It's really sad. I don't assume the politicians are ignorant enough to not understand that energy production and electricity generation are upfront capital intensive ventures. Even legislation to raise taxes in the future hurts decisions made today. They have to understand this and either don't care or have an agenda. Sorry, this is the wrong thread for a political rant. Related to stocks - I see increased volatility on energy ahead. Energy prices effect most other industries.

Bob Knights Paper Hands said:

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It's really sad. I don't assume the politicians are ignorant enough to not understand that energy production and electricity generation are upfront capital intensive ventures. Even legislation to raise taxes in the future hurts decisions made today. They have to understand this and either don't care or have an agenda. Sorry, this is the wrong thread for a political rant. Related to stocks - I see increased volatility on energy ahead. Energy prices effect most other industries.

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They got punished by the markets when they proposed tax cuts. By their logic they will be rewarded for passing tax increases.

The markets reacted to the prospect of raising rates and curbing handouts. Short-term that hurts the economy, just as we've seen domestically, but long-term it's going to be necessary and will only be worse the longer they kick the can down the road.

Also short-term overall equities market reaction is not the same as specific product price reaction to massively increased taxes on that particular product.

Charismatic Megafauna said:

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Hourly spy chart looks like a big ol h&s, or perhaps it's flipping the bird. Carrying a 396p into tomorrow

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Got an order in premarket to buy shares at 390.01. I kinda hope it doesn't fill because today could be bloody
Edit: it was a 395 i bought for 1.69, canceled the shares order and sold at open for 4.99. Winning!

Revisit 392.8 today for a quick model t?

Jumped into LABU this morning while it's hanging out in the $6 range.

I bought some LABU. $7 target.

Charismatic Megafauna said:

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Revisit 392.8 today for a quick model t?

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rounding formation since 10th of November, pretty bearish looking. How about a Q's chart since a lot like to play it...
278, then 273ish then 265.60, ouch!

and I'm not saying you're wrong, there is a gap to fill!

Picked up a few SQQQ while it's under 47

Nice of them to prop NVDA up after those earnings yesterday.

Sure it will drop next week after taking out the weekly puts tomorrow.

just beware of it pushing up to fill that gap now., before it continues down

For sure! I'm using my swing strategy on this so it's just my initial buy, I'll be layering in so if it goes down that's fine with me. I only buy 20% of my plan with my first purchase, and average down if it moves down. Never plant my flag with one buy. I went with shares instead of options, but ultimately by mid December I expect this to be a win - regardless of how many shares I'm holding. I really appreciate the response sir!

UVXY 52wl is 8.71 and it's touching 9.00 this morning. Feels like it hasn't been higher than 10 in forever but it's only been a couple weeks or so. I bet it stays relatively flat through the holidays but of course that opinion is probably worth what you paid for it.

Yeah really wanted to see spy up to 394 before I start looking at puts. Noticed spy has a nice round also. Will look at spy or QQQ for puts depending on which one is hitting the top of the rounded arc.

$30,000 Millionaire said:

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I bought some LABU. $7 target.

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Don't let it go red.

Dan Scott said:

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Interesting action in oil. Usually a weaker dollar means higher oil prices, but the dollar is the lowest it's been in a while and oil is near it's recent lows. Might be a sign the economy is starting to feel the pain.

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I have been wondering if traders are betting oil goes lower with the weaker economy. Demand may not drop off as much as they think and it may overshoot to the downside. Definitely not my area of expertise and is a good question for Farmer.

Going to get a few SPY puts on this push

perma Brew doomster said:

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Charismatic Megafauna said:

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Revisit 392.8 today for a quick model t?

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rounding formation since 10th of November, pretty bearish looking. How about a Q's chart since a lot like to play it...
278, then 273ish then 265.60, ouch!

and I'm not saying you're wrong, there is a gap to fill!

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Yo Brew, I'm real proud of you and imma let you finish, but the Model T is the best trading strategy of all time

Big green candles, any news?

Golf1 said:

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Going to get a few SPY puts on this push

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oops

Very small position. Don't mind holding since they expire December 16.

Brian Earl Spilner said:

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Big green candles, any news?

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I didn't get to close my puts I've been holding for 3 days lol.

Watch the 3950 back test. If it fails, load up some puts

LOL, thanks dawg. literally no trades for me today. Just put on some AAPL calls though, following flow and set up. OA is already on it (of course). I was waiting for the flow to hit.

I saw Pelosi was speaking and announced she's stepping down. Not sure if more was said or people reacted that way because of it but I thought it was funny of the timing.