393 was the peak on Friday. I bought 393Cs this morning. Can't decide whether to take profits or see what happensGolf1 said:
At this rate SPY is going to be hitting $400 by end of day. Doesn't seem to want to pull back at all.
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Last: 28 min ago by Brewmaster
Even with the gap up and big green, we still have yet to overtake the 8 EMA on the daily. We are still very clearly in a downtrend until we aren't.
I think I know the answer to this, but I bought SBNY puts Friday and it is permanent halt. I am screwed right?
Which EMA study are you using?irish pete ag06 said:
Even with the gap up and big green, we still have yet to overtake the 8 EMA on the daily. We are still very clearly in a downtrend until we aren't.
I'm using the adaptive in ThinkorSwim, it's showing slightly different than yours - shows we have crossed back above the 8 day.
OA, thoughts on METAs explosion move today?
wanderer said:
OA, thoughts on METAs explosion move today?
I might roll out Puts to May. Shorts got crushed in the macro momentum move. I want all my Puts eventually to be late May/early June for the "go away in May" selling.
Meta announced more job cuts.
FJ43 said:
Evening Gents!
Well….could have bought a boat if I held onto those VIX calls just a tad bit longer. All I get is a new Stetson hat and a nice steak dinner. My bad. But at least Mrs FJ can eat a steak this weekend.
Exited SPY puts with the opening push down. Solid trade.
Missed the VIX puts by a cent with a 'drive-buy' but thats what I get for drive trading.
Tried to take SPY long for the bounce and missed that too. Again drive-buy' trade.
Bought DNN at 1.04 today.
Sat on hands rest of the day. Most likely I will lotto trade Friday and Try to make some spending money.
Hope y'all killed it today.
What are your thoughts on DNN?
Jet Black said:FJ43 said:
Evening Gents!
Well….could have bought a boat if I held onto those VIX calls just a tad bit longer. All I get is a new Stetson hat and a nice steak dinner. My bad. But at least Mrs FJ can eat a steak this weekend.
Exited SPY puts with the opening push down. Solid trade.
Missed the VIX puts by a cent with a 'drive-buy' but thats what I get for drive trading.
Tried to take SPY long for the bounce and missed that too. Again drive-buy' trade.
Bought DNN at 1.04 today.
Sat on hands rest of the day. Most likely I will lotto trade Friday and Try to make some spending money.
Hope y'all killed it today.
What are your thoughts on DNN?
I don't think the calculus on DNN has changed since first brought to the board (may have been FJ who first did).
It basically oscillates in a multi-year darvis box.
Buy in the $1-$1.10 window, sell when it gets up to the $1.30-1.4 area.
Rinse, repeat.
Hard rejection of 200MA and News of us drone taking down Russian fighter jetl
Sold the puts way too early
WAL halted.
That Russia vs. US drone news sure smacked the market in the face.
And here we go…
Just my luck. Had a quick scalp of a bounce back in place and ****ing news kills it.
I hate news markets.
I hate news markets.
KRE spider for regional banks. Bought puts. Think more incoming
Went Mar 31 $42
Went Mar 31 $42
FTAG 2000 said:Jet Black said:FJ43 said:
Evening Gents!
Well….could have bought a boat if I held onto those VIX calls just a tad bit longer. All I get is a new Stetson hat and a nice steak dinner. My bad. But at least Mrs FJ can eat a steak this weekend.
Exited SPY puts with the opening push down. Solid trade.
Missed the VIX puts by a cent with a 'drive-buy' but thats what I get for drive trading.
Tried to take SPY long for the bounce and missed that too. Again drive-buy' trade.
Bought DNN at 1.04 today.
Sat on hands rest of the day. Most likely I will lotto trade Friday and Try to make some spending money.
Hope y'all killed it today.
What are your thoughts on DNN?
I don't think the calculus on DNN has changed since first brought to the board (may have been FJ who first did).
It basically oscillates in a multi-year darvis box.
Buy in the $1-$1.10 window, sell when it gets up to the $1.30-1.4 area.
Rinse, repeat.
Thanks
310 million shares of Schwab traded in last three days.
Markets are sideways into the Fed. Count on it, unless another major blow up occurs. And even that might only take us to the bottom of the box, since Mommy Fed is bailing everyone out. Zero consequence financials. Must be nice!
$SPX You heard it here 1st. Predictive Analysis remains sideways into Fed. We didn't get follow through on the squeeze which just means we end up right smack in the middle of the box. If you didn't enter puts on the spike then don't now because you would be trimming into MT. pic.twitter.com/SEGz4GJ6Xu
— Disciplined Trading (@oldarmy1) March 14, 2023
Talking next week Fed (interest rate discussion)?oldarmy1 said:
Markets are sideways into the Fed. Count on it, unless another major blow up occurs. And even that might only take us to the bottom of the box, since Mommy Fed is bailing everyone out. Zero consequence financials. Must be nice!$SPX You heard it here 1st. Predictive Analysis remains sideways into Fed. We didn't get follow through on the squeeze which just means we end up right smack in the middle of the box. If you didn't enter puts on the spike then don't now because you would be trimming into MT. pic.twitter.com/SEGz4GJ6Xu
— Disciplined Trading (@oldarmy1) March 14, 2023
Yes.....just like last time. Chop in the box into Fed and then a directional move. Mark the levels and trade the high/low with more volume.
