I am resisting the idea of buying e-mini for an oversold bounce here.
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Last: 4 hrs ago by Heineken-Ashi
Hope you bought.$30,000 Millionaire said:
I am resisting the idea of buying e-mini for an oversold bounce here.
We open green then I expect us to continue to selloff. I'd love futures down huge and then close green. That's what I'm waiting on.
Algorithmic buying at Model T or 50 monthly MA/200 WMA is a real possibility here then rally to 3750-3850.
Remember….there was a selloff and big rally in these October timeframes. Namely, in 2007, people went long after November and got rugged with the early '09 selloff.
Imagine algos will do similarly this time.
Remember….there was a selloff and big rally in these October timeframes. Namely, in 2007, people went long after November and got rugged with the early '09 selloff.
Imagine algos will do similarly this time.
I didn't. Went out to dinner instead. My daytrading will be diminished for a while 
I'm waiting for limit down climactic action. I will try to trade a bounce
What will happen in the markets tomorrow?
I think it'll either go up or down. Or sideways.
Okay, here's my weekly setup.
Of these, I find the 120 EMA chart the most interesting. We've taken out the June lows, but it appears that the number of stocks currently trading above the 120EMA hasn't matched it's low. I suppose there are a handful of stocks really driving down the indices.
That said, this weeks play is:
FGEN
5 EMA just crossed the 120EMA. RSI in a reasonable range. Daily MACD shows a buy signal. And there's a nice gap that hasn't been filled yet. I'll wait to see what happens monday before making a move.
Of these, I find the 120 EMA chart the most interesting. We've taken out the June lows, but it appears that the number of stocks currently trading above the 120EMA hasn't matched it's low. I suppose there are a handful of stocks really driving down the indices.
That said, this weeks play is:
FGEN
5 EMA just crossed the 120EMA. RSI in a reasonable range. Daily MACD shows a buy signal. And there's a nice gap that hasn't been filled yet. I'll wait to see what happens monday before making a move.
Oil prices could soon return to $100 as OPEC+ considers historic production cut
https://www.cnbc.com/2022/10/03/opec-oil-prices-could-soon-return-to-100-a-barrel-analysts-say.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
https://www.cnbc.com/2022/10/03/opec-oil-prices-could-soon-return-to-100-a-barrel-analysts-say.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
Quote:
An influential alliance of some of the world's most powerful oil producers is reportedly considering their largest output cut since the start of the coronavirus pandemic this week, a historic move that energy analysts say could push oil prices back toward triple digits.
OPEC and non-OPEC producers, a group often referred to as OPEC+, will meet in Vienna, Austria, on Wednesday to decide on the next phase of production policy.
The oil cartel and its allies are considering an output cut of more than a million barrels per day, according to OPEC+ sources who spoke to Reuters.
"The OPEC ministers are not going to come to Austria for the first time in two years to do nothing. So there's going to be a cut of some historic kind," Dan Pickering, CIO of Pickering Energy Partners, said, referring to the group's first in-person meeting since 2020.
Quote:
In addition to a production cut by OPEC+, Pickering cited other supply-side factors that will also prop up oil prices for the next four to eight weeks.
"We're going to see more support from the supply side if sanctions kick in from Europe towards the end of the year [and] as the U.S. [Strategic Petroleum Reserve] begins to shut down its deliveries in November," he said, referring to the U.S. government's emergency stockpile that's tapped when energy markets are in turmoil.
A few weeks ago, the U.S. Energy Department announced it would sell up to 10 million barrels of oil from the SPR for delivery in November.
Charismatic Megafauna
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Congrats on the new gig?
Charismatic Megafauna
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Dammit...td seems to pick and choose how they apply pdt restrictions. I added quarters yesterday afternoon to bring my balance over 25k, it's still over 25k, it's gonna open a lot higher thanks to cpe, but it's still pdt restricted. But i have had it throw the pdt restriction when it closed above 25k but dipped below in after hours too... the rep told me it's "at some point during the night" that they check for the 25k balance
Remember we are still in Fridays range around noon. Could squeeze. Could dump. Action looks algo driven.
TSLA will print a 1XX handle soon.
TSLA will print a 1XX handle soon.
Oil is in again.
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Charismatic Megafauna said:Charismatic Megafauna said:
Cpe was green then pulled back to down 2% premarket. If i can't find a good reason i may add some oct lottos this morning to go with my long nov and dec calls
Got oct 35s for 2.3 and 2.4. So far so good
Took an easy 50% on these bad boys
SPY just bounced at almost exactly (few pennies off) its model T from Friday's low to today's opening high.
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Think I'm gonna buy puts once I see a left shoulder and a head.
$30k, hope you bought that mini. Good day for you if so.
you think it goes that low? Wow. That seems like a great opportunity.$30,000 Millionaire said:
Remember we are still in Fridays range around noon. Could squeeze. Could dump. Action looks algo driven.
