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South Platte
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In reply to irish pete ag06 • 2:47p, 10/13/22
irish pete ag06 said:
If we get 50 million shares in the final hour on TQQQ it will be 2nd highest volume day of all time.
This can't be good news. Silly retailers chase and get smoked again?
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gougler08
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In reply to Brewmaster • 2:47p, 10/13/22
AG
I nibbled with a tight stop at $55 for a max 8% loss
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topher06
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In reply to BT1395 • 2:47p, 10/13/22
BT1395 said:
topher06 said:
Looks like profit taking into close, hopefully good bank reports in the morning and continuation tomorrow.
Get ready for the reserve number to start heading back in the wrong direction...
That's already priced in, I believe.
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wanderer
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In reply to South Platte • 2:54p, 10/13/22
South Platte said:
irish pete ag06 said:
If we get 50 million shares in the final hour on TQQQ it will be 2nd highest volume day of all time.
This can't be good news. Silly retailers chase and get smoked again?
Looks like volume is >405M today and largest ever?

I don't think retail is responsible for over $7.2B worth of action (404M * ~$18)
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BaylorSpineGuy
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3:05p, 10/13/22
Yeah I was wrong on the lottos! I closed the position but it was small anyway. Took my lumps and walked away.

My friend bought 10,000 shares of SPY between 353 and 356. He sold options on half the position but wowzers, what a whale! Imagine dropping 3.5M on a single trade. What a beast!
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Brian Earl Spilner
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In reply to Brian Earl Spilner • 3:17p, 10/13/22
AG
Brian Earl Spilner said:
+12% on my TQQQ shares purchased pre-market.

What a weird day.


+16.33%
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irish pete ag06
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3:24p, 10/13/22
AG


The only dates with higher TQQQ volume.

The reason I bring this up was because of this article from seeking alpha which attempts to tie market bottoms with volume in the triple leveraged ETFs.

https://seekingalpha.com/article/4546022-current-tqqq-metrics-still-indicate-a-bear-market-bottom




Funny thing is, this guy wrote basically the same article on August 16 and was quite thoroughly wrong there.
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$30,000 Millionaire
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In reply to Brian Earl Spilner • 3:29p, 10/13/22
AG
Brian Earl Spilner said:
I've never been a day trader. Always been a long term holder.
So why are you trading UPRO and TQQQ????
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$30,000 Millionaire
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In reply to Ragoo • 3:31p, 10/13/22
AG
Ragoo said:
My $2000 day could have been $300k at current SPX.
Sorry bro. I can't even tell you the times this has happened to me, but you're doing what you should which is correctly managing risk.
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Ragoo
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In reply to $30,000 Millionaire • 3:35p, 10/13/22
AG
$30,000 Millionaire said:
Ragoo said:
My $2000 day could have been $300k at current SPX.
Sorry bro. I can't even tell you the times this has happened to me, but you're doing what you should which is correctly managing risk.
yep I know. I took the win, grew capital, now time to find the next trade and compound. Batting 1.000 since switching to only trading SPX options. Think I am out on individual companies except buying shares.
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SF2004
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In reply to Ragoo • 3:40p, 10/13/22
AG
Ragoo said:
$30,000 Millionaire said:
Ragoo said:
My $2000 day could have been $300k at current SPX.
Sorry bro. I can't even tell you the times this has happened to me, but you're doing what you should which is correctly managing risk.
yep I know. I took the win, grew capital, now time to find the next trade and compound. Batting 1.000 since switching to only trading SPX options. Think I am out on individual companies except buying shares.


The wheel and OA1 call/put strat is the only thing I have had success in individual stocks.

Buying calls/puts, iron condors, calendars, etc have only been successful when I am patient for the right setup on indexes. I get smoked using options strats on companies.
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Brian Earl Spilner
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In reply to $30,000 Millionaire • 3:42p, 10/13/22
AG
$30,000 Millionaire said:
Brian Earl Spilner said:
I've never been a day trader. Always been a long term holder.
So why are you trading UPRO and TQQQ????


I'm holding it for medium to long term. Not trading it.
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irish pete ag06
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In reply to Ragoo • 3:46p, 10/13/22
AG
Yeah man.



I know today sucked watching. The only thing you may try is leaving just 1 or 2 runners that either go nuts or go to 0.

I think one time you sold 20 contracts for a $40 per contract gain right? Could have left a couple runners and if they went to 0 it still would have been a huge trade.

And once again, today was the anomaly. 19 out of 20 trading days or more you would have made the complete right move.
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Brewmaster
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In reply to Brian Earl Spilner • 3:47p, 10/13/22
AG
Brian Earl Spilner said:
Brian Earl Spilner said:
+12% on my TQQQ shares purchased pre-market.

What a weird day.


+16.33%
did you take any profit on it or set a stop though?
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Brewmaster
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In reply to Ragoo • 3:51p, 10/13/22
AG
I suppose the only thing to do different when playing with a big run like today is set a trailing stop on 1 remaining runner,or hold the net free half if you want to keep more of it in play and keep setting stops higher.

but I'm sure you already know all this!
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Bob Knights Paper Hands
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In reply to Ragoo • 3:55p, 10/13/22
Ragoo said:
My $2000 day could have been $300k at current SPX.

