Seeing reports that people are having Fidelity log in issues - I got in fine this morning.

Anyone having issues with their broker?

IWM threatening completing the August reversal. $200 target.

CC09LawAg said:

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Seeing reports that people are having Fidelity log in issues - I got in fine this morning.

Anyone having issues with their broker?

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I couldn't log in earlier this morning.

HMY - Looking for between $7-$8 with closer to $8 as bottoming zone. I will be buying more in that zone.

jeez, energy getting pummeled...sign of recession?

Only a sign my stock is getting ready to vest in a few weeks

OPEC sees demand cut due to big surge in ev's in China. Also increased production expected in December.

Thinking about Puts for OXY now that it's broken below the range it's been in on the weekly

bought CLSK yesterday around 8.50, partly following flow, partly chart reversal. Run ***** run!
planning to just keep resetting stops higher.

Brewmaster said:

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bought CLSK yesterday around 8.50, partly following flow, partly chart reversal. Run ***** run!
planning to just keep resetting stops higher.

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My $8 puts I sold are already at half value. Resistance is $9.61 and I might just buy them back and see if I get another chance to sell them.

Brewmaster said:

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bought CLSK yesterday around 8.50, partly following flow, partly chart reversal. Run ***** run!
planning to just keep resetting stops higher.

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Hey Brew - you probably already are familiar with Trailing Stops, but it sounds like it might be a good solution for you, to not have to continually manually adjust stops upward. I like them a lot when I have already decided to close a position. Just food for thought.

Interesting Big whale purchase of TSLA 9/25 $500 calls today.

Shorting a stock on a weekly capitulation bar (outside lower BBs) would most likely not be the smart move. Me thinks calls will pay and puts will go worthless. As always, could be 100% wrong

I bleed maroon said:

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Brewmaster said:

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bought CLSK yesterday around 8.50, partly following flow, partly chart reversal. Run ***** run!
planning to just keep resetting stops higher.

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Hey Brew - you probably already are familiar with Trailing Stops, but it sounds like it might be a good solution for you, to not have to continually manually adjust stops upward. I like them a lot when I have already decided to close a position. Just food for thought.

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Yeah these are wise words amigo. I'm going set one now in Fido. I'm happy things are rebounding, but not convinced the blood is over.

giddings_ag_06 said:

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I feel like MARA is in the buy zone now. Took a beating lately and are due for a bounce. Hoping Bitcoin can get back to the $70's and MARA can climb into the $20's.

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$13.4 to $15.94 since this. Wish I had loaded up more than I did. Oh well.

I bleed maroon said:

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Brewmaster said:

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bought CLSK yesterday around 8.50, partly following flow, partly chart reversal. Run ***** run!
planning to just keep resetting stops higher.

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Hey Brew - you probably already are familiar with Trailing Stops, but it sounds like it might be a good solution for you, to not have to continually manually adjust stops upward. I like them a lot when I have already decided to close a position. Just food for thought.

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any platforms that allow those as good til canceled? at least in Webull only option is Day

EliteZags said:

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I bleed maroon said:

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Brewmaster said:

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bought CLSK yesterday around 8.50, partly following flow, partly chart reversal. Run ***** run!
planning to just keep resetting stops higher.

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Hey Brew - you probably already are familiar with Trailing Stops, but it sounds like it might be a good solution for you, to not have to continually manually adjust stops upward. I like them a lot when I have already decided to close a position. Just food for thought.

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any platforms that allow those as good til canceled? at least in Webull only option is Day

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Good question! I just checked in Schwab (web trading platform, not TOS), and it appears that you can do GTC orders with trailing stops. In fact, it allowed me to keep the trade active until next March! HOWEVER...

I only submit these as day orders, because I'm nervous about movement after hours, or at the open the next day, especially if it's a volatile stock. So, I just get in the habit of resubmitting them daily. I think years ago I set one GTC, and the stock collapsed at the open, at which point my order executed at a MUCH lower price than my trail value from the prior day - still fair from the broker's standpoint, but I might have decided to hold it longer, instead of selling at the low price. As I said, Fast forward to today - - I have usually already decided to sell, so I set the stop pretty tight, and it usually executes within a day or two.

Your mileage may vary - I can see some instances where a GTC approach would be useful, too. Happy trading!

ALB up 8% so far this morning. Don't see any news as of now

El_duderino said:

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ALB up 8% so far this morning. Don't see any news as of now

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Quote:

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Shares of lithium miners were soaring early Wednesday thanks to supply decisions for the world's largest maker of electric-vehicle batteries.

Wednesday, Citi analyst Jack Shang wrote in a report that his industry contacts suggested that Contemporary Amperex Technology Co Ltd, or CATL, would suspend some lithium-ore mining and halt some lithium carbonate production.

Lithium, often in the form of lithium carbonate, is a key material in EV batteries.

CATL is the world's largest maker of EV batteries, accounting for about 40% of the total market. CATL supplies many EV makers including Tesla.

"There is no confirmation from CATL yet," Shang wrote. CATL didn't immediately respond to a request for comment.

