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$30,000 Millionaire
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In reply to $30,000 Millionaire • 10:09a, 10/7/22
AG
$30,000 Millionaire said:
I'm going to sell half here to at least buy dinner and then I'm going to set a B/E stop on the rest.


Does everyone understand why I did that?
You don’t trade for money, you trade for freedom.
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Brewmaster
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10:11a, 10/7/22
AG
looks like we're making an H, a little early to tell though
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Brewmaster
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In reply to $30,000 Millionaire • 10:12a, 10/7/22
AG
$30,000 Millionaire said:
$30,000 Millionaire said:
I'm going to sell half here to at least buy dinner and then I'm going to set a B/E stop on the rest.


Does everyone understand why I did that?
to "never let a green trade turn red". Seems so simple, but it works. I've been doing that on scalps this morning, 2 for 2 so far.
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CC09LawAg
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In reply to $30,000 Millionaire • 10:13a, 10/7/22
$30,000 Millionaire said:
Exxon pays dividends. It's okay to take out your cost basis and let the rest ride forever. It will pay you for life.
Sorry, this is where me being new at this comes in; I didn't get my verbiage exactly right.

I hold 10 Jan 20 2023 contracts at $105.00. Not in on shares.
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Chef Elko
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10:19a, 10/7/22
AG
Come on AMD. Why you gotta do this
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BlueTaze
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11:03a, 10/7/22
Friday lotto order just hit...SPY 369 call for .25

Rally time
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Philip J Fry
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11:21a, 10/7/22
AG
Should have bought more FGEN
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Charismatic Megafauna
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In reply to Charismatic Megafauna • 12:01p, 10/7/22
AG
Charismatic Megafauna said:
This dip is right on script with the seasonality chart, followed by big green next week

Bought a couple vxx 20.5p expiring next week
Edit: strike was actually 21
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Brewmaster
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12:11p, 10/7/22
AG
wow, at this pace we may see 3600 by close

3 for 3, scalped TSLA puts first 2 were SPY puts
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Txducker
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12:12p, 10/7/22
AG
I was hoping for a better bounce for October but the action for today shows so much weakness. The gap down premarket was not even contested. bummer
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Golf1
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12:19p, 10/7/22
AG
I'm looking for a pull back here on NFLX and making sure we don't get below todays low and then looking to get some calls. I think it will retest the $231.85 area. Need to be careful though with the 50 SMA 1 minute chart.
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BlueTaze
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12:28p, 10/7/22


We are same level we were 2 Fridays ago. Big rally after lunch that time off of 3660.
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Heineken-Ashi
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In reply to Charismatic Megafauna • 12:32p, 10/7/22
Charismatic Megafauna said:
Charismatic Megafauna said:
This dip is right on script with the seasonality chart, followed by big green next week

Bought a couple vxx 20.5p expiring next week
Take your profit on first move and roll into VXX November $22 calls which should be $1.50 or lower at that point.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
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Charismatic Megafauna
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In reply to Heineken-Ashi • 12:35p, 10/7/22
GreasenUSA
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12:52p, 10/7/22
AG
Caught the short on QQQ opening range low for the 2nd most profitable trade of the week and then headed out to ACL for the weekend. 17 years running!
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Golf1
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12:58p, 10/7/22
AG
This is starting to feel like a day where we don't ever see a bottom until the market is closed
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Farmer @ Johnsongrass, TX
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1:51p, 10/7/22
NASDUNK 8,000, anyone? ay caramba

Brandon went to Saudi begging for oil. Saudi gave Brandon Vaseline this week. Yep, Saudi took the belt off too. Brent and WTI looking perky and still not where Saudi wants it. It didn't have to be this way, none of it. On the other hand, Brandon & The Green New Steal has been super for O&G!

Looking for the Power Hour to take XOM & CVX green for the weekend. Banging my drum.

While down in TX I caught a little of the Rick Roberts Show/WBAP on Wed and he interviewed some oil analyst. Oil Analyst thought TX would see $4 gas. (I think that price is very conservative.)

Have a great weekend!

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CC09LawAg
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In reply to CC09LawAg • 2:20p, 10/7/22
CC09LawAg said:
$30,000 Millionaire said:
Exxon pays dividends. It's okay to take out your cost basis and let the rest ride forever. It will pay you for life.
Sorry, this is where me being new at this comes in; I didn't get my verbiage exactly right.

I hold 10 Jan 20 2023 contracts at $105.00. Not in on shares.
Looking like my gut was right today. When I typed this it was at about $7.70 - I've set a stop for $6.00 that will likely hit at this trajectory.