You made the right decision, but man these hurt. Someone needs to buy you a drink or something.
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In reply to Ragoo • 4:06p, 10/13/22
Ragoo
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In reply to [removed post] • 4:14p, 10/13/22
AG
jj9000 said:
Ragoo said:
My $2000 day could have been $300k at current SPX.
Don't beat yourself up about this.

Hindsight is 20-20.

You would have never let it get to $300K b/c you would taken profits beforehand.

Which is exactly what you did.

you are 100% correct. If I didn't sell when I did I would have certainly sold at 10k.
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BlueTaze
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4:42p, 10/13/22
Next time you are kicking yourself looking at the mark on your past fills...

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Brewmaster
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6:25p, 10/13/22
AG


I was literally thinking this earlier... credit to gougler too though, I think he's already in it.
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Bob Knights Paper Hands
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6:41p, 10/13/22
What happened to gougler? Hadn't seen him around lately.
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gougler08
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In reply to Bob Knights Paper Hands • 7:19p, 10/13/22
AG
Apparently working in supply chain over the past 18 months is bad for trading

But I did enter AMD long today with stop loss at $55
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Farmer @ Johnsongrass, TX
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8:39p, 10/13/22
Quote:
The leaders of the CFDT and CFE-CGC unions tried to sell out the strike on Tuesday, signing a government-backed contract with a 5.5 percent pay rise, which given inflation of nearly 7 percent was a wage cut. However, their efforts to end the strike failed, as walkouts continued Wednesday morning. The working class are angry at the collapse of purchasing power. On Wednesday evening, French police requisitioned four strikers at the Exxon refinery at Port Jerome-Gravenchon near Le Havre, as French Prime Minister Elisabeth Borne had threatened the previous day. They face a six-month prison sentence or a $10,000 fine. Two workers were requisitioned to resume fuel deliveries on Wednesday evening, and two more Thursday morning. The Macron government's action is a frontal attack on the democratic right to strike. This right was guaranteed in the French constitution after the fall of the collaborationist Vichy regime, which formally outlawed the class struggle during World War II. Six out of France's seven oil refineries are on strike. By Wednesday night, 30.8 percent of petrol stations in France had no fuel. Complicating shortages the Pernis 440,000 bbl/day oil refinery in the Netherlands is shut down for technical difficulties. Several French politicians tell refinery management to give the strikers whatever they ask and end the shortage. Perhaps the French government should cut the workers taxes to increase their pay.
French Gov't forcing strikers back to their jobs. Yeah, that'll work..

Quote:
Shell's Pernis oil refinery in the Netherlands - Europe's largest - suffered a malfunction Thursday, providing another source of anxiety for the continent's diesel market already disrupted by strikes in France. The 404K bbl/day refinery near Rotterdam has been flaring elevated amounts of gas following the incident.


I hear the Janet Yellen Treasury Report got canceled today in favor of the January 6th Committee hearings. That report must have been a barn burner versus the CPI.


Yesterday I reported a big Long buying XOM at 2pmET for about 30 minutes, everything thrown out there from $98.40 to $98.60. I guess they knew what they were doing..


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irish pete ag06
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9:38p, 10/13/22
AG
https://www.instagram.com/reel/CjqQMyRDgaf/?igshid=NDc0ODY0MjQ=
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Philip J Fry
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In reply to Brewmaster • 9:42p, 10/13/22
AG
Are we expecting an open at 55 tomorrow?
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Bnels1323
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10:30p, 10/13/22
AG

I found this to be an interesting outlook on how inflation can affect our markets in the long-term. According to Air Gas Specialty products "Anhydrous ammonia is one of the most commonly used fertilizers (in fact, 87 percent of all anhydrous ammonia is used as fertilizer) because it is one of the most efficient nitrogen delivery systems for plant growth. It's often used to increase the yield of corn crops." the 87 percent does not seem to be exact, but the lowest I saw was 80. Also, this is widely used on wheat. At the end of the next harvest, how much will this be a factor? We shall see
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Brewmaster
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In reply to Philip J Fry • 8:09a, 10/14/22
AG
Philip J Fry said:
Are we expecting an open at 55 tomorrow?
It's possible today. It seems like in this downtrend, when the markets rip on a reversal, we then consolidate for a few days before higher
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$30,000 Millionaire
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8:11a, 10/14/22
AG
So kind of not interested in fresh longs at the open.

Interested here.
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Ragoo
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In reply to $30,000 Millionaire • 8:37a, 10/14/22
AG
Came back to 3690…
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$30,000 Millionaire
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8:39a, 10/14/22
AG
Bought Tsla 223. Stop 218
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$30,000 Millionaire
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In reply to Ragoo • 8:40a, 10/14/22
AG
Ragoo said:
Came back to 3690…


I missed it. Thought we would get full gap fill.
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Ragoo
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In reply to $30,000 Millionaire • 8:44a, 10/14/22
AG
We still might.
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Ragoo
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8:45a, 10/14/22
AG
3680 looks like a good spot to consider
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Ragoo
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8:45a, 10/14/22
AG
But a full retrace to 3670 would be much better.
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$30,000 Millionaire
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In reply to $30,000 Millionaire • 8:50a, 10/14/22
AG
$30,000 Millionaire said:
Bought Tsla 223. Stop 218


This looked so promising then it puked. Let's see if it works out.
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