be retracement soon. CPI wasn't that crazy
You don’t trade for money, you trade for freedom.
$30k Millionaire speaks in bull tones, I listen.$30,000 Millionaire said:
Markets always overshoot. There will likely be retracement soon. CPI wasn't that crazy
+$1100 day only buying TSLA calls
4020 SPX is model the halfway point between yesterday high and today low.
What is the next big news event we can overreact to?
BlueTaze said:
Yall holding SPY puts and vix calls overnight?
Trimmed VIX and set trails.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
irish pete ag06 said:
IBKR is going to take some real getting used to...
Just executed my first option trade on there.
Congrats. Once you get used to it you'll love the execution.
There is an IBKR thread we started a long while back with some tips. Hadn't been used in a while but had some useful info on it to get you going.
https://texags.com/forums/57/topics/3177021
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
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topher06 said:
What is the next big news event we can overreact to?
Complete withdrawal of russia from ukraine>spy 500
I'm not even sure what is going on over there anymore.Charismatic Megafauna said:topher06 said:
What is the next big news event we can overreact to?
Complete withdrawal of russia from ukraine>spy 500
PPI is this week and it's quad witching week. Some other economic stuff drops later in the week too.
I suspect there is follow through tomorrow. Today was a bearish engulfing candle. Perhaps an inside day but suspect there will be more selling.
Ron Walker on YouTube has been alluding to an impulsive 4th wave down move. Mazag used to be the EW expert here but haven't seen him in months.
I suspect there is follow through tomorrow. Today was a bearish engulfing candle. Perhaps an inside day but suspect there will be more selling.
Ron Walker on YouTube has been alluding to an impulsive 4th wave down move. Mazag used to be the EW expert here but haven't seen him in months.
See PPI is set to release premarket tomorrow. Does it impact markets as much as the inflation data we got today? Obviously, the market must have at least some expectation the PPI data will be bad news.BaylorSpineGuy said:
PPI is this week and it's quad witching week. Some other economic stuff drops later in the week too.
I suspect there is follow through tomorrow. Today was a bearish engulfing candle. Perhaps an inside day but suspect there will be more selling.
Ron Walker on YouTube has been alluding to an impulsive 4th wave down move. Mazag used to be the EW expert here but haven't seen him in months.
Awesome! Thank you. I was going to ask for some good resources!
Which one happens first...Charismatic Megafauna said:topher06 said:
What is the next big news event we can overreact to?
Complete withdrawal of russia from ukraine>spy 500
China - Taiwan invasion or
Russia out of Ukraine?
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how many scalps did you try, weeklies or next week? and what were you using to indicate a buy? levels? Bollinger bands? just curious of the run down.Ragoo said:
+$1100 day only buying TSLA calls
and let's ride Real Ale end of October! (in Blanco)
I think CPE is one the Fed particularly follows closely but I halfway think it doesn't matter. It's gonna be bad.
Like Mancini alluded to today, this is a particularly weak season in the market and subject to aggressive downward moves. That's why I didn't close any further puts once I went net free today.
Like Mancini alluded to today, this is a particularly weak season in the market and subject to aggressive downward moves. That's why I didn't close any further puts once I went net free today.
i knew we were extended, but what a move.
I will seek to exit UPRO around $40 or so.
I will seek to exit UPRO around $40 or so.
You don’t trade for money, you trade for freedom.
why did I enter?
Bottomed out RSI, huge move, likely some necessary retrace.
I'd probably cut if we stayed below today's low on an hourly close.
Bottomed out RSI, huge move, likely some necessary retrace.
I'd probably cut if we stayed below today's low on an hourly close.
You don’t trade for money, you trade for freedom.
I think this should at least go to the .382 if not the .5, assuming that tomorrow isn't another puke day.
It could be, I just don't think there is a continuing catalyst. If so, they're just trying to kill weak longs.
If you are a conservative trader, you could consider selling the 390P on SPY or the 390/385P spread.
It could be, I just don't think there is a continuing catalyst. If so, they're just trying to kill weak longs.
If you are a conservative trader, you could consider selling the 390P on SPY or the 390/385P spread.
