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wanderer
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Odd price action and volume in /ES since ~2am

FJ43
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Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11

Spoony Love
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AG
Buyers comfortable buying SPY at that level to go long no matter what comes?
$30,000 Millionaire
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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..
$30,000 Millionaire
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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.
Boy Named Sue
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Bought MSFT 2/3 250C at the bell. 20% trailing stop. Fingers crossed. Small account that I will consider tuition if I lose it.
FTAG 2000
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FJ43 said:




This makes me want to buy some spy calls.
$30,000 Millionaire
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Up on some long scalps. Gonna be busy now.

Size light. Take gains fast
You don’t trade for money, you trade for freedom.
Boy Named Sue
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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.
FTAG 2000
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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.
Take the 30% and run.

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
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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.
GreasenUSA
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FTAG 2000 said:

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.
Take the 30% and run.

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.
FOMC is tomorrow.

Then 3 big boys reporting earnings on Thursday.
wanderer
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FOMC meetings are today/tomorrow but I'm fairly certain the press conference/release isn't until tomorrow afternoon.
Boy Named Sue
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That's the advice I needed, FTAG. Made 27%. Thanks.
GreasenUSA
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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.
FTAG 2000
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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!
FTAG 2000
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Boy Named Sue said:

That's the advice I needed, FTAG. Made 27%. Thanks.
You should be happy with that. really hard to hit homers in the bear market.

25% gainers are not too shabby!
Diggity
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wrong board
$30,000 Millionaire
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Not horrible if you caught some longs. I think the moves are about over.
You don’t trade for money, you trade for freedom.
Lake08
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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?
Philip J Fry
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FGEN rocket
Boy Named Sue
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Bought OXY 2/10 66Cs at .97, just based on EMA cross.
$30,000 Millionaire
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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.
maybe the best way to answer is to ask a question:

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.
FTAG 2000
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Philip J Fry said:

FGEN rocket
Upgrade + 35 price target.

Boy Named Sue
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Thanks for that 30k. You're right, of course

Got out of that OXY quick. I'm learning.
FTAG 2000
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Man, ASO is just relentless.

Really would like it to cool off for an entry.
$30,000 Millionaire
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Boy Named Sue said:

Bought OXY 2/10 66Cs at .97, just based on EMA cross.
OXY is easiest to trade via short puts or shares in my opinion. very finnicky intra-day
You don’t trade for money, you trade for freedom.
irish pete ag06
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Warren seems to have made it crowded.
$30,000 Millionaire
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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
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$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.
$30,000 Millionaire
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do any of you get email from alumni alliances? is it BS?
You don’t trade for money, you trade for freedom.
MROD92
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Can anyone post the name of the book OA 1 suggested getting?
MRod92
frankm01
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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.
$30,000 Millionaire
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AG
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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