Odd price action and volume in /ES since ~2am
Stock Markets
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Last: 12 min ago by Enzomatic
Per Bloomberg, Hedge funds have loaded record high short position in the US treasuries ahead of the FOMC tomorrow- they expect yields to spike, $DXY to surge and $SPY to crash.
— TIC TOC TIC (@TicTocTick) January 31, 2023
This could be epic . pic.twitter.com/YoGmDyvlE7
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Buyers comfortable buying SPY at that level to go long no matter what comes?
Could be an interesting day. That's some real range.
You don’t trade for money, you trade for freedom.
Farmer @ Johnsongrass, TX
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Reads like everyone is on one side of the boat..
The first thing that sticks out at me is that price this morning is respecting the low from Friday but is also above yesterday low
You don’t trade for money, you trade for freedom.
Bought MSFT 2/3 250C at the bell. 20% trailing stop. Fingers crossed. Small account that I will consider tuition if I lose it.
FJ43 said:Per Bloomberg, Hedge funds have loaded record high short position in the US treasuries ahead of the FOMC tomorrow- they expect yields to spike, $DXY to surge and $SPY to crash.
— TIC TOC TIC (@TicTocTick) January 31, 2023
This could be epic . pic.twitter.com/YoGmDyvlE7
This makes me want to buy some spy calls.
Up on some long scalps. Gonna be busy now.
Size light. Take gains fast
Size light. Take gains fast
You don’t trade for money, you trade for freedom.
Maybe today's a good day for a lesson from you, $30k. I keep looking for topping action on MSFT but I'm not seeing it yet (edit to add since I started this post it might've happened). Watching the top and bottom shadows on 5 minute candles. I don't want to get greedy like I did on the last few calls I bought, where I could've had singles and doubles if I had exited when I thought about it. Any thoughts on it?
Second edit: still no topping action that I see, as of 9:37 AM. My 2/3 255C are up 30+% at the moment. I think my psychological downfall in options trading so far is getting greedy. Entry has been well timed, generally, but I hang on too long and end up breaking even basically.
Second edit: still no topping action that I see, as of 9:37 AM. My 2/3 255C are up 30+% at the moment. I think my psychological downfall in options trading so far is getting greedy. Entry has been well timed, generally, but I hang on too long and end up breaking even basically.
Take the 30% and run.Boy Named Sue said:
Maybe today's a good day for a lesson from you, $30k. I keep looking for topping action on MSFT but I'm not seeing it yet (edit to add since I started this post it might've happened). Watching the top and bottom shadows on 5 minute candles. I don't want to get greedy like I did on the last few calls I bought, where I could've had singles and doubles if I had exited when I thought about it. Any thoughts on it?
Second edit: still no topping action that I see, as of 9:37 AM. My 2/3 255C are up 30+% at the moment. I think my psychological downfall in options trading so far is getting greedy. Entry has been well timed, generally, but I hang on too long and end up breaking even basically.
It's FOMC day. Trading volume is going to start drying up at some point here mid-morning, and stay dead until FOMC time (2 eastern). Then it's going to be a wild ride and who knows where those end up.
Take your winnings, get back in after once the market digests the minutes from today if it makes sense.
Farmer @ Johnsongrass, TX
Joined:
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Posts:
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How long do you want to ignore this user?
XOM
All I can say is if you have been watching since Pre-Market and the ER this morning until right now.....it's been more exhilarating than an 8 second ride on Bushwacker.
All I can say is if you have been watching since Pre-Market and the ER this morning until right now.....it's been more exhilarating than an 8 second ride on Bushwacker.
FOMC is tomorrow.FTAG 2000 said:Take the 30% and run.Boy Named Sue said:
Maybe today's a good day for a lesson from you, $30k. I keep looking for topping action on MSFT but I'm not seeing it yet (edit to add since I started this post it might've happened). Watching the top and bottom shadows on 5 minute candles. I don't want to get greedy like I did on the last few calls I bought, where I could've had singles and doubles if I had exited when I thought about it. Any thoughts on it?
