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23,991,727 Views | 231574 Replies | Last: 8 min ago by EliteZags
BlueTaze
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PCE inflation report out tomorrow pre-market

https://www.bea.gov/data/personal-consumption-expenditures-price-index

Could be a catalyst, but will need someone here to let us know what direction. I'm a bit more bullish on a day like today. If we were up 2% I'd expect a rug pull. But who knows, may flush us to 3575 Mancini target where he has been saying he would go long.

$30,000 Millionaire
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AG
$30,000 Millionaire said:

We could close below 3610 with a 35XX handle


Looks like we are setting up for one of two things: major puke the close or a sharp rally.
Txducker
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qqq has broken June lows. Working today and rarely have time to look at it. Today really caught me off guard after seeing yesterday's action, a dirty move to trap longs. Luckily I was cash and not holding anything overnight.
wanderer
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H&S breakdown followed by a dreaded-h. (SPY/SPX on the 1min)

$30,000 Millionaire
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These are conditions that result in limit down action.
Spoony Love
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I agree. I don't see today combined with yesterday riding off into the sunset quietly.
$30,000 Millionaire
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If e-mini doesn't close over 3640 I will believe we are going to have a major puke.
Bob Knights Paper Hands
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I just sold a few ATM XSP put spreads a few minutes ago. I was trying to get a butterfly pinned close to the 5-sma but it hasn't sold. Three legs on a lower liquidity ticker so not surprising.

We are at the top of the bear demand zone so we'll see if we turn back down here or if this is a run up.
BaylorSpineGuy
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Trading got a little tricky. So closed most of my puts but left 2 runners. Bought 363C expiring tomorrow as a hedge. Favor downside move from here. Breaking lower low.
Bob Knights Paper Hands
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As RSI moved back out of that demand zone, I'm out of those put spreads for a total profit of $8.

Looks like we may actually get that push, but I'm on the sidelines watching now.
Spoony Love
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It's teasing your 3640.

I think this thing is about to flush
Brewmaster
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AAPL looks super weak, puts have been flying on it all day
Brewmaster
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SF2004 said:

200MA on SPY the weekly is around 358.
and coincidentally or not, the last 5 days, SPY is in a megaphone down and the bottom of the channel is right around 358 (currently, if we puke this afternoon)
Charismatic Megafauna
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Nov 18 420 calls are .55

I keep seeing tweets overlaying the 2008 crash with now and saying this thing's just starting, i know a lot of you guys feel the same way. I'm not that pessimistic though and we're sweating through recovering from the economic implications of covid just like we sweated through recovering from the economic implications of the financial and housing collapse.

So i overlaid the daily from 3/20/2020 to now, with the daily from 3/9/2009 to 10/4/2011 (no x-axis shenanigans) and man it lines up pretty good. By the end of october 2011 spy was up 20% before a pullback and another run taking it up 30% then resuming the bull market. Pretty sure everybody is going to deny the bottom 5 times before looking back and realizing it's behind us.

If not, whatever, it's 50 bucks
Charismatic Megafauna
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P.S. I'm an idiot and i suck at this. Don't throw your money away fighting the trend and trying to time the bottom which I'm doing at the exact same time I'm saying not to.
Brewmaster
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just wait for the puke, 358, maybe below there even, probably tomorrow though at this rate

fwiw, the last time AAPL sold off this hard was in May, then the next day it continued and flushed (it bottomed though in June).
irish pete ag06
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FDX




Relative strength

Inverse H&S on 15 minute.



I jumped in the 155 for tomorrow... lotto sizing
Gabster43213
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I'm not trying to time the bottom but certainly a bottom range of the S&P.. For me, 3,500 begins to peak my interest and I'm a buyer at 3,400.
topher06
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I'm not sure the puke is here yet for the fundamentals. There is a ton of negativity and panic, but still hear so many people saying to just hold. Also think we get a good inflation report, at least compared to the ****show we've had recently, on the next print. I'm sure technicals are screaming puke though.
Bob Knights Paper Hands
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Maybe I shoulda kept those XSP flies. Are we going to close at the 5-day today?
topher06
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Bob Knights Liver said:

Maybe I shoulda kept those XSP flies. Are we going to close at the 5-day today?
Who knows. Last 5 minutes have generally been a massive swing one way or another for the past couple of weeks. Wish big money/algos didn't have an iron grip on the markets, but that's the world we live in now.
Charismatic Megafauna
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Lotto Friday is back!
irish pete ag06
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Went ahead and made this net free.
$30,000 Millionaire
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Well, on the bright side, I robbed someone at close.


Charismatic Megafauna
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Are you not uncertain?
Edit: oh today's the 29th. Spx options expire every day!!!???
Charismatic Megafauna
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Brother you are about to become the lotto king. What a run into close! Bought at .42 and last trade was .59!
wanderer
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You talking about the SPX? When did it fill?

Each net you .47 per contract? SPX closes at 3640.47
$30,000 Millionaire
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2:59:50
wanderer
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Amazing
$30,000 Millionaire
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wanderer said:

Amazing


Should Net $9.1K
topher06
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$30,000 Millionaire said:

wanderer said:

Amazing


Should Net $9.1K
Congrats on the 0:00:10 money.
$30,000 Millionaire
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Originally it looked like SPX closed over 3641, but alas, not to be!
wanderer
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$9100/10sec = $3.276M/hr = $78.624M/day

If you were able to replicate that over and over at the same rate, it'd only take you 9yrs to reach Musk net worth ($260B)
topher06
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wanderer said:

$9100/10sec = $3.276M/hr = $78.624M/day

If you were able to replicate that over and over at the same rate, it'd only take you 9yrs to reach Musk net worth ($260B)
Now lets do it compounding. (Not me, you do it).
wanderer
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Just did the quick mental math. It's less than 9yrs.
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