There's an oversupply of lithium product right now, so the suspension is understandable. Oversupply in any commodity pushes down prices. Coming into Wednesday trading, benchmark lithium prices are down roughly 60% over the past 12 months.

In addition to CATL's potential capacity reduction, Shang noted that lithium-ore production has declined some 14% in recent weeks. "We see near-term sentiment uplift to lithium prices, helped too by the traditional September-to- October peak season with cathode production pipeline estimated to be up by 6% month over month," he wrote. "These should accelerate the lithium-destocking process as well."
Destocking means that manufacturers aren't replacing all the lithium they have been using, reducing their inventories. It's a sensible strategy when prices are falling.

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$99 - $110 is the range for the next move to land. Above $110 and I will want any retrace to hold above $94.70 which is the Auh 30 high. But if it can't get above $110, then I expect this to swing back into the $80's again. Due to the larger than ideal retracement from the Aug 30 high, there's nothing terribly reliable on the chart. If its bullish, it might take some time and some larger than ideal swings that gradually move it up. But there's also bearish potential for another low. Stop is $75.

Heineken-Ashi said:

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El_duderino said:

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ALB up 8% so far this morning. Don't see any news as of now

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Quote:

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Shares of lithium miners were soaring early Wednesday thanks to supply decisions for the world's largest maker of electric-vehicle batteries.

Wednesday, Citi analyst Jack Shang wrote in a report that his industry contacts suggested that Contemporary Amperex Technology Co Ltd, or CATL, would suspend some lithium-ore mining and halt some lithium carbonate production.

Lithium, often in the form of lithium carbonate, is a key material in EV batteries.

CATL is the world's largest maker of EV batteries, accounting for about 40% of the total market. CATL supplies many EV makers including Tesla.

"There is no confirmation from CATL yet," Shang wrote. CATL didn't immediately respond to a request for comment.

There's an oversupply of lithium product right now, so the suspension is understandable. Oversupply in any commodity pushes down prices. Coming into Wednesday trading, benchmark lithium prices are down roughly 60% over the past 12 months.

In addition to CATL's potential capacity reduction, Shang noted that lithium-ore production has declined some 14% in recent weeks. "We see near-term sentiment uplift to lithium prices, helped too by the traditional September-to- October peak season with cathode production pipeline estimated to be up by 6% month over month," he wrote. "These should accelerate the lithium-destocking process as well."
Destocking means that manufacturers aren't replacing all the lithium they have been using, reducing their inventories. It's a sensible strategy when prices are falling.

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$99 - $110 is the range for the next move to land. Above $110 and I will want any retrace to hold above $94.70 which is the Auh 30 high. But if it can't get above $110, then I expect this to swing back into the $80's again. Due to the larger than ideal retracement from the Aug 30 high, there's nothing terribly reliable on the chart. If its bullish, it might take some time and some larger than ideal swings that gradually move it up. But there's also bearish potential for another low. Stop is $75.

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I have a cost basis of $90 and have continued to sell the $90 calls for the last 6 weeks. Wondering with this big bump this morning if I should at the open or if we think this baby is going to run more? I see your post but also with it now being up 14% this morning I'm curious

They rarely make it easy huh? I have multiple longer term price targets overhead as high as $130. But those all depend on the low at $71.97 holding. Shorter term, the most reachable target is $103. And like I said in the last post, because it retraced its lost move up almost entirely, it went from looking like an impulsive, ideal bullish setup, to a gorpy overlapping mess. There likely isn't going to be clarity from a technical standpoint unless it rockets much higher and then retraces shallow from that move. If you are risk adverse or are ok with small profits, I couldn't blame you for exiting between $99 and $107. If you are ok carrying it to a new low (which might or might not happen) where you might add more to your position, then you can just wait it out.

And I will add, until it breaks above $94.69, there's still a chance this is just a relief bounce. Like I've said, there's little clarity right now. But we're picking through weeds. For me, this is a long term setup. So I'm in and holding and willing to add more if it comes back into the low $70's or even my ideal lower target from a month or so back in the high $60's.

I sold out of ALB this morning and will possibly buy back lower. If it runs away from me, oh well. I'm getting more defensive and fairly bearish on the auto industry and oil right now.

I ended up selling the $90 calls for $3.15 expiring on 9/13 this morning. It might run but I love the premium I have been getting. 3.5% for 3 days isn't too bad!

ProgN said:

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Rest in Peace Lord Vader pic.twitter.com/HsFn5bkQC0

— Empire State Building (@EmpireStateBldg) September 9, 2024

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crazy fact on James Earl Jones and Star Wars - he took the cash early (as most would!), missed out on the royalties, but nobody knew at the time it would become a classic.

sold 75% of my CLSK yesterday AH, stopped out of the rest this morning.

most tickers over the last few days - it seems like they pop it and sell, pop it, sell. It really looks like the big boys are exiting positions.

Put positions all up huge today. Profiting from meltdown.

If you're watching X, Japan execs are meeting with US officials about the sale today. Should be an indicator of what's to come.

But also today, NUE is down around 5%. Maybe that's a tip.