Oh yeah brother, I know you were jacking with me. All good. Every time I hear or get involved in a beer conversation it reminds me of a story with a company I worked for. We were the largest malt supplier at the time. Sometime around 2005, the VP of the business unit and I got into a discussion. Basically, he told me that all beers were going light colored and malting business was going to die. I told him I thought the market was going dark colored and away from light. It was a lively discussion. At the time, I was an internal company consultant, but I wasn't on assignment to the malting business. So, this was just a "conversation". In the end, the VP convinced the company to sell the assets and cut "potential asset losses" of a dying business.....the market trended dark in less than 12 months. I've always done my best to take the high road in business; however, this is one guy I wouldn't have mind telling him, "I told you so". His self-importance was off the chart. That's my real beer story..

Remember seminar on the triple descending triangles? Look at the minute chart on SPX SPY

Seminar reminder the descending triple wave pattern set-up is bearish if not broken in 15 minutes. Otherwise look for break down below day low for confirmation. So far we are just below the larger intraday pennant. Also below 3760 which is mid-level support. pic.twitter.com/0B5mxcJ2dR

— Freedom Costs More Than Being Concerned... (@oldarmy1) October 6, 2022

oldarmy1 said:

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Yup and we flashed below for a tricksy potential.

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Zero follow through on the initial flash bounce and now melting away below.

So much for that. Melting down now.

oldarmy1 said:

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Just bought 200k shares of OVV. Crushed like all oil but the cash position they have is just too strong to pass it up under $4. Absolutely brutal bear tear down of these stocks.

This went in retirement accounts so no concern over short term volatility from here.

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Just wanted to say thanks for posting this on 3/9/2020. I liked the numbers, so I bought at $3, sold 10% when it hit $30 in summer 2021 and still have the rest. I'm about to sell another 10-20%. I only have a fraction of the shares you posted, but the gains and dividends have been significant for me and my family. I never would have heard of it without this thread.

Thanks!!

Brian Earl Spilner said:

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Still think we might rally into a mildly green close here.

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Downward pressure is pretty great at the moment. It either resolved itself quickly or it's going to puke the close.

I've posted trades I've taken here:

Bought LUMN at 7.45. Could have managed at 8+. Analyst downgrade sent it back down

Bought ENVX and sold 20C against it. This looks good.

Sold CCL 7.5P. Fine to take assignment at net cost of 6.6.

Sold CVX 160P. Also fine with taking assignment

Excellent! OVV paid for quite a bit of property. I sold out at $55 last time it was there. Went to $60 before to $40 but I didn't trade it again.

Churlish Sambino said:

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oldarmy1 said:

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Just bought 200k shares of OVV. Crushed like all oil but the cash position they have is just too strong to pass it up under $4. Absolutely brutal bear tear down of these stocks.

This went in retirement accounts so no concern over short term volatility from here.

---

Just wanted to say thanks for posting this on 3/9/2020. I liked the numbers, so I bought at $3, sold 10% when it hit $30 in summer 2021 and still have the rest. I'm about to sell another 10-20%. I only have a fraction of the shares you posted, but the gains and dividends have been significant for me and my family. I never would have heard of it without this thread.

Thanks!!

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Let us know when you trade WWR too, will ya? asking for a friend, lol

I see you!

SNDL TLRY moving on biden

BREwmaster said:

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Churlish Sambino said:

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oldarmy1 said:

---

Just bought 200k shares of OVV. Crushed like all oil but the cash position they have is just too strong to pass it up under $4. Absolutely brutal bear tear down of these stocks.

This went in retirement accounts so no concern over short term volatility from here.

---

Just wanted to say thanks for posting this on 3/9/2020. I liked the numbers, so I bought at $3, sold 10% when it hit $30 in summer 2021 and still have the rest. I'm about to sell another 10-20%. I only have a fraction of the shares you posted, but the gains and dividends have been significant for me and my family. I never would have heard of it without this thread.

Thanks!!

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Let us know when you trade WWR too, will ya? asking for a friend, lol

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Any day now … right? My only regret with WWR is not selling more when it was over $10 last year. I could have easily made money and be sitting with some net free shares, but instead I'm in the red. Guess that's what happens when you get greedy!!

FIFY

It has been eye opening as to what can be done with wrong time, wrong precision, wrong analytics, and sometimes, bad luck.