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24,945,563 Views | 233715 Replies | Last: 10 hrs ago by Heineken-Ashi
$30,000 Millionaire
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AG
It means nothing yet and you have to assume trend is down until the trend changes. We can wait for that!

What I like about what we are going through now is some clear signals are setting up. There will be volatility with tech earnings and we can just let that unfold. The goal is to grow your account slowly. Read that sentence again.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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AG
Ghetto TA for you guys.

We close above the top line, it's on.

We close below the bottom line, it's toilet bowl


You don’t trade for money, you trade for freedom.
BaylorSpineGuy
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I sadly missed the big rip on Thursday and yesterday but I'm avoiding this FOMO feeling. In the past, I would've jumped into a trade quick to try and avoid missing out (even while the move is already extended), but I'm not doing that this time. I scalped a put today and made about $60 between patients today lol. It was my first trade in over a week. I held the position for probably less than 5 minutes.

I like your admonition to grow an account slowly. I've been too busy to trade actively since I got back from Florida last month, so I'm just doing what I can when I can and I'm content with that for now. Getting experience talking to all of you on here every day has been invaluable, and many of you are experts in your fields, so I've been enlightened on that front as well.

This is the first bear market I've been active in, and the fact that I've grown my tiny trading account up from where it was 3-6 months ago is great, while so many accounts have been blown up. Makes me proud of myself.
Farmer @ Johnsongrass, TX
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lobwedgephil said:

Bob Knights Liver said:

Supposedly the Biden administration is going to explain their plans to lower gasoline prices today or tomorrow morning. We may see E&P stocks take a little hit and then drift. If so the last good buying opportunity may come on Friday, IMO.
They will release 15 million barrels.

The 15mb is part of the original 180mb. It is not a new SPR release. This is 100% truth. The media is spinning the numbers trying to make it appear like more barrels are being released, but t hff ey are regurgitating the same announcement. After the 180mb is complete there is a 10mb November release sale that was in the press one month ago and is still making news each week since. This 10mb November release is legitimate. Unless something changes tomorrow, all Brandon SPR releases are accounted for.

Side note: API Weekly reported a 1.27mb draw on crude. That draw included a 3.4mb pull from the SPR. We will see what DOE/EIA reports tomorrow. Like the numbers have been reporting for weeks and months - crude has been...and still is in a draw. We are freakin short. It's not changing...nor anytime soon. I get my '85 Dooley 454 out of the shop on Friday and I'll be Climate Changing with the accelerator all the way home at 9.75mpg assisting to show demand destruction is a myth.
lobwedgephil
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$30,000 Millionaire said:

Ghetto TA for you guys.

We close above the top line, it's on.

We close below the bottom line, it's toilet bowl



Good areas, I want over 3830 for upside, but expect rejection.
M4 Benelli
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https://www.whitehouse.gov/briefing-room/statements-releases/2022/10/18/fact-sheet-president-biden-to-announce-new-actions-to-strengthen-u-s-energy-security-encourage-production-and-bring-down-costs/

Dark Xiden's upcoming teleprompter slobberings in brief.

[ol]
1.When the price of gas goes up, it's due to to Evil Vladimir. When it goes down, it's due to the ice cream loving PeePaw. Cornpop was a bad dude, but he's no match for Evil Vlad the Pumpaler.[/ol]
[ol]
2.Gas prices are lower than they were at the peak. (Don't worry about what they were two years ago under that other Evil SOB)-15m barrels from SPR to be sold, concluding the 180m SPR release announced in Spring. Same prattle, different slobber.[/ol]
[ol]
3.The Resident will not hesitate to sell more from SPR, in between nap time and depends changings : "The Resident is prepared to authorize significant additional sales in coming months if conditions require. DOE will be prepared to act quickly to inject additional supply into the market if needed, and the Administration will not hesitate to use this tool, or the others at its disposal, to shore up the global supply of energy, support domestic inventory levels, and bring prices down for Americans" (Before Mid-Terms.)[/ol]
[ol]
4.The Resident will allow SPR to be refilled via futures bidding process, at a price of $67 - $72. (Of note: With the current futures curve, these drecks could starting buying for delivery in late 2024.)[/ol]
[ol]
5.Peepaw is mad at refineries. "Third, the Resident is calling on companies to pass through lower energy costs to consumers right away." Also: "Keeping prices high even as input costs fall is unacceptable, and the Resident will call on companies to pass their savings through to consumers now."[/ol]

FJB, Pablum par for the course.
topher06
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I'm pretty conservative and have posted a couple of tirades as Biden continues to attack the industry while claiming he is encouraging production, but this looks like a repost of a chain mail rant.
topher06
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To get this back on track, futures are now approaching flat. Long time to go, but not a promising sign after being up 40+

Edit: s&P futures
Bob Knights Paper Hands
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Actually that's better for continuation. If we gap up again we could limit buyers, since many would wait to see how the market digests in during the cash session. Sellers would likely take profits and it would take another intraday reversal to keep us from heading south. Irish 1.0 would note that you're likely to see those peak AH prices again during the cash session without a big jump up. It's still OPEX week and we're still in a bear market, but I see this premarket pullback as bullish.

Maybe we're going to get an announcement of Federal Government moves that the market likes. I still think there's an October surprise waiting for us and it could be temporarily propping up the markets.
BaylorSpineGuy
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Bob Knights Liver said:

Actually that's better for continuation. If we gap up again we could limit buyers, since many would wait to see how the market digests in during the cash session. Sellers would likely take profits and it would take another intraday reversal to keep us from heading south. Irish 1.0 would note that you're likely to see those peak AH prices again during the cash session without a big jump up. It's still OPEX week and we're still in a bear market, but I see this premarket pullback as bullish.

