cheers sir! scalped a degen lotto. bought a dip, sold the rip, quick 25%. S&P looks stuck here, which way will she go.Heineken-Ashi said:Boom!Heineken-Ashi said:
In on SMCI at $847. First target $861, move stop up to $854. Then $875. Move stop up to $860. Stair step approach. Can get all the way to $1,025.
Stop moved to $850. Can't lose.
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Last: 4 min ago by Tumble Weed
I lied. I wasn't done. One more try for $885-$890 range. Stop at recent low. Playing with house money. If stopped, no profit today.
in 510 C SPY lotto
I think we retest today's high at some point this afternoon. intraday also looks like a W forming
I think we retest today's high at some point this afternoon. intraday also looks like a W forming
agree...we're going up...no way NVDA let's this market slip 
Same thought. 509s for me.Brewmaster said:
in 510 C SPY lotto
I think we retest today's high at some point this afternoon. intraday also looks like a W forming
last green day before Brew's "island trap" takes hold next week
Heineken-Ashi said:
I lied. I wasn't done. One more try for $885-$890 range. Stop at recent low. Playing with house money. If stopped, no profit today.
could be, although some of those islands can drag on. I wouldn't be surprised if they dragged it up along the trend line a few days first.EnronAg said:
last green day before Brew's "island trap" takes hold next week
Stopped. Bummer. Bulls had a flag and dropped it. Will porbably rip now to target.
You are considered a Pattern Day Trader if you make 4 or more round trip trades over a rolling 5 day period.El Chupacabra said:
what does getting flagged as a pattern day trader do/mean?
got well over the 25k of equity req'd in a margin account.
Having $25K or not has no bearing on this label.
Brokers will discourage you from making additional trades if you have less than $25K, and they may restrict you from trading.
If I have >$25k, and am a Pattern Day Trader, can I still make trades?GreasenUSA said:You are considered a Pattern Day Trader if you make 4 or more round trip trades over a rolling 5 day period.El Chupacabra said:
what does getting flagged as a pattern day trader do/mean?
got well over the 25k of equity req'd in a margin account.
Having $25K or not has no bearing on this label.
Brokers will discourage you from making additional trades if you have less than $25K, and they may restrict you from trading.
I'll take that after the week we had.
change it over to a cash account (no margin) and you will probably avoid this issue in the future. Yes, you may in the sin bin for a bit and have to trade only with cleared $.
Where's our clubhouse member that's a CPA? I have a question and it's above my paygrade.
Business or individual? Ask away and I can probably answer, or get you an answer.
Individual and I'll PM
I sent you a PM with more details and thank you.
Sent a couple responses.
OK family, I've been glancing at some things and I advise you all to exercise extreme caution if considering going long in most positions or calls. I'm not saying to short either, just take a breath and don't let emotions control you. Yes, FSLY made me his prison *****, but I'm not selling or averaging down. I have initiated first purchase of PANW at $275 this week after earnings and will add more at a lower price if I'm right about the markets rolling over, both of those stocks have already corrected so they might go lower, but not as severely as ones that haven't .
No one knows what's going to happen, but I'm not liking what I see in the charts. I'm not an oracle and nobody is, but I don't want anyone here to get burned. You all are intelligent and make your own decisions; control emotions (FOMO), no margin, and don't gamble.
JMO
No one knows what's going to happen, but I'm not liking what I see in the charts. I'm not an oracle and nobody is, but I don't want anyone here to get burned. You all are intelligent and make your own decisions; control emotions (FOMO), no margin, and don't gamble.
JMO
Agree here. FOMO is alive and kicking. This will not end well for most retail. I'm down to holding very little for more than a few days and most is daily buys and sells.
I've pulled a lot out into cash, still trying to think of what to do with my three largest - AMZN, TTD, and NVDA.
Aside from my fun money account with a couple options, my main account is cash with a bit of long term VOO
Can BA be one of the first to rollover?! I'm sick of that stock. Downgraded and damn near ended green today. Gotta make a decision this next week ok my March puts.
Sage advice Prog! This move (and in February no less) is insane. I remember Bonfire or was it Heineken? cautioning against a storm coming in March. Banks were given some free money and that is out. March may be time to pay the piper.ProgN said:
OK family, I've been glancing at some things and I advise you all to exercise extreme caution if considering going long in most positions or calls. I'm not saying to short either, just take a breath and don't let emotions control you. Yes, FSLY made me his prison *****, but I'm not selling or averaging down. I have initiated first purchase of PANW at $275 this week after earnings and will add more at a lower price if I'm right about the markets rolling over, both of those stocks have already corrected so they might go lower, but not as severely as ones that haven't .
No one knows what's going to happen, but I'm not liking what I see in the charts. I'm not an oracle and nobody is, but I don't want anyone here to get burned. You all are intelligent and make your own decisions; control emotions (FOMO), no margin, and don't gamble.
JMO
scalping makes money too. and you get to sleep good at night knowing if a rug pull happens you're already in cash.
I don't trade BA and their new jet seems to suck, even the doors fly out during a flight. Also the head of that division (737?) just left the company. I don't consider BA a one to make macro decisions on because they have enough problems. If they drop to $50 or less, then I'll play them like I did XOM at $37 a few years ago.bmoochie said:
Can BA be one of the first to rollover?! I'm sick of that stock. Downgraded and damn near ended green today. Gotta make a decision this next week ok my March puts.