Pretty crazy move to end the day. Hope y'all had some lottos go y'all's way!
Need more days like today.
Wish you'd been posting!
Boy Named Sue said:
Wish you'd been posting!
I couldn't and my job is getting busier so my windows are getting smaller.
Farmer @ Johnsongrass, TX
Joined:
Sep 25, 2017
Posts:
5,416
How long do you want to ignore this user?
API Numbers
Crude = +1.1M
Gas = -4.6M
Distill = -2.9M
Cushing = -1.0M
Draw of 7.4M
EIA tomorrow
Don't fall for the crude manipulation.
IMO, we are headed for the same run in energy that we had last year going into this time. However, this time, JB doesn't have the SPR backstop to flood the market with lower prices at the pump.
GLTA
Crude = +1.1M
Gas = -4.6M
Distill = -2.9M
Cushing = -1.0M
Draw of 7.4M
EIA tomorrow
Don't fall for the crude manipulation.
IMO, we are headed for the same run in energy that we had last year going into this time. However, this time, JB doesn't have the SPR backstop to flood the market with lower prices at the pump.
GLTA
What's your take on the natgas side? I was waiting for it to dip back towards 2 dollars and ride it back to 3-4.
Nice word from Icahn. Challenging times indeed.
I have said now for a while that inflation is a cancer to an economy - nice to hear similar sentiment from Icahn. Interest rate hikes are the chemotherapy, and whatever breaks (bank failures, job losses, price re-valuations, etc.) is the side effect of the chemotherapy.
Unfortunately, austerity measures are also likely needed at the federal level, but there doesn't seem to be enough IQ or political willpower - not sure which - to get that done.
I have said now for a while that inflation is a cancer to an economy - nice to hear similar sentiment from Icahn. Interest rate hikes are the chemotherapy, and whatever breaks (bank failures, job losses, price re-valuations, etc.) is the side effect of the chemotherapy.
Unfortunately, austerity measures are also likely needed at the federal level, but there doesn't seem to be enough IQ or political willpower - not sure which - to get that done.
BaylorSpineGuy said:
Nice word from Icahn. Challenging times indeed.
I have said now for a while that inflation is a cancer to an economy - nice to hear similar sentiment from Icahn. Interest rate hikes are the chemotherapy, and whatever breaks (bank failures, job losses, price re-valuations, etc.) is the side effect of the chemotherapy.
Unfortunately, austerity measures are also likely needed at the federal level, but there doesn't seem to be enough IQ or political willpower - not sure which - to get that done.
Yeah, unfortunately sometimes someone gets so sick that chemotherapy will kill them painfully, so they go into hospice, where they die slightly later, and are in comfort until the end
Jet Black said:FJ43 said:
Evening Gents!
Well….could have bought a boat if I held onto those VIX calls just a tad bit longer. All I get is a new Stetson hat and a nice steak dinner. My bad. But at least Mrs FJ can eat a steak this weekend.
Exited SPY puts with the opening push down. Solid trade.
Missed the VIX puts by a cent with a 'drive-buy' but thats what I get for drive trading.
Tried to take SPY long for the bounce and missed that too. Again drive-buy' trade.
Bought DNN at 1.04 today.
Sat on hands rest of the day. Most likely I will lotto trade Friday and Try to make some spending money.
Hope y'all killed it today.
What are your thoughts on DNN?
FTAG2000 nailed it. It's a easily trade-able stock in a Darvas Box. It's at the bottom of it so the RR is solid as long as you can manage the trade and have the discipline to cut.
Considering RR is about 1-2 minimum to 1-5.
Similar to CIDM for these little guys. Over the years I've made a crap ton on these just trading the Darvas. I used to go net free on a % at a time but I switched to taking gains on these.
Here's the rough box off of a phone and fat finger chart. Ballpark SRs shown.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
Well done!
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
FJ43 said:
Closed back in the box. Keep an eye on.
This moved 5+% today.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
FJ43 said:
This is an easy Darvas Box trade boys……
This is getting close for me. I'll be a buyer at 44 and double my position at 40
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
FJ43 said:
Don't know where this one is going but keep an eye on. Closes above 19 and this could make the next leg.
Maybe set some alerts.
$AMAT
This moved almost 4% today. I didn't action. Want to see tomorrow. Closed above 119 but let's see.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
I'm just sayin…..
Be careful Gents…..
Be careful Gents…..
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
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