Yep, if you must trade, size down and have your stops entered immediately.
Stock Markets
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Last: 2 hrs ago by Brewmaster
Ag CPA said:Dan Scott said:
SPX back to 200MA. Fudge it happened without me
Came back, this is your lucky day.
This gets to 3800ish, going to get some calls.
Right into the zone. Trails set at 160%+
Let's see now.
Let's see now.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
It's really beautiful
Question: I bought some MCB $40 puts last week that are heavily in the money today. However there's no bid on these as the brokerage is allowing closing orders only. Is the only way to cash these in to exercise the option?
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AG
Buy the shares on margin, exercise puts?
At the risk of y'all not thinking this if funny... BOIL is up 9+%
Reversal
great posts as alwaysHeineken-Ashi said:March 2008 Bear Sterns collapsesFightin2010 said:
Isn't the bottom typically in around six months after rate decrease? Haven't double checked it but if true we still have a ways to go down
September 2008 FED takes over Freddie and Fannie and Lehman goes bust.
October 2008 TARP followed by big market drop.
March 2009 market low
and March of 09 markets finally rallied off those rates.
Added to my XOM long shares. Should have bought some long calls as well.
3810 major support was my battleplan buy alert. Use this bounce to apply covered calls on 50% for much better premiums now and 100% Put back down to entry price, for lower overall strategy win.
Premiums are looking pretty high today
oldarmy1 said:
3810 major support was my battleplan buy alert. Use this bounce to apply covered calls on 50% for much better premiums now and 100% Put back down to entry price, for lower overall strategy win.
These become big money if the feds do a quarter instead if half percent rate hike I'm assuming as well that half is baked in.
Tried to nail the VIX puts but missed it by a cent. Spread was a it wide.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
#shouldveboughtmore
#shouldve_told_us!SoTXAg09 said:
#shouldveboughtmore
great job!
I did, and $10 earlier.perma Brew doomster said:#shouldve_told_us!SoTXAg09 said:
#shouldveboughtmore
great job!
Not all Bank stocks are showing reversal attempts. Check $MCB. That looks like a stock failing and about to take a bigger dive.
— Disciplined Trading (@oldarmy1) March 10, 2023
nice "W" look if you include premarket dip
I would caution everyone here -- we opened today below the AVWAP of the March 2020 COVID low. We've been below twice -- Sept - Nov 2022, and then mid-December to early January of this year. Any length of time below this level (currently sitting ~386 on SPY) opens for a larger move down imho
oldarmy1 said:I did, and $10 earlier.perma Brew doomster said:#shouldve_told_us!SoTXAg09 said:
#shouldveboughtmore
great job!Not all Bank stocks are showing reversal attempts. Check $MCB. That looks like a stock failing and about to take a bigger dive.
— Disciplined Trading (@oldarmy1) March 10, 2023
I got into this after your call out, but sold Friday afternoon for a 5% gain. Figured they would announce a plan over the weekend to settle all this down and it'd be worthless.oldarmy1 said:I did, and $10 earlier.perma Brew doomster said:#shouldve_told_us!SoTXAg09 said:
#shouldveboughtmore
great job!Not all Bank stocks are showing reversal attempts. Check $MCB. That looks like a stock failing and about to take a bigger dive.
— Disciplined Trading (@oldarmy1) March 10, 2023
Feel sick.
I had 4 puts on western alliance that I sold Friday for a quick 10% pop expecting a fed announcement over the weekend. Would have made $34k if I still had them.
Up 3.5% today and I think the longest trade I have been in is 10 minutes… quick moves and quick sells has worked well. Not holding and hoping on todays market with CPI and everything else going on.
I don't disagree. The market gave us a beautiful entry level and then a wonderful bounce. If we can hit a new intraday high it will be all eyes to see if it quick fades or pushes to 3890 next level Model T based on Friday candle. We already achieved the Model T from Friday high to today low 3871, which is where I executed puts and covered calls to lock it down. CPI might take a back seat to any other financial shockwaves.Ranger222 said:
I would caution everyone here -- we opened today below the AVWAP of the March 2020 COVID low. We've been below twice -- Sept - Nov 2022, and then mid-December to early January of this year. Any length of time below this level (currently sitting ~386 on SPY) opens for a larger move down imho
I went with a $50 covered call and $40 Put out to Apr 28 on SCHW buys at $47. I want in the stock again after selling out.
ProgN said:
Red to Green today
New day highs on macro's. If it drops and loses VWAP you have you signal to short now. VWAP on SPY is just above $384, so if you think this fails buy the expiring $383's on the cheap and take the smaller stop loss on continuation.
VWAP has moved up to $384.50 area on SPY
Green today. Not been easy. 3900 giving problems now
VWAP $385.50 Be surprised if it rises beyond this level.
Spy lost intraday rising wedge but just sitting in this 387.5-389 range
All these stocks with tails formed by intraday reversals become watch points. Example is META. It reversed back up into recent sideways channel after losing it this morning. If it can break to a new high above $190 then quit the watch. But if it begins moving back into the tail below $180 and loses $175 its almost always a sure sign of a big drop. Until then trap action keeps these treading water, which produces the sideways patterns.
Downside setup is perfect. Downtrend is forming. Hourly candles are fighting it. If second half of the day and tomorrow start making lower highs and lower lows watch out below.oldarmy1 said:
All these stocks with tails formed by intraday reversals become watch points. Example is META. It reversed back up into recent sideways channel after losing it this morning. If it can break to a new high above $190 then quit the watch. But if it begins moving back into the tail below $180 and loses $175 its almost always a sure sign of a big drop. Until then trap action keeps these treading water, which produces the sideways patterns.
"H-A: In return for the flattery, can you reduce the size of your signature? It's the only part of your posts that don't add value. In its' place, just put "I'm an investing savant, and make no apologies for it", as oldarmy1 would do."
- I Bleed Maroon (distracted easily by signatures)
- I Bleed Maroon (distracted easily by signatures)
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