The reason I've posted loading 4/5/24 SPY puts is because of NVDA's explosion into and after earnings, when I initiated my SPY 405 puts and then added more 4/5 409 puts this morning; they're running out of steam imho.0708aggie said:
Agree here. FOMO is alive and kicking. This will not end well for most retail. I'm down to holding very little for more than a few days and most is daily buys and sells.
Look, did you witness the action in NVDA and SMCI today? They both opened gangbusters and then drifted, look where they closed. NVDA has driven SPX/SPY and SMCI has been the driver of the Russell, as they go, so will those markets.
I'm not asking anyone to follow, just for everyone to exercise caution. I don't expect a crash but I've positioned myself to profit if we have a 5-7% pullback. I've posted my buys and will when I close the puts, whether it is a profit or loss. Use the weekend to research and decide what you want to do, That said, don't gamble and risk hurting your accounts should you/I'm wrong.
Gig'em
It was bonfire, but I've been cautioning about banks for over a year. Being long in strategic opportunities with logical stops is fine. DCA'ing and ignoring the oncoming storm will prove to be painful.
Why 5-7% and not more?
More wouldn't surprise me but I don't want to get locked in on a number and miss a nice profit because it hasn't gone down 10% and then watch it go back up.
I've got mutiple buys set on all my ETFs all the way down to early January levels, and also plan to DCA $12k into the S&P over the next 6 months. (Was planning on holding until a real correction but it's going to be impossible to time anything in this market.) Similarly will be DCA'ing into my Roth over the entire year.
Should we dip below that, I plan to deploy the rest of the cash I currently have sitting in a 5.2% money market fund.
Should we dip below that, I plan to deploy the rest of the cash I currently have sitting in a 5.2% money market fund.
ProgN said:The reason I've posted loading 4/5/24 SPY puts is because of NVDA's explosion into and after earnings, when I initiated my SPY 405 puts and then added more 4/5 409 puts this morning; they're running out of steam imho.0708aggie said:
Agree here. FOMO is alive and kicking. This will not end well for most retail. I'm down to holding very little for more than a few days and most is daily buys and sells.
Look, did you witness the action in NVDA and SMCI today? They both opened gangbusters and then drifted, look where they closed. NVDA has driven SPX/SPY and SMCI has been the driver of the Russell, as they go, so will those markets.
I'm not asking anyone to follow, just for everyone to exercise caution. I don't expect a crash but I've positioned myself to profit if we have a 5-7% pullback. I've posted my buys and will when I close the puts, whether it is a profit or loss. Use the weekend to research and decide what you want to do, That said, don't gamble and risk hurting your accounts should you/I'm wrong.
Gig'em
Prog, first off, love your posts and your contributions to this thread have made us a lot of money (TTD, POWL, SMCI, etc.)
Just curious, what is your reasoning for using spy puts over QQQ in this current market? Seems the QQQ would be in line for a bigger drawdown if things were to turn and the premiums are a little cheaper. I myself use spy puts as a hedge but am wondering if QQQ isn't the better option right now.
Keep an eye on BROS this week. Market digested the earnings and put in a very tradable inside bar on Friday.
Would love to see an intraday pullback to 28.20 and then a 15 minute close above 29.22. Room to run to 32 after that IMO. If using options, premiums are fairly cheap too. March $29 calls around .95 and the April $30s around 1.20.
Would love to see an intraday pullback to 28.20 and then a 15 minute close above 29.22. Room to run to 32 after that IMO. If using options, premiums are fairly cheap too. March $29 calls around .95 and the April $30s around 1.20.
Roger. The SPY weekly MACD is looking like it's headed for a bearish crossover. Last time it did this at these levels, it ended up costing my 401K 20%. Since then, I've decided that I'm going to be more proactive with protecting my retirement. May pull a bit more cash out and reload the powder for a drop.
Thank you for the kind words.DavysApprentice said:ProgN said:The reason I've posted loading 4/5/24 SPY puts is because of NVDA's explosion into and after earnings, when I initiated my SPY 405 puts and then added more 4/5 409 puts this morning; they're running out of steam imho.0708aggie said:
Agree here. FOMO is alive and kicking. This will not end well for most retail. I'm down to holding very little for more than a few days and most is daily buys and sells.
Look, did you witness the action in NVDA and SMCI today? They both opened gangbusters and then drifted, look where they closed. NVDA has driven SPX/SPY and SMCI has been the driver of the Russell, as they go, so will those markets.
I'm not asking anyone to follow, just for everyone to exercise caution. I don't expect a crash but I've positioned myself to profit if we have a 5-7% pullback. I've posted my buys and will when I close the puts, whether it is a profit or loss. Use the weekend to research and decide what you want to do, That said, don't gamble and risk hurting your accounts should you/I'm wrong.
Gig'em
Prog, first off, love your posts and your contributions to this thread have made us a lot of money (TTD, POWL, SMCI, etc.)
Just curious, what is your reasoning for using spy puts over QQQ in this current market? Seems the QQQ would be in line for a bigger drawdown if things were to turn and the premiums are a little cheaper. I myself use spy puts as a hedge but am wondering if QQQ isn't the better option right now.
Honestly, I'm just more familiar with SPY because of how long I've watched it. I may look at the QQQ later this weekend. Like I've posted before, there's something new to learn in the market everyday.
The RSI on the 6 month SPY, is what has my attention and why I believe we're close to pullback.Philip J Fry said:
Roger. The SPY weekly MACD is looking like it's headed for a bearish crossover. Last time it did this at these levels, it ended up costing my 401K 20%. Since then, I've decided that I'm going to be more proactive with protecting my retirement. May pull a bit more cash out and reload the powder for a drop.
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