$30,000 Millionaire said:

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See why I'm not playing today?

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I'd guess it has more to do with having a great week already and not overtrading.

Today though looks good to me -
1. Go long shortly after open on lots of buy volume. 2. Could've gone long at 9 am on that giant green candle.

3. or go short at 10 am central on the double top that started to look domed and doomed.

I missed the first 2 due to work, but I'm in on option 3. I have a few puts out to next week...

OUT already! quick 10% though. I took profit on that green hammer (with volume) at 10:16ish.

Also, I imagine 0DTE directionals would have been pretty tough today with the "50 cents forward, 40 cents backward" movement.

This is not the time of day for trades, guys.

Lunch time on a holiday weekend.

Lmao. Truth.

The hoes will steal your paper if you try to trade right now.

$30,000 Millionaire said:

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The hoes will steal your paper.

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words to live by.

This **** is stupid.

Ain't nothing good to keep this up except burning put premium.

Can't let retail be right.

even in bear markets, there are relief rallies. You know that. This will just be a great spot to short from (next week is my bet).

I think he's saying retail is in puts, so this rally isn't doing them any good. May also be considering that the Fed also does not want the market going up.

That's my interpretation anyway.

The Fed's WSJ mouthpiece signals the next pivot, raising the inflation target upward from 2%.

His last signal was the reduction in the pace of rising rates.

The Fed has posted the transcripts of all FOMC meetings from 2017, pulling back the curtain on the deliberations and rollout of its plan to passively shrink its then-$4.5 trillion asset portfolio https://t.co/dJd1e456mk

— Nick Timiraos (@NickTimiraos) January 13, 2023

they're gonna pin SPX at 4000

Not going to happen until next month at best, right?

SoTXAg09 said:

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I think he's saying retail is in puts, so this rally isn't doing them any good. May also be considering that the Fed also does not want the market going up.

That's my interpretation anyway.

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Who said retail was in puts? It sounds to me like SF is trying to apply fundamentals logic to this: "inflation is high stabilizing and economic prospects are diminishing, therefore stock prices should go down".

It just doesn't work that way, man.

$30,000 Millionaire said:

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SoTXAg09 said:

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I think he's saying retail is in puts, so this rally isn't doing them any good. May also be considering that the Fed also does not want the market going up.

That's my interpretation anyway.

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Who said retail was in puts? It sounds to me like SF is trying to apply fundamentals logic to this: "inflation is high stabilizing and economic prospects are diminishing, therefore stock prices should go down".

It just doesn't work that way, man.

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Well he said they're burning put premium, and then that they can't let retail be right. You would interpret that differently?

Congrats on a great day!

It's not a guarantee that retail is in puts or was in puts.

$30,000 Millionaire said:

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It's not a guarantee that retail is in puts or was in puts.

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Right. But it seemed to infer that imo.

Moving on!

Brian Earl Spilner said:

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South Platte said:

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I'm not invested in BOIL but just looking at it makes me feel sad.

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I've been throwing small bits of cash at it this week and averaging down. Once Freeport opens up it should get a nice bump, and from what I read, unseasonally warm Januarys are typically followed by colder than usual February/March.

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. $10 range seems safe to me.

https://tradingeconomics.com/commodity/natural-gas

Can anyone talk me out of thinking we are headed to the 2s with natural gas?

I meant 10 for BOIL. I can live with it bouncing from 10 to 12 for a while.

to hell with BOIL and UPRO, anybody play MARA from a week or 2 ago? Baller if so! I'd bet it's $10 on Monday. not bad from a low around 3.

perma Brew doomster said:

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to hell with BOIL and UPRO, anybody play MARA from a week or 2 ago? Baller if so! I'd bet it's $10 on Monday. not bad from a low around 3.

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I sold my holdings for tax loss harvesting and then sold some puts a month out. Bittersweet

Scott Redler is doing a free trial for his $2K/year paid service.

I don't have his style of trading and I believe you have to be able to follow this all day for it to work for you, but give it a shot.

techno-ag said:

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I meant 10 for BOIL. I can live with it bouncing from 10 to 12 for a while.

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If Nat Gas goes into the low 2's, I'd imagine BOIL would have to announce their next reverse split. Looks like it takes it about 2-3 years on average for every split. Last one was April, 2020.

Meanwhile costs are soaring on the coasts. Somebody is making bank. There's a huge disparity from the hub price to what some consumers are paying, for a variety of reasons.

But I digress.