Heineken-Ashi said:

---

If SPX can't get above today's high, I've got 5270 through tomorrow's open and 5225 through Wednesday's open. Support below that is 5200 and then nothing until last Monday's bottom. This morning the market hit the very bottom of a resistance area I was watching and rejected. Should it rebound and move higher, I have 5425 through Wednesday mid day.

---

With ~30mins to go, this is still my expectation.

uh oh, bulls fightin hard...but look out below 5,335 if they can't hold it

Iron Condor on SPX for tomorrow seems like the best play. Either way it turns, I don't think it will be a small move with PPI and Iran/Israel possible happening between tonight and Wednesday.

aggiebrad16 said:

---

Which one of you is Matthew from Texas that just called into Cramer about ALB…?

Good news gents- he said stay away!

---

Whoever it is, when that play ends up crushing it, we all owe them 5% of our profit.

FYI, I have not bought yet. Like I said, waiting on confirmation of bottom.

aggiebrad16 said:

---

Which one of you is Matthew from Texas that just called into Cramer about ALB…?

Good news gents- he said stay away!

---

Would be funny if there was an anti-Cramer ETF.

fauxstradamus said:

---

aggiebrad16 said:

---

Which one of you is Matthew from Texas that just called into Cramer about ALB…?

Good news gents- he said stay away!

---

Would be funny if there was an anti-Cramer ETF.

---

It shut down earlier this year.


https://finance.yahoo.com/news/inverse-jim-cramer-etf-shuttered-140000106.html

SBUX popping with new CEO

SMCI and TNA running.

Nice PPI reading. I think we'll likely get a sub 3.0 headline CPI reading tomorrow.

Brian Earl Spilner said:

---

SMCI and TNA running.

---

joined you a few days ago on TNA. Sold my SMCI scalp on that pop. Markets are going straight up and SMCI is selling hard, strange, probably not ready, needs more basing.

AMD off and running. Stop moved up to $138. Bottom of target range reached at $140. Next target $146 but might see some minor resistance at $143.50. Stop hit means this pattern off the low is not impulsive and more likely to be choppy or to even fail, so willing to get stopped out and put money to better use.

NVDA - Put a stop at just under $109 as below that before hitting before hitting $117-$118 range and pressure can push back down and even open new bearish potential.

$600 on the table today for SMCI?

IWM, above $208.60 and it can run to $212-$216 range.

Heineken-Ashi said:

---

IWM, above $208.60 and it can run to $212-$216 range.

---

Would be sweet, It's lost some momentum since the recession fears surfaced. Hopefully some of the inflation softening discussion will re-ignite small caps.

La Bamba said:

---

Heineken-Ashi said:

---

IWM, above $208.60 and it can run to $212-$216 range.

---

Would be sweet, It's lost some momentum since the recession fears surfaced. Hopefully some of the inflation softening discussion will re-ignite small caps.

---

I wouldn't get your hopes up. It's looking like a classic bear bounce even if it does that. I don't see any indicators suggesting a new high. But all of my lower targets except for the most bearish one were taken out last Monday. I have started developing a put position for September and will add to it if it hits $212 and again at $216.

I've been watching NUE for awhile and have mentioned it on this thread way in the past. But it is toying with a 52 week low and I feel like it could go lower. I live near one of their locations and they aren't cutting jobs even with the stock sliding since April. Everyone I know that works for them has been busy and even working some overtime. I'm setting some alerts for 135 as I see some support around there. Be cautious as they are fairly dependent on a a growing economy so it may be worth waiting for an economic turn around.

CRWD recovery continues.

Brian Earl Spilner said:

---

$600 on the table today for SMCI?

---

580 and looks like it wants to keep climbing...

E said:

---

Just need SLV to turn green and then I'm having a pretty good start to the week

---

The next move should be a good one. I grabbed some 8/21 $26 calls yesterday looking to make 2x-4x. Could see just under $25 first though.

$26.50-$28 is my target by week's end. The upper end of that would be the best thing possible, as it would "start" to diminish the lower October target that's been giving me pause.

Spoony Love said:

---

I've been watching NUE for awhile and have mentioned it on this thread way in the past. But it is toying with a 52 week low and I feel like it could go lower. I live near one of their locations and they aren't cutting jobs even with the stock sliding since April. Everyone I know that works for them has been busy and even working some overtime. I'm setting some alerts for 135 as I see some support around there. Be cautious as they are fairly dependent on a a growing economy so it may be worth waiting for an economic turn around.

---

Quick glance. $130-$135 seems likely. Next support would be $117 and that target has over a year to hit. I think you're right and this one has entered bear market territory. Bounces will likely get sold for a while, even ones that seem to take weeks and "feel" like it's improving. That said, the next bounce after a confirmed bottom likely gets $150-$175 range. Just a matter of if it happens here, after $135, or after seeing below $120.

Thanks for sharing. I track various steel pricing at work and can say hot rolled coil, OCTG steel (tubulars/pipe) and scrap steel are the lowest I've seen in the past handful of years. Looks like NUE may provide more structural steel, but I thought I would share what I'm seeing as well.

AMD gaining its footing. How we feeling about it?

big volume selling, just turns out they were shaking out paper hands like me, lol. Made good money, will buy next dip.

OXY down at $57. Time to jump in?

POWL volume has dried up.

Chef Elko said:

---

Thanks for sharing. I track various steel pricing at work and can say hot rolled coil, OCTG steel (tubulars/pipe) and scrap steel are the lowest I've seen in the past handful of years. Looks like NUE may provide more structural steel, but I thought I would share what I'm seeing as well.

---

The steel play is pretty dried up. Once everyone began piling into these companies the bloom was off the rose. Most of the market is retracting. Nucor looks pretty solid on a fundamental basis, not going to be taken to the cleaners. With that being said, opportunity cost value trap.

The sector is like Ozempic, looks good on paper, not good for overall health.

El_duderino said:

---

SBUX popping with new CEO

---

CMG down >10% (~$7-8 billion of market cap) and SBUX up >20% (~$20 billion of market cap). If the market thought my services were worth ~$20 billion, I'd be absolutely unbearable.

WestTexasAg said:

---

CRWD recovery continues.

---

I'm buying puts for earnings (9/6 exp, er is 9/4)