Second edit: still no topping action that I see, as of 9:37 AM. My 2/3 255C are up 30+% at the moment. I think my psychological downfall in options trading so far is getting greedy. Entry has been well timed, generally, but I hang on too long and end up breaking even basically.
It's FOMC day. Trading volume is going to start drying up at some point here mid-morning, and stay dead until FOMC time (2 eastern). Then it's going to be a wild ride and who knows where those end up.
Take your winnings, get back in after once the market digests the minutes from today if it makes sense.
Then 3 big boys reporting earnings on Thursday.
FOMC meetings are today/tomorrow but I'm fairly certain the press conference/release isn't until tomorrow afternoon.
That's the advice I needed, FTAG. Made 27%. Thanks.
https://tradingeconomics.com/calendar
Everyone should glance at a trading calendar each day. It also explains the question someone had about the move pre-market.
Everyone should glance at a trading calendar each day. It also explains the question someone had about the move pre-market.
wanderer said:
FOMC meetings are today/tomorrow but I'm fairly certain the press conference/release isn't until tomorrow afternoon.
Ah damn yeah you are right. I'm blaming it on brain freeze here in DFW!
You should be happy with that. really hard to hit homers in the bear market.Boy Named Sue said:
That's the advice I needed, FTAG. Made 27%. Thanks.
25% gainers are not too shabby!
wrong board
Not horrible if you caught some longs. I think the moves are about over.
You don’t trade for money, you trade for freedom.
Should I write calls on AAPL, GOOG, AMZN now or gamble that the chief says some positives and the market explodes upward and I write then before close tomorrow?
FGEN rocket
Bought OXY 2/10 66Cs at .97, just based on EMA cross.
maybe the best way to answer is to ask a question:Boy Named Sue said:
Maybe today's a good day for a lesson from you, $30k. I keep looking for topping action on MSFT but I'm not seeing it yet (edit to add since I started this post it might've happened). Watching the top and bottom shadows on 5 minute candles. I don't want to get greedy like I did on the last few calls I bought, where I could've had singles and doubles if I had exited when I thought about it. Any thoughts on it?
Second edit: still no topping action that I see, as of 9:37 AM. My 2/3 255C are up 30+% at the moment. I think my psychological downfall in options trading so far is getting greedy. Entry has been well timed, generally, but I hang on too long and end up breaking even basically.
why are you trying to guess the top vs. entering when you know it has topped? Remember, goal is to catch points via some of the move not to catch the entire move. Trading is easier when you realize it is not about being right but about making money as easily as possible.
You don’t trade for money, you trade for freedom.
Upgrade + 35 price target.Philip J Fry said:
FGEN rocket
Thanks for that 30k. You're right, of course
Got out of that OXY quick. I'm learning.
Got out of that OXY quick. I'm learning.
Man, ASO is just relentless.
Really would like it to cool off for an entry.
Really would like it to cool off for an entry.
OXY is easiest to trade via short puts or shares in my opinion. very finnicky intra-dayBoy Named Sue said:
Bought OXY 2/10 66Cs at .97, just based on EMA cross.
You don’t trade for money, you trade for freedom.
Warren seems to have made it crowded.
Setup is there for a long but it's a bad time of day
You don’t trade for money, you trade for freedom.
$30,000 Millionaire said:
Setup is there for a long but it's a bad time of day
Yep.
You don’t trade for money, you trade for freedom.
do any of you get email from alumni alliances? is it BS?
You don’t trade for money, you trade for freedom.
Can anyone post the name of the book OA 1 suggested getting?
MRod92
MROD92 said:
Can anyone post the name of the book OA 1 suggested getting?
Handbook of Technical Analysis by Jobman.
See the very first post on this thread for other valuable information and resources.
they're gonna burn premium now and steal your paper. play GTA instead -or- don't forget to put the cover on your TPS reports.
You don’t trade for money, you trade for freedom.
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