CheladaAg said:

---

So where to we go from here? Call it Dec will sit in a good spot. Do we see the market tank come the New Year?

I believe some respected posters on here that are/were permabears lately. I asked in early last month if we were about to see a start of a bull macrotrend bounce and got denounced with "gaps left unfilled".

So, are we still thinking we head back down to fill these gaps before going higher? I've held out a big chunk of cash to wait out the period of interest rate increases and would like to catch a market uptick in the interim before any noise of upcoming bad market news i.e. possible recession.

---

I've already started to lighten up in Roth/IRA accounts and I plan to book profits in taxable accounts on Jan 2. The market is white hot right now and will have to pullback. I'm comfortable not picking the top and building a pile of cash to put to work on that pullback.

sts7049 said:

---

will VIX ever get over 20 again?

---

Sounds like time to buy the VIX

ProgN said:

---

I'm going to start scaling back into my $U trade that I did earlier this year. I see a lot more positive upside than downside with it trading in the $25ish range.

---

I started offloading this today over $38. Over %50 ROI on a stock in less than 60 days is good enough for me.

I had some March Vix $30s from last month that I will add to that probably tomorrow. Mostly I want to be positioned for the state of the union and see if Mr. Potato head does in fact step aside. That will make this interesting in the market for sure.

Is there speculation that biden will resign at sotu?

Yes. OA mentioned it during the trial period then he tweeted it out. Don't remember when that was but since he made it public, it's free to discuss. Haven't heard any real rumblings since so could be a smoke screen. But I think it's worth keeping that info in the back of our brains.

Wow, i missed that. That would trigger some volatility!

Here's the tweet in question, for those that are wondering...

High ranking Washington insider says that Joe Biden will announce during the January ‘24 State of the Union speech that he is stepping down. Harris will become President and appoint Gavin Newsome as VP.

You think the markets are selling off now? pic.twitter.com/N0wdMb9tCG

— OA1 Disciplined Trading Service www.OA1Trading.com (@oldarmy1) September 26, 2023

From September?

Heineken-Ashi said:

---

ravingfans said:

---

Bob Knights Paper Hands said:

---

The sad part is everyone that was paying attention knew this is what was happening. And why wouldn't they, when it is politically beneficial to show a strong economy just before an election, rather than the pile of dog excrement that it is?

So we get a pile of dog excrement covered in a thin layer of frosting. But it's that good buttery frosting that everyone loves so the media can focus on the wonderful frosting we all get to eat and feed to the next generations.

---

So can we confidently make money on the frosting up until day before the election with this knowledge/belief?

---

Trade what's in front of you. Move stops up to support levels. This way, you aren't trying to time a top. You might not sell at tops. But you won't get caught with pants down. And if this keeps going, you keep going with it while knowing you have risk management in place.

Buy new at support levels and place stops below for low risk high reward.

---

Excellent advice here

oldarmy1 said:

---

gougler08 said:

---

OA is really good on investment stuff but definitely buys in to the right wing conspiracy stuff a bit much too

---

This came from an Independent.

PROG, right on for taking the huge gains off the table. I was like a mad man this morning taking gains.

Cup completion rules apply....

---

I was trimming like crazy today / not rolling any covered calls I had in the money. Time to stock pile cash for a reversal

Glad you're posting more on here!

Dumb question, but are there any books/resources for self teaching when it comes to trends/resistance levels/etc?

Page 1 of this forum has a book that is excellent plus some other resources/suggestions.

Thanks. I always just go straight to the latest page and never caught that

oldarmy1 said:

---

gougler08 said:

---

OA is really good on investment stuff but definitely buys in to the right wing conspiracy stuff a bit much too

---

This came from an Independent.

PROG, right on for taking the huge gains off the table. I was like a mad man this morning taking gains.

Cup completion rules apply....

---

Thank you my friend and I've decided to book profits early and build large cash positions in accounts that I control because of technicals, not politics. I hoped to be able to wait until Jan 2 to book profits but I think a lot of traders have the same idea, so **** the taxes. The markets are very over extended and I'm comfortable not selling at the top and have a pile to redeploy when things revert back. I wouldn't suggest shorting stocks or buying puts into this rally because the odds are not in your favor, but I would urge caution and control your greed. With that said, I plan on liquidating most of my holdings except for SAVA, T and most of TFC. I've sold most of my WAL because the dividend isn't much but the gain has been incredible.

SAVA is a hero or zero so it's a homerun or tax gain offset.

T is one I bought at $13.7 a few months ago and in a DRIP.

TFC is also in a DRIP and has a good yield.

No one knows the future and I've just grown uneasy with the market at these levels. My opinion is no better than anyone else's, so make your own decisions.

ProgN said:

---

FJ43 said:

---

Page 1 of this forum has a book that is excellent plus some other resources/suggestions.

---

When is your project over? Mine is rapidly approaching and I feel like I've spent 40 years in the desert and see the promised land on the horizon. I'm so burned out.

---

Still a ways out but going well. Sometimes these things take lives of their own.

Good to hear you see the light at the end of the tunnel.

oldarmy1 said:

---

Perhaps, but they were one of the first to acknowledge Covid was not some ridiculous bat market disease narrative, or that it was an "accident", or that gain of function wasn't involved.

Of course, I knew it was an intentional bio-weapon attack from day 1, and tweeted such long before anyone, including any contacts I know. I suppose that makes me an originator of a "right -wing conspiracy"; or whatever one with their head up their collective behind might choose to call it. Those people probably still buy that it was a market or accidental lab leak.

---

I think as soon as most conservatives heard the word "China", suspicion arose.

A fool and his money....

...are soon partying!

Speaking of which...friday lottos, anyone? Crm calls? Ba?

CVNA if we are doing lottos!

what time does options expiry just send this sucker ripping into close?!?!

Didn't want to do it, but I shaved my positions in POWL and SMCI today. Took some profits. Would love a pullback to load back up!

Waiting for a small timeframe cool off in BABA. Watching $72-$73.50 area for entry with stop at $71.50. Target is $82 and higher targets are gaps above at $86 and $94.

Buying Jan 19 Puts for both SMCI and TTD playing the channel they are currently in. Stop out if they hit 310 and 78 respectively

I love playing channels like this. Think I will follow along with TTD