You don’t trade for money, you trade for freedom.
weekly calls, intraday set ups. Buy when the 5min gets extended outside the lower bollinger, sell when it reverses. Only looking for 20-30 Pennies.BREwmaster said:how many scalps did you try, weeklies or next week? and what were you using to indicate a buy? levels? Bollinger bands? just curious of the run down.Ragoo said:
+$1100 day only buying TSLA calls
and let's ride Real Ale end of October! (in Blanco)
I also want to point out to you guys that there is an island top in place on the indexes.
Normally these fill eventually, but it's considered bearish the longer this holds. It may honestly be a while given the severity of today's move.
I am just guessing, but I think there will need to be a positive catalyst like ending of Ukraine conflict to fill it or the fed doing something. Also keep in mind the fed will not let the market go down too much.
Normally these fill eventually, but it's considered bearish the longer this holds. It may honestly be a while given the severity of today's move.
I am just guessing, but I think there will need to be a positive catalyst like ending of Ukraine conflict to fill it or the fed doing something. Also keep in mind the fed will not let the market go down too much.
You don’t trade for money, you trade for freedom.
I would consider this trade as invalidated with a daily close above 140.
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irish pete ag06 said:Which one happens first...Charismatic Megafauna said:topher06 said:
What is the next big news event we can overreact to?
Complete withdrawal of russia from ukraine>spy 500
China - Taiwan invasion or
Russia out of Ukraine?
I thought china invading taiwan was dependent on russia's swift takeover of ukraine? If so they don't dare try it with much maligned russia in their corner
Hey! I just trade you
And this is crazy
Here's FJ's trendline
Closed on the daily
And this is crazy
Here's FJ's trendline
Closed on the daily
China is very patient. You have to put aside your American way of thinking to understand them.
The current Chinese regime, which we find disgusting and repugnant (it is), pulled the masses out of abject poverty in the last 30 years. You also have to recognize the wealth creation from the one child policy, where over two generations, one child is inheriting a ton from multiple parents / grandparents. They don't want to upset their way of life and they are willing to be more patient than we are. The citizens are less likely to rise up because of this. They hate the rules, but the rules improved everyone's quality of life, so they take it. China has a long history of famine and struggle.
Look at Hong Kong as an example. They waited forever to take possession from the Brits, and then they waited to assert their way. They are far more likely to agree on a gradual reunification with Taiwan than they are to perform outright combat. It could happen, but they will seek peaceful, patient measures first.
They are smart to build up their regional military presence. they're not different than us in this regard. The threat to our way of life is not China cyber attacking us and sending ships with troops, it's them waiting us out and out executing us over multiple decades. We should be concerned because our political system is entirely broken. Our politicians look for cheap points over their opponents vs. actually governing. This is both parties. The party of your choice is not different.
The current Chinese regime, which we find disgusting and repugnant (it is), pulled the masses out of abject poverty in the last 30 years. You also have to recognize the wealth creation from the one child policy, where over two generations, one child is inheriting a ton from multiple parents / grandparents. They don't want to upset their way of life and they are willing to be more patient than we are. The citizens are less likely to rise up because of this. They hate the rules, but the rules improved everyone's quality of life, so they take it. China has a long history of famine and struggle.
Look at Hong Kong as an example. They waited forever to take possession from the Brits, and then they waited to assert their way. They are far more likely to agree on a gradual reunification with Taiwan than they are to perform outright combat. It could happen, but they will seek peaceful, patient measures first.
They are smart to build up their regional military presence. they're not different than us in this regard. The threat to our way of life is not China cyber attacking us and sending ships with troops, it's them waiting us out and out executing us over multiple decades. We should be concerned because our political system is entirely broken. Our politicians look for cheap points over their opponents vs. actually governing. This is both parties. The party of your choice is not different.
You don’t trade for money, you trade for freedom.
After today, they probably just have to signal only a 75 BP raise and the market recovers some.$30,000 Millionaire said:
I also want to point out to you guys that there is an island top in place on the indexes.
Normally these fill eventually, but it's considered bearish the longer this holds. It may honestly be a while given the severity of today's move.
I am just guessing, but I think there will need to be a positive catalyst like ending of Ukraine conflict to fill it or the fed doing something. Also keep in mind the fed will not let the market go down too much.
Yeah... the Mike Baker podcast with Joe Rogan was really informative about China's dedication to playing the long game. That's a good point.
Had my worst day in my portfolio's history.
Brian Earl Spilner said:
Had my worst day in my portfolio's history.
Sorry to hear but literally nobody did well today.
You don’t trade for money, you trade for freedom.
I banked good today
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