I gotcha. So you already have a position in this ETF?

$spy morning glance. With some levels and thoughts as this choppy downside trade continues pic.twitter.com/50iqGHJ8o6

— Scott Redler (@RedDogT3) April 19, 2024

He's a good follow and has a "Blood in the Streets" series. When things get bad bad and we are breaking support "blood in the streets" he starts putting money to work in his wife's accounts.

Chef Elko said:

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$spy morning glance. With some levels and thoughts as this choppy downside trade continues pic.twitter.com/50iqGHJ8o6

— Scott Redler (@RedDogT3) April 19, 2024

He's a good follow and has a "Blood in the Streets" series. When things get bad bad and we are breaking support "blood in the streets" he starts putting money to work in his wife's accounts.

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Buying when blood in the streets is present is an easy phenominon.

SPY is literally designed to always go up in the long term.

What they fail to mention is when do they EXIT.

HoustonAg_2009 said:

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I gotcha. So you already have a position in this ETF?

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Yes, minimal so far and just started when I first brought it to the board.

NVDA below 800 soon?

SF2004 said:

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Chef Elko said:

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$spy morning glance. With some levels and thoughts as this choppy downside trade continues pic.twitter.com/50iqGHJ8o6

— Scott Redler (@RedDogT3) April 19, 2024

He's a good follow and has a "Blood in the Streets" series. When things get bad bad and we are breaking support "blood in the streets" he starts putting money to work in his wife's accounts.

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Buying when blood in the streets is present is an easy phenominon.

SPY is literally designed to always go up in the long term.

What they fail to mention is when do they EXIT.

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Redler says when he exits as well.

McInnis 03 said:

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If ARM breaks below 100 and stays, it could be a nice quick short opp.

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Listen to yourself sometime dumbass.

When to exit is indeed very difficult! I'm using this as a simple check for support levels in regards to putting buy and hold money into the market. The poster mentioned Model Yugo so I think of the poster who buys VTI and holds in decent sized corrections

texagbeliever said:

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NVDA below 800 soon?

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texagbeliever said:

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NVDA below 800 soon?

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GreasenUSA said:

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texagbeliever said:

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NVDA below 800 soon?

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Big volume on that break below 800.

Buy ASO under $55, tight stop $53, lower stop can be $48. Target $145 in 2025. My expectation is very choppy on the way up with a potential massive drop before or around election, so earlier target would be the high preceding that potential which I have as potentially $100-$115 range.

JPM is to watch. If it can close with a nice red candle here on the 10 min (ending 1:10) that could allow for the drop.

The banks look ready to give up their gains. It could be flush time.

I have SPY 494 as a support and expect a bounce.

texagbeliever said:

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I had my first 10 bagger trade. AMD 150s. It was extremely hard not to hold through till just now. That one feels really good.

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Well done! Add it to the "Tenbagger" thread. They are to be celebrated and acknowledged.

Here's to many more!

Agreed.

Funny thing, in my self-directed account today I am up a bit (trading marginally, 65% cash now, mostly bonds/metals in the remainder), but in my similar 401K even set to conservative I am off (only .13%) because even though I put it at the bottom of fidelity's risk threshold it's still 20 percent in S&P500.

I'm convinced things will get much worse before they get any better for equities broadly. Will see what SI does on monday. I am tempted to load up some more on SLV calls may 24 $32.

Good. Let it drop. I liquidated all my positions before the bloodshed that happened yesterday. Wish I had not listened to my advisor a month ago when I sent him a bunch of tight stops for my tech holdings and he talked me out of setting them. Oh well - I still ended up making a better than money market return from when I entered all my positions in January. Live and learn.

We love big wins here! Congrats!

I used today to shed some bags that I no longer want to see as if they were a WWR doppelganger. I'm like Oprah on Ozempic right now, portion control. With that being said I sat on a turd for months and watched it lose half its value. Portion was small, but gave me diabetes. 1000 shares of DTC at 3.80 after it already got decimated. I'll take the 2k hit, as I made base hits along the course to negate the loss. I like using these days to set up some semblance of a clean slate. Only holding onto a couple small portion tech stocks and some casino plays. Casinos have never let me down, thanks to the abundance of filthy degens in the world.

Anyhow all about wealth preservation or sitting idle on the Ozempic for months on end was all for naught. Can't get creamy eyed over a few red days. I need BLOOD!

bmoochie said:

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I can easily buy 1 or 2 shares at a time with profits and just slowly build a position that way. This seems like such an easy concept but just never registered in my "trading brain" to do something like this.

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It's like planting seeds in your garden. Buying a couple of shares at a time with profitable trades will grow your account over time. It also doesn't take away from your trading cash, but it also prevents you from taking on too much risk and blowing up your account.

4920 is key early next week. Through that and the floor starts to move. Bounce there, and we could be eyeing a Model-T style retrace over the coming weeks.

Heineken-Ashi said:

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Have another longer term play on a familiar name.

BLDE - November $5 calls - currently $0.35 bid and $0.55 ask with $0.50 last price. 841 open interest. August has the same OI.

Target is $9.90 stock price between August and November for $4.90 contract value plus any time premium based on when it hits for a nearly 10x. I'll put a minimum target of $6.90 as an alternate for contract value of $1.90 or nearly 4x. Support as of now is $3.00 to $3.35 with earnings on May 7. Goal is to buy a tranche now and then buy a second tranche should it drop into support zone. Maybe 10 calls on each tranche. Below $3.00 stock price and would have to re-assess to see if there is any sort of bounce even with the play likely invalidating.

I'm counting BLDE as having completed an ending diagonal down from the April 2022 high to the Nov 2023 low. Like I explained with IWM, when ED's complete, they almost always reverse back to where they started from and do so in half the time. August would be that 1/2 time but November's aren't a huge premium in contract value over August so I like giving ourselves the extra time wiggle room.

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Here's the chart. Notice the VRVP profile all time lining up with the target.

Heineken-Ashi said:

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BLDE Nov $5's had 1,000 contracts today. This was not the only place I posted the play. If this works out, a lot of people are going to make bank. But just know, we might need to keep our eye on available liquidity as time moves on.

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I bought August $5 BLDE calls back in early Feb. So while I agree with your sentiment, I'm gonna have to ask for a quicker ramp up than you need!

Ha, no offense taken. It's appropriate anyway because I am an infant to investing currently…very accustomed to not having money to spare for so long and then, BAM!, Got hit with a money hammer. Now I am trying to figure out how to not piss it away and was disgusted enough with financial advisor fees that I've started devoting more time to this thread and other resources in an effort to take it over myself one day down the road. For now I mainly need someone with more experience to prevent me from doing something stupid and someone with the legal & accounting background (that I don't have) to set me on a good path.

flashplayer said:

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Ha, no offense taken. It's appropriate anyway because I am an infant to investing currently…very accustomed to not having money to spare for so long and then, BAM!, Got hit with a money hammer. Now I am trying to figure out how to not piss it away and was disgusted enough with financial advisor fees that I've started devoting more time to this thread and other resources in an effort to take it over myself one day down the road. For now I mainly need someone with more experience to prevent me from doing something stupid and someone with the legal & accounting background (that I don't have) to set me on a good path.

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Keep learning and refining your skills. No one cares more about your money than yourself. Besides, we have CPAs, lawyers, doctors, traders, engineers, etc. in our group. I'm confident they'd give you the right advice and answer any questions you have.

Did you watch all five of those old commercials. If not, you will lol.