Maybe we're going to get an announcement of Federal Government moves that the market likes. I still think there's an October surprise waiting for us and it could be temporarily propping up the markets.



Lololol. Going up = bearish. Going down = bullish.

Just kidding. I see what you mean. This market is super tricky. OpEx full of surprises as always. Designed to suck premium to the max.
Farmer @ Johnsongrass, TX
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HOUSTON - Baker Hughes (NASDAQ: BKR) will hold a webcast Wednesday, Oct. 19, 2022, to discuss the results for the third quarter ending Sept. 30, 2022. The webcast is scheduled to begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). A press release announcing the results will be issued at 7 a.m. Eastern Time (6 a.m. Central Time).f

HOUSTON - Kinder Morgan, Inc. (NYSE: KMI) today announced it will release third quarter 2022 earnings results on Wednesday, October 19, 2022 after market close and will hold a live webcast and conference call.
When: October 19, 2022, at 3:30 p.m. CT, 4:30 p.m. ET

HOUSTON - Schlumberger Limited (NYSE:SLB) will hold a conference call on October 21, 2022 to discuss the results for the third quarter ending September 30, 2022. The conference call is scheduled to begin at 9:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time.
Bob Knights Paper Hands
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Well a pull back into the range of yesterday's close is good for bulls. Now it's pulled back close to yesterday's lows so that's probably not so good.

We aren't far from Max pain, so it wouldn't surprise me for a day of big chop unless big news comes out.
$30,000 Millionaire
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AG
Opex weeks are normally trapper than it has been and it may begin. Historically opex is bullish by the way.

As for today. I don't see anything to do right now. I am going to at least let the first 30-60 trade before thinking about anything.
You don’t trade for money, you trade for freedom.
irish pete ag06
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AG
Fintwit has discovered XSP. The CBOE added 0DTE for it too. So the volume should at least pick up on that.
$30,000 Millionaire
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AG
irish pete ag06 said:

Fintwit has discovered XSP. The CBOE added 0DTE for it too. So the volume should at least pick up on that.


Man. They always discover my stuff.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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AG
Cboe added micros too.
You don’t trade for money, you trade for freedom.
$30,000 Millionaire
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AG
Nanos. Ticker is nanos. 1/10 XSP, 1/100th SPX.
You don’t trade for money, you trade for freedom.
Farmer @ Johnsongrass, TX
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Farmer @ Johnsongrass, TX said:

XOM breaking the $102.50 (some say $102.24) barrier is a clear shot to $105. Either way,...we're going. See you at $105.

Are we there yet?

Have a great day!
irish pete ag06
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AG
Wow. So NANOS are actually a 1x multiplier. Meaning if the option is listed at 1.76... you pay $1.76 for it.
Ccutamu
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Farmer @ Johnsongrass, TX said:

Farmer @ Johnsongrass, TX said:

XOM breaking the $102.50 (some say $102.24) barrier is a clear shot to $105. Either way,...we're going. See you at $105.

Are we there yet?

Have a great day!
You selling CCs after earnings?
Charismatic Megafauna
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AG
Hello, i would like to buy 1 stonk please!
Charismatic Megafauna
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AG
Laredo petroleum (LPI) seems to be overreacting to a q4 production forecast cut. Seems like a swing opportunity
irish pete ag06
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Bob Knights Paper Hands
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irish pete ag06 said:

Fintwit has discovered XSP. The CBOE added 0DTE for it too. So the volume should at least pick up on that.

That is terrible and wonderful at the same time.
irish pete ag06
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AG
I'm a fan. Cash settled index options receive favorable tax treatment (one day, when I have to report a gain, this will help). I've traded them before and the spread on some of them are gross sometimes.
Bob Knights Paper Hands
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This reversal upwards happened as SPY and QQQ we're at the bottom of bull demand zones and QQQ at it's opening price. We could run up to the top intraday BB on this.
Bob Knights Paper Hands
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Me too. Just saying anything that makes my degeneracy easier is also a bad thing.
Bob Knights Paper Hands
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Entering bear demand zone on SPY and QQQ RSI. If we turn back down here this tells me it's just chop. If we power through, we may have an intraday trend for now.

I'm still sitting on hands.

Edit - I'm slow enough at typing on phone that it already began turning down by the time I posted that. Old people.
wanderer
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irish pete ag06 said:

I'm a fan. Cash settled index options receive favorable tax treatment (one day, when I have to report a gain, this will help). I've traded them before and the spread on some of them are gross sometimes.
How so? Can you go into that?
topher06
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Out of my SPY puts for a 12%ish gain, which feels better than the 30% loss I was expecting on the run up caused by the NFLX earnings yesterday. Now option-less, other than a few GOLD leaps and outstanding covered calls. Feels like a chop day, and at least I don't have to feel like a don't pass line person
Quacked
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small time compared to you guys, but I love all the knowledge.

Holding some 105c with friday expiration I lotto'd yesterday with a .25 average. Having a hard time selling them , but i sell at 100% no matter what . If XOM runs to 105, I dont wanna know.


ETA: took 30 seconds from sell for a .40 cent increase.


YOU'RE WELCOME
Brian Earl Spilner
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AG
Here it comes. Bulls time.
$30,000 Millionaire
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AG
I have a limit buy for upro at $31
You don’t trade for money, you trade for freedom.
Spoony Love
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AG
Trap?
vette
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AG
Might not be the right thread to ask, but this one gets the most traffic... where do we expect the 10 year treasury to be at by year-end? Is there some place you guys go to look at a forward curve? Been trying to find some forecasts, but not having a lot of luck.
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