TSLA will print a 1XX handle soon.
Only as a meme stock. Not fundamentally. Tesla at $250 has an almost $800 billion market cap. That's more than Ford, GM, Toyota, Benz Group, BMW, Nissan, Fiat Chrysler, Volkswagen, Porsche, and a few others all COMBINED.Ragoo said:you think it goes that low? Wow. That seems like a great opportunity.$30,000 Millionaire said:
Remember we are still in Fridays range around noon. Could squeeze. Could dump. Action looks algo driven.
TSLA will print a 1XX handle soon.
There isn't enough sustainable growth possible to get me to own Tesla on a long-term horizon at current valuations.
You can trade it, but if you mean opportunity for a long term hold, I'd like to see the math.
Good so far.Brian Earl Spilner said:
Dumped my whole paycheck into TQQQ AH.
Sold 50% of GOLD LEAPs, will hold the remainder through at least January 2023.
swinging some MARA shares, for this week only.
also some AAPL call spreads - it looks like it capitulated, or at least short term bounce. Also tons of flow this morning on it.
also some AAPL call spreads - it looks like it capitulated, or at least short term bounce. Also tons of flow this morning on it.
I wanted to get some opinions on $NFLX.
It didn't get killed while the market was completely falling off. I think it will retest the 229-230 area but am I looking at a bull flag?
It didn't get killed while the market was completely falling off. I think it will retest the 229-230 area but am I looking at a bull flag?
Been playing the swings in MARA for a while, it has been pretty good to me (although I only hold for a 5%-8% swing, probably could get quite a bit more).
Keep in mind, your account balance doesn't matter as far as the label goes. You're still a Pattern Day Trader (by definition) if you make more than 3 daily round trips in a 5 day period, whether you have above or below $25K. If your transfer has settled into your account, you should be clear to start making your day trades.Charismatic Megafauna said:
Dammit...td seems to pick and choose how they apply pdt restrictions. I added quarters yesterday afternoon to bring my balance over 25k, it's still over 25k, it's gonna open a lot higher thanks to cpe, but it's still pdt restricted. But i have had it throw the pdt restriction when it closed above 25k but dipped below in after hours too... the rep told me it's "at some point during the night" that they check for the 25k balance
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Correct, my account is now forever flagged as a pdt, but i am only restricted from making day trades when the balance is under 25k. But the restriction isn't instantly lifted when it goes over, they evaluate at some mystery time during the night and decide whether or not to give me another day trade margin call at that time. Also when I'm pdt restricted i do get one day trade that day then my account gets restricted to closing transactions until i get above 25k again. I should just toss a couple more grand in there and stop messing around but it pisses me off.
You may want to consider trading MES or MNQ. Futures are not subject to PDT rules. Another plus with futures is there is no theta which is a good strategy if you make trades at the start of the cash session when volatility is high.Charismatic Megafauna said:
Correct, my account is now forever flagged as a pdt, but i am only restricted from making day trades when the balance is under 25k. But the restriction isn't instantly lifted when it goes over, they evaluate at some mystery time during the night and decide whether or not to give me another day trade margin call at that time. Also when I'm pdt restricted i do get one day trade that day then my account gets restricted to closing transactions until i get above 25k again. I should just toss a couple more grand in there and stop messing around but it pisses me off.
your account value at the start of the trading session has to be over 25k.Charismatic Megafauna said:
Correct, my account is now forever flagged as a pdt, but i am only restricted from making day trades when the balance is under 25k. But the restriction isn't instantly lifted when it goes over, they evaluate at some mystery time during the night and decide whether or not to give me another day trade margin call at that time. Also when I'm pdt restricted i do get one day trade that day then my account gets restricted to closing transactions until i get above 25k again. I should just toss a couple more grand in there and stop messing around but it pisses me off.
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Oh man i went to look at what time i made the transfer yesterday, and it shows that the transfer went through at 5:48 this morning. Aholes.
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I started to apply for futures the other day and stopped because it says if i have futures privileges i can no longer use conditional and/or contingent orders, both of which i use pretty frequently. Am i misunderstanding?
Thread is dead AF today, especially for a SPY +2.5% day. Hope all you that bought those 370 weekly lotteries are enjoying it.
Not sure what broker, but you should still be able to use them for stocks and stock options, it's just not a thing on most brokers for futures.
If you go the futures route be aware that holding futures across the time they check your balances, it will subtract from your account balance. They are treated a little different and even if you are above $25k net liq value it could move you under the 25k threshold. This would put the the stock and stock option portion of your account back in pdt jail (if you've made too many day trades). Clear as mud?
If you go the futures route be aware that holding futures across the time they check your balances, it will subtract from your account balance. They are treated a little different and even if you are above $25k net liq value it could move you under the 25k threshold. This would put the the stock and stock option portion of your account back in pdt jail (if you've made too many day trades). Clear as mud?