All in all I can't complain. Had a couple of smaller follow ups on the upswing to make a little bit more on top.

This thread has been a total gamechanger for me on how I view capital.

ETA - I still think the January 2023 play is the right one and will probably buy back in, just couldn't risk riding this down when I had such a good run up.
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The Pilot
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2:33p, 10/7/22
AG
Spy sliding into the weekend.
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Whirligigs
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2:34p, 10/7/22
Dumpity dump!
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Brewmaster
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2:38p, 10/7/22
AG
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FJ43
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2:40p, 10/7/22
Buying Nov 15 VIX puts.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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Brewmaster
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In reply to CC09LawAg • 2:42p, 10/7/22
AG
well done!

lots of XOM dip buying into the close here
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CC09LawAg
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In reply to Brewmaster • 2:49p, 10/7/22
BREwmaster said:
well done!

lots of XOM dip buying into the close here
My fear was that if the dump bleeds into Monday and we open with a gap down that I could miss my stops by a significant amount and lose even more. I knew the close here might offer a little bit of a run up but didn't want to get baited into holding over the weekend.

I got out at just under 300% and won't play the coulda woulda shoulda game no matter where it goes.

ETA: And thanks! Probably a perfect storm of luck and listening to people way smarter than me on this thread.
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BlueTaze
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3:01p, 10/7/22
Wow, closed right at 3655 battleground resistance. Will be interesting to see futures Sunday night.

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Charismatic Megafauna
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3:02p, 10/7/22
AG
Yee haw boys, we got us another one!
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Spoony Love
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In reply to Spoony Love • 3:02p, 10/7/22
AG
Spoony Love said:
I'm guessing we see 362 today with the way selling is going currently. That would be a good stop then reverse to 365-366 to end the day red.
Meh, it could have worked
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$30,000 Millionaire
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3:40p, 10/7/22
AG
Did not get assigned on CVX 160P, but got close to it. I will sell again next week.

Also got to keep all of ENVX. Basis is 19.4 after selling the 20C
You don’t trade for money, you trade for freedom.
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Farmer @ Johnsongrass, TX
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In reply to $30,000 Millionaire • 4:12p, 10/7/22
Today, with the Indices getting crushed, Brent and WTI showing gains/strength and holding and the rest of the O&G complex down - come Monday and Tuesday the likelihood of the O&G complex rebounding upward is high. You should be able to have your way with it regarding the CVX's.
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CC09LawAg
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In reply to CC09LawAg • 6:18p, 10/7/22
Reviewing my day, this is what I learned:

I didn't have a plan for volatility. It had gone up and up and the only exit plan I had was "get out when it's not good", which isn't a plan at all. So I panicked, sold it all, and now have no possible upside plays going into Monday.

Once today showed it was going to be a slow grind down with no relief in sight, I should've set stops for some contracts at $7.00, 6.50, 5.50, and 5.00, still averaging the $6.00 stop I ended up exiting at. I would've locked in higher profit and still had runners going into Monday and if worst happened and the market tanks, I'd be sitting the same then as I am now.

Am I thinking about this correctly?
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Charismatic Megafauna
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In reply to CC09LawAg • 7:41p, 10/7/22
AG
"Cash is a position'
I don't know about this selling incrementally on the way down business. I think you're better off setting a trailing stop to sell all contracts then buy back in tranches at those levels, as long as your thesis is still valid. You can also set that trailing stop to dump most of your contacts and keep a few runners (ideally net free+) if it helps you deal with the psychological element of watching the value drop
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BlueTaze
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In reply to CC09LawAg • 8:49p, 10/7/22
If it makes you feel better, I sold my SPY put hedge for a 100% gain at close yesterday. Could have sold it for a 600% gain today. Instead I bought $1k SPY lotto calls without a stop around lunch expecting a bounce that never came.

I should have held my puts, that was my plan, but I didn't stick to it. Buying 0DTE SPY calls was a stupid impulse trade. It even went from .25 to .38, before going to .00005. #greed
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FJ43
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9:01p, 10/7/22


This thing gets more interesting by the day…

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

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CC09LawAg
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In reply to Charismatic Megafauna • 9:02p, 10/7/22
Thanks. I am still learning (a lot) and any input is appreciated.
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FJ43
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In reply to FJ43 • 9:16p, 10/7/22
FJ43 said:

Bought June 23 15c on this one. Posted it a while back and ended up entering those. Please excuse all my lines. They are alert levels for me.


Not sure if anyone took these but they are up 50%. I am still holding at